Structuring your practice paper

Member Price: $57.00

Non Member Price: $75.00

Publication date: 09 May 06

Source: SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE

Abstract:

The ATO review of service trusts and introduction of Professional Standards Legislation and the Service Trusts ruling will have changed the landscape for your practice. This paper considers those changes and discusses various practice entity options, including:

  • asset protection
  • does Professional Standards legislation really limit your exposure?
  • service trusts - what future?
  • CGT concessions for alternate structures
  • goodwill v 'intangible asset inherently connected' with a business
  • partnership of trusts - do they have a place in accounting firms?
This paper was originally presented on 5 May 2005 at the “39th South Australian Convention” held in the Barossa Valley. It also includes some minor updates made for presentation at the “What’s New in Structuring Professional Practices?” seminar held on 9 May 2006 in Adelaide.

Author profile:

Author Photo - Kenneth Schurgott CTA-Life
Kenneth Schurgott CTA-Life
Gordon Cooper is a chartered accountant in sole practice as a tax consultant. He is an Adjunct Professor in the School of Taxation and Business Law (Incorporating Atax) at the University of New South Wales. He is a frequent speaker at seminars having delivered nearly 500 papers and he is a regular contributor to professional publications. Gordon has a long list of professional involvements including: " He was an inaugural member of the Tax Practitioners Board. " He is a former President of the Taxation Institute of Australia. " He is Chairman of the Committee of the Australian Branch of the International Fiscal Association. " He is the Patron of the Australasian Tax Teachers' Association. In June 2003 he was awarded the AM in the Queen's Birthday Honours for. "Services to the tax profession and to the community as an adviser on national taxation and legislative reform, and through education and professional organisations".
Current at 29 January 2016
Click here to expand/collapse more articles by Ken SCHURGOTT.
 

 

This was presented at 39th South Australian State Convention: A Fine Blend - Barossa Valley.

Get a 20% discount when you buy all the items from this event.

Individual sessions

CGT small business concessions

Author(s):  Paul INGRAM

Materials from this session:


Structuring your practice

Author(s):  Ken SCHURGOTT

Materials from this session:


The value of tax effective investments for retirement income

Author(s):  Cameron RHODES

Materials from this session:


Contractor or employee: current tax issues for the payer

Author(s):  Grantley STEVENS

Materials from this session:


Your client wants to expand overseas - what do you do now?

Author(s):  Con TRAGAKIS

Materials from this session:


Tim Lebbon's Market value: a vital tax concept

Author(s):  Tim LEBBON

Materials from this session:


Stephen Heath's Market value: a vital tax concept presentation

Author(s):  Stephen HEATH

Materials from this session:


Licensing in agribusiness - the hidden traps

Author(s):  Garry WINTER

Materials from this session:


Underlying tax problems in property development

Author(s):  Patrick C GALLAGHER

Materials from this session:


Choices in selling a business

Author(s):  Ian SNOOK

Materials from this session:


Company and trust loans approaching 30 June 2005 - issues to consider

Author(s):  Terry LEWIS

Materials from this session:


GST: some real issues

Author(s):  John W DE WIJN,  Jeff TYLER

Materials from this session:


Digging into property development

Author(s):  Patrick C GALLAGHER

Materials from this session:


Part IVA and Division 165: where are we now?

Author(s):  Justice D Graham HILL

Materials from this session:


Super pensions for SMSFs: a tax revolution in the 21st century

Author(s):  Suzanne MACKENZIE

Materials from this session:


Further details about this event:

 

Copyright Statement