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TASMANIAN STATE CONVENTION 2003 - WIRED FOR TAX
Published on 17 Oct 2003 | Took place at Eastcoaster Resort, Orford, TAS
The last 12 months has once again posed enormous challenges to taxpayers and tax practitioners alike. Tax reform continues at a heavy pace, and the ATO's compliance program suggests that they have greater expectations of taxpayers and tax professionals than ever. And, of course, there continues the usual barrage of new legislation, rulings, announcements and cases.
The program for this convention ranged from cutting edge issues such as consolidation and the new financial services reform rules, to a fresh look at business structures for SMEs, as well as a look at what's new in taxation of property. It included updates on superannuation, interest deductibility, and general developments in tax. Last, but not least, an examination of Part IVA from the ATO's perspective will help stop us from getting too many unwanted shocks!
Get a 20% discount when you buy all the items from this event.
Individual sessions
Business Structures for SMEs
Author(s):
Gil LEVY
This seminar paper covers the following topics:
Gil Levy also presented this paper at the Tasmanian State Convention 2003 in Orford on 17 October 2003.
- basic structure for maximum CGT and income tax efficacy
- structuring to negatively gear
- advantages and disadvantages of a discretionary trust to access the CGT concessions
- using a company owned by a discretionary trust or trusts
- using a partnership of discretionary trusts
- small business concessions case study.Materials from this session:
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General Tax Update
Author(s):
Peter THOMPSON
This convention paper provides an update on recent cases,
announcements and rulings of relevance to tax practitioners.
Materials from this session:
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Interest Deductibility Post Business Cessation
Author(s):
Justin DABNER
This presentation covers the following issues:
- recent cases - Hart, Jones & Firth
- interest incurred after income has ceased
- split loan products.
Materials from this session:
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Property Development - some selected tax issues
Author(s):
Ron JORGENSEN
This seminar paper covers the following topics:
- trading stock v capital distinction
- allocation of service expenses to trading stock cost
- trading stock arbitrage by using a captured construction entity
- acceleration of construction costs
- selection of development vehicle
- restructures and land partitions
- stamp duty
- GST
- serviced apartment depreciation phenomena and ATO crackdown.
Materials from this session:
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Superannuation Update
Author(s):
Sharyn LONG
This convention paper covers the following topics:
- reasonable benefit limits
- taxation of benefits
- flexible pension strategies
- ATO audit activity
- CenterLink benefits.
Materials from this session:
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Financial Services Reform Act
Author(s):
Germana VENTURINI
This convention paper covers the following topics:
Germana also presented this paper at the Tasmanian State Convention in Orford on 18 October 2003.
- recent superannuation changes that tax practitioners must know
- flexible pension strategies
- designing the most effective retirement strategy for your client
- how does that relate to your client's estate planning strategy
- key licensing and disclosure requirements of the Financial Services Reform Act, including a discussion of 'financial product advice and incidental advice'
- major issues, impacts and options for superannuation, accounting and legal professionals
- how to plan and be ready for the changes ahead, and what tools and systems you may need.Materials from this session:
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Consolidation for SMEs
Author(s):
Ken SPENCE
This presentation demystifies the tax consolidation laws. Its focus will be on the approach that SME advisers could take when asking themselves the question: does the consolidations regime add benefit to my SME client or not? Questions answered include:
Ken also gave this presentation at the Tasmanian State Convention in Orford on 18 October 2003.
- Which clients does consolidations apply to?
- What are the benefits for the owners of consolidating?
- How does consolidations affect trusts and partnerships?
- What are the financial accounting affects of consolidating?
- What do you have to do to consolidate and by when?
- What happens if your client sells off part of a business or purchases a new business?
- What are the ramifications for losses and imputation credits?Materials from this session:
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