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18TH NATIONAL CONVENTION: FOUNDATIONS FOR THE FUTURE
Published on 01 Apr 2004 | Took place at Grand Hyatt, Melbourne , National
At this year's National Convention, the technical program focussed on the critical tax foundation streams which have emerged from the past few years of radical change. Key principles and trends were examined, along with the challenges they present. Moreover, local as well as offshore tax technical areas were included in the program to cover the full range of delegate practice areas.
Get a 20% discount when you buy all the items from this event.
Individual sessions
Tax Issues in Property Development
Author(s):
Lachlan R WOLFERS
Property Development has re-emerged as a significant commercial activity throughout Australia in recent years. The tax issues associated with this area are often challenging and require a good understanding of the interaction between ordinary income tax, CGT, GST and stamp duty.
Case studies in this seminar paper will deal with the following issues:
This is a slightly updated version of papers presented on 11 March 2004 at the 38th South Australian State Convention held at Sunset Cove and on 2 April 2004 at the 18th National Convention held in Melbourne.
This paper was also presented by Phil Renshaw and Todd Jones at the Tax Keys to Property seminar held in Perth on 24 September 2004.
- subdividing and selling off part of a main residence (ie fulfilling the new Australian dream of converting the 1/4 acre block into quick cash)
- tax issues in demolishing a house and constructing new townhouses (becoming a one-off developer)
- speculative property development tax issues.Materials from this session:
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Tax Practice - The Deputy Inspector General's Perspective
Author(s):
Steve CHAPMAN
In this paper, the Deputy Inspector General of Taxation provides a summary of the office's current projects and plans for 2004.
Materials from this session:
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Managing Risks in a Tax Audit - The Tax Man Cometh
Author(s):
Michael BERSTEN
This paper deals with strategies for managing tax risks in a tax audit including:
- risk assessment
- relationship management with the ATO
- responsibilities of taxpayers and advisers
- resourcing and co-ordinating the taxpayer team
- resolution strategies
- managing taxpayer and adviser records and other documentation prior to, and during, the conduct of an ATO audit.
Materials from this session:
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Current Tax Foundations - Moving Targets
Author(s):
Tony STOLAREK
This paper examines the fundamental areas underpinning tax advisings in 2004 including:
- the tax reform scorecard
- tax risk assessment given the 2003 ATO initiatives in corporate governance and tax compliance, ASX governance initiatives and CLERP9
- tax technical challenges for advisors in 2004
- critical issues in international tax, income tax and indirect tax.
Materials from this session:
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Stamp Duty - Cross Jurisdictional Issues
Author(s):
Harry LAKIS
This paper will guide you through the 'must know' provisions of the various State Stamp Duty laws and reorganisation relief including the claw back provisions. Focus areas include:
- stamp duty - background - jurisdiction/nexus
- shares/units - nexus
- goodwill-IP - nexus and apportionment
- trading stock, plant and equipment, debtors/receivables
- corporate reorganisation relief.
Materials from this session:
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Superannuation - An Update
Author(s):
Sharyn LONG
This paper gives a thorough analysis of the issues to focus on in 2004 including:
This was also presented at the Superannuation seminar held in Perth on 27 May 2004.
- recent and proposed legislative changes
- safety in super - licensing requirements on SMSF Trustees
- FSRA - future direction in super fund advising
- the ATO 2004 Audit Focus (auditing funds and 'auditing' auditors) and the SMSF 2004 compliance checklist.Materials from this session:
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This Capitalisation/Cross Border Financing
Author(s):
Richard SHADDICK
This paper covers the key tax issues for clients involved in cross border transactions, including:
- debt financing and thin capitalisation
- thresholds and debt deductions
- foreign controlled Australian entities
- Australian entities operating internationally.
Materials from this session:
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Winding up a Company
Author(s):
Allan W BLAIKIE
This paper focusses on income tax and CGT issues arising from the sale of a business and subsequent liquidation of a private company.
- the tax impact on pre and post CGT assets
- dividend distribution issues and pre CGT and tax-free amounts
- franking account issues under the new rules.
Materials from this session:
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Foreign Exchange Gains and Losses
Author(s):
David ROMANS
This paper covers TOFA reform and key new FOREX issues and will provide answers to the following questions:
- when does the new regime commence?
