Tax Law Definition
Taxes are levied by the State and Federal governments. At a state level there are payroll taxes imposed on employers in respect of salaries paid to employees, land tax imposed on landowners, and duty imposed on a transactional basis. At the Federal level there is income tax, capital gains tax on dealings in assets and goods, and services tax to name a few.
Tax lawyers work within both traditional law firms and multi-disciplinary practices. The role of a tax lawyer is to assist both individuals and businesses to navigate the complex tax landscape and apply it to their circumstances. The role of a tax lawyer involves both advisory and dispute management services.
From an advisory perspective, tax lawyers assist clients to:
From a dispute management perspective tax lawyers assist clients to:
The practice of tax law requires a broad understanding of the legal landscape as the resolution of many taxation issues is resolved not only by reference to tax laws but also the broader legal framework, for example, the law of property, contracts, and equity.
Experienced tax lawyers are also often involved in the development of, and consultation in relation to, legislative and regulatory changes to tax law. Sometimes tax lawyers are active in advocating for legislative amendments where existing law is inadequate or impractical.