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4th Annual Tax Forum

Published on 19 May 2011 | Took place at Hilton Sydney, Sydney, NSW

Over the past few years, the Tax Forum has become the premier tax event in New South Wales, providing delegates with the opportunity to hear the latest technical content from leading tax professionals on current topics of interest.

This event had three topic streams, SME, Corporate and Hot Topics, that offered delegates over 40 technical sessions providing maximum flexibility to tailor the program to cover topics relevant to you, your colleagues, staff and clients.

Materials from this event are currently being uploaded. Once all materials are available this message will be removed.

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

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Individual sessions

The Part IVA deluge

Author(s):  Graeme S COOPER

This paper covers:

  • background – The cases
  • the scope of the 'scheme'
  • purpose
  • the relevant counterfactual
  • Part IVA and other anti-avoidance rules.
Materials from this session:

Consolidations and SMEs: Headline issues and practical solutions

Author(s):  Jol DARE

This paper covers:

  • what is "SME" and why are they special for consolidation?
  • why do SMEs end up in consolidation?
  • valuations: The big ticket item
  • the lotteries of consolidation: Cost resets and available fraction
  • what can an SME do about it?
  • the UPE problem: How consolidation can help.
Materials from this session:

Superannuation compliance, focusing on SMSFs

Author(s):  George SAMARAS

This presentation covers:

  • focus of talk on self managed superannuation funds
  • legal framework around self managed superannuation funds
  • compliance and regulatory framework for SMSF's
  • the compliance process
  • compliance issues and how to deal with them
  • what to do when a fund is or is might be made noncomplying.
Materials from this session:

Self managed super: Strategies & investment structures for purchasing business real property

Author(s):  Peter BOBBIN

This paper covers:

  • exciting new opportunities in the sphere of SMSF borrowing
  • what is it all about?
  • what are "acquirable assets"?
  • what do not constitute "acquirable assets"?
  • so why and how should you be conservative?
  • with borrowing comes risk
  • it is a relaxation of a prohibition, not permission
  • the interest is tax deductible, or is it?
Materials from this session:

Employee share schemes for SMEs

Author(s):  Nick GANGEMI

This paper covers:

  • outline of the new rules and the changes made
  • "qualifying" rights and shares
  • real risk of forfeiture
  • valuation of shares
  • valuation of rights.
Materials from this session:

Tax debt - Managing, negotiating, disputing

Author(s):  Paul Kruspe

This paper covers:

  • our debt collection strategies and principles
  • how to deal effectively with a tax debt
  • payment arrangements.
Materials from this session:

GST: Key legislative changes and important GST rulings in 2011

Author(s):  Andrew Cavenor

This paper covers:

  • key legislative changes
  • important GST rulings expected in 2011.
Materials from this session:

Foreign Account Tax Compliance Act (FATCA)

Author(s):  Lynn Kelly

This paper covers:

  • background
  • overview of FATCA
  • implications for Australian investors, financial institutions and intermediaries.
Materials from this session:

An update on earnouts

Author(s):  Brendon Lamers

This paper covers:

  • historical tax treatment
  • proposed legislative amendments
  • international comparison
  • Where do we go from here?
Materials from this session:

Superannuation

Author(s):  Graeme COLLEY

This paper covers:

  • news from the courts
  • national tax liaison group
  • the budget
  • Cooper review issues.
Materials from this session:

The other Part IVA - Departure prohibition orders

Author(s):  Therese CATANZARITI

This paper covers:

  • consequences
  • issuing a DPO
  • is there a tax liability
  • right of appeal
  • term
  • revocation of a DPO
  • departure authorisation certificate
  • review
  • child support departure prohibition orders
  • insurance claims.
Materials from this session:

R&D - Tax offset

Author(s):  Ian Ross-Gowan

This paper covers:

  • what is industrial R&D?
  • what benefit do we get from encouraging industrial R&D?
  • it is all that bad?
  • the positive aspects of the Bill 
  • the government's rationale for the changes to R&D definitions has not been established
  • revenue neutrality or revenue saving?
Materials from this session:

