Full Convention Program

WEDNESDAY 12TH MARCH 2008
4.30pm – 5.45pm	Registration (5.45pm buses depart for National Wine Centre)
6.00pm – 7.00pm	Official Convention Opening at The National Wine Centre

THURSDAY 13TH MARCH 2008
8.15am – 9.15am	Registration
9.15am – 9.30am	Session 1: Welcome & Opening Address Speaker: Sue Williamson, President Elect, Taxation Institute of Australia
9.30am – 10.00am	Session 2: Climate Change Taxation Issues Suggested Speaker: David Russell QC Alternative proposed measures to limit climate change Tradable quotas – technical issues including quota allocation and duration, capital or revenue, grandfathering, Integrity issues and use of carbon taxes as a transitional measure for a tradable quotas scheme Carbon emissions taxes including models, implementation of an internationally harmonised domestic emissions tax – technical issues and international co-operation Revenue recycling issues Emissions taxes v. tradable quotas – an alternative view
10.00am - 10.30am	Morning Tea
10.30am - 11.30am	Session 3: Tax Issues for Private Equity Transactions Speaker: Peter McKnoulty - McCullough Robertson Tax structuring issues – demergers, consolidations, scrip-for-scrip transactions Recent examples of structuring private equity deals Extracting value for the vendors, including share buy-backs Earn out arrangements Focus will be on the target / vendors

	SME STREAM	CORPORATE STREAM	HOT TOPICS STREAM
11.35am – 12.35pm	Session 4/1: Agribusiness – Topical Tax Issues Speaker: Peter Siebels – KPMG This session will consider the tax issues in the agribusiness industry in light of drought and the environment, as well as the ATO's views on MIS agribusiness schemes. Case studies will examine the following: Current issues in MIS - is it a business/applying for a product ruling Taxation of water rights Tax issues for exporters of produce FMDs - the new scheme Structuring inter generational change CGT - property and primary production improvements Role of super in holding assets Brave new world - environmental tax issues & opportunities	Session 4/2: International Acts: Current Developments in Tax Treaties Speaker: Andrew Mills - Greenwood & Freehills Pitching your Big Top - Developments on permanent establishments The Take at the Gate – The new debt collection and access powers and extensions to exchange of information I’ve never seen that before! - Treaty interpretation in light of GE Capital Finance Pty Ltd What’s happening in the other tent? - OECD developments – Attribution of Profits, Non-Discrimination, Arbitration and others Clown Cars - Special purpose vehicles and some overseas developments Recent ATO views regarding copyright assignments	Session 4/3: Litigation & Audit Strategies and Client Professional Privilege – Where are we now and where are we heading? Speaker: Sue Williamson - Clayton Utz Pre-litigation strategies and obligations Legal professional privilege - strategies and obligations The ATO - model litigant? Declaratory proceedings and other administrative law actions Part IVC proceedings Discovery FOI Burden of proof Negotiation and settlement
12.35pm – 1.50pm	Lunch
1.50pm – 2.50pm	Session 5: Commissioner’s Address Speakers: Michael D’Ascenzo and Bruce Quigley – Australian Taxation Office
2.55pm – 3.55pm	Session 6/1: Property Development – GST Speaker: Lachlan Wolfers – KPMG Many property developers are still getting it wrong. From small developers building a couple of units, to larger complexes with many apartments, there are numerous GST issues to be addressed to ensure that any ATO audit activity is not a problem. With Australia's ageing population, an increase in the number of retirement villages has also created some GST traps. The key issues are: Retirement villages Margin scheme overview including a look at rulings and cases Developments hard to sell - let's rent it out. A look at the change of purpose rules Calculation of the ITC clawback on change of purpose	Session 6/2: Current Issues in Accounting for Income Tax Speaker: Ronen Vexler – PricewaterhouseCoopers A practical examination of tax effect accounting issues under AASB 112 Consideration of potentially changed outcomes under the exposure draft for revised IAS 12 and highlight issues to be addressed in preparing for IAS 12 Key issues to be considered in preparing for implementation of the revised IAS 12 Examination of the complex technical and commercial aspects of accounting for uncertain tax positions	Session 6/3: Outbound Investment by Private Clients - What Structure to use? Speaker: Mathew Chamberlain - Ernst & Young What foreign entity to use for the investment, ie foreign company, branch, partnership etc Profit and cash repatriation issues and opportunities Funding the investment Impact of tax treaties, including allocation of taxing rights and withholding taxes etc Treatment of related party transactions Traps for young players Issues and opportunities arising from the interplay between Australian tax law and the tax law of the local jurisdiction Examples of specific issues affecting investments in certain jurisdictions
3.55pm – 4.30pm	Free Time
4.30pm SHARP	Bus pick up for Social evening
4.30pm – 9.00pm 10.00pm	Social Evening Options

