Domenic Festa

Domenic Festa brings a unique blend of accounting and legal experience to his role as Principal, having spent eight years as a chartered accountant before transitioning to law. After completing his law degree at Queensland University of Technology, Domenic focused his legal practice on taxation matters, combining his in-depth financial knowledge with legal expertise to assist private businesses and investors navigate complex tax legislation and manage associated risks effectively. With significant experience working in boutique firms concentrating on tax and asset protection, Domenic has developed comprehensive knowledge across various aspects of taxation law. His practice involves advising on capital gains tax (CGT), income tax, Goods and Services Tax (GST), stamp duty, state taxes, and investment rules applicable to self-managed superannuation funds (SMSFs). He is frequently sought after by other legal practitioners and senior advisers for his practical guidance in devising effective tax solutions. Domenic assists clients with structuring and restructuring their businesses to ensure they are optimised for CGT and stamp duty outcomes. His expertise extends to the application of small business CGT concessions, particularly the complex areas surrounding their eligibility and utilisation. He also provides advice on managing Division 7A issues, value shifting provisions, debt forgiveness rules, trust losses, personal services income taxation, and distinguishing between capital and income receipts. In addition, Domenic offers strategic solutions on stamp duty, land tax, and payroll tax matters, along with a variety of approaches to asset protection that include but are not limited to asset restructures. He advises on SMSF-related issues such as asset transfers, limited recourse borrowing arrangements, and compliance with investment rules. Estate planning advice tailored to scenarios involving company and trust-owned assets also forms a significant part of his practice. Domenic supports accountants in public practice by providing specialist taxation training and presentations to professional and industry groups, sharing insights that help them better serve their clients. He holds accreditation as a specialist in taxation law from the Queensland Law Society, is a Chartered Tax Advisor with The Tax Institute, a member of the Institute of Chartered Accountants, and is admitted as a solicitor of both the Supreme Court of Queensland and the High Court of Australia. Recent matters handled by Domenic include advising commercial lawyers on tax implications in contracts for business and share sales involving substantial sums, facilitating stamp duty-exempt asset restructures both between trusts and from trusts to superannuation funds, and assisting with obtaining tax exemptions in specialised circumstances such as income protection policy terminations. He has also guided clients through objections to adverse tax assessments, addressed the operation of the small business CGT concessions and net asset value tests, and advised on the utilisation of the consolidations regime for company structures. His strategic input further encompasses alternatives to limited recourse borrowing arrangements for SMSF acquisitions and tailored solutions for managing land tax and property ownership within trusts.