Matters affecting taxpayer confidentiality - Taxipedia leaks

Author(s):  Kathrin Bain

This paper covers:

  • recent FOI changes
  • shuffling the secrecy provisions into one act
  • information in a globalised world
  • hand me down information – Stewart v DCT
  • illegally obtained information.
Materials from this session:

Emerging themes and observations

Author(s):  Denis MCCARTHY

This paper covers:

  • residential property
  • third party consideration
  • characterisation issues.
Materials from this session:

Source rules - An update

Author(s):  Cory HILLIER

This paper covers:

  • why is the determination of the source of income important?
  • when does the determination of source become critical?
  • what is the meaning of "source" of income?
  • what is the “source” of business income and trading income?
Materials from this session:

My client the primary producer

Author(s):  Darren SHONE

This paper covers:

  • what is primary production?
  • structure options for a primary production business
  • specific provisions - primary producers
  • capital allowance provisions for primary producers
  • non-commercial loss rules
  • farm management deposits
  • long-term averaging of tax liability
  • NSW state taxes & charges.
Materials from this session:

Managed investment trusts

Author(s):  Joshua CARDWELL

This paper covers:

  • when is a trust a MIT?
  • a MIT, now what?
  • alternate structures
  • the future of MITs and CIVs.
Materials from this session:

Legal professional privilege - Protect your rights but know your limits

Author(s):  Judy SULLIVAN,  Simon Lees

This paper covers:

  • background to common law LPP
  • waiving privilege - Intentionally or unintentionally
  • applying the basics of LPP
  • severance
  • in-house counsel.
Materials from this session:

Debt/equity - Recent developments

Author(s):  Thomas MCAULIFFE

This paper covers:

  • TR 2010/5 – The relevance of economic compulsion
  • Division 974 regulations
  • application of Division 230 to "equity interests"
  • the state of play with s974-80
  • other developments.
Materials from this session:

Losses

Author(s):  Wayne PLUMMER

This presentation covers:

  • "the basics:"
    • COT
    • losses and tax consolidation
  • some "more interesting stuff:"
    • proposed changes – Exposure draft/budget announcement
    • "death"
    • saved from the "same share same person rule"
    • how the ATO is applying SBT – A collection of PBRs/ATOIDs
    • losses and consolidation – When does it make sense to cancel losses?
    • refreshed SBT losses – Just when you thought it was safe to change business
    • SBT testing on exit and reformation
    • available fraction and what to do with non-share equity
    • some other PBRs/ATOIDs on SBT for consolidated groups.
Materials from this session:

Practical implications of Australia's recent tax treaties

Author(s):  Richard J VANN

This paper covers:

  • implementing and interpreting tax treaties
  • residence and attribution of income
  • business profits
  • collective investment vehicles
  • expatriates
  • exchange of tax information.
Materials from this session:

M&A tax update

Author(s):  Tim SHERMAN

This presentation covers:

  • dividends paid by targets - Capital proceeds
  • dividends paid by targets - 45 day rule and related payments
  • leaving and joining a tax consolidated group - CGT straddle contracts
  • proposed amendments to CGT rollovers
  • extension of scrip for scrip rollover relief.
Materials from this session:

An update on the TOFA regime

Author(s):  Gavin MARJORAM

This paper covers:

  • vanilla loan
  • convertible loan
  • interest free loan
  • 'synthetic' loan
  • perpetual loan
  • subordinated loan.
Materials from this session:

Update on capital management

Author(s):  Mark GOLDSMITH

This paper covers:

  • offmarket share buy-backs
  • the "mop up" anti-streaming provision (section 177EA)
  • what is a "dividend" nowadays?
  • payments for share entitlements.
Materials from this session:

Key developments in the taxation of business profits from a transfer pricing perspective

Author(s):  Paul BALKUS,  Melissa HEATH

This paper covers:

  • the changing landscape of transfer pricing
  • new developments: Detailed discussion.
Materials from this session:

Division 7A and unpaid present entitlements: What happens now?

