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Tax Wrap 2009

Published on 13 May 2009 | Took place at Taxation Institute of Australia, Sydney, NSW

This event was aimed at advisers of businesses who want to reduce their tax bills coming up to 30 June and who want ideas as to what should be done in the current economic climate.

As we approach 30 June 2009 there are things that can still be done to reduce your client’s 2009 tax bill. The current economic climate and recent tax and superannuation law changes mean it is important to start considering what can be done for the future.

Individual sessions

Tax wrap 2009

Author(s):  Scott McGill

This paper covers:

  • year end tax planning - a quick overview of the usual tax planning issues, along with consideration of concepts unique to this year's tax planning including the Small Business and General Business Tax Break
  • economic climate issues - falling asset values mean that you can consider restructuring or transferring assets where it would otherwise be cost prohibitive. In addition if your client's businesses are falling in value or are not as profitable it may be time for a fresh look at Division 7A loans
  • ongoing structuring and planning issues including:
    • how the small business entity rules impact on planning
    • the ATO's ongoing focus on professional practice structures
    • trust issues being under the spotlight as a result of recent court decisions and ATO announcements.
Materials from this session: