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21st National Convention: Beyond the Sea
Published on 05 Apr 2006 | Took place at Gold Coast Convention and Exhibition Centre, Broadbeach, Qld, National
After the waves of tax reform over the past two decades it is time to go beyond the seas of change and reflect on key fundamental issues consolidating our knowledge.
Three streams and over 25 technical sessions were offered at the convention. Topics catered for many areas and levels of knowledge.
The SME Hot Topics stream focussed on topics that affect SME clients, and included sessions on discretionary trusts, non-resident beneficiaries of trusts, superannuation, going forward with or from service trusts, the key changes in the last 12 months impacting on structuring for SME clients and loans.
The corporate issues stream focussed on a number of issues of specific interest to corporates including the ATO's areas of issue in consolidation, international tax reform, employee share plans and offshore expansion among others.
The dealing with assets and property stream covered areas which are of interest to many practitioners including GST and CGT issues associated with assets/property and transactions affecting them, market value and why it is so important, the provisions that the proposed Division 250 is not replacing intangible property and lastly capital allowances.
Get a 20% discount when you buy all the items from this event.
Individual sessions
Section 8-1: Making certain that you receive what you are entitled to
Author(s):
Allan W BLAIKIE
Section 51 has been one of the most litigated provisions of our tax legislation. In 1997 it was replaced by section 8-1. This paper covers how these provisions have been interpreted and applied by the ATO and by the Courts since 1997 including consideration of:Materials from this session:
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A new relationship with the tax profession
Author(s):
Michael D'ASCENZO
In this paper the Commissioner discusses significant issues for Tax Practitioners.
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Understanding your trust deed
Author(s):
John CIARDULLI,
Rob JEREMIAH
This paper is a practical guide for working with trust deeds, focussing on what words in the trust deed mean, some useful tips, issues to consider and traps to avoid. Including:Materials from this session:
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Effective implementation of a tax plan
Author(s):
AH (Tony) SLATER
In many cases the taxpayer has critical problems in succeeding in their dealings with the ATO (or subsequently on appeal) because of aspects concerning the transaction that have been overlooked when implementing the arrangement. This paper covers:Materials from this session:
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Debt equity rules: emerging issues
Author(s):
Ernie CHANG
This paper covers those issues currently causing concern including:Materials from this session:
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Capital allowances
Author(s):
Michael HENNESSEY
Has Division 40 thrown up additional issues compared to the depreciation/amortisation regimes previously applying? This paper covers the following topics:Materials from this session:
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Non-resident beneficiaries - income tax
Author(s):
Terry MURPHY
What are the implications of a non-resident becoming entitled to income, capital or control of a closely held trust especially in the context of generational change? This paper includes:Materials from this session:
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International tax reform - three years on
Author(s):
Richard SHADDICK
This paper is a progress report on the 2003 reform announcements including:Materials from this session:
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Intangible property
Author(s):
Roan FRYER
This paper covers how the taxation of intangible property is treated and whether it is any different to tangible property. Topics covered include:Materials from this session:
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Should you be moving on from Service Trusts?
Author(s):
William (Bill) D THOMPSON
Many are saying that Service Trusts have become a compliance nightmare - should you replace them and what are your options? Including:
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"Market Value" - important, relevant, critical
Author(s):
Jim MCMILLAN
Topics discussed in this paper include:Materials from this session:
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The tax consequences of Employee share plans
Author(s):
Sarah BERNHARDT
An update on the current state of play in respect of employee share and option plans including:Materials from this session:
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Superannuation - Current issues in the contributions phase
Author(s):
Allan MCPHERSON
Addresses current issues in the context of SMSFs in the contributions phase including:Materials from this session:
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Expanding your business offshore
Author(s):
Con TRAGAKIS
This paper includes a case study to demonstrate the practical issues including:
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GST and property
Author(s):
Graeme COTTERILL
Topics to be discussed in this paper include:
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You've worked hard to earn it; Keeping it is even harder - Structuring for asset protection
Author(s):
Mark WEST
The environment in which practitioners and their clients operate is constantly changing - key matters from the past 12 months in tax and non-tax areas affecting how we can manage asset proctection issues within our tax effective business and investment structures. Issues includes:Materials from this session:
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The major continuing compliance issues for ATO on Consolidations
Author(s):
Peter COAKLEY
Addresses the major issues concerning compliance with the consolidations regime which the ATO has identified and addressed during the 12 months prior to the convention. Including messages for:Materials from this session:
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The anti-avoidance provisions other than Part IVA - How relevant are they to your property dealings?
Author(s):
Mark ROBINSON
We have focused on Part IVA very heavily over the past few years but are there other beasties lurking which we should not lose sight of least the consume us? Whare are they? How have they been applied? How is the Federal Cpurt likely to approach them? Including:
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Tax Traps for SME loans
Author(s):
Andrew O'BRYAN
What has happened in the last 12 months concerning loans to and from entities including:Materials from this session:
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Will my deductions be disallowed under Division 16D or s51AD or the new rules replacing them?
Author(s):
Michael WILEY
The government has been grappling with a new regime to regulate the allowance of deductions where government bodies, other tax exempts and non-residents lease assets from private owners, are involved in certain financing transactions or where there is the private provision of public infrastructure. This session looks at where they are up to, including:Materials from this session:
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What is "best practice" for Practice Management?
Author(s):
Neil EARLE
We will examine "best tax practice" strategies to assist in dealing with the tsunami of change that hit practices in 2000, including:
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The current imputation system - Traps and opportunities
Author(s):
Jane MADDEN
Examines the Imputation System as it currently operates, including:Materials from this session:
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Property Syndication - The Income Tax and GST Issues
Author(s):
Lachlan R WOLFERS
A number of recent cases and ATO rulings have significantly impacted on the income tax and GST treatment of property syndicates. This is an emerging area of tax with big dollars at stake. This session will examine:Materials from this session:
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How fixed is your trust - can you assume that it will survive a change of the ATO's present view?
Author(s):
Karen ROOKE
This paper was written for the Taxation Institute of Australia’s National Convention in April 2006. It examines the “vested and indefeasible interest” test in our taxation legislation, which is perhaps best known in the context of the “fixed trust” provisions but has a number of other roles to play. The paper looks at the different ways in which the test applies in the legislation, the difficulties in its application, and the potential impact of the High Court decision in CPT Custodian Pty Limited v Commissioner of State Revenue on the test.
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Professional Liability - Minimising the risk of adverse civil consequences for tax practitioners
Author(s):
Jennifer BATROUNEY
Focuses on just how easy it is to get into a problem situation potentially involving some form of civil liability using a number of role plays to identify and then analyse some commonly occuring situations including:
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Living with ROSA - implications of the self-assessment changes for tax practitioners
Author(s):
Stephen GRAW
Self assessment has been overhauled but how effective are the changes and how will they impact on tax practice? Topics covered in this paper Include:
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CGT - old chestnuts and emerging issues
Author(s):
Gordon S COOPER
After more than two decades of CGT some issues remain unresolved and new issues keep emerging. This paper examines examples of both including:
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