shopping_cart

Your shopping cart is empty

NSW Tax Forum

Published on 19 May 2022 | Took place at Sofitel Sydney Wentworth, NSW

This event covered some of the following topics:

  • Fixing a Division 7A mess
  • Division 7A – Keeping it tidy
  • Property development – How do you help the new property developer?
  • Taxing the home – CGT and land tax considerations
  • Trusts distributions
  • Update on OECD’s Pillar 1 and 2 proposals
  • International tax focus on intellectual property
  • Investment in Australia – ATO engagement
  • Voluntary disclosures and penalties 101
  • Everyone’s a property developer?
  • Property Development Agreements (PDAs)
  • Gig economy and payroll tax implications
  • M&A and demergers – The public/private dichotomy.

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

shopping_cart Add all items to cart - $3,158.45
Individual sessions

Fixing a Division 7A mess

Author(s):  Matthew McKEE

This presentation covers:

  • Typical scenarios where Division 7A problems may occur undetected
  • Identifying a Division 7A problem
  • What to do about the Division 7A problem
  • The process and approach to seeking the Commissioner’s discretion under section 109RB to disregard a deemed dividend. 
Materials from this session:

Update on OECD’s Pillar 1 and 2 proposals

Author(s):  Richard J VANN

This paper covers:

  • An update on the OECD’s Pillar 1 and Pillar 2 proposals
  • An overview of the Pillar 2 domestic law change proposals as outlined in the model rules
  • An overview of the Pillar 2 treaty-based changes as outlined in the model treaty provisions
  • An analysis of implementation issues and next steps. 
Materials from this session:

International Tax Focus on Intellectual Property

Author(s):  Nick Maley,  Charlotte Brierley,  Alison Tang

The ATO has increased its focus on intellectual property (IP). Whether the IP is moved as part of a corporate restructure, developed as part of a tech start-up or merely used in an ongoing enterprise, the tax outcomes will need to be carefully considered.

This paper focuses on:

  • The ATO’s latest approach to the use of IP (including the latest guidance)
  • The taxation outcomes of migrating IP
  • Common traps
Materials from this session:

Property development agreements (PDAs)

Author(s):  Brendon Lamers,  Andrew SOMMER,  George Hempenstall

We’re now seeing a range of developers consider these agreements as a way to get into a project and create commercial outcomes without necessarily purchasing the real asset for the purpose of redevelopment.

Materials from this session:

Property development – How do you help the new property developer?

Author(s):  Sam Ayoubi

This paper considers some scenarios where private owners find themselves in a position to take advantage of property development opportunities, and the tax issues that arise.

Case studies will include considerations around:

  • Granny flats/different structures relating to property
  • Deveopments for the small-to-medium enterprise (SME) market
  • Joint venture and development agreement structures
Materials from this session:

Investment into Australia – ATO Engagement

Author(s):  Keir CORNISH

Investing into and divesting out of Australia can be challenging.

This presentation focuses on:

  • Tax considerations for the FIRB applications
  • The ATO’s New Investment Engagement Service, how it works, who is eligible, experience to date, and
  • What are the options for dealing with increased scrutiny of investment into Australia?
Materials from this session:

Gig economy and payroll tax implications

Author(s):  Andrew Rider

With many implications to consider about the gig economy, this paper discusses:

  • Who is an employee/who is a contractor
  • Employment agency rules and other commercial arrangements
  • Jurisdictional nexus issues
  • Related payroll tax impacts
Materials from this session:

Taxing the home - CGT and land tax considerations

Author(s):  Jim Koutsokostas,  Todd Bromwich,  Bradley White

For many, the family home represents a significant source of wealth, but the CGT and land tax rules applying to the family home are not necessarily straightforward. This paper covers a number of key tax considerations of holding and disposing of the family home, including:

  • A refresher on the CGT and land tax concessions
  • Moving overseas – are the CGT and land tax concessions available, and will surcharge land tax apply?
  • Application of the rules when moving homes
  • Generating income from the family home, and absences
  • The family home as an asset of a deceased estate
Materials from this session:

Voluntary Disclosures & Penalties 101

Author(s):  Angelina Lagana,  Claudia Mitchell

Voluntary disclosures are an important risk mitigation process that taxpayers can deploy in order to reduce the potential amount of tax penalties and interest arising from tax short shortfalls. In the world of “double penalties” within which SGE’s (including their subsidiaries) and other large taxpayer groups now operate, understanding the strategic importance of voluntary disclosures for all taxpayers is critical, particularly the points in time when making a voluntary disclosure is most effective.

