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34th South Australian State Convention: "Tax: The Devil is in the Detail"

Published on 06 May 1999 | Took place at Wirrina Paradise Cove Resort, SA

The 34th South Australian State Convention discusses the following topics: entity taxation; the Ralph revolution; GST - the big picture; GST - transitional issues; pay as you go; product rulings and tax effective investments; marketing your tax practice; ATO assist; public and private bining rulings; streaming, capital returns and private companies; superannuation investment rules; best stocks to buy; division 7A - one year on.

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

Individual sessions

Damned if you do and damned if you don't: Entity Taxation

Author(s):  Gordon S COOPER Goes into detail on taxing trusts like companies. How it will be done, what are the differences to now, different treatment for different trusts, and trust losses.

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God save taxpayers. Part 1: GST - The big picture

Author(s):  David KUHNE Topics include: overview; how it works - taxable supplies, GST-free, input taxed supplies; political issues; who pays GST; interaction with other taxes, FBT and WET; annual turnover; bad debts; invoice; employee reimbursements. Also provides case studies.

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God save taxpayers. Part 2: GST - transitional issues

Author(s):  Peter RIGG Topics include: special rules for trading stock, construction agreement, insurance claims, margin scheme - gambling; contracts; dealing with customers and suppliers; motor vehicles.

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To heaven or hell?: Pay As You Go

Author(s):  Barbie CHIRO This paper discusses how PAYG will replace existing reporting systems, transitional timing issues, how it will work for employees and contractors and companies, FBT, withholding taxes, and calculation of instalments.

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Product rulings and tax effective investments

Author(s):  Nick OLIVER This paper discusses how to get your deduction, Part IVA, how long it will take to get a product ruling, who can rely on a product ruling, how to vary a tax instalment deduction and how you will know about the bad products.

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Spreading the good news: Marketing your tax practice

Author(s):  Wayne BURGAN This paper discusses how you can market your practice, how it applies to a professional practice, and developing a client centred marketing strategy and simple strategies that can be put in place quickly to market your practice.

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Devils web. Part 2: ATO assist

Author(s):  Pat HORSFALL This talks about the ATO Assist and its features, such as its Legal Database and search screen.

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The Commisioner judges: Public and private binding rulings

Author(s):  Andrew SHAW This paper discusses public and private rulings and how binding each of them are. For public rulings the Bellinz case is talked about. For private rulilngs it goes into detail for drafting tips, what needs to be disclosed to the Commissioner, how long it will take, how the Commissioner is bound, would you be better off just taking your chances and what you can do about an unfavourable ruling.

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Streaming, capital returns and private companies

Author(s):  Ben WILSON This paper is about the twin evils of franking credits and capital benefits to shareholders. It also discusses when the share capital account becomes tainted, different classes of shares, when different classes of dividends can be paid, can trusts be streamed and can a share buy-backs still be undertaken.

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Superannuation investment rules

Author(s):  Stephen HEATH This paper discusses when the new rules apply, investing in unit trusts, leasing to associates, impact on existing structures, what happens when they apply, and alternate strategies.

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Heavenly investments: Best stocks to buy

Author(s):  Guy COLLISON Discusses Prophecy International Limited and Toll Holdings Limited's: history, operations, strategy, industry trends and risks, share price, profit and loss, why buy.

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Damned if you do and damned if you don't: Entity taxation

Author(s):  Yvonne SNEDDON A practical case study session on some of the concepts discussed in Topic 1, by Gordon Cooper.

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Paying for your sins: Division 7A - One year on

Author(s):  Stephen WESTAWAY This session discusses practical examples covering calculations and terms of loan agreements.

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