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Jock McCormack

Consultant
Sydney
About

Jock McCormack is a leading Sydney-based international taxation lawyer. He has specific experience in income tax and more than 30 years' experience managing complex tax matters.

He focuses on debt and equity structuring, acquisitions/mergers/divestments, international tax including transfer pricing, capital gains tax and major projects taxation issues.

Jock advises various major corporations on Australian Taxation Office (ATO) tax audits, tax strategy reviews and related issues including managing, negotiation and settling challenging and contentious tax issues and reviews. He also acts for major multinational clients, including those involved in financial services, funds management, property development and investment, construction, hotels (tourism), distribution and major infrastructure projects.

Jock actively represents clients and industry associations including Infrastructure Partnerships Australia and the Property Council of Australia in submissions and representations regarding major tax reforms, for example the Tax Exempt Asset Financing Rules (Division 250 of the Income Tax Assessment Act 1997 (Income Tax Assessment Act)), Public Trading Trusts (Division 6C of the Income Tax Assessment Act), Managed Investment Trusts (including capital gains tax treatment and the 7.5% withholding tax concession) and Collective Investment Vehicles.

Jock is the lead partner for our role on the Australian Treasury Tax Design Advisory Panel and in this role we advise the Australian Government on technical and commercial aspects of specific items of tax law reform, proposed tax legislation and drafting instructions.

He is Head of the Tax group of DLA Piper Australia.

Areas of FocusEnergy and Natural ResourcesFinancial ServicesInfrastructure, Construction and TransportCorporateFinanceMergers and AcquisitionsReal EstateTaxTechnology
Professional QualificationsSolicitor of the Supreme Court of New South Wales, 1981

EXPERIENCE

  • Advising a leading investment fund on the acquisition of a 21% interest in the operator of one of Australia's major international airports.
  • Advising the joint venture operator on the various tax and structuring aspects of a AUD3 billion port and rail development in Western Australia including income tax, stamp duty and goods and services tax (GST) advice.
  • Advising a New Zealand infrastructure fund on its acquisition of an interest in a significant Australian social infrastructure asset.
  • Advising a leading Australian bank on bid arrangements/structures for a AUD1 billion health facility.
  • Advising an ASX-listed infrastructure company on the sale of one of Sydney's major rail assets, including key de-consolidation and loss preservation issues.
  • Advising the operator of one of Australia's major international airports and its shareholders on various equity and debt restructures and new issues, including advising various foreign shareholders on key tax and related issues.
  • Advising a consortium of investors on all taxation and related aspects of its bid for a major toll road in Brisbane.
  • Advising a financial services provider and its major shareholders on the corporate restructuring and refinancing for its toll road project.
  • Advising a major investment fund on all taxation aspects of its acquisition of an equity interest in a leading provider of employment, training and workforce solutions.
  • Advising a leading US REIT on its real estate acquisitions and the establishment of a new real estate fund in Australia.
Education

    Awards

    • Recognised by Chambers Asia-Pacific as one of Australia’s leading tax practitioners, 2014-21
    • Recognised by Legal500 Asia-Pacific as a Recommended Practitioner for Tax, 2021 
    • Recognised as a Global Acritas Star, 2018-20
    • “Jock McCormack, has recognisable capability in Transfer Pricing granted by his extensive market experience in international tax advice” World Transfer Pricing

    Publications

    • 'Managed Investment Trusts, Collective Investment Vehicles and Investment Manager Regime', Australian CCH Tax Week article, 2 September, 2010
    • 'Topical Treaty Issues (Interpretation and Reform) including recent Australia / New Zealand Treaty', Challis Tax Discussion Group, 3 February, 2010
    • 'Section 45B under a microscope – capital repayments', Taxation Institute of Australia, Red Journal, October 2006
    • 'Australia: High Court has its Say in Citilink Melbourne Limited Case', Asia-Pacific Focus (BNA International Inc), September 2006
    • 'Tax risk management and the private binding ruling system – Editorial Message', Taxation Institute of Australia, Red Journal,  June 2006
    • 'CGT & Non-residents – Alignment with OECD Tax Practice',  Taxation Institute of Australia, Red Journal, October 2005
    • 'Tax practice – a change in the landscape', Taxation Institute of Australia, The Blue Journal, volume 39/4 October 2004
    • 'Tax Scheme Promoter Penalties – How Widely Will the Net be Cast', Taxation Institute of Australia, The Tax Specialist , Red Journal, April 2004
    • 'Tax Schemes 'Unscrupulous' promoters stand warned', Taxation in Australia, Blue Journal, March 2004
    • 'A New Chapter in Restructuring Tax Preference Transfers – Section 51AD and Division 16D Reforms', Taxation Institute of Australia, The Tax Specialist , Red Journal, Volume 6/3, February 2003

    Seminars

    Jock is a regular presenter at conferences. His recent presentations include:

    • 'Australian International Taxation Update', DLA Piper and DLA Phillips Fox International Tax Workshop, 25 November 2010
    • 'Is there a Permanent Establishment ?', International Fiscal Association, Australian Branch meeting, April 2009
    • 'Property Development law & Practice – Recent Key Tax Considerations & Opportunities', Legalwise Seminars, March 2006
    • 'Transfer Pricing – Current Issues & Controvers', International Tax Masterclass, Taxation Institute of Australia, NSW Division, October 2005
    • 'Key Recent Tax Considerations/Opportunities – tax Issues for the Property Lawyer', Legalwise Seminars, Sydney, August 2004
    • Presentation on the proposed Division 250 to the Corporation Tax Association's annual tax convention, May 2004
    • Presentation on behalf of the Taxation Institution of Australia regarding the proposed Division 250, August 2003

    Prior Experience

    Jock was previously a Senior Tax Partner with Ernst & Young Australia. He was also the resident Australian Tax Partner based in Ernst & Young's International Tax Group in New York from 1989 to 1991 and spent 1987 in Auckland as a Trans-Tasman Tax Specialist.

    Memberships And Affiliations

    • Treasurer, International Fiscal Association, Australian Branch
    • Deputy Chairman, Infrastructure Partnerships Australia , Tax Working Group
    • Property Council of Australia, National Tax Committee
    • Fellow, Taxation Institute of Australia
    • Law Society of New South Wales
    • Fellow, Institute of Chartered Accountants in Australia

    My latest insights

    Publication

    Australia: New double tax treaty with Slovenia and foreign resident CGT withholding...

    19 September 2024 .3 minute read

    News

    DLA Piper advises Macquarie Technology Group on AUD174 million strategic land acquisition...

    26 July 2024 .2 minute read

    Publication
    Abstract Stairs

    PepsiCo Full Federal Court Decision

    2 July 2024 .8 minute read

    View All

    Connect

    Phone

    +61 2 9286 8253
    (Work, Sydney)
    +61 419 012 283
    (Work)
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