Private Wealth

Greenwoods & Herbert Smith Freehills advises many of Australia’s most successful private groups and emerging entrepreneurial businesses.

We have a full service offering covering strategic domestic and international tax planning, taxation advice on major transactions, and the provision of comprehensive compliance services. We aim to maintain the highest level of client service on every engagement and work alongside our clients in an open and collaborative manner.

With the increasing ATO scrutiny of private groups and high net worth individuals, we appreciate the importance of managing ongoing relationships with the ATO. Our team regularly assists clients with ATO interactions, reviews, audits and disputes. Our clients benefit from our deep understanding of the technical tax issues as well as our industry-specific forensic and strategic insights. Our greatest successes are when we are able negotiate advantageous settlements of major issues for our clients.

Private Wealth Transactions

Private wealth matters

Greenwoods & Herbert Smith Freehills does not disclose information relating to its work on private wealth matters.

Private Wealth Publications

24 Jul 2019  |  Riposte  |  International  |  Real Estate  |  Projects & Infrastructure  |  Private Equity  |  Private Wealth

Investment in the US by superannuation funds and through LPs

The US 2017 tax reform included less noticed changes including one relating to foreign partners in LPs investing in the US. An important change in relation to investment by foreign pension funds in US real estate has also been developing over recent years. This Riposte briefly outlines recent important developments on these matters and the problems that can arise when they come together.

02 Jul 2019  |  Riposte  |  Private Wealth  |  Real Estate

Land tax changes following 2019-2020 State Budgets

In recent weeks, the Queensland and Victorian Governments handed down their 2019-2020 State Budgets. Each Budget contained land tax changes which are mainly targeted at foreign land owners.

17 Dec 2018  |  Riposte  |  Private Wealth

Capital gain versus revenue gain, again

The recent decision in the Ransley case has shown the willingness of the ATO to target investors seeking to adopt CGT treatment on the sale of shares. The decision also upheld the 50% penalty applied by the ATO.

12 Nov 2018  |  Riposte  |  Real Estate  |  Private Wealth

Extension of significant global entity definition and impact for large private groups

On 20 July 2018, Treasury released Exposure Draft legislation to extend the definition of a significant global entity (SGE). As a result, the extended definition of an SGE may include members of large private groups headed by unlisted companies, trusts (including discretionary trusts), partnerships or other investment vehicles. This will have wide ranging implications for affected large private groups which were previously outside the scope of some anti-avoidance provisions, increased administrative penalties and the requirement to lodge general purpose financial statements. The change is proposed to apply for income years starting on or after 1 July 2018.

07 Nov 2018  |  Tax Brief  |  Corporate and Mergers & Acquisitions  |  Private Wealth

Vacillation in Small Business Territory

The taxation of small business entities has seen more than the usual degree of schizophrenia in the last few weeks. While there were tax cuts for small business, Treasury released a Consultation Paper outlining proposed amendments to Div 7A. These measures are, for the most part, decidedly not concessional.

Tax Brief 7 November 2018 - Vacillation in Small Business Territory (240 kb)

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Private Wealth team

Andrew White

Director

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Cameron Blackwood

Director

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Narelle McBride

Director

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Nick Heggart

Director, Head of Energy & Resources

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