This paper covers:

  • The basic mechanics involved in making a voluntary disclosure and requests for remission
  • Some of the drivers and matters to consider in advance of making a voluntarily disclosure to the Commissioner
  • The timing of a voluntary disclosure and whether any other options are available
Materials from this session:

M&A and demergers – The public/ private dichotomy

Author(s):  Clint Harding,  Danielle Ou

This paper will cover a range of issues including:

  • Where is the Commissioner at with demergers and rollovers generally?
  • What are the key legislative differences between public and private companies when it comes to M&A?
  • Does the ATO approach demergers for private groups differently?
  • What does the future hold?
Materials from this session:

Trusts distributions

Author(s):  Dung Lam

The ATO’s renewed focus on section 100A has put trust distributions in the spotlight, particularly the scope of the income-splitting advantages of a discretionary family trust. While it is important to be aware of the ATO’s position on section 100A, there are other relevant issues concerning trust distributions, which are important to be aware of since they are also generally raised in ATO risk reviews. This presentation examines not only the current public draft ATO guidance provided in relation to its application of section 100A on family trust distributions and its views of the ordinary family or commercial dealing exception, but also:

  • The impact of the family trust election rules on trust distributions – in particular the issues that may arise on marriage breakdown, death or addition to the family
  • Responding to ATO queries concerning the source of overseas settlements of corpus
  • Managing the particular tax attributes and interactions of foreign income, gains and foreign beneficiaries, through either resident or nonresident trusts
Materials from this session:

Residency in a post-COVID world

Author(s):  Chris ARDAGNA This video will provide an overview of:

  • The impacts from COVID-19 on Australian tax residency of individuals, companies and super funds
  • Employees stranded in a foreign country – does this create a branch?
    • Materials from this session:

    eCommerce and internet taxation – what are the top five tax issues associated with online shopping?

    Author(s):  Annemarie Wilmore,  Prashanth Kainthaje

    eCommerce has touched all aspects of business: technology infrastructure, business-to-business commerce and business-to-consumer commerce, and has opened up a raft of opportunities for advertising and marketing strategies and business models.

    This paper will explore current ATO focus areas relating to ecommerce and internet taxation, including:

    • Transfer pricing issues relating to the Development, Enhancement, Maintenance, Protection and Exploitation (DEMPE) of intangible assets
    • GST on sales of goods and imported services and digital products
    • Business structuring, changes in mode of operation and implications such as Multinational Anti-Avoidance Law (MAAL) and Diverted Profits Tax (DPT)
    • Customs and R&D
    Materials from this session:

    Good professional practice

    Author(s): 

    Materials from this session:

    The Economic and policy Outlook for Australia

    Author(s):  Nicki Hutley

    This session covers macroeconomic trends relevant to business confidence, and also provides the backdrop to the use of tax policy as a way to achieve the government’s economic objectives.

    Materials from this session:

    Asset expensing measures – What you need to know

    Author(s):  Raffi Tenenbaum,  Rhiannan Canto

    This session will provide an update on the asset expensing measures, including scope, eligibility and disclosures required for the income tax return. Discussion points include:

    • Asset expensing measures
    • Temporary full expensing
    • Instant asset write-off
    • Backing business investment
    Materials from this session:

    SMSFs and NALI – What you need to know

    Author(s):  Craig DAY

    This presentation focuses on the NALI ruling and its impacts on SMSF trustees, and practitioners advising and assisting SMSF members and trustees. There will also be discussion on the ATO approaches to NALI, and address important elements related to the fund’s documentation and preparation to mitigate the risks.

    Materials from this session:

    An update on Legal Professional Privilege

    Author(s):  Jeremy GEALE,  Catherine Dean

    With a number of recent Federal Court decisions and the release of draft protocols by the Australian Taxation Office, the past 12 months have seen significant developments in the area of legal professional privilege (LPP) impacting upon the rights of taxpayers to claim LPP over tax advice and communications with their advisers. Taxpayers are at risk of having to disclose confidential advice and communications that they may have thought to be protected by LPP or concede claims due to the costs involved in defending those claims.

    This paper examines:

    • The back story and history of LPP in tax
    • The recent Federal Court decisions and implications going forward
    • The ATO LPP protocols and interplay with the recent decisions
    • Practical steps that can be followed to preserve LPP and avoid costly disputes with the ATO
    Materials from this session:

    SMSF – Regulatory and compliance update

    Author(s):  Leigh Mansell

    This paper focuses on some of the latest legislative and regulatory updates related to SMSFs and considers their impacts on SMSF trustees and practitioners. The presentation will also cover relevant case law and ATO rulings and determinations relevant to SMSFs.

    Materials from this session:

    Employee vs contractor as an emerging Issue

    Author(s):  Amanda Comelli,  Matthew McKEE

    As an emerging issue, there is much to discuss in the area of employee vs contractor. This paper will explore:

    • Who is a contractor, who is an employee?
    • Why do we care?
    • What are the indicia of an employee relationship?
    • What are the indicia of a contractor arrangement?
    • What to do if you have got it wrong.
    Materials from this session:

    Pass go and collect $200 – How to pass the aggregated turnover test and access tax savings

    Author(s):  Marcus Polovineo,  Lauren Whelan

    It seems that many of Australia’s recent tax changes (and incentives) will limit the aggregated turnover test’s application to taxpayers below a certain aggregated turnover.

