Background

Domenic commenced his professional career as a chartered accountant.  After extensive experience in accounting firms, Domenic switched careers to become a lawyer.  He is now a QLS accredited specialist in taxation and a Chartered Tax Advisor with the Taxation Institute of Australia, while remaining a Chartered Accountant.  Domenic is a recognised specialist on a broad range of tax issues and investment rules relating to self-managed superannuation funds.  Domenic also regularly conducts training and presentations on specialist taxation matters for accounting firms as well as for professional and industry bodies.

TAX & SUPERANNUATION

The majority of Domenic’s work involves consulting to accountants, lawyers and financial professionals on tax, superannuation and structuring issues affecting their clients. Domenic draws on his combined experience in accounting and law to identify:

  • practical options for tax structuring;
  • ways to address taxation issues and develop successful arguments against ATO audit positions; and
  • solutions for self managed superannuation funds.

Structuring and Restructuring

Domenic’s recent experience in tax and structuring advice includes:

  • utilising various CGT rollovers for restructuring of assets;
  • accessing corporate reconstruction relief for company-owned assets;
  • restructure of trust and superannuation fund owned assets;
  • advising on the use of the consolidations regime for company-owned structures.

Tax Disputes

Domenic’s recent experience in responding to ATO audit positions includes:

  • advising on assets to be included or excluded from the $6 million net asset value test for the small business CGT concessions;
  • lodging an application of Division 7A to particular client circumstances;
  • preparing objections to assessments including access to the small business CGT concessions where the ATO sought to include family members affiliates;
  • advising on the non-application of the commercial debt forgiveness provisions in circumstances involving the release of debts between related parties;
  • obtaining an exemption from land tax for property owned in a trust.

Self Managed Superannuation

Domenic’s recent experience with self managed superannuation funds includes:

  • the application of the investment rules applying to self managed superannuation funds, in particular the in-house asset rules;
  • consideration of whether a particular entity falls within the concepts of related party or related trust;
  • advising on alternatives to limited recourse borrowing arrangements for gearing acquisitions of assets by self-managed superannuation funds; and
  • advising on alternatives for improving property owned, or to be acquired, by a self-managed superannuation fund.