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2015 Queensland Tax Forum

Published on 27 Aug 2015 | Took place at Brisbane Marriott Hotel, Brisbane, QLD

This event included both corporate and SME streams and comprehensively considered the Federal Government’s tax reform agenda.

The Hon. Josh Frydenberg MP, the Assistant Treasurer opened the Forum and the event also included a leading international expert on tax law and policy, Professor Miranda Stewart, CTA, who discussed tax reform from the perspective of best practice transfer policy.

Broadly:

  • the SME stream covered issues from trusts and Div 7A to sessions focusing on exiting a business (whether to a trade buyer or to the next generation), and managing Part IVA risks
  • the Corporate stream touched on everything from TP documentation and country by country reporting, to FBT tips and tricks on transport, food and accommodation, tax and valuation issues when structuring a transaction and related duty issues when dealing with interests in land.

Teresa Dyson, CTA, closed the forum with a critique of the reform agenda.

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

Individual sessions

FBT tricks and traps

Author(s):  Andrew Cornish,  Hayley Lock

This paper covers:

  • a framework for approaching FBT on transport, accommodation and meals
  • fly-in, fly-out (FIFO) arrangements
  • remote area concessions
  • domestic transfers.
Materials from this session:

Independent contractors v employees - The tool box

Author(s):  Michael Garrone

This paper covers:

  • why is it still an issue?
  • individual or corporate contractors - what’s the difference?
  • employee or contractor?
  • what are the issues?
  • risks areas
  • contractors reviews
  • industry issues.
Materials from this session:

Doing Business in New Zealand

Author(s):  David HUGHES

This paper covers:

  • brief overview of New Zealand tax system
  • no permanent establishment in New Zealand (Australian resident company)
  • permanent establishment in New Zealand (Australian resident company)
  • New Zealand resident company
  • New Zealand foreign trust.
Materials from this session:

Exiting your business - Sale

Author(s):  David MARSCHKE,  Christie Palmer

This paper covers:

  • business sale versus share sale
  • impact of having pre-CGT and post-CGT assets and pre-CGT shares
  • the availability of the small business CGT concessions for the seller
  • using earnouts as part of the sale transaction.
Materials from this session:

Base erosion and profit ahifting: Unilateral actions

Author(s):  David WATKINS

This paper covers:

  • risks/(possible) benefits of non-BEPS compliant unilateral action?
  • the “what, when and how” of BEPS
  • local country developments
  • impacts on Australian businesses.
Materials from this session:

Exiting your business - Next generation

Author(s):  Peter J MCKNOULTY,  Brian Richards,  Kate Timmerman

This paper covers:

  • the need for proper succession planning
  • transferring assets or the control of assets
  • family issues and the role of the adviser
  • managing income tax, capital gains tax and stamp duty through the use of concessions
  • payment options and related party debt
  • developing a family succession plan.
Materials from this session:

Transfer pricing documentation: Country by country reporting

Author(s):  John BLAND

This presentation covers:

  • BEPS: September 2014 deliverables
  • action 13 - CbC reporting
  • overview of the OECD proposals
  • draft Australian law
  • new shortfall penalty rates
Materials from this session:

Applying infrastructure tax concepts to different industries

Author(s):  Stuart Landsberg,  Hayden SCOTT

This paper covers:

  • market and technical drivers of the trend towards ‘infrastructure-like’ structures
  • key technical issues for flow-through taxation
  • case studies.
Materials from this session:

Tax risk governance - What is it? Why should you or your clients’ care?

Author(s):  Sarah Blakelock

This paper covers:

  • key principles - tax risk governance
  • how to approach the development of a tax risk governance framework?

 

Materials from this session:

Proposed new managed investment trust regime

Author(s):  Pratish Patel

This presentation covers:

  • history - MIT
  • Division 6 of Part III ITAA 1936
  • AMIT - key features.
Materials from this session:

Making a super exit

Author(s):  Lyn FORMICA

This paper covers:

  • superannuation contributions
  • strategies/issues.
Materials from this session:

The transfer pricing “reconstruction” provisions: Recharacterising, repricing or reimagining

Author(s):  Ben LANNAN,  Dritton XHEMAJLAJ

This paper covers:

  • overview of Subdivision 815-B
  • reconstruction under Subdivision 815-B
  • recent experiences and options for obtaining certainty
  • emerging transfer pricing compliance trends.
Materials from this session: