Session 10.2

Corporate Tax Residency

Speaker: Chris Peadon, FTI, New Chambers

While we would like to think that corporate tax residency will be resolved imminently, the fact is that organisations have been required to navigate a complex and uncertain environment for several years. The uncertainty posed by unenacted measures and the practical difficulties of ensuring compliance, has caused many organisations to consider how to best position themselves and avoid common pitfalls. In this session we discuss the issues associated with corporate tax residency, the ideal solution and how organisations can plan to ensure they don’t find themselves in a difficult (and potentially irreversible) situation.

Session 10.3

Property flipping as a national sport – are the flippers amateurs or professionals?

Speakers: Corey Beat, CTA, Findex, Chris Wallis, CTA, Victorian Bar

In recent years, reality television, a booming property market and low interest rates have spawned thousands of property development arrangements and none are standard. This session will cover:

• Type of entities that can be involved (including single entities, property owners and ‘builders’ joining forces, and single venture unit trusts)
• How many flips make an enterprise?
• How many flips make a business?
• Can a flipper access the main residence exemption?

Session 10.4

BEPS Pillar 1 and 2

Speakers: Liz Cullinan, EY, Richard Evans, CTA, Macquarie Group

The BEPS reform agenda has been continuously evolving to address tax avoidance and create a more transparent global tax system. BEPS Pillar 1 focuses on reallocation of taxable income between jurisdictions, whereas the focus of BEPS Pillar 2 is to ensure that income is taxed at the appropriate rate. This session will consider the lessons from Pillar 1 so far and what are the key issues that corporates should be preparing for in relation to Pillar 2, as against the current landscape of ATO powers and review activity.

Session 10.5

Data Security and Professional Obligations in a Digital World

Speakers: Annalie Mitchelson, Deloitte Legal, Kate Monckton, Deloitte Risk Advisory

As busy professional advisors, we are constantly seeking more efficient ways of operating. Technology provides many innovative and time-saving tools, but it is important to ensure the products used do not inadvertently result in breaches of professional obligations. This session will consider:

• Protection of client data, particularly when using cloud-based products
• Obligations and potential exposures in relation to client TFNs
• Remote access tools and data security
• Password policies and multi-factor authentication, and
• Virtual meeting software and potential vulnerabilities.

Session 11.2

Changing landscape for large market tax advisers

Speakers: Alf Capito, EY, Rebecca Saint, Australian Taxation Office, Channa Wijesinghe, International Accounting & Ethical Standards Board
Facilitator: Andrew Mills, CTA (Life)

This panel session will discuss the changing environment impacting large market tax advisers, including:

• the role of tax advisers
• the legal and ethical frameworks
• the importance of tax in Environmental, Social and Governance (ESG) practices
• the increasing focus of enablers that facilitate tax avoidance
• tax transparency.

Session 11.3

Property development agreements in broad acre setting

Speakers: Chris Ardagna, CTA, Pitcher Partners, Jake Berger, Pitcher Partners

Broadacre land holdings on the periphery of larger cities (many held or accumulated by primary producers over long periods) provide most of the feed stock for broadacre land developments.

Current pressures to bring residential land onto the market coupled with long delays in planning approvals can leave developers holding development rights exposed.

Standard modern development agreements require land owners to make payments to developers for development costs incurred, which will generally include a component of ‘profit’. In this session we consider:

• How should outlays and receipts be characterised?
• Does section 15-15 still have a role?
• Must land be characterised as trading stock?
• Allocating value and cost to a lot, and
• Potential duty on the developer’s right to receive a share of the profits?

Session 11.4

BEPS Pillar 2 – Practicalities and realities

Speakers: Natalie Chang, FTI, Rio Tinto, Thana Geldenhuys, CTA, Atlassian, Sandie Parker, Canva, Pete Rhodes, ATI, Aristocrat

Facilitator: Sandra Farhat, FTI, EY

Pillar 2 has progressed, slowly but surely, and organisations will need to consider their exposure and, plan accordingly, and will be required to demonstrate compliance with the rules. Given the complexity of the rules and the international overlay, this will not be an easy task. In this session we will hear from leading organisations about their journey in preparation for Pillar 2 and what they are doing to ensure they make the most out of the time available to them to get ready. 

