Teresa Farac Limited is a specialist taxation firm founded by its Principal Teresa Farac. Teresa has acted as lead tax advisor to some of New Zealand’s largest companies and on some of New Zealand’s largest and most complex transactions.
Teresa has in excess of 25 years experience as a Tax Partner in Big 4 global accounting firms and her breadth of knowledge and range of expertise are second to none.
- About Teresa
- Industry Credentials
- Mergers & Acquisitions International Tax
- Dealings with Inland Revenue
- Corporate Tax
- Public Private Partnerships & Social Housing
- Tax Policy
Fellow of Chartered Accountants Australia and New Zealand.
Teresa is recognised internationally and her accolades include being listed in Experts Guide and International Tax Review – World Tax as a leading New Zealand tax advisor:
- Since the mid 1990s, consistently rated as one of New Zealand’s top tax advisors
- Described by International Tax Review as having a “formidable reputation” and “being a distinguished tax professional advisor in the eyes of competitors”
- Named as the leading tax law advisor in both the inaugural Asian and Australasian` Euromoney Legal Media Group’s Women in Business Awards.
Teresa is an enabler. She helps businesses achieve their commercial goals with a problem-solving approach and is a hands-on advisor who gets things done. Teresa’s reputation has been built on superior client service and technical excellence combined with strong business judgement and a focus on identifying key issues and providing practical advice.
Key industries in which Teresa has specialist skills include:
Finance, including transaction services and advisory in the banking, life and general insurance, and funds management sectors
Infrastructure, including several private public partnership transactions, an area in which Teresa has become a recognised specialist
Energy and Mining. Teresa has acted on some of the largest transactions in addition to her corporate advisory work to industry participants
Forestry and Agriculture. Teresa acts for major participants and has a comprehensive understanding of key industry issues
Property development and investment, with recent credentials in social housing projects.
Teresa is a recognised leader in both M&A and International tax. Teresa has led International tax, Trans-Tasman tax and M&A tax practices in Big 4 firms since the early 1990s.
Teresa has acted in respect of some the largest New Zealand and cross-border transactions and has specialist skills in:
Due diligence
Structuring inbound and outbound transactions
Sale documentation, including tax indemnities and warranties
Structuring IPOs, takeovers, mergers, amalgamations and spin offs.
Teresa has extensive experience in assisting clients in dealings with Inland Revenue including:
Formulating and progressing requests of Inland Revenue for Indicative Views and Binding Rulings
Corporate tax risk reviews in advance of routine Inland Revenue audit activity
Inland Revenue risk reviews, audits and investigations including preparation and review of responses to Inland Revenue
Formal Dispute processes including preparation of relevant notices and dealings with Inland Revenue
Teresa believes that best outcomes are achieved by fostering positive relationships with taxing authorities.
Teresa provides corporate clients with proactive advice and, as required, by utilising tax function planning methodologies pioneered by her. These methodologies implement risk management frameworks and forward-looking management processes. They empower clients with the control of their tax functions, irrespective of whether they are resourced internally or externally.
Services include:
Consulting services ranging from day to day tax management to corporate restructuring, cross-border planning, tax modelling and tax forecasting
Tax risk reviews
Compliance, including tax return preparation or review, tax accounting support, periodic reviews of other taxes
Tax training of client staff.
Teresa has advised on Public Private Partnerships and Social Housing initiatives from the outset. She is fully conversant with the key structural drivers for Crown projects. Teresa has advised on a number of bids involving:
Pre-bid due diligence
Binding ruling applications
Liaison with Treasury and Inland Revenue Officials
Tax clauses in documentation
Reporting to and liaison with debt, equity and other participants.
Teresa Farac Limited can also assist with post-implementation project tax reporting and advice.
Teresa has been an active participant in the tax policy area since the 1990s.
Her tax policy work has included international tax, investment taxation, triangular taxation, life insurance and banking sector reform and limited partnerships.
New Zealand’s tax legislation is subject to constant change and is increasingly complex, particularly in the International context. Teresa’s approach to advising clients recognises the importance of having a thorough grasp of tax policy drivers underlying legislative provisions and being able to identify the impact on clients of proposed legislative changes or anomalies inconsistent with those drivers. She is proactive in formulating balanced strategic responses from a position of understanding key drivers and credibility with key stakeholders.