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2003 NSW ANNUAL STATE CONVENTION - BUILDING & RENOVATING YOUR CLIENTS' BUSINESS STRUCTURES

Published on 08 May 2003 | Took place at Fairmont Resort, Leura , NSW

In an environment where professional indemnity insurance is becoming increasingly unaffordable and clients less understanding, it is even more important not to make mistakes. Hence, is it critical to fully understand the structural implications and outcomes of the choices available and understand to what extent they are accepted by the ATO.

The first day focussed on the different structures and provided a head to head comparison to highlight significant difference, strengths and weaknesses.

The second day focussed on the implications arising from the change of owners and from the change of structure, ie. shifting a business or assets from one structure to another.

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

Individual sessions

A Comparison of Structures - Partnership

Author(s):  Ross SELLER This seminar paper provides an overview of partnerships.

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A Comparison of Structures - Sole Traders

Author(s):  Yvette PIETSCH This seminar paper provides an overview of the structure of sole traders.

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Financial Services Reform - How Far Can You Go?

Author(s):  Michael PAYNE-MULCAHY FSR has crept up unawares on accountants and lawyers. It imposes a blanket prohibition on giving financial product advice without being appropriately licensed and takes a broad approach to what constitutes this type of advice. It has cast doubt on whether many accountants and lawyers can continue to provide some of their current advisory services without now being licensed.

This seminar paper highlights major issues to be aware of and indicates the steps the Taxation Institute is taking on behalf of its members.

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Changing Owners

Author(s):  Margaret MCKERCHAR The normal starting point is that a change of owners means that there is a taxable event. This seminar paper explores the exemptions in the context of:
- intergenerational transfers
- demergers
- scrip for scrip rollovers
- buy-outs
- death
- divorce
- other roll overs.

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Changing Structures

Author(s):  Kelvin FITZALAN The normal starting point is that a change of structure, ie. moving a business or assets from one structure to another, means that there is a taxable event. This seminar paper explores the exceptions in the context of:
- sole trader to company
- partnership to company
- unit trust to company
- discretionary trust to company
- company to company
- other roll overs
- sale of going concern
- sale of farming property.

The seminar paper also considers GST and stamp duty consequences.

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Payments to Associated Persons

Author(s):  Neil WICKENDEN This seminar paper covers the following issues:
- payment to spouse
- payment to other relatives
- payment to related entities (s26-35)
- superannuation contributions
- provision of FBT benefits
- PSI issues associated with the above
- interface with Division 7A.

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Service Trusts/Structuring a Professional Practice

Author(s):  Ian R PHILLIPS This presentation covers the following issues:
- the present focus of the ATO on service trusts
- safe harbour rules
- how the commercial bases for service charges are determined.

Ian Phillips referred to a paper presented by David Marks at the National Convention in Adelaide on 27 March 2003. Click here for more details about this paper.

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A Comparison of Structures - Companies

Author(s):  Greg TRAVERS This seminar paper provides an overview of the structure of companies.

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A Comparison of Structures - Trusts

Author(s):  Kevin J MUNRO This seminar paper provides an overview of the structure of trusts.

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