Showing posts from November, 2018

What’s happening in M&A?

M&A transactions force tax advisers to consider a variety of issues, many of which are frequently evolving.

The last year or so has exemplified the volume and fluidity of M&A tax issues to be considered, from the ATO’s ‘Justified Trust’ concept, the changes to central management and control (CMAC) following Bywater, the MAAL, the DPT, changes to the transfer pricing provisions, the Gordian Knot that is RCF IV, and the torrent of ATO guidance released recently.

At the 2018 Victorian Annual Tax Forum in October Enzo Coia, CTA, (Deloitte) presented the session ‘What’s Happening in M&A?’ where he discussed recent transactions and the themes associated with structuring, funding and financing acquisitions, dealing with sale proceeds, closing mechanisms, and ATO activity.

The paper he presented, co-written with James Gould (also of Deloitte), is excerpted in this post.

In order to provide a true ‘update’ of what is happening in M&A, Enzo and James considered recent tax de…

Powers of Attorney and SMSFs

The use of a self-managed superannuation fund (SMSF) as a wealth retention and investment vehicle in Australia continues to grow. This is despite the increased complexity of the rules and legislation governing SMSFs.

The ageing of SMSF members (and thus trustees/directors of corporate trustees) gives rise to the need for consideration of the continuity of appropriate management of those SMSFs in the near future. This is particularly the case in the event that SMSF members suffer from legal incapacity.

At the 2018 Super Day in Adelaide, Nicole Santinon (Cowell Clarke), co-author of The Tax Institute’s SMSF Income Stream Guide, presented the session ‘Powers of attorney and SMSFs’.

Nicole’s session considered the use of Powers of Attorney (POA) in the context of the management of SMSFs, and covered issues including:
The ability for a member to grant a Power of Attorney and the role of an attorney as an SMSF trustee/director of SMSF trustee The ability of an attorney to deal with member/tr…