Tracy McCormick

Executive summary

Tracy is a Director, Corporate & International Tax with BDO based in Sydney. She brings deep and practical expertise with over 25 years’ experience including global head of tax positions as well as corporate and international tax advisory and transaction structuring positions.

Trusted as an extension of her clients' teams, Tracy brings a wealth of tax and legal experience to every engagement. She specialises in distilling the tax complexities of commercial arrangements, both domestic and cross-border, to deliver practical, workable solutions. Known for her commercial mindset, Tracy helps clients understand, identify and actively manage their tax risks, implement robust controls, and create and maintain clear governance and documentation trails. Assisting clients gain their Board’s confidence that tax risks are appropriately identified and managed is core to Tracy’s approach.

Her background includes leadership roles in global trading and investment services, banking, private equity arrangements, energy and advising large corporate groups, both inbound and outbound investors on transactions, restructures and Australian Taxation Office (ATO) engagement.

Expertise

• Corporate tax compliance and advisory
• International tax
• Tax risk and governance
• Mergers and acquisitions advisory
• ATO reviews and disputes

Experience

Tax leadership, governance and complex technical matters

• End-to-end tax management including compliance, advisory and governance across multiple jurisdictions and tax types
• Authored and implemented tax policy positions, aligning contractual commitments with Board directives, operational processes and reporting outcomes
• Designed and executed control testing, workflow reviews and training programs to uplift tax knowledge and governance across multiple operational teams.

Transactions, restructuring and ATO engagement

• Led and implemented global restructures and refinancing arrangements both in-house and as an adviser, including tax due diligence, structuring and post-transaction integration across domestic and cross-border transactions:
  • Developed and implemented a full global restructure to facilitate the future sale of sections of a business to third parties
  • Developed and managed the implementation of a global refinance of a large outbound investment group
  • Managed global deals including liaising with offshore counterparts in legal, tax and accounting in each jurisdiction
• Managed ATO engagement including reviews and audits, private ruling support and responses to medium and high-risk tax positions
• Advised on corporate and international tax issues including corporate residency, permanent establishment, controlled foreign company and foreign income tax offsets, withholding taxes and double tax treaty interpretation.

Qualifications and affiliations

• Bachelor of Laws
• Bachelor of Economics
• Graduate Diploma of Legal Practice
• Solicitor, Supreme Court of New South Wales, Western Australia and Queensland
• Member, Law Society of New South Wales
• Member, Taxation Institute of Australia
• Member, CA ANZ