FRIDAY 14TH MARCH 2008
	SME STREAM	CORPORATE STREAM	HOT TOPICS STREAM
9.00am -10.00am	Session 7/1: What are the current tips and traps to be aware of when choosing a business structure? Speaker: Andrew Noolan - William Buck This session will cover some of the issues to consider when choosing a business structure, be it a company, a unit trust, a discretionary trust or a partnership. The focus will be on highlighting structuring elements you want to include and those you want to exclude from a structure, including: Dividend access shares and how they can be used following the recent changes to the small business CGT concessions Unit trusts and their use as superannuation investment vehicles Discretionary trusts and the problems of choosing an appointor	*Session 7/2: The Impact of McNeil* on Market instruments? Speaker: Ian Stanley – Barrister** The High Court decision in McNeil The ATO’s post McNeil position The Treasury response – a complete answer for investors and issuers, or a work in progress?	Session 7/3: National Harmonisation of Payroll Tax – Big Change or Minimal change Speaker: David Raphael – NSW Bar Harmonisation of Payroll is now happening with possible flow on effects in the other states including: What impact the harmonisation project will have for each of the States The changes to grouping rules and discretion to exclude Cross border businesses Developments in the area of what is covered by taxable wages Developments in the area of employee share schemes and options and trust distributions Developments in the traditional area of contractors v employees
10.05am – 11.05am	Session 8/1: Business Buy Sell Agreements Speaker: Paul Hockridge - Deloitte Overview of buy/sells CGT treatment of life and trauma proceeds Who should hold insurance? CGT on non-arm’s length transfers Insurance trusts Using superannuation funds Deductibility of premiums GST Stamp duty Debt forgiveness	Session 8/2: Division 250 - Impact on Contracting with Tax Exempt Bodies (including government) Speaker: Don Green - Ernst & Young Impact of new Division 250 on: Businesses contracting with government, charities, hospitals and other tax exempt bodies Leasing property (including commercial buildings) to tax exempt bodies Providing finance to businesses holding such contracts with tax exempt bodies.	Session 8/3: Tax and Religion Speaker: Ash Chotai - Chotais Chartered Accountants Prohibitions against usury Division 7A and FBT issues Debt / equity problems Church bonds Fiduciary duties Islamic banking GST issues for religious institutions Beneficial trusts Issues for not for profit religious organisations Political lobbying Charities and donations
11.05am – 11.35am	Morning Tea
11.35am – 12.35pm	Session 9/1: Current Issues in the Taxation of Trusts Speaker: Mark Robertson – Barrister-at-law Present entitlement under unit trusts Losses and the rule in Upton v Browne Payments to trustees Recent cases including Cajkusic; Pearson; CPT Custodian; Raftland; Di Lorenzo	Session 9/2: Governance and Tax Risk and Tax Risk Management (TRM) - Current Best Practices Speaker: Miquel Timmers - Macquarie Goodman Group The Commissioner’s correspondences to Boards and Chairman (Why TRM?) Corporate Governance and TRM (Who are the real stakeholders?) TRM as a component of a holistic tax management structure (Why not TRM?) An example of “how to” of TRM (As compared with “why”) An “internal manager’s” v. an “external adviser’s” view of risk management (How not to?) Restricted access to risk management materials (When not to?)	Session 9/3: Tax Consolidation for the Generalist – What you really need to know Speaker: Sam Howard – Ernst & Young Update on emerging issues December ‘04 announcements December '05 announcements May '07 announcements Due diligence issues and trends Exit ACA calculations Single entity rule Entry and exit history
12.35pm – 2.00pm	Lunch
2.00pm – 3.00pm	Session 10/1: Coming to or Leaving Australia – Is there a Tax Problem? Speaker: Megan Field – Deloitte With individuals travelling between countries more and more in their career, it is essential for advisers to be aware of the range of tax issues that affect people either leaving Australia to work overseas or coming here either temporarily or permanently. This session will consider some of the main domestic tax factors that need to be addressed by 'travelling' income earners including:- Capital Gains Tax and how it applies to: temporary residents taxpayers leaving Australia permanently taxpayers coming to Australia permanently Superannuation and the tax implication of How does it work if I am a temporary resident? Departing temporary residents How do I bring my super to Australia? Bringing super to Australia	Session 10/2: Tax Indemnities on Sale of Entities Speaker: Teresa Dyson - Blake Dawson Waldron Identifying the tax risks The hidden risks Time limitations – the amendment period Consolidation Tax sharing agreements Running the objection/appeal process Access to information Who will be in charge of the tax returns?	Session 10/3: Liability Management in a Professional Practice Speaker: Brian Patterson - PricewaterhouseCoopers Sources of possible liability How to protect yourself The National Professional Standards scheme The Accounting Professional and Ethical Standards Board The new Tax Agent rules Some "real life" case studies
3.05pm – 4.05pm	Session 11/1: Cloning or Splitting Discretionary Trusts Speaker: Ken Schurgott - Cosoff Cudmore Knox This session will tackle the difficult issues thrown up when using trust splitting or cloning techniques for succession planning or wealth preservation. Case studies will be used to demonstrate the following:- Technical problems with CGT events A1, E1 and E2 How to bring into existence a new trust Shifting value to the new trust Creditors following assets to the new trust The incidence of stamp duty Keeping an eye on Part IVA	Session 11/2: Capturing Export Opportunities – The Role of Austrade Speakers: Rob Hauker and Patricia Moessinger - Austrade There is help available to take the business activities of your clients offshore including: The Austrade International Network of Offices How Austrade can Assist in Securing Export Sales How to Offset Overseas Marketing Costs through the Export Market Development Grants Scheme Are you aware of the numerous other government grant schemes that are available?	Session 11/3: Comparisons and Contrasts of Stamp Duty Land-Rich Rules with Non-Resident CGT Rules – Carry-over Lessons from the State Context Speaker: Harry Lakis – Barrister Comparing the CGT and stamp duty regimes Taxable Australian real property (CGT) v real property (stamp duty) How indirect interests are treated Non portfolio interest test (CGT) v relevant interest (stamp duty) Principal asset test (CGT) v ratio of land interests to total assets test (stamp duty) Valuations and allocation of value to various assets Planning issues and relevant stamp duty cases
4.05pm – 4.35pm	Afternoon Tea
4.35pm – 5.45pm	Tax Unexpected Graeme Cooper investigates some of our tax system’s more arcane curiosities, assisted by a panel of delegates in a Q&A style-session. Uncover some of the obscure and idiosyncratic regimes hidden in the tax system; learn where some of the traps are lurking. In this session we will plumb the depths of a selection of odd and obscure tax regimes, the history behind them and what they mean today. The best way to avoid encountering surprises is to be introduced to them first – meet them ahead of time. That’s what we are going to do.
5.45pm – 7.30pm	Free Time
7.30pm – 8.00pm	Pre Dinner Drinks
8.00pm – Midnight	Convention Dinner