Session 11.5

Meeting Professional Standards in your Practice

Speaker: Debra Anderson, Tax Practitioners Board

Maintaining professional designations and registrations is essential to business – from both a compliance and best practice point of view. This session will examine some topical issues relating to the management of professional practices, including:

• New TPB guidance on proof of identity
• Revisiting reasonable care in ascertaining the client’s state of affairs, and
• Managing conflicts of interest

Session 13.2

The Clough decision and impacts on M&A

Speakers: Fiona Beckett-Cooper, EY, Bernard Quain, EY

The Clough decision raises some novel considerations for M&A transactions in relation to the treatment of expenses and costs associated with such transactions. The ramifications are widespread and go beyond just employee incentives and cover many other relevant transactions including indemnity insurances and other employee expenses.

In this session we will hear about the Clough decision and the key considerations for practitioners in an M&A context.

Session 13.3

GST and Property

Speaker: Scott McGill, CTA, Pitcher Partners

This session will explore the hottest thing in GST right now, GST charged on property transactions and issues that arise when entering into these transactions. Some particular issues to be considered will include:

• Setting the scene – a quick overview of the basic framework and common traps
• When vendors need to register, considering whether the vendor is conducting an enterprise and whether the transaction is capital in nature
• Key issues with contracts on purchase and sale, why it is important and what we get wrong
• When it all gets complicated – how to navigate through commercial residential premises, build-to rent, and things that fall in the gaps of the definition of residential premises? and
• Some thought provoking examples.

Session 13.4

Intangibles - an ever-changing tax landscape

Speakers: Chris Ferguson, Deloitte, Chris Hogger, PwC

This session explores the build-up of tax law and guidance relevant to intangibles arrangements including the potential components of the proposed new measure to deny deductions for payments relating to intangibles and royalties that lead to insufficient tax paid. Consideration will also be given as to the possible expected behavioural change of taxpayers and how taxpayers can address the current uncertainty.

Session 13.5

In-house perspectives – Dealing with ATO Reviews and Audits

Speakers: Michael Barbour, CTA, Westpac, Darren Day, Woolworths, Saomai Krause, H&H Group

Facilitator: Luke Imbriano, FTI, KPMG Law

As ATO levels of engagement and interaction continue to increase for many corporates, and the ATO’s approach to Justified Trust and compliance programs intensifies, organisations need to be prepared for ongoing ATO scrutiny. While each organisation’s experience with ATO engagement will differ, there are some common themes and trends to manage and maximise the benefits of ATO interactions.

In this session we will hear from a mix of in-house advisers, each with a unique perspective and experience in managing their ATO engagement but also in managing their own internal stakeholders.

Session 14.2

Heads of Tax Panel

Speakers: Kenny Cheong, ATI, 7 Eleven, Catherine Feng, Origin Energy, Adrian Lovell, FTI, APA Group

Facilitator: David Earl, FTI, PwC

Hear the latest insights from leading Heads of Tax on relevant tax matters over the last 12 months, including:

• ATO engagement
• Tax technology
• Workforce constraints
• Development of tax technical matters and impacts on the tax function
• Tax governance, and
• Board reporting.

Session 14.3

Insolvency

Speaker: John Carrello, BRI Ferrier

This session will consider the current market conditions, an overview of the main forms of external administration, receivership and liquidation and current issues in relation to restructures, turnarounds, and insolvency along with some practical examples that tax practitioners should become familiar with.

Session 14.4

Diverted Profits Tax and Multinational Tax Avoidance Law

Speakers: Sandra Farhat, FTI, EY, Simon Hellmers, Australian Taxation Office, Dr Niv Tadmore, CTA, Jones Day

As the first Diverted Profits Tax case hits our courts, mystery continues to surround this anti-avoidance rule and its sister rule, the Multinational Anti-Avoidance Law.

