Legal Professionals

We specialise in tax accounting and financial services for the legal profession. Our deep understanding of industry-specific issues such as profit allocation, multiple income streams, and cash flow management, can help lawyers, barristers, judges and other senior legal professionals be tax efficient and compliant while also preparing for your long-term financial security.

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Industry-specific tax accountancy

We can help you negotiate the tax implications of irregular cash flow, such as bonuses, partnership distributions, and fixed income payments, calculating the amount you need to set aside for your tax liabilities. We also understand your industry-specific tax deductions, such as continuing education expenses, professional association fees, and legal library costs, and maximise all applicable deductions. With our support, you can remain compliant with ATO regulations, professional firm requirements, and structuring needs.

Establishing your business

We help barristers and new legal partner entrants set up their businesses, from generating an ABN to registering for GST and lodging their quarterly BAS. We can also advise on the structure of your business to maximise tax efficiencies and optimise profit allocations within the framework of ATO guidelines.

Taking a long-term view

As a Wilson Pateras client, you will be assigned a dedicated Principal and Manager who will provide a personalised service and take the time to understand your specific requirements and financial goals. Your Wilson Pateras team will always be accessible and responsive to your needs, offering timely support and advice.

Professional profit allocations

We are well-versed in the ATO's professional profits allocation guidelines and can help ensure that your profit allocation complies. Our expertise includes reviewing your current profit distribution methods, advising on tax-effective structures, and providing strategies to optimise profit allocation within the ATO framework, mitigating the risk of audits and penalties while maximising your tax efficiency.

The personal touch

Award-winning advisors

The industry recognition we have received is your assurance that you can be confident in our breadth of experience and depth of knowledge.

Make an enquiry

The first step towards optimising your financial position is to make an enquiry with us.

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