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49th Victorian State Convention

Published on 07 Oct 2010 | Took place at Novotel Forest Resort, Creswick, VIC

The convention theme of “Opportunities Abound” reflects a sense that in economic terms, gloom is now at least interspersed with gleam. Of course, as tax practitioners we must continue to deal with many perplexing challenges, to some of which even the High Court affirmed, in Bamford’s case, that there are no perfect solutions. The State Convention was a great opportunity to help each other improve our readiness to deal with these challenges.

This event addressed both longstanding and novel issues of current concern to practitioners across the spectrum of the tax industry.

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

Individual sessions

Can the Commissioner of Taxation be the great dissenter?

Author(s):  Neil YOUNG This paper covers:

  • duty of administration
  • administering 'the Act' is an executive function
  • right of appeal
  • consequences of declining to appeal
  • the authority of sincle judge decisions
  • narrow interpretations
  • adopting a new interpretation.
Materials from this session:

TOFA - Much Ado?

Author(s):  Mark POOLE This presentation covers:

  • taxpayer's approaches to TOFA
  • TLAB 4
  • substantial changes to original draft bill
  • elective methodologies
  • custodian projects.
Materials from this session:

Controlled foreign companies - A modern approach

Author(s):  Richard SHADDICK This paper covers controlled foreign companies - a modern approach.

Materials from this session:

Transfer pricing - The winds of change

Author(s):  Helen FAZZINO This paper covers:

  • the decision in the SNF case
  • the ATO's strategic compliance initiative
  • the taxation ruling on debt pricing issues
  • the draft taxation ruling on business restructures.
Materials from this session:

Small business CGT concessions - Opportunities and traps

Author(s):  Robert WARNOCK This paper covers:

  • small business roll-over
  • using the concessions to contribute a property to a SMSF
  • maximum net asset value test
  • active asset test.
Materials from this session:

International tax for private groups in a changing world

Author(s):  Denise HONEY,  Yina Tang This paper covers:

  • topical issues for private groups
  • tax compliance and audit risk.

Please note this paper was also presented at the Trusts & Estates Club: International Tax for Private Groups in a Changing World event on the 24th of November.

Materials from this session:

Corporate tax governance and risk

Author(s):  Cheryl-Lea FIELD This presentation covers corporate tax governance and risk.

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Treaty shopping

Author(s):  Paul KORGANOW,  Chetan PRABHU,  Jayde THOMPSON This paper covers:

  • prevention of treaty shopping
  • overview of TPG/Myer transaction in the context of treaty shopping
  • addressing treaty shopping in an Australian context.
Materials from this session:

Division 7A strategies

Author(s):  Andrew O'BRYAN This paper covers:

  • expanding the Division 7A net - Tax Laws Amendment (2010 Measures No 2) Act 2010
  • provision of a company asset for use by shareholders/associates
  • corporate limited partnerships
  • interposed entities.
Materials from this session:

Executing transactions: Recent developments in M&A

Author(s):  Paul ABBEY,  Rebecca Choong This paper covers:

  • scrip-for-scrip roll-over relief
  • demerger relief and the view of the Australia Taxation Office
  • pre-sale dividends
  • reform of the corporations law's dividend rules.
Materials from this session:

Trust deed issues in a post-Bamford world

Author(s):  Graeme HALPERIN This paper covers:

  • the meaning of income
  • adding 'income' definitions or powers
  • TR 2010/3 and draft PSLA 3362.
Materials from this session:

Debt which does not generate assessable income

Author(s):  Cameron RIDER This presentation covers debt which does not generate assessable income.

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Changing the rules in the US multinational tax hikes pay for spending priorities

Author(s):  John Womack This paper covers:

  • foreign tax credit provisions
  • other international tax provisions
  • more revenue-raising risks ahead.
Materials from this session:

Post-Bamford trustee resolutions

Author(s):  Nabil (Bill) F. OROW This paper covers:

  • is streaming permitted?
  • what is the impact of expenses and losses?
  • can the trustee validly exercise power of characterisation?
  • practical questions
  • other issues and provisions that call for consideration
  • distribution specific considerations.
Materials from this session:

Dancing with the dragon

Author(s):  Anthony KLEIN,  James STRONG This paper covers:

  • economic review
  • outbound investment into China
  • inbound investment into China
  • cultural considerations.
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GST developments

Author(s):  Jeremy GEALE This paper covers:

  • recent cases
  • legislative developments
  • administrative developments - rulings and determinations.
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The 'new' superannuation environment

Author(s):  Noelle KELLEHER This presentation covers:

  • federal election outcome
  • the Henry Review
  • the Cooper Review
  • government announcements:
    • Henry
    • federal budget
    • election
  • APRA taxation comments
  • ATO comments
Materials from this session:

Consolidation: After the smoke clears

Author(s):  Alexis KOKKINOS

This paper covers:

  • overview of the 'right to future income' deduction provision
  • Section 701-90 - The separate asset rule
  • dealing with a right to future income asset
  • the residual asset provision - Section 701-55(6)
  • Board of Taxation post-implementation review.
Materials from this session: