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47th South Australian Convention

Published on 01 May 2014 | Took place at Novotel Barossa Valley Resort, SA

The 12 months between the 2013 and 2014 conventions are shaping up as one of the most turbulent periods in taxation for more than a decade. The year has seen the election of a new federal government (and a state election is to be held in March 2014), changes of prime ministers, federal and state treasurers, and general uncertainty as to what lies ahead.

The intention of the 2014 convention was to remove the uncertainty associated with current taxation policy to reveal the precise position of taxation in Australia. The balance of the program was designed to look below the surface to reveal opportunities available for tax practitioners to maximise the benefits for their clients.

The SME stream investigated, in depth, a myriad of issues facing small to medium-size businesses as they approach the end of the financial year, with an emphasis on the opportunities for your clients. The second session was a more intimate discussion on the complexities of establishing a business overseas, including references to financing, transfer pricing and thin capitalisation. While generally targeted at the corporate end of town, the discussion will also focused on the impact on the SME taxpayer.

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

Individual sessions

Wealth creation in superannuation: The tensions

Author(s):  Harry PATSIAS

This paper covers:

  • employee equity schemes
  • benefit payments: Negotiable instruments
  • rental income streams funding pensions
  • managing succession for blended families
  • private company shareholdings.
Materials from this session:

SGC liabilities – Why you don’t want to get it wrong

Author(s):  Alex Reade

This paper covers:

  • when an obligation to pay SGC arises
  • calculating the SGC liability and why it can result in a significantly higher liability
  • late payment offset
  • what to do if late in making a superannuation payment
  • what to do when facing an audit
  • personal liability of directors.
Materials from this session:

Unveiling current thinking on business stuctures

Author(s):  Grantley STEVENS,  Nick WILKINS

This presentation covers:

  • new issues
  • ideal structures:
    • companies and trusts
    • commercial wages
    • rollovers/business sales
    • (re) valuation goodwill
  • other issues.
Materials from this session:

Getting blood from stones: ATO recovery action

Author(s):  Will MARRYAT

This paper covers:

  • Commissioner’s claim to priority
  • background – director penalty provision
  • previous director penalty provisions
  • director’s personal liability for unpaid tax
  • garnishee notices
  • payment arrangements with the Commissioner
  • would you become a director?
Materials from this session:

Landholder duty – Three years on

Author(s):  Brett ZIMMERMANN

This paper covers:

  • landholder decision tree
  • landholder duty – the “South Australian model”
  • land rich/landholder matrices.
Materials from this session:

Employer remuneration

Author(s):  John RAWSON

This paper covers:

  • a brief history of the taxation of employee share schemes
  • strategic design
  • participant tax considerations
  • revisiting the changes made under Division 83A
  • contemporary issues with the ESS rules and current trends.
Materials from this session:

Debt forgiveness – Is it really that scary?

Author(s):  Julie VAN DER VELDE

This paper covers:

  • forgiveness of commercial debts
  • shareholder loans and entitlements
  • the forgiven amount
  • limited recourse debt
  • application
  • the creditor.
Materials from this session:

Capital v revenue in unusual circumstances

Author(s):  Tim SANDOW

This paper covers:

  • capital v revenue – receipts perspective
  • capital v revenue – payment perspective
  • restructuring costs.
Materials from this session:

Tax reform agenda - Key issues

Author(s):  Robert JEREMENKO

This paper covers:

  • budget submission
  • deregulation
  • childcare
  • Inspector-General of Taxation work program
  • employee share schemes.
Materials from this session:


Author(s):  Paul INGRAM

This paper covers:

  • the ATO view (separate asset approach)
  • the proposed legislative solution (look through approach).
Materials from this session:

Part IVA - With small business slant

Author(s):  Graeme S COOPER

This paper covers:

  • which taxpayers are in the sights of Part IVA?
  • getting the basic transactions right
  • getting the substantive tax law right
  • including, the other anti-avoidance rules
  • the well-known Part IVA domain.
Materials from this session:

Transfer pricing and thin capitalisation

Author(s):  Michelle Fardone

This presentation covers:

  • ATO compliance program
  • international tax developments
  • new Australian transfer pricing laws
  • new TP rulings & practice statements
  • thin capitalisation developments
  • controlled foreign companies.
Materials from this session:

Partnerships: Common errors and misconceptions

Author(s):  Alistair Hutson,  Van Truong

This paper covers:

  • formation of partnerships
  • income tax implications
  • capital gains tax implications
  • goods and services tax (“GST”) implications
  • retirement of partners or dissolution of the partnership.
Materials from this session: