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2008 North Queensland Convention

Published on 16 May 2008 | Took place at Hilton, Cairns, QLD

The theme for this convention was "Tax Safari". A range of disperate topics were covered including:

  • CGT
  • valuing a business
  • estate planning
  • superranuation changes
  • the ATO and the Practitioner
  • environment/carbon trading
  • managing ATO litigation.

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

Individual sessions

The lay of the land – Annual tax update

Author(s):  Stephen GRAW This paper gives an update on relevant case, legislative and ruling changes throughout the past 12 months as they impact upon the tax practitioner.

Materials from this session:

Tax and climate change – New horizons for tax practitioners

Author(s):  David RUSSELL

This paper covers:

  • 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.
Materials from this session:

Managing litigation with the ATO

Author(s):  John ANDREWS

This paper covers:

  • ATO investigative powers
  • getting it right the first time
  • the onus is on you
  • tax appeals and objections
  • responding to recovery proceedings
  • payment arrangements and other options.
Materials from this session:

Identifying a rare species: Valuing a business

Author(s):  Wayne LONERGAN

This paper covers: 

  • valuing small businesses
  • valuation impact of the current interest rate climate
  • pre-tax or post tax?
  • rules of thumb and their acronym
  • are the courts' views changing?
  • implications of single experts regime
  • valuation issues in tax and duty disputes.
Materials from this session:

Feathering the nest – The CGT business concessions

Author(s):  Richard J FRIEND

This paper covers:

  • you don't have to be "small"
  • why SBE is so much better than STS
  • why a free thinking spouse is great for tax planning
  • the benefits - and pitfalls - of not being connected
  • how losing money running a coffee shop can save you millions
  • using the concessions to maximise super.
Materials from this session:

Healthy eco-systems: The ATO and the practitioner – developing a working model

Author(s):  Justin DABNER During the last decade the ATO hierarchy has promoted a policy of moving the relationship with the profession from the traditional adversarial model to a co-operative partnership model. A number of other countries are watching this Australian initiative with interest as they embark on or consider a similar course. However whilst there may be much to commend a co-operative relationship the model is not without its difficulties. Issues as to the integrity and transparency of tax administration, conflicts of interest and even the authority and capacity to implement the model arise.

In the last two years Justin Dabner has been engaged in a project examining the issues surrounding the ATO's attempt to implement the partnership model. Interviews have been conducted with both Australian and New Zealand practitioners and representatives of the ATO and IRD (NZ). This presentation reports on the issues that have been encountered by both tax practitioners and tax administrators and the likely future direction.

Materials from this session:

The cycle of life – Estate planning

Author(s):  Craig SPINK

This presentation covers:

  • what do the different generations need?
  • the boom of superannuation - a succession perspective
  • the passing of assets to the X's and Y's
  • binding financial agreements and succession planning
  • putting together the plan - what's the value in it?
Materials from this session:

Highlighting migration patterns: International tax

Author(s):  Belinda MARSCHKE

This paper covers: 

  • temporary residents
  • CGT and non-residents
  • current topics, issues and opportunities.
Materials from this session:

New changes to superannuation allowing borrowing

Author(s):  Peter VILAYSACK

This paper covers: 

  • the new laws - sections 67(4A) and 71(8)
  • borrowing issues
  • special trust issues
  • transfer of legal title
  • limited recourse arrangements.
Materials from this session:

Safari transportation: boats, planes and cars

Author(s):  John NEWBY

This paper covers:

  • new rules on deductions for boat ownership costs
  • what is the right depreciation rate for planes?
  • quirks and pitfalls for cars, including FBT, packaging, deductions and luxury vehicles.
Materials from this session: