Tax » Capital Markets

Many industries such as Energy & Resources are extremely debt as well as equity capital intensive, and the tax treatment of instruments remains critical to their financial and commercial outcomes.

Debt instruments result in a return to investors that is tax deductible to the issuer, while equity instruments result in a return that is non-deductible but frankable – a stark difference backed by a complex law.

Under thin capitalisation laws, the mix of debt and equity proves crucial to the overall tax result, and the withholding tax treatment of returns paid to foreign participants in syndicated financing and debt issues warrants attention. Corrs has proven success navigating these and other issues surrounding successful property finance.

Our Experts

Craig Milner.jpg

Craig Milner

Partner Location Sydney Profile
KIMHeranwebsitegreySIZEDTH.jpg

Heran Kim

Special Counsel Location Sydney Profile
Rhys Jewell.jpg

Rhys Jewell

Special Counsel Location Melbourne Profile

Our Experience

Fortescue Metals Group

Fortescue’s US$2.04 billion senior unsecured note offering, and the follow on US$1.5 billion offering, was the first large scale unsecured high yield offering by an Australian corporate issuer and one of the largest note offerings by an Australian corporate in 2010. Corrs advised JP Morgan and RBS on all Australian income tax, withholding tax and GST issues.

Our Thinking

Structured receivables financing: Your path to cheaper credit?

Companies with healthy accounts receivables now have a new option for cheaper finance.

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What does real tax reform look like?

Australia faces tough decisions it can’t keep putting off.

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Infrastructure early stage tax losses - Welcome reform but issues remain

The draft legislation on tax loss incentives for infrastructure projects is welcome, but gaps remain.

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Federal Budget 2013-14: A tough one for business, especially multinational business

What are the most significant tax measures that will impact the business bottom line?

More

Australia turns up the heat on large and multinational taxpayers

The government’s announcement that it wants greater transparency around the tax activities of large businesses and multinationals reveals a suspicion that it’s missing out on tax revenue it ought to be getting.

More

Doing Business in Australia

Australia is an exceptional place in which to do business. Find out how we can help you develop your business in Australia.

More Download

Transfer pricing and Part IVA: Taxpayers are winning the battles but losing the war

The Commissioner of Taxation has successfully lobbied for reforms to the transfer pricing regime and Part IVA. Can taxpayers fight back?

More

The good, the bad and the ugly: Reflecting on transfer pricing developments in 2012

Australia’s transfer pricing landscape has been transformed. While some changes are positive, other aspects are positively alarming.

More

A refocused tax treaty network is key to achieving the Asian Century vision

Australia must urgently refocus its tax treaty network towards Asia if it is to compete with Hong Kong and Singapore as a regional investment hub.

More

Are the retrospective transfer pricing measures unconstitutional?

The Government’s willingness to introduce tax laws with retrospective effect creates fertile ground for a constitutional challenge.

More

A lower company tax rate. At what cost?

The Government wants to cut the corporate tax rate. But tough decisions must be made and not everyone will win.

More

Federal Budget 2012-13: The major business tax measures

Business won’t be thrilled with the 2012-13 Budget, but should be relieved that other changes floated in the lead up ended up on the cutting room floor.

More

Navigating stamp duty investigations

What are the triggers for these investigations and what do you need to know if you are subject to one of those investigations?

More

The Tax Forum - Worth the wait?

Will this week’s Tax Forum put the wheels back on the tax reform cart? Jonathon Leek considers the Government’s record on tax reform and the likelihood of real and effective reform.

More

Transfer pricing: A complex and pervasive issue

Transfer pricing is an issue that has become more complex and pervasive as a result of the increasing globalisation of business.

More

Our Experience

Fortescue Metals Group

Fortescue’s US$2.04 billion senior unsecured note offering, and the follow on US$1.5 billion offering, was the first large scale unsecured high yield offering by an Australian corporate issuer and one of the largest note offerings by an Australian corporate in 2010. Corrs advised JP Morgan and RBS on all Australian income tax, withholding tax and GST issues.

Our Thinking

Doing Business in Australia

Australia is an exceptional place in which to do business. Find out how we can help you develop your business in Australia.

Transfer pricing: A complex and pervasive issue

Transfer pricing is an issue that has become more complex and pervasive as a result of the increasing globalisation of business.

A refocused tax treaty network is key to achieving the Asian Century vision

Australia must urgently refocus its tax treaty network towards Asia if it is to compete with Hong Kong and Singapore as a regional investment hub.

The Tax Forum - Worth the wait?

Will this week’s Tax Forum put the wheels back on the tax reform cart? Jonathon Leek considers the Government’s record on tax reform and the likelihood of real and effective reform.

Navigating stamp duty investigations

What are the triggers for these investigations and what do you need to know if you are subject to one of those investigations?

Federal Budget 2012-13: The major business tax measures

Business won’t be thrilled with the 2012-13 Budget, but should be relieved that other changes floated in the lead up ended up on the cutting room floor.

A lower company tax rate. At what cost?

The Government wants to cut the corporate tax rate. But tough decisions must be made and not everyone will win.

Are the retrospective transfer pricing measures unconstitutional?

The Government’s willingness to introduce tax laws with retrospective effect creates fertile ground for a constitutional challenge.

The good, the bad and the ugly: Reflecting on transfer pricing developments in 2012

Australia’s transfer pricing landscape has been transformed. While some changes are positive, other aspects are positively alarming.

Transfer pricing and Part IVA: Taxpayers are winning the battles but losing the war

The Commissioner of Taxation has successfully lobbied for reforms to the transfer pricing regime and Part IVA. Can taxpayers fight back?

Australia turns up the heat on large and multinational taxpayers

The government’s announcement that it wants greater transparency around the tax activities of large businesses and multinationals reveals a suspicion that it’s missing out on tax revenue it ought to be getting.

Federal Budget 2013-14: A tough one for business, especially multinational business

What are the most significant tax measures that will impact the business bottom line?

Infrastructure early stage tax losses - Welcome reform but issues remain

The draft legislation on tax loss incentives for infrastructure projects is welcome, but gaps remain.

What does real tax reform look like?

Australia faces tough decisions it can’t keep putting off.

Structured receivables financing: Your path to cheaper credit?

Companies with healthy accounts receivables now have a new option for cheaper finance.

Our Experts

Craig Milner.jpg

Craig Milner

Partner Sydney + 61 2 9210 6072
KIMHeranwebsitegreySIZEDTH.jpg

Heran Kim

Special Counsel Sydney +61 2 9210 6200
Rhys Jewell.jpg

Rhys Jewell

Special Counsel Melbourne +61 3 9672 3455