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28th Noosa Tax Intensive Reinvented for 2020

Published on 12 Nov 2020 | Took place at Sofitel Noosa Pacific Resort | Crowne Plaza Terrigal, National

The 28th Noosa Tax Intensive was this year’s premier SME tax event in Australia. Amid uncertainty on how long it will take for the COVID-19 fog to clear, all businesses are challenged to continue differently. Professor Justin Craig’s keynote highlighted what that means for family businesses in a broad sense. We then drew from that as we dived into the key tax and governance issues that family businesses need to embrace to set themselves apart during this period.

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

Individual sessions

Capital/revenue – Sun Newspapers shaded, black holes return and the Covid-19 asset write-off

Author(s):  Chloe BURNETT,  Eugene Chan

This paper covers:

  • review the foundation principles from Sun Newspapers
  • consider recent cases and rulings
  • explore what constitutes a business
  • discuss whether a one-off venture may be a profit-making undertaking on revenue account.
Materials from this session:

No longer business as usual: Utilising tax losses

Author(s):  Stephen HOLMES

This paper covers:

  • a review of the continuity of ownership test
  • the same or similar business test, including the business continuity ruling
  • the impact of Div 35 for non-commercial losses
  • practical planning opportunities.
Materials from this session:

The pitfalls of particular financing arrangements

Author(s):  Mariana Von Lucken

This presentation covers:

  • debt/equity rules
  • converting debt to equity
  • funding from offshore
  • foreign trusts – what are the funding risks?
Materials from this session:

Keeping it in the family – Related party financing

Author(s):  Sally NEWMAN

This paper covers:

  • managing loans to “at-risk” family members
  • impact of family trust elections
  • implications of assignment or forgiveness of related party loans.
Materials from this session:

Asset protection: Hard to make, easy to lose

Author(s):  Andy MILIDONI

This paper covers:

  • what and who do we need protection from?
  • identifying who is a risk
  • identifying what is at risk if things go wrong
  • structuring to provide clients with the ultimate protection.
Materials from this session:

ATO update and hot spots

Author(s):  Tim Dyce,  Karen ROOKE

This presentation covers:

  • the Top 500 private groups tax performance program, and other supporting compliance programs being undertaken in the private groups market
  • the impact of recent litigation relating to the revenue/capital distinction and capital gains made by trusts
  • the current state of issues relating to Div 7A, s 100A and professional firms from a tax administration perspective.
Materials from this session:

Dividends and capital management into the twenties

Author(s):  David W MARKS This video covers:

  • Corporations Act and tax law dividends
  • profits or s 254T – or both?
  • frankable distributions
  • capital reduction or share buyback – what is the difference anyway?
Materials from this session: