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Paul Sokolowski features in ATO Commercial Deals video

Taxation
PSokolowski video ATO
Arnold Bloch Leibler Taxation Partner Paul Sokolowski features in a video about the Australian Taxation Office's Commercial Deals Early Engagement Program.

The program involves the ATO engaging early with privately owned and wealthy groups to offer a pre-lodgment compliance agreement for commercial deals and restructure events. Commercial deals are defined as any significant business transaction that may affect the structure of a business, including demergers, divesting, financing and refinancing, IPO, mergers and acquisitions, restructures, sale of a business or business assets, sale of a commercial property or share buybacks.
 
Paul Sokolowski was interviewed for the video along with Tim Dyce - Deputy Commissioner, Private Wealth, ATO; Anna Longley - Assistant Commissioner, Private Wealth,  ATO; and other tax advisors.

“First of all, it’s an ‘all in’ process. Secondly, you have to prepare. Preparation is king. At the end of the day, you’ve got to lay all the cards on the table.”

In the video, Paul outlined his view of the program based on his experience of engaging on behalf of his clients:
 
“First of all, it’s an ‘all in’ process. Secondly, you have to prepare. Preparation is king. At the end of the day, you’ve got to lay all the cards on the table. Thirdly, I think that there needs to be an understanding or expectation that you’re not going to get complete certainty about the outcome but you’re going to get sufficient certainty that allows you to move forward with confidence.”

For more information about the program, click here

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