SATURDAY 15TH MARCH 2008
9.00am -10.00am	Session 12: Justice Hill Memorial Lecture Speaker: Justice Tony Pagone QC The distinction between income and capital has been the pivotal issue on which most tax issues turn since the Commonwealth imposed income tax. When capital gains tax was introduced it was anticipated that the distinction between income and capital would becomes less significant. To the contrary the distinction is one gaining more and more attention. In this session Justice Pagone will focus on recent developments in the income/capital debate including: The reasons why the distinction remains so central to the Australian tax system The impact of more recent judicial decisions including McNeil If the judgement has been given, the first decision relating to the debt/equity provisions.
10.00am -11.00am	Session 13: Selling out - Tax Issues for the Baby Boomer making a Sea-Change/Tree-Change Speaker: Brenton Ellery – Edwards Marshall The success of the baby boomer generation comes with some tax headaches - with many wanting to move towards a more relaxed lifestyle it will be important that advisers are aware of the myriad of tax issues that will need to be addressed to ensure that the sea change is a happy one and not too taxed. Case studies will examine: Ways of selling out of the business: Using small business CGT concessions for best advantage Sell the business or the shares? Which concession works best for you? Liquidating the family company Dealing with businesses owned by trusts Intergenerational change - should I set up a testamentary trust in my Will? Superannuation - tax free money for life?
11.00am -11.30am	Morning Tea
11.30am -12.30pm	Session 14: Insolvency Issues Speaker: Craig Bowie – Minter Ellison ATO priority? Risks for directors and officers Potential defences PAYG recovery provisions Liquidator's clearances
12.30pm	Convention Close Sue Williamson, President Elect, Taxation Institute of Australia