Ecovis assists electrical contracting business to avoid double taxation

Background

Our client is a large electrical contracting business based in New Zealand. The company develops industrial electrical and control systems and had expanded its operations into Australia.

Issue

Our client needed expert advice on appropriate Australian taxation options to specifically avoid double taxation and align its financial reporting periods from the Australian financial year ending on 30 June to New Zealand’s tax year ending on 31 March. In addition, ECOVIS KGA provided assistance with the set-up and review of new payroll protocols.

Solution

We reviewed the company’s trading history and corporate structure that had been set up in Australia by previous advisers. We then considered a variety of solutions with a pro/con analysis, and in consultation with ECOVIS KGA recommended the optimal solution for our client. This approach allowed us to provide the client with a holistic and pragmatic review of the scenario and present them with the most suitable solutions to their dilemma.

Currently

ECOVIS KGA’s recommendations were accepted and the client proceeded with implementation. We are now working to progress alternate financial year-end reporting and are assisting with accounting and payroll function set-up.