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Join us for this 1.5-day event dedicated to all that is Division 7A and Trusts!
Day One – Division 7A
As we await the release of draft legislation, practitioners continue to grapple with what the ‘new’ Division 7A rules might look like, The COVID-19 pandemic has further added to the uncertainty surrounding Division 7A as businesses and the economy have never looked so different in such a short period of time.
This event will provide an update of the current state of play of Division 7A, consider the ways COVID-19 has impacted on taxpayers’ abilities to comply and use practical examples and case studies to examine key Division 7A issues.
Day Two - Trusts
For the last five years, Section 100A has been under review, and the ATO has had a Compliance focus on both trusts and 100A. Trusts are wonderful structures that have evolved since they first became used as structures in the 20th century, however, they may no longer be appropriate in some situations. This program will provide delegates with an in-depth understanding of the key developments in Trusts.
February Morning Tax Club
Registration: 7.15amSession: 7.30am - 9.00amTopic: SMSF Update
Topic presenter: Graeme Colley, SuperConcepts
The changes to superannuation legislation from all angles are never ending and keeping up to date with them is a challenge. The first Morning Tax Club for 2020 will keep you up to date with those changes and have a focus on their application to self-managed super funds.
Tax Update presenter: Natalie Hewson, CTA, FMA Partners
March Morning Tax Club
Registration: 7.15amSession: 7.30am - 9.00amTopic: Independent Contractor vs Employee
Topic presenter: Matthew McKee, FIT, Brown Wright Stein
Tax Update presenter: Adam Dimac, Hall & Wilcox
April Morning Tax Club
Session: 7.30am - 9.00amTopic: Death & Taxes
Topic presenter: Dung Lam, CTA, Argyle Lawyers
As the saying goes, “nothing is certain but death and taxes”. Although certain, tax upon death is not a simple affair. In this session, Dung Lam will provide guidance from her experience on the following:
• The application of the CGT rules upon death, including rollovers and other concessions (e.g. main residence and availability of the small business CGT concessions);• Testamentary trusts as a flexible estate planning and succession tool, and the tax traps and tips in structuring; and• Dealing with the impacts of the non-residency of the deceased or beneficiary.
Tax Update presenter: Gillian Tam, Brown Wright Stein
This month's Tax Update will cover:
1. COVID-19 measures (Federal)
2. Greig v Commissioner of Taxation [2020] FCAFC 25
3. Doyle v Commissioner of Taxation [2020] AATA 345
Join us in November for our inaugural 2-day event combining all that is Trusts & Division 7A!
Register for both days and save up to $215!
Can't attend the whole event? Single day registrations available (not available on-line).Day One – It’s all about TrustsIt is expected that by 2022 there will be over 1,000,000 trusts in operation in Australia. While the number of trusts continues to grow, the manner in which they are taxed has become even more complex. The establishment and administration of trusts also raises numerous practical and compliance issues.
This event is aimed at tax practitioners who advise trustees, beneficiaries and others involved in operating trusts and who wish to keep up to date with recent developments relevant to the taxation of trusts. The event will help you answer some key questions, including:- What is the future of trusts under the current Coalition government?- What should I do if my client’s trust is reaching its vesting date?- How are trusts impacted by Division 7A and how is this likely to change? - What do I need to know about section 99B and 100A?- What complications can arise from family trust elections and interposed entity elections?- How will the recent Duties Act changes impact trusts?- What has changed in determining the residency of trusts? Day Two – Division 7AIt’s been over 20 years since Division 7A was enacted, and, despite the passage of time, it remains one of the most complex and challenging provisions in our taxation legislation. Whilst we know reform is on the horizon, there is still uncertainty as to exactly what the future holds for Division 7A. The wait does however present tax practitioners with the opportunity to plan for the future and deal with any Division 7A issues placed on the backburner.
This event will examine the key Division 7A issues faced by tax practitioners including:- Getting the business structure right at the outset and how to restructure out of Division 7A;- Dealing with inherited and obscure Division 7A issues;- What tax practitioners should watch out for;- How to deal with pre-97, or pre-09 loans; and- Topical Division 7A issues for the ATO.
May Morning Tax Club
Session: 7.30am - 9.00amTopic: Working with trust deeds and resolutions
30 June is just around the corner, and drafting of trust resolutions will need to occur soon. While often doing what was done last year will produce the desired result, when something unusual has occurred, some thought needs to go into drafting resolutions and advising on their effect. This session will look at some common cases, but also some unusual matters such as: paying out the cash boost amounts from trusts, dealing with Jobseeker amounts, what occurs where the small business CGT concessions are being applied, and what to do when you are distributing offshore.
Topic presenter: Andrew Noolan, CTA, Brown Wright Stein
Tax Update presenter: Todd Bromwich, Hall & Wilcox
June Morning Tax Club
Session: 7.30am - 9.00amTopic: Year-end Tax Issues
Topic presenter: Jo-anne Hotston, CTA, TaxBytes
It is probably stating the obvious to say this has been a year like no other!
This session will summarise the most important changes for the 2020 year and flag those for 2021. The presentation will include:
The Premier taxation event for Transfer Pricing Professionals
The transfer pricing landscape globally and in Australia is continuing to evolve, leaving it increasingly complex for multinational corporations to keep abreast of legislative changes within international tax and transfer pricing. The conference will include addresses from thought leaders within the profession and the Australian Taxation Office, covering complicated technical issues on hybrid mismatch rules, the interaction of IFRIC 23 with reportable tax positions on transfer pricing and will highlight current transfer pricing matters triggering the ATO focus.
November Morning Tax Club
The Tax Institute’s monthly Morning Tax Club is especially tailored to keep you up-to-date on the latest developments in all areas of tax. Our update will bring you up to speed on the latest advances in cases, rulings and practice and is followed by our special topic which has been expressly designed by experienced tax professionals to help you best advise your SME's and private client groups.
Registration: 7.15amSession: 7.30am - 9.00am
Topic: Lower Company Tax Rate; Bigger Tax Problem?
- A practical overview of the new laws for 2018- How the changes may impact your approach to trust distributions and the use of corporate beneficiaries- Opportunities to structure the timing of large one-off gains to maximise tax effectiveness- How to avoid the franking credit trap- Impact on holding companiesTopic Presenter: Danielle Constantine, William Buck Tax Update Presenter: Belinda Yip, CTA, Deloitte
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