Local Tax Club - Sydney CBD

20 February 2024 | 7:30 AM - 9:00 AM | 1.5 CPD hours

Speaker: Jake Berger, Pitcher Partners

Tax Update presenter: Hayden Rudd, Brown Wright Stein Lawyers

• General principles of interest deductibility (i.e. multipurpose loan and refinancing issues)
• Loans in the name of non-landowners.
• Deductions for vacant land and travel expenses measures.
• Deductibility based in accordance with ownership proportions (what about split level dwelling with separate occupancies?); and
• Particular issues with holiday homes and "genuinely available for rent".

19 March 2024 | 7:30 AM - 9:00 AM | 1.5 CPD hours

Speaker: Graeme Colley, Super Concepts

Tax Update presenter: Lynda ROchas, Brentnalls NSW

The ever-changing superannuation environment means keeping up to date is essential. 

In this breakfast session we will cover:

• The impact of the $3 million super balance cap and how the law is intended to operate
• Developments in the law and administration of non-arm's length income applying to SMSFs
• Opportunities to take advantage of tax benefits of super contributions before the Stage 3 tax cuts take place; and
• Other developments and court decisions on SMSFs and superannuation.

16 April 2024 | 7:30 AM - 9:00 AM | 1.5 CPD hours

Speaker: Rose McEvoy, Brown Wright Stein Lawyers

Tax Update presenter: Aritree Barua, Brown Wright Stein Lawyers

Using case studies, this session will consider the planning opportunities, tips and traps that can arise when client's cease, commence or resume tax residency in Australia. Starting with a quick review of the residency rules for individuals, companies and trusts, the session will use practical examples to explore the tax implications faced in changing residency for private clients.

14 May 2024 | 7:30 AM - 9:00 AM | 1.5 CPD hours

Speaker: Todd Bromwich, Hall & Wilcox

Tax Update presenter: To be announced

In this presentation, we will cover:

• The key to effective distribution resolutions
• The difference between trust income and net (taxable) income and why it matters
• Distributions to non-resident beneficiaries
• Lost trust deeds and trusts that have already vested; and
• Case law update: General trust law, section 100A, Part IVA (and the lesser known sections 100AA and 100AB).

18 June 2024 | 7:30 AM - 9:00 AM | 1.5 CPD hours

Speaker: Jane Harris, ATI, Brown Wright Stein Lawyers

Tax Update presenter: Anna Ritchie, Brown wright Stein Lawyers

This session will provide an update on the latest case law and ATO views on Division 7A. 

The session will include practical tips for getting Division 7A right, including strategies for dealing with Unpaid Present Entitlements, what you need to do before and after 30 June and some recent problems encountered in practice.

23 July 2024 | 7:30 AM - 9:00 AM | 1.5 CPD hours

Speaker: Warren Smith, CTA, Brentnalls NSW

Tax Update presenter: Bradley White, Hall & Wilcox Lawyers

This session will focus on the common practical issues arising from the small business CGT concessions and will aim to provide tips to practitioners in applying the small business concessions in various real world scenarios including business sales, share sales, and property (including primary production property) transactions.

This session will cover the following:

•    Before we start – is it really a CGT asset?

•    Overview of the basic conditions, including look through tests for interests in entities

•    Making best use of the concessions, including the 2 year deferral under the small business rollover

•    Active asset test issues, including the ‘main use’ requirement

•    Satisfying the ‘in connection with retirement’ requirement

•    The treatment of deferred consideration under the small business concessions

•    The accounting and legal treatment of exempt payments made to CGT concession stakeholders; and

•    Documentation, payment, and election requirements; what to do, and by when.

20 August 2024 | 7:30 AM - 9:00 AM | 1.5 CPD hours

Speaker: Lisa To, CTA, Bartier Perry Pty Ltd

Tax Update presenter: Oscar Dougherty, FTI, HWL Ebsworth Lawyers

Estate Planning includes reviewing non-estate assets such as discretionary trusts. Using real life case studies, this session will outline typical client’s objectives for asset protection, tax effectiveness and ease administration in estate planning for discretionary trusts.  The focus of this session is to help your client’s navigate the transfer of control and benefit of the assets of the trust to pass to the next generation whilst preserving their objectives:

•    Passing control: appointor succession, individual trustee v corporate trustee

•    Review the Trust Terms: beneficiaries? power to amend? vesting date?

•    Client's Objectives: Leave the discretion to trustee, hardwire the terms of the trust or wind up the trust?  

17 September 2024 | 7:30 AM - 9:00 AM | 1.5 CPD hours

Speaker: Chris Tsovolos, FTI, Bartier Perry Pty Ltd

Tax Update presenter: To be announced

It is common for clients to structure their affairs such that assets are owned in various entities, including discretionary family trusts, with such trusts increasingly being the main investment vehicle for many families.  The utilisation of discretion family trusts creates additional considerations, particularly in an increasing litigious society. 

This session will discuss the increasing real-life issues that arise in dealing with a discretionary family trust, the obligations of trustees when dealing with beneficiaries, the potential disputes which may arise between beneficiaries and the various strategies which may be implemented.

22 October 2024 | 7:30 AM - 9:00 AM | 1.5 CPD hours

Speaker: To be announced

Tax Update presenter: To be announced

One thing that we know is definitely certain with tax, is that it’s an ever-changing environment and one that practitioners need to constantly be on top of. Whilst we’d love a crystal ball, we can’t yet predict what may be on our radars at the tail end of 2024.  Watch this space for our program updates in 2024!

19 November 2024 | 7:30 AM - 9:00 AM | 1.5 CPD hours

Speaker: To be announced

Tax Update presenter: To be announced

One thing that we know is definitely certain with tax, is that it’s an ever-changing environment and one that practitioners need to constantly be on top of. Whilst we’d love a crystal ball, we can’t yet predict what may be on our radars at the tail end of 2024.  Watch this space for our program updates in 2024!