Author(s):  Spyros KOTSOPOULOS,  Manisha Singh

This paper covers:

  • Division 7A re-visited
  • unpaid present entitlements
  • what options do I have for “section 3” loans?
  • actions - What next?
  • deductibility of interest paid
  • the showdown: The Commissioner vs the tax practitioner.
Materials from this session:

Fringe benefits tax

Author(s):  Alison STEVENSON,  Lachlan Armstrong-Sue

This paper covers:

  • fundamentals of FBT
  • recent developments
  • compliance issues
  • employers & compliance.
Materials from this session:

Anti-deferral regime reform

Author(s):  Neil BILLYARD

This presentation covers:

  • status of reform
  • control test
  • prima facie passive income
  • exceptions and exclusion:
    • active business carve-out
    • disconnected income
  • lightly taxed entities
  • foreign dividend exemption
  • FAF rules.
Materials from this session:

An update on the consolidation regime

Author(s):  Richard HENDRIKS,  Abdol MOSTAFAVI

This paper covers:

  • the 2010 amending legislation
  • rights to future income and residual tax cost setting rules
  • bad and doubtful debts
  • CGT straddle contracts
  • demergers.
Materials from this session:

Risky times corporate compliance

Author(s):  David DRUMMOND

This presentation covers:

  • introduction – The five streams of consciousness
  • a global perspective on the evolution of tax administration
  • status of IASB workstream on accounting for uncertain tax positions (UTP)
  • the ATO risk differentiation framework
  • the ATO reportable tax position schedule
  • the ATO pre-lodgement compliance review
  • implications for tax risk management and corporate governance
  • the quest for certainty in real time
  • the use of formal access powers
  • future state – The timeline of tax uncertainty.
Materials from this session:

An update on blackhole expenditure

Author(s):  Jonathan Rintoul,  Sam Haggan

This paper covers:

  • navigating the tax law to Subdivision 40-I
  • subdivision 40-I project pool provisions
  • section 40-880.
Materials from this session:

Small business CGT concessions: Traps in practice

Author(s):  Steven ROSENSTRAUSS

This paper covers:

  • the small business entity test
  • the maximum net asset value test
  • the active asset test
  • additional basic conditions
  • comments on the concessions.
Materials from this session:

Part IVA - How the ATO see it

Author(s):  Des MALONEY

Over the past three years there have been many decisions which have impacted the understanding of how Part IVA is to be applied. The ATO is reviewing its approach. This session covers some of the aspects likely to be updated.

© Commonwealth of Australia, 2011.
This work is copyright. Apart from any use as permitted under the Copyright Act 1968, no part may be reproduced by any process without prior written permission from the Commonwealth. Requests and inquiries concerning reproduction and rights should be addressed to the Commonwealth Copyright Administration, Attorney General's Department, Robert Garran Offices, National Circuit, Barton ACT 2600 or posted at http://www.ag.gov.au/cca

Disclaimer: This podcast represents laws and policies at the time it was presented. Persons should make appropriate inquiries, check the law for currency, and seek independent advice before acting in reliance on it.

Materials from this session:

Estate planning

Author(s):  Andrew FRANKLAND

This paper covers:

  • structure of testamentary trusts
  • testamentary trusts and super
  • tax and testamentary trusts
  • asset protection and testamentary trusts
  • other Division 6AA trusts.
Materials from this session:

What's new in property

Author(s):  Scott McGill

This paper covers:

  • distinction between revenue & capital + issues on enterprise & GST
  • specific GST issues.
Materials from this session:

Looking at buying a business

Author(s):  Greg TRAVERS

This paper covers:

  • identifying the issues – The tax due diligence process
  • post sale restructuring
  • achieving a clean exit.
Materials from this session:

Some issues post Bamford

Author(s):  Michael BINETTER

This paper covers:

  • the issues considered by the high court in Bamford
  • some issues concerning a trustee's decision regarding "updating" the trust deed post Bamford
  • the power under a trust deed to amend the trust deed
  • using the amending power
  • trustee resolution regarding the appointment of income.
Materials from this session: