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2020 Financial Services Taxation Conference

Published on 05 Feb 2020 | Took place at Grand Hyatt Melbourne, National

This conference, held over three days in Melbourne, is the only one of its kind focusing on tax issues in financial services and attracts practitioners and in-house tax advisers from across Australia. The 2020 program once again offered an array of plenary and breakout sessions including:

  • legal professional privilege
  • the OECD’s reform program
  • customer remediation
  • insurance
  • superannuation
  • residence
  • RCF litigation and much more.

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

Individual sessions

The role of the tax system and incentives in financial products

Author(s):  Jason KING

This paper covers:

  • the environment for investment products in Australia
  • tax incentives: case study on varying approaches
  • tax incentives and anti-avoidance
  • what other regulators could learn from the ATO.
Materials from this session:

Insurance – IFRS 17 an overview

Author(s):  Jim Iliopoulos,  Kathy Allison,  Shweta Krishna,  Louise Miller

This paper covers:

  • the law and accounting standards
  • the scope, application and development of IFRS 17 in Australia
  • accounting overview of IFRS 17
  • tax treatment of insurance companies
  • main impacts to consider from an income tax perspective
  • transition
  • presentation and disclosure.
Materials from this session:

Recent cases

Author(s):  Joanne DUNNE,  Jo Yi Ung,  Madeleine Farrar

This paper covers:

  • Full Federal Court 2019 tax cases
  • High Court 2019 tax cases.
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Pillar two and the OECD tax reform program

Author(s):  Amelia Teng,  Adam Hounsell

This paper covers:

  • pillar two and the work to date
  • pillar two – what is it?
  • practical implementation issues
  • conclusion – where to from here?
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The capital/revenue distinction in financial services

Author(s):  Eugene Wheelahan

This paper covers:

  • when is a gain on realisation of an asset ordinary income?
  • application to financial services businesses
  • impact of the consolidation rules on the analysis.
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Remediation following the Royal Commission

Author(s):  Neil LAMB,  Jenny Lin

This presentation covers:

  • issues for remediation and compensation
  • key income tax impacts
  • ATO guidance
  • update on industry consultation.
Materials from this session:

The Commissioner, the equitable remedy to protect confidential information and a big data world: Reflections on life after Glencore

Author(s):  Helen Symon

This paper covers:

  • Glencore International AG v Commissioner of Taxation
  • the courts’ jurisdiction in equity to protect confidentiality in documents
  • other areas for consideration.
Materials from this session:

Inspector-General of Taxation & Taxation Ombudsman update

Author(s):  Payne Karen

This paper covers:

  • the evolution of the IGTO
  • IGTO’s place in the administration of Australia’s tax system
  • intersections and dealings with the financial services industry.
Materials from this session: