Lawyers Mark West and Alex Whitney, author the following paper which covers what is understood to be the current ATO view on, and also how to proactively manage and mitigate the risks in relation to, reimbursement agreements. This paper was presented by Mark West at the 2021 Queensland Tax Forum. To access this document, please click here : Trusts 100A - reimbursement agreements; identifying and reducing taxpayer risks ...

West Garbutt have extensive expertise and experience in representing clients subject to a variety of revenue audits including Top 320 income tax audits, wealthy Australian income tax audits, GST audits, payroll tax audits and land tax audits. In the attached article, Lyndon Garbutt and Michael McLaughlin describe how best to guard against tax audit risk, summarising:
  • why high wealth individuals and private wealth groups have an increased exposure to the risk of income tax audits;OK
  • the potential costs of tax audits; and
  • strategies to help manage the risk associated with audits.  

The application of Queensland land tax to land held in trust by private wealth families can easily be misunderstood.  In the attached article, Lyndon Garbutt and Alex Whitney summarise: the circumstances in which land will be held on trust for land tax purposes; who will be regarded as beneficiaries; and the circumstances in which land held on trust should be eligible for the home exemption and primary production exemption.