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Member of the Taxation Institute of Australia
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Registered Tax Agent
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Bachelor of Laws / Bachelor of Commerce (Accounting)
“Prior to undertaking any transaction, tax implications need to be considered. Often, there are alternative ways a transaction can be structured which give very different outcomes…that’s where my role comes in.”
Tim Olynyk is a tax consulting partner at Banks Group and has 20 years of experience in providing specialist tax consultancy services. Tim is a qualified lawyer and commenced his career working in the legal profession.
Prior to commencing at Banks Group in 2010, Tim worked at both top-tier and mid-tier accounting firms in their tax divisions.
Throughout Tim’s career, Tim has specialised in providing tax advice to private family group structures. Tim has previously advised some of Australia’s wealthiest family groups through to mum-and-dad family businesses.
Tim’s areas of speciality include:
• CGT, CGT rollovers and application of Small Business CGT concessions;
• Division 7A and corrective action proposals;
• Trust Loss rules;
• Small Business Entity tax concessions;
• ATO audit management; and
• Sale & purchase transactions and due diligence.
Within his practice at Banks Group, Tim provides tax advisory services to several external accountancy and legal practices wanting specialist tax consultancy services. Tim also regularly provides tax presentations both internally within Banks Group and externally to various tax discussion groups within Melbourne.
Outside of the office, Tim has two young children, which keep him very busy. He is a local resident and enjoys nothing more than watching his beloved Tigers playing footy on the weekend.