Renuka Somers

Renuka assists private clients, corporate groups, and their advisers resolve complex tax issues, restructure business groups and succession planning.

Renuka specialises in federal tax, trusts, tax consolidation, and Family Office matters.

She has published numerous articles on tax and trusts issues in the Taxation in Australia journal and has also presented on these topis for The Tax Institute of Australia.

Experience

Renuka’s experience includes advising:

  • High net worth clients on Australian Taxation Office risk reviews; family business succession planning and inter-generational wealth transfers; preparing Family Agreements and Family Constitutions; and personal succession and estate planning;
  • Family business groups on tax effectively divesting individual businesses to specific family members / “blood line” groups;
  • Public unlisted tax consolidated group on all aspects of tax consolidation over a 5 year period – formation, joining, ACA, tax losses (transfer, utilisation, continuity of ownership test, same business test), available fractions, exits, tax sharing and funding agreements;
  • The vendor of a privately held group on the income tax and corporate compliance issues associated with the divestment of a $0.5 billion interest to an international investor; and
  • A large national group on how to tax effectively restructure its subsidiaries and enable key stakeholders to share in group profits.

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