Handling personal finances and fulfilling tax obligations are some of your important everyday tasks. If you stuck with any of the complex tax issues or if you own a business, it is essential to hire the right tax lawyer in Perth. The importance of engaging an experienced tax lawyer cannot be overstated. Getting the right advice from them will invariably save you thousands of dollars over the long term. The tax lawyer helps you deal with the tax authorities, manage your tax affairs, and make you understand your tax obligations.
Here we listed the reasons why you need a tax lawyer in the first place.
Reason 1: For Dealing with ATO Audits
The skilled tax lawyer will help you in complying with tax obligations and preparing your team for a potential ATO audit. Probably, you have a higher chance of being audited by the ATO, if you are the high net worth individual, or have large companies. In case, if you want to challenge the ATO decision, or end up in court through the course of the audit, the lawyers will help you providing you with client legal privilege. Your tax lawyer will be able to assist, from preparing documents, providing legal representation in ATO meetings, to negotiating an effective and speedy resolution to the audit. They also can negotiate a deal with the ATO to aid in resolving your tax debt issues.
Reason 2: Doing Tax for Business
One of the cases where you will need a tax lawyer is when you are buying or selling a business. So, are you doing the tax for business? You can be guided when it comes to foreign tax rules and regulations if you hire the right tax lawyer! Apart from that, they can also help you do business outside the country. They help you from avoiding possible ATO penalties and interest you might have to pay to stay out of legal trouble. In short, they will review your business structure and protect your assets in tax issues. The lawyers will also help you set up a provision that enables you to capitalise on gains or recover the purchase price faster through depreciation. So having a professional makes a big difference to your team, and makes perfect sense.
If you are looking for a reputable law firm to hire the experienced lawyer, consider hiring Munro Doig Lawyers. They not only have a skilled tax lawyer, but also have famous Migration Lawyer in Perth, and Superannuation Lawyer in Perth.
The author of this article is an experienced tax lawyer in Perth. In this article, he discusses the reasons to hire a tax lawyer in Australia. To learn more, visit https://www.munrodoig.com.au/