    In this session we explore:

    • What is aggregated turnover, including the meaning of connected and associated entities
    • What aggregated turnover thresholds apply to recent tax changes, including the loss carry back rules
    • What a taxpayer should consider at year end to utilise the loss carry back rules
    Materials from this session:

    Environmental markets – An overview of carbon and biodiversity credit schemes in Australia and their taxation treatment

    Author(s):  Samantha Daly,  Lachlan Smithers

    Environmental credits – what are they and how do you tax them?

    This paper covers:

    • An overview of the Emissions Reduction Fund and Australian Carbon Credit Units (ACCUs), including how credits may be generated
    • The proposal for new Safeguard Mechanism Credits – what is proposed and what projects would be eligible
    • The Reef Credit Scheme•An overview of the biodiversity credit schemes in Australia, including how credits are generated, traded and retired
    • The roles and responsibilities of various parties in credit trading schemes (eg landowners, philanthropists/environmental groups, developers, brokers and government)
    • Taxation treatment.
    Materials from this session:

    Intergenerational wealth transfer

    Author(s):  Chris TSOVOLOS

    Balancing the family objectives, tax planning and wealth protection is essential to transitioning wealth from one generation to the next. Wealth protection from relationship breakdowns, deceased estate claims and business risks are concerns that drive modern-day succession planning. Client structuring often involves the use of trusts, private companies and self-managed superannuation funds.

    This paper illustrates by practical case examples the use of private companies, discretionary trusts and testamentary trusts to pass inheritance to the next generation, including:

    • Understanding the clients’ current structures
    • Amending trust deeds and company constitutions
    • Using testamentary trusts, including income splitting with beneficiaries, CGT death rollovers and duty concessions
    Materials from this session:

    Update on hybrid rules – What’s new and emerging issues

    Author(s):  Mary Hu,  Ryan Leslie ,  R CORRIGAN

    So you thought there was nothing new to know about hybrids? This paper provides an update on the emerging issues in the hybrid space, including the ATO’s recently released guidance on imported mismatches, and the ongoing practical and technical issues associated with comparing hybrid regimes.

    Materials from this session:

    Dividend access shares

    Author(s):  Adrian Bailey

    Taxpayer Alert 2012/4 caused many advisers to reconsider the use of dividend access shares for their clients. However, subsequent ATO audit activity has shown that in many cases, these types of shares are not used for the purposes outlined in the Taxpayer Alert but for a variety of other legitimate purposes.

    This paper will examine the use of dividend access shares for clients and the legal considerations needed to implement them properly, along with other issCompleteues in relation to their use such as access to the small business CGT concessions and tax rate differentials caused by the small business entity tax rate rules.

    Materials from this session:

    The market value of land under taxation legislation

    Author(s):  M SEYMOUR

    A discussion of the caselaw involving general valuation principle for the determination of the market value of land and the potential for the use of such principles in actions taken under taxation legislation.

    Materials from this session:

    Preparing a business for sale – Getting it right and when to start

    Author(s):  Spyros KOTSOPOULOS,  Nima Karimian

    With the growth of the private equity players and the consolidation of certain industries, private businesses need to properly plan not only for growth but also for the potential that they will be acquired.

    This paper goes through the process of:

    • Being ready for sale
    • The relevant timelines
    • Potential tax considerations to be given
    • Relevant non-tax factors that need to be tidied up beforehand

    To the extent there are significant tech plays involved, additional issues may arise.

    Materials from this session:

    Private Rulings – Are they worth it?

    Author(s):  Paul MCNAB

    This paper will arrive at an answer to the framing question by considering the legislative framework and case law in order to understand the scope of the Private Ruling system, its uses and limitations.

    This paper covers:

    • Division 359 – what is a private ruling, how do you get one, what is the effect of a private ruling, what can you do if you are dissatisfied with one, other specific references to the private rulings in the Act
    • ATO guidance – ATO public statements on private rulings, relationship to the law
    • Case law – issues that have been litigated, what the cases tell us about the limitations and benefits of the private rulings system
    • Brief comparison of the Private Ruling system with other approaches to issue clarification
    • Concluding recommendations
    Materials from this session:

    CGT rollovers

    Author(s):  Danielle Constantine

    This paper will consider current topical issues relating to CGT rollovers and restructures, including:

    • The Board of Taxation’s proposal to establish a general business rollover to replace seven common rollovers
    • Issues with attempting to use the demerger relief
    • SME and tax consolidation.
    • This presentation will use practical examples to illustrate issues.
    Materials from this session:

    Flashback to the 1960s and 70s – Wealth structures and strategies and tax issues in in the twenty-first century

    Author(s):  Andy MILIDONI

    Dust off your platforms and flares and step back in time. Exploring the unique tax issues that have arisen since wealth structures were established in the 1960s and 70s, this paper will cover:

    • Review of wealth structure – what worked then compared with what works now
    • Review of 1960s and 70s trust deeds. What are the main issues?
    • Can I amend the trust deed, eg through the addition of beneficiaries, streaming provisions and change to the vesting date? Have I resettled the trust?
    • Maintaining the structure in the twenty-first century – preserving pre-CGT status of assets, family trust elections, the effect of CGT event K6 etc
    • When to pull the pin – some winding-up strategies and associated taxation issues
    Materials from this session: