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Published on 17 Oct 2003 | Took place at Eastcoaster Resort, Orford , TAS

The last 12 months has once again posed enormous challenges to taxpayers and tax practitioners alike. Tax reform continues at a heavy pace, and the ATO's compliance program suggests that they have greater expectations of taxpayers and tax professionals than ever. And, of course, there continues the usual barrage of new legislation, rulings, announcements and cases.

The program for this convention ranged from cutting edge issues such as consolidation and the new financial services reform rules, to a fresh look at business structures for SMEs, as well as a look at what's new in taxation of property. It included updates on superannuation, interest deductibility, and general developments in tax. Last, but not least, an examination of Part IVA from the ATO's perspective will help stop us from getting too many unwanted shocks!

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

Individual sessions

Business Structures for SMEs

Author(s):  Gil LEVY This seminar paper covers the following topics:
- basic structure for maximum CGT and income tax efficacy
- structuring to negatively gear
- advantages and disadvantages of a discretionary trust to access the CGT concessions
- using a company owned by a discretionary trust or trusts
- using a partnership of discretionary trusts
- small business concessions case study.

Gil Levy also presented this paper at the Tasmanian State Convention 2003 in Orford on 17 October 2003.

Materials from this session:

General Tax Update

Author(s):  Peter THOMPSON This convention paper provides an update on recent cases, announcements and rulings of relevance to tax practitioners.

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Interest Deductibility Post Business Cessation

Author(s):  Justin DABNER This presentation covers the following issues:
- recent cases - Hart, Jones & Firth
- interest incurred after income has ceased
- split loan products.

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Property Development - some selected tax issues

Author(s):  Ron JORGENSEN This seminar paper covers the following topics:
- trading stock v capital distinction
- allocation of service expenses to trading stock cost
- trading stock arbitrage by using a captured construction entity
- acceleration of construction costs
- selection of development vehicle
- restructures and land partitions
- stamp duty
- serviced apartment depreciation phenomena and ATO crackdown.

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Superannuation Update

Author(s):  Sharyn LONG This convention paper covers the following topics:
- reasonable benefit limits
- taxation of benefits
- flexible pension strategies
- ATO audit activity
- CenterLink benefits.

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Financial Services Reform Act

Author(s):  Germana VENTURINI This convention paper covers the following topics:
- recent superannuation changes that tax practitioners must know
- flexible pension strategies
- designing the most effective retirement strategy for your client
- how does that relate to your client's estate planning strategy
- key licensing and disclosure requirements of the Financial Services Reform Act, including a discussion of 'financial product advice and incidental advice'
- major issues, impacts and options for superannuation, accounting and legal professionals
- how to plan and be ready for the changes ahead, and what tools and systems you may need.

Germana also presented this paper at the Tasmanian State Convention in Orford on 18 October 2003.

Materials from this session:

Consolidation for SMEs

Author(s):  Ken SPENCE This presentation demystifies the tax consolidation laws. Its focus will be on the approach that SME advisers could take when asking themselves the question: does the consolidations regime add benefit to my SME client or not? Questions answered include:
- Which clients does consolidations apply to?
- What are the benefits for the owners of consolidating?
- How does consolidations affect trusts and partnerships?
- What are the financial accounting affects of consolidating?
- What do you have to do to consolidate and by when?
- What happens if your client sells off part of a business or purchases a new business?
- What are the ramifications for losses and imputation credits?

Ken also gave this presentation at the Tasmanian State Convention in Orford on 18 October 2003.

Materials from this session: