SYDNEY

Level 24
400 George Street
SYDNEY NSW 2000
Tel 61 2 9235 9400

MELBOURNE
Level 5
189 Flinders Lane
MELBOURNE VIC 3000
Tel 61 3 9653 8600

Tax Market Insight August 2014

By Lauren Maunsell, our specialist Tax Recruiter
Battle lines are drawn
As reported in my last market insight, the biggest area of growth continues to be within professional services across the Big 4 accounting
firms and the law firms. Whilst there were a few hires at the beginning of the year in the law firms across Sydney, Melbourne and Brisbane
(Allens and Norton Rose Fullbright), by far the largest hirer of tax professionals has been the Big 4 accounting firms, a trend that shows no
sign of slowing down. Something we have seen over the last quarter, which is a little unusual, is candidates choosing job offers to move to
other Big 4 accounting firms instead of making the traditional move out into industry. The reason for this seems to be that the Big 4 are
offering some candidates (in specialist areas including infrastructure and property for example) salaries which would ordinarily be above
their pay grade and in some cases, have put candidates directly onto the Partner track programs as an inducement to join. Unless the
candidate feels that they want to work in a corporate for other reasons, most corporates struggle to compete with such financial
inducements, sign on bonuses and clear career progression opportunities. Similarly, the battle lines are drawn between the Big 4 firms
themselves who are increasingly trying to poach each others staff by offering incentives including large pay increases, early promotion,
specific mentoring in certain areas, sign on bonuses and partner track support. Consequently, this year I have seen more counter offers and
aggressive buy backs than ever before, including several cases where firms have been able to entice back former staff only months after
they have left to join another firm.

Giving back
As we enter the 2nd half of the calendar year, we are starting to see some interesting trends and subsequent moves that we havent seen
for some time. There have been some senior level hires in the area of government and policy, particularly at the ATO - who have recently
picked up some big names in the tax market including Andrew Mills of Greenwoods & Freehills and Jeremy Hirschhorn of KPMG. The
reason for this seems to be the opportunity for senior tax figures to actually make a difference and be instrumental in changing tax laws
and perhaps even creating a legacy of sorts.

Melbourne feeding frenzy

Over the last 3-4 months we have also seen an increase in in-house commercial tax roles at the mid-senior level including multiple roles in
Melbourne which has finally breathed some life back into the Melbourne tax market after a quiet couple of years. Also on the horizon are
high profile roles with a large Melbourne-based corporate who are re-building their tax function following the introduction of a senior tax hire.
Potentially, these multiple roles will in turn create some gaps in other businesses, thus opening up further opportunities in the Melbourne
market.

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SYDNEY
Level 24
400 George Street
SYDNEY NSW 2000
Tel 61 2 9235 9400

MELBOURNE
Level 5
189 Flinders Lane
MELBOURNE VIC 3000
Tel 61 3 9653 8600

Another large Australian owned, financial services institution is also currently hiring several quite specific roles across Melbourne and
Sydney due to a bit of a shake up post the departure of two senior tax managers within the team. Their tax function should look somewhat
different in the coming months.
Looking forward towards the end of 2014, we expect much more movement than this time last year. These roles will be predominantly in
Sydney and Melbourne with an increase in in-house commercial opportunities as well as the Big 4 continuing to recruit at all levels.
Melbourne should be the busiest market with the most high-profile moves, both for the organisations mentioned above and for several other
senior roles that are yet to be announced.
If you are keen to hear more detail in relation to the above commentary, please do not hesitate to contact me on:
lmaunsell@jmichel.com.au or (02) 9235 9470.

Moves and Restructures

Resources:

Ann-Maree Wolff at Rio Tinto has stepped up into the General Manager Tax Asia Pacific to replace Ross Lyons who moved to
London as Global Head of Tax. The Asia Pacific role will now be based in Brisbane.

Tom DeGeorgio has been appointed Vice President, Group Tax Asia Pacific for BHP Billiton. He relocated from their Americas
business in Houston.

Aoife Deane is now the Head of Tax at Orica, having departed from BHP Billiton Melbourne.

Private Practice & Government:

Jeremy Hirschhorn, previously Lead Partner, Finance Services Tax at KPMG has joined the Australian Tax Office as the Chief Tax
Council.

Debbie Cheung ex Moore Stephens (Melbourne) has joined the Deloitte Financial Services team as Senior Analyst.

Benjamin Butler from ANZ Wealth has moved to PricewaterhouseCoopers Sydney as Manager, Corporate Tax.

Igor Golshtein has moved from DLA Piper in Melbourne to Allens Melbourne as an Associate.

Virginia Tang has moved from the Institute of Chartered Accountants Australia to KPMG in Sydney as Senior Tax Consultant.

Garry Mathoda has moved to KPMG from PricewaterhouseCoopers, joining as Tax Manager.

Financial Services:

Anthony Fitzgerald has joined ANZ Bank as the Head of Indirect Tax from NAB in Melbourne.

Commerce and Industry:

Tanjali Chelliah moved to Thomson Reuters from Caltex, joining as Tax Advisor.

Kevin Jowono from PricewaterhouseCoopers has moved to Downer Group as their Employment Taxes Manager.
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SYDNEY
Level 24
400 George Street
SYDNEY NSW 2000
Tel 61 2 9235 9400

MELBOURNE
Level 5
189 Flinders Lane
MELBOURNE VIC 3000
Tel 61 3 9653 8600

Andrew Martin is now Tax Manager for Rail at Downer, he joins from Deloitte.

Saminda Fernando ex KPMG has been appointed as the new Head of Tax at British American Tobacco.

Eli Braggins has joined British American Tobacco as a Tax Manager from KPMG.

Tino Saladino is now the Tax Manager at Scenic Tours, he joins from PricewaterhouseCoopers.
Please feel free to pass this copy on to those you think will be interested.

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