Both rules are key tools in the ATO’s anti-avoidance arsenal, yet uncertainty remains as to when the ATO will seek to apply the rules and how organisations can engage the ATO to avoid disputes in this arena.

In this session we will learn about circumstances where the ATO is considering the DPT and the MAAL and how organisations can prepare if the ATO advises that the rules are potentially in scope.

Session 14.5

Tax Disputes and Evidence

Speakers: The Hon Jennifer Davies, SC, Angelina Lagana, CTA, KPMG Law

In order to avoid a lengthy audit or dispute with the ATO, one must think about the facts and evidence to support the position adopted by a taxpayer. This panel

session will provide views from a retired judge and pre-eminent tax barrister along with a tax disputes lawyer on:

• the importance of facts and evidence in a dispute, including the critical role that taxpayers and in house functions have in this regard;
• the role of barristers, solicitors, tax advisors at all stages of an audit or dispute – along with the important role that the taxpayer and non tax stakeholders within the business can play; and
• how to manage and avoid a controversy and how the approach and strategy might differ at all stages of the tax dispute continuum.

Session 15.2

Getting TP Right – Why does it go wrong and how to avoid the common mistakes

Speakers: Sophie Lewis, KPMG, Shahzeb Pahnwar, PwC

Transfer pricing is one of the key issues, if not the key issue, affecting most corporates. The ATO has an ongoing focus on this area and organisations need to ensure they have established frameworks to get transfer pricing right and avoid the common pitfalls that lead to disputes with tax authorities.

This session will discuss some of the more common pitfalls in documenting arrangements and pricing related party transactions as well as options available to maximise certainty and ensure good governance.

Session 15.3

R&D Tax Incentive – What you need to know

Speakers: Kathryn Bertram, FTI, Johnson Winter & Slattery, Mariana von Lucken, CTA, HLB Mann Judd

This session will explore the lifecycle of the R&D tax incentive, outline the key technical issues in making a claim and offer an understanding of the likely review process if AusIndustry make an adverse determination. The session will cover:

• An overview of the current R&D tax incentive
• Pitfalls and Tips
• How the proposed changes will affect your client’s business
• Key lessons from recent cases
• Timeline of an actual dispute from AusIndustry decision to the AAT review and what it may cost you
• Lessons learnt ‘on the ground’, and
• How taxpayers can avoid a dispute with AusIndustry.

Session 15.4

International developments – What’s happening overseas?

Speakers: Tan Hooi Beng, Deloitte, Sharon Murray, Deloitte, Kate Ramm, Deloitte, Amelia Teng, Deloitte

As the saying goes ‘imitation is the sincerest form of flattery’, so it makes sense to pay attention to key tax developments in our closest trading neighbours and key global markets (which is not to say that we in Australia do not have innovative tax policies!).

Given the relevance of global developments to many organisations and the impact that policy or administrative changes in one country can have across multiple jurisdictions, learning and leveraging from our global insights is a key learning tool for organisations.

In this session we will hear about key developments in the US, UK and in the Asia Pacific region and provide an insight into the impact this has on local organisations and their tax functions.

Session 15.5

ADR and Early engagement

Speakers: Ram Pandey, CTA, Australian Taxation Office, Shashi Sivayoganathan, FTI, Transurban, Annemarie Wilmore, CTA, Johnson Winter & Slattery

‘The early bird catches the worm’….apt even in a tax environment! Engaging early to obtain certainty, avoid (and resolve) disputes and foster transparency should be a key element of any risk management strategy. Crossing your fingers and hoping you don’t get a knock on the door is not only a poor strategy, but also bad governance and exposes organisations to avoidable risks. Conversely, heading full speed to the steps of the courtroom is also not a good strategy for managing ATO disputes.

In this session we will hear about different avenues to engage early and resolve disputes with the ATO, their pros and cons and the ways taxpayers can engage with the ATO from pre lodgement right through to ADR.