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Part 1: Technology, tax, and the transformation of the profession

During the COVID-19 crisis and the adoption of widespread work-from-home arrangements, it has become apparent just how heavily dependent we are on technology, and what a vital tool it is for any business or tax practice. In this session, Alan will lead us down the path of technology developments, from basic pebbles through to Artificial Intelligence, including:

• The rise of ‘clever’ tax tools with in-built additional capabilities that go beyond form-fillers
• Data analytics capability of tax solutions
• The use of technology to leverage tax data
• eInvoicing and capturing tax data at the source (POS)
• The evolution of indirect tax capture
• Automating the automatable and creating a more efficient tax preparation process.

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Part 2: Restructuring in uncertain times

Opportunities arise even in bad times when it comes to restructuring into more fit for purpose structures.

This session will review the tools available when considering restructuring including:

• Small business CGT concessions, Small business restructure rollover and general CGT rollovers
• When to use a particular CGT rollover
• What are the common traps to look out for
• Back to back rollovers – is there a Part IVA risk?

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Part 4: Navigating the maze of base rate entities

After what was a two-year epic to reduce the corporate tax rate, involving multiple legislative amendments and extensive ATO guidance, do you fully understand how to work out whether a company is a base rate entity? What was formerly a mundane process of determining a company’s tax rate and its franking rate is now more complicated, and there are a number of anomalous outcomes. This session will cover the intricacies, nuances and subtleties of:

• The reduced corporate tax rate and franking rate, and the impact of legislated further changes
• The meaning of “base rate entity”, “base rate entity passive income” and “corporate tax rate for imputation purposes”, and associated interpretive issues including LCR 2019/5
• The impact of the COVID-19 crisis on a company’s tax rate and franking rate
• Practical examples illustrating the complex treatment of amounts flowing through chains of trusts
• Working out a company’s franking rate, including dividend strategies

Special Offer

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Part 6: The potential cost of forgiving debts

This session will provide a refresher and an update on the income tax issues to consider when forgiving or restructuring debts, focusing on the consequences for debtors under the commercial debt forgiveness provisions. This session will include a discussion of:

• Relevant types of debts and liabilities, and potential carve-outs
• The extended statutory concept of ‘forgiveness’, and how it can apply to debt restructuring transactions
• Valuation rules, and how other tax attributes are reduced and affected
• Intra-group debts – application to tax consolidated groups and commonly owned entities.

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Part 8: Dancing with Division 7A

Serviceability of Division 7A arrangements as we traverse throughharder economic times will be an increasing issue for a number of taxpayers. This session will review the various options available to help manage Division 7A arrangements including:

• Converting term from 7 – 25 years
• Selling assets subject to 25-year term
• Commissioner’s discretion under 109Q and 109RB
• Dealing with distressed borrowers

Special Offer

Register for the entire 10-part 2020 Private Business Online Series and save!