- how are foreign exchange gains and losses taxed?
- what transition is there into the new regime?
- what compliance saving choices are there?
Materials from this session:
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Vesting of a Trust
Author(s):
Tony POINTON
Advisers need to carefully monitor a range of issues when using trusts as a planning tool. This paper explores:
- circumstances in which a trusts vests
- fixed / discretionary trusts
- foreign trusts and S99B
- income tax, GST and stamp duty implications.
Materials from this session:
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Dissolving a Partnership
Author(s):
David W MARKS
This paper focusses on current tax issues involving dissolution of a partnership.
- death of a partner / retirement of a partner / distribution of assets
- introducing a new partner / WIP
- State and Territory partnership laws
- partnership interests vs. interest in partnership assets.
Materials from this session:
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Tax Management of the Client Investment Portfolio
Author(s):
Stephen CARPENTER
The important aspects of a range of current financial investments and their tax treatment are examined in this paper including:
- absolute return and hedge funds
- emerging markets funds and private equity
- hybrid securities
- exchange trade funds
- warrants.
Materials from this session:
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Pensions and Benefits - Estate Planning
Author(s):
Daniel BUTLER,
John SUDANO
This paper covers the main rules affecting benefit and estate planning issues for clients, including:
- the pension benefit - complying, allocated, flexi and other pensions, including commutation
- pre planning for pensions
- recent changes to pension rules
- binding nominations and family law risks.
Materials from this session:
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Transfer Pricing: Recent Developments
Author(s):
Zara RITCHIE
Transfer Pricing continues as a major ATO focus area. This paper examines:
- update on the ATO compliance program, schedule 25A, risk factors and managing your risk portfolio
- the status of Transfer Pricing Risk Reviews
- cross-border financing - low interest loans and service fees
- managing cross-border arrangements for services
- advance pricing agreements - recent trends and experiences.
Materials from this session:
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Developments in the Taxation of Trusts and Beneficiaries
Author(s):
Terry MURPHY
This paper considers recent legislation, case law and ATO developments in the taxation of trusts and their
beneficiaries. Focus areas include:
- structuring trust transactions with the new s109UB
- streaming of income and capital gains by discretionary trusts
- a review of the proportional approach to taxation of distributions - common traps with trustee distribution
resolutions
- deductibility of interest incurred by Trusts following TR 2003/9 - in particular, pay-out of unpaid distributions
- tax preferred distributions by fixed trusts and CGT impact
- Div 152 issues impacting charities, trust deed drafting and Family Trust Elections.
Materials from this session:
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A Broader Look at Hedge Funds
Author(s):
Marco DI SEBASTIANO
Client investment portfolios are now showing a great range of diversification with 'smart' investing now in vogue.
This convention paper examines the taxation issues determining the tax treatment of complex products.
Materials from this session:
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Intellectual Property and Black Hole Expenditure
Author(s):
Andrew O'BRYAN
Focus issues for this critical business asset will include:
- Division 40 deductions
- assessability on disposal
- exploitation and licensing
- research and development.
Materials from this session:
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Tax Strategies & Superannuation Investments
Author(s):
Stephen HEATH
Issues covered in this paper include:
This paper was also presented at the 18th National Convention in Melbourne on 2 April 2004.
- employer ETPs
- SMSFs as planning vehicles - undeducted contributions, business real property and interface with small business concessions
- investment standards - unit trusts and in house assets, joint ventures and private company shares
- maximising pension rebates.Materials from this session:
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Your Client, the Property Investor/Developer
Author(s):
Rob JEREMIAH
This paper focusses on:
- selecting the appropriate holding entity
- property development business or investment holding
- the CGT concessions
- main residence exemption.
Materials from this session:
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SMEs Going Offshore - Chart Your Course
Author(s):
Ross SELLER
This presentation provides a practical overview of international tax issues facing Australian-based SMEs:
The paper accompanying this presentation is available from the Gadens Lawyers website. Please click here to download it.
- corporate residence - the current landscape
- Schedule 25As from a practical perspective
- representative office and permanent establishment issues
- funding and thin capitalisation considerations
- TOFA CIC and FIF regime issues.Materials from this session:
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