Corporate Income Tax

Minter Ellison's corporate tax experts have advised on some of the most significant deals of recent times. We are highly responsive and passionate about cutting through the complexity to deliver clear, practical solutions and outstanding results for our clients.

Our team has extensive experience in mergers and acquisitions, divestments, reorganisations, demergers, capital raisings, IPOs and private equity deals. We also have strong credentials on major cross border transactions involving Asia and beyond. Structure advice is implemented efficiently through drafting and negotiating transaction documents, tax warranties, indemnities and disclosure materials. Our team is experienced in managing revenue authorities on corporate transactions and obtaining tax rulings as well as drafting tax sharing and funding agreements.

Our team has deep technical expertise covering capital gains tax, consolidation, losses, debt/equity classification, value shifting, debt forgiveness, thin capitalisation, tax treaties and anti-avoidance rules.

We benefit from a broad cross section of experience from leading global accounting firms, corporate tax teams, government and various international commercial centres. Our team works closely with our M&A and private equity teams to provide holistic advice and ensure complete and efficient implementation of structures and advice in transaction documents.

6 December 2011

Exposure draft legislation and explanatory material to rewrite and reform the rules on the buy-back of shares and non-share equity interests was released on 20 October 2011 for public comment.  These reforms implement recommendations made by the Board of Taxation in its June 2008 report Review of the taxation treatment of off-market share buy-backs. We review the current rules and discuss the key changes proposed in the draft legislation.

11 March 2011

The Assistant Treasurer released an Exposure Draft (on 17 February 2011) of the proposed new Foreign Source Income Deferral rules (the Exposure Draft).

The Exposure Draft sets out the proposed reforms for:

  • Australia's Controlled Foreign Company (CFC) rules, and
  • new integrity measures (following the repeal of the Foreign Investment Fund rules) in the form of Foreign Accumulation Fund (FAF) rules.