No - tax avoidance is definitely illegal. Tax minimisation however is a legal strategy, but this arrangement, appears ti be only to avoid tax. No doubt the courts will decide.
I would hardly be surprised that the term, "based on advice received" was used. After all we hear it every day from these frauds who call themselves ministers of the crown - I could not count the number of times that Howard, and Ruddock use those exact words.
The business elite are simply following the protocols of our political elite.
[Elite may be interchanged with corrupt as you see fit]