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Sustaining Servings: Taxation Issues for a Growing Business

Published on 19 Oct 2007 | Took place at Grand Chancellor, Hobart, TAS

Sustaining Servings was a well balanced program that focused on taxation.

The areas covered included superannuation, the latest round of Division 7A changes, CGT small business concessions, an examination of employees and independent contractors, ways to finance a growing business and extracting value from a business.

Seminar materials from Lyndall Herbert are coming soon.

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

Individual sessions

Financing the growing business

Author(s):  Craig MCCORMICK

Growing businesses are faced with a multitude of ways of funding expansion. Often the taxation implications will determine which funding structure is to be preferred. This presentation covers:

  • interest deductibility - when is interest not interest
  • tax timing advantages
  • the debt/ equity rules and their impact on deductibility of funding costs
  • capital injections and value shifting
  • financing distributions to owners.
Materials from this session:

Employee or independent contractor - tax obligations of payers and payees

Author(s):  Matthew PAWSON

This paper covers:

  • employee or independent contractor?
    • the common law and the statutory provisions
  • payers’ obligations
    • PAYG, super guarantee, and other obligations to withhold tax
  • payees’ obligations:
    • do I need an Australian Business Number?
    • do I need to register for GST?
    • the alienation of Personal Services regime.
Materials from this session:

Division 7A: recent changes

Author(s):  Arthur ATHANASIOU

This paper covers:

  • recent developments
  • the Commissioner’s discretions
  • avoiding Div 7A by using facility agreements
  • common tax traps that can be avoided.
Materials from this session:

Small business CGT concessions

Author(s):  Paul INGRAM

Two press releases issued by the Treasurer as part of the May Federal Budget (Nos. 038 and 039) proposed some important changes to the CGT Small Business Concessions, which significantly expand their scope. This presentation examines the proposed changes, including the following:

  • Changes to apply from 1 July 2006
    • $5m maximum net asset value test
    • active asset test
    • SB CGT Affiliates
    • significant individual test
    • application of the concessions in the event of death of significant individual
    • changes to specific concessions
  • changes to apply from 1 July 2007
    • $5m threshold to increase to $6m
    • STS taxpayers to qualify regardless of $6m threshold.
Materials from this session:

Superannuation: key issues

Author(s):  Bryce FIGOT

The new super rules require us to rethink all strategies to provide value added advice for our clients. This paper examines some of the key areas that practitioners need to be on top of to plan tax effectively for their client’s super needs.

  • Planning benefit payments under the new super rules:
    • what is a super interest?
    • how pensions and lump sums are treated?
    • strategies to enhance outcomes
  • crystallisation: the ‘must know’ issues:
    • accumulation balances
    • pre-30 June 2007 pensions
    • pre-30 June 1994 pensions
    • maximizing the pre 1983 component
  • claiming super deductions:
    • recent changes
    • recent ATO publications.
Materials from this session: