INCREASE OPPORTUNITIES

We believe that most accounting practices have opportunities to develop their skills in assisting clients who have international tax issues. This can help firms keep and attract long lasting client relationships, in a profitable industry segment.
 

With Expand, firms can leverage our specialty, keeping the client relationship without needing to have international tax expertise in-house.

Nor do firms need to lose clients to larger firms merely because there are international tax issues involved.

 

You should also be able to ensure your clients are properly looked after if they are moving outside of Australia but will remain clients of your firms.

MANAGE RISK 

Dealing with clients who have foreign assets or who own companies overseas, provides opportunities for highly profitable work, but this work comes with higher risk.

Firms can sometimes find their teams being asked to advise on tax issues on which specialist knowledge is required.

 

Some of these areas of tax include;
 

  • capital gains tax for foreign residents

  • income tax residency

  • assisting clients expanding their business overseas

  • controlled foreign companies (CFC)

  • foreign trusts

  • foreign superannuation funds

  • foreign currencies

  • transfer pricing

  • thin capitalisation

  • debt/equity rules

The problem of having to research answers under time pressure can leave a tax agent exposed to professional risk - especially when it comes to international tax.

 

A good risk mitigation strategy would be to have a sounding board resource that you can go to check issues and appropriate professional responses.

The Expand Network will help you manage these risks and retain your client relationship.