Private Ruling to reduce the capital gain tax

The Challenge

The sale of a factory left our client with tax debt over $200,000.00

The Solution

We applied the private ruling to the Australian Taxation Office – ATO. We helped the client collect the evidence and present those evidence along with our argument points and reference to the tax legislation to the ATO. Through a meticulous structure of negotiation with the ATO, we used specific tax legislation in areas of the bad debt expense from other related company and carry forward trading loss to offset our client’s income and we were able to slash his capital gain tax by more than 90%.

The Result

We reduced the tax bill by more than $190,000. The client was so happy with the result.

You can view the private ruling in here – https://www.ato.gov.au/law/view/document?src=hs&pit=99991231235958&arc=false&start=1&pageSize=10&total=1&num=0&docid=EV%2F1051571997077&dc=false&stype=find&tm=phrase-basic-1051571997077