Tuesday, 14 March 2017

The best of both worlds

by Matthew Pawson CTA *

The impact of technology on the way we do things has been no more evident over the past decade than in the delivery of education services in the professional sector. The Tax Institute is not immune from this trend. In fact, our Institute has responded to member demand by actively improving our online delivery platforms for its structured education, continuing professional development (CPD) and information products.

Members vary in their preferred method of engaging with education programs and CPD events. For example, many of our senior members favour the historically popular method of face-to-face delivery. Our Gen Y and Millennial members, however, increasingly demand the now-entrenched online (primarily webinar) delivery model.

Personally, I straddle these two demographic pillars. I appreciate the time and cost efficiencies offered by digital delivery and can see their appeal to consumers and employers. In fact, I regularly engage with webinars and other online delivery channels. However, I also enjoy getting out of the office and the city, when I can, for face-to-face events. I also don’t mind pulling a book off the shelf every now and then, when I need to look up the law!

The evolution of The Tax Institute

by Noel Rowland *

In February, I attended the 2017 “CEO & Chair Symposium” hosted by the Associations Forum in Brisbane.

I spoke about The Tax Institute’s journey, since my appointment almost two decades ago, to develop the structured education program, introduce the Chartered Tax Adviser (CTA) designation, and re-brand.

When I first joined the Institute, it was active and effective in tax policy and advocacy and continuing professional development (CPD).

The journal, Taxation in Australia, was also highly regarded. However, in other areas — such as education, information product delivery and professional recognition for members — the organisation had some work to do to keep up with the times.

There was also a growing appetite for change among members, who understood that the Institute needed to renew and move forward.

My colleagues and I therefore saw an opportunity for the Institute to transform and eventually take a leadership role, over the long term, in the areas that needed updating.

Friday, 10 March 2017

Are you ready for the 1 July super contribution changes?

Liz Westover, Director, PwC

A must-attend presentation at The Tax Institute’s Western Australia Superannuation Intensive this year will be Liz Westover’s workshop on ‘Contributing to superannuation’.

Liz is a Director in the Private Clients division of PwC. She is responsible for growing PwC’s presence in the SMSF market and provides technical support to the firm and its clients in superannuation and related tax matters.

She predicts that workshop participants will walk away with a comprehensive understanding of the opportunities and pitfalls of contributing to super.

“2017 may well be the last opportunity for many to make non-concessional contributions,” Liz says.

Monday, 6 March 2017

Announcing our successful Scholarship applicants

The Tax Institute is proud to announce that we had an overwhelming response to the recent national education scholarship opportunity. With over 900 individuals expressing an interest in the program, it demonstrates the increasing demand for high quality, and applied, tax training delivered by recognised practitioners.

Our education programs commenced over 10 years ago, and deliver the Institute’s vision of anticipating the needs of future tax professionals. In 2017, we have not only been humbled by the level of interest in our Programs and Single Subjects, but are excited to be sharing this special announcement with you all.

Monday, 20 February 2017

SME tax measures are too big to ignore

Colin Munro, CTA, of Munro Doig

Ideally, taxpayers should have settled on a structure that will be efficient and effective for their needs before commencing an enterprise. Of course, it rarely works out that way. The tax costs of restructuring a mature business can prove prohibitive, and even when they’re not, questions remain around what the “ideal” structure would look like, and what the advantages are.

Colin Munro, CTA, a founding director of Perth based-law firm Munro Doig says ‘Often a client’s business may be operating within an unhelpful business structure, or they may want to transfer assets or entities within a broader group’. At the WA SME Tax Measures event on 1 March, Colin will be providing a roadmap to these complex issues. 

A specialist in tax, trusts, estate planning and business structures, Colin says ‘At The Tax Institute’s SME Tax Measures Day, I’ll be discussing how advisers can assist their clients in determining the efficiency of various structures. In addition, through a case-study, I’ll examine the tax costs involved in restructuring a mature business’.