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Preparing for the year ahead

Published on 14 Mar 2011 | Took place at Swissotel Sydney, Sydney, NSW

SMEs and their advisers need to be aware of the way that the major changes in 2010 will affect their businesses, transactions and tax planning leading up to 30 June 2011. Four major changes affecting small to medium enterprises (SMEs) and their advisers occurred in 2010:

  • the way in which trustees deal with income became clearer following the Bamford case
  • UPEs owed to private companies became more difficult to administer following the Commissioner's ruling TR 2010/3 and practice statement PSLA 2010/4
  • the administration of GST was simplified by legislative change
  • the ATO clarified the way in which instalment warrant/limited recourse loan arrangements work and there was a legislative change on 7 July.

Please note Suzi Russell & Jamie Clarke's paper can be downloaded at the 2010 GST Intensive Conference held on the 9th September 2010.

Gina Lazanas' paper can be downloaded from the 3rd Annual Tax Forum held on the 18th May 2010.

Ken Schurgott's paper can be downloaded from A Year of Critical Change held on the 8th November 2010.

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

Individual sessions

Division 7A

Author(s):  Andrew NOOLAN

This paper covers:

  • how was Division 7A thought to operate?
  • what does the ATO consider is the scope of Division 7A?
  • what alternatives are available to Division 7A applying?
  • how will Division 7A apply to trusts?
  • what deficiencies are there in the practice statement and ruling?
  • what impact will the ATO’s new view have on choice of entity structure?
Materials from this session:

Superannuation - The year ahead

Author(s):  Mark WILKINSON

This presentation covers:

  • Cooper recommendations
  • Cooper – What is not changing
  • SMSF borrowing
  • financial planners providing taxation services.
Materials from this session: