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50th Victorian State Convention

Published on 06 Oct 2011 | Took place at Novotel Forest Resort, Creswick , VIC

The Tax Institute’s 50th Victorian State Convention was a momentous event and stands alone as the premier forum in Victoria for the sharing of tax knowledge among tax professionals.

An excellent array of speakers from all areas of the tax profession provided attendees with valuable insights into the many topics covered.

This event had sessions ranging from the ever-changing issues with trusts to corporate tax and R&D issues. The content was comprehensive and the presenters are all first class and recognised leaders in their fields.

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

Individual sessions

Judicial approaches to the application of the Income Tax Assessment Acts to intra-group transactions discernable from recent cases

Author(s):  Richard F EDMONDS

This paper covers:

  • setting the scene
  • the scene
  • what is one to make of all this?
Materials from this session:

Taxing the net income of a trust estate - Where to from here...

Author(s):  Terry MURPHY

This paper covers:

  • Bamford
  • the legislative response
  • income and net income
  • franked distributions
  • anti-avoidance provisions
  • streaming of capital gains and franked distributions
  • the trust instrument
  • individual receipts
  • deductibles
  • minutes
  • CGT event E1.
Materials from this session:

Trusts: Streaming into FYE 2012

Author(s):  Joanna MONAHAN

This paper covers:

  • foundation of trust distributions – Post Bamford
  • the resolution revolution
  • streaming capital gains and franked distributions
  • application of TLAM No. 5 2011.
Materials from this session:

The life and times of an alternative postulate: Recent developments in Part IVA

Author(s):  Helen Symon

This paper covers:

  • Section 177C and the adversarial process
  • overall history of Part IVA litigation
  • an integrated approach to Part IVA
  • latest developments: Cause for disquiet?
Materials from this session:

Transfer pricing - 30 years on and still uncertainty

Author(s):  Paul RILEY,  Don Spirason

This paper covers:

  • Division 13
  • Division 13 in practice in Australia 
  • key issues in transfer pricing in Australia
  • interrelationship between Division 13 and the associated enterprises article
  • methods
  • scope of Commissioner's powers 
  • SNF Australia case
  • implications of the SNF Australia case.
Materials from this session:

The opportunites and traps for SMSF investments

Author(s):  Heather GRAY

This paper covers:

  • superannuation fund borrowing
  • collectables and personal use assets - The new rules
  • investing in ungeared and geared unit trusts
  • related party acquisitions and investments.
Materials from this session:

The new R&D tax incentive

Author(s):  Ian Ross-Gowan

This paper covers:

  • what is industrial R&D?
  • is it all that bad?
  • the government’s rationale for the changes to R&D definitions has not been established
  • there are other concerns with the Bill.
Materials from this session:

Tax consolidation: The changing beast

Author(s):  Alexis KOKKINOS

This paper covers:

  • the changing beast
  • treatment of assets
  • treatment of liabilities
  • the new anti-double up provision.
Materials from this session:

Stamp duty update

Author(s):  Zoe CHUNG

This paper covers:

  • significant stamp duty outcomes from the 2011-2012 Victorian state budget
  • update on the abolition of stamp duty Australia-wide
  • summary and update on land rich and landholder duty Australia-wide
  • Commissioner of State Revenue v Lend Lease Funds Management Ltd [2011] VSCA 182 (“Lend Lease”)
  • Chief Commissioner of State Revenue v Tasty Chicks Pty Ltd & Ors [2010] NSWCA 326 (“Tasty Chicks”)
  • Mr Espresso Group Pty Ltd v Chief Commissioner of State Revenue [2009] NSWADT 291 (“Mr Espresso”)
  • Epic Energy (WA) One Pty Ltd v Commissioner of State Revenue [2010] WASAT 37 (“Epic Energy”)
  • Victorian lease duty provisions - Law versus practice
  • common trust transactions - Relevant exemptions or concessions from duty.
Materials from this session:

Restructuring trusts to companies: What you need to know

Author(s):  Craig COOPER

This paper covers:

  • approaching a restructure
  • subdivision 124-N: Disposal of assets by a trust to a company
  • subdivision 124-H: Exchange of units in a unit trust for shares in a company
  • subdivision 122-A: Disposal of assets to, or creation of assets in a wholly-owned company.
Materials from this session:

Getting down to business with Div 7A UPEs and s100A

Author(s):  Chris WOOKEY

This paper covers:

  • choices available
  • choosing between options
  • practical application
  • the section 100A peril.
Materials from this session:

Tax and partnerships

Author(s):  Paul HOCKRIDGE

This paper covers:

  • what is partnership?
  • property developement
  • service trusts
  • disposals of interests in partnership assets
  • partnership salaries
  • incorporating professional practices.
Materials from this session:

Inbound investment - Source: Why and when it matters, and where it is?

Author(s):  Tim NEILSON

This paper covers:

  • some preliminary matters
  • major tax system features applicable to inbound investment
  • source - Where is it?
  • mitigating tax on Australian source income - Treaty PE issues
  • the Myer/TPG saga - A case study
  • what’s so special about MITs?
Materials from this session:

Division 7A crisis management

Author(s):  Ron JORGENSEN

This paper covers:

  • direct DIV. 7A exposures
  • indirect DIV. 7A exposures
  • exemptions
  • UPE exposures
  • corrective action
  • voluntary disclosure.
Materials from this session:

Current challenges in tax reporting

Author(s):  Robert Gallo

This paper covers:

  • insights from the 2011 tax reporting season
  • recent tax effect accounting changes
  • key accounting standard changes and potential tax effect impacts
  • tax reporting and the proposed minerals resource rent tax.
Materials from this session: