With the Budget just passed and a Federal election around the corner, 2016 has certainly (positively) geared up to be the year of tax. Perhaps it hasn't been the rigorous tax reform that the country was holding its breath for, but new changes still affect both the SME tax adviser and corporate practitioner. And in typical tax style, more complexities emerge from the usual suspects – superannuation, Division 7A and multinational tax avoidance. What do these mean for you and your client? Hear from Australia’s leading tax minds at the 9th NSW Annual Tax Forum.
Post-Budget, pre-election and everything in between
It’s officially election season! What does this mean for the tax world? Hear about it first hand from Assistant Treasurer, the Hon Kelly O’Dwyer MP and Shadow Assistant Treasurer, Dr Andrew Leigh MP, who will both speak at a new breakfast session on Friday 3 June to shed light on key tax measures post-Budget and pre-election. A Q&A session at the end of each presentation will ensure delegates have their say.
The long arm of the (tax) law
The SME and corporate sector have both had their fair share of attention this year. Small businesses seem to have come out the winner from the Budget and the Panama Papers leak has thrown large multinationals into the limelight with issues of tax avoidance. All of a sudden, all eyes are on the tax profession.
This year’s event offers three streams to delegates to tailor their understanding of the long arm of the (tax) law. The SME, corporate and hot topics streams each boast keynote speakers who are respected leaders in their fields.
Different perspectives, one objective
For practitioners at the bigger end of town dealing with M&A transactions, the tax consolidation landscape remains in a constant state of flux. Wayne Plummer’s (PwC) session will provide an analysis of recent and proposed consolidation changes as part of the broader tax reform process.
In addition, the acquisition of businesses continues to represent an important linchpin of corporate growth strategies. Julian Cheng and Michael Jeffreys (Deloitte) discuss the complexity of the existing legislative framework amidst financing considerations such as thin capitalisation, transfer pricing and maximising recoverability through appropriate structuring.
From the SME perspective, Ken Schurgott, CTA (Life) will delve into trust streaming issues and how to steer your clients through the practical problems of compliance with tax laws. Laid out on the table are issues on absolute entitlements, bare trusts, CGT events A1 and E1 and speculation as to what impact new legislature might have on trusts.
And then we come to the usual suspect: Division 7A. New, as well as recurring issues rear their heads. What do you do about a pre-December 1997 loan that is still on the balance sheet? What structuring opportunities are available to minimise the impact of Div 7A? Professor Gordon Cooper, AM, CTA (Life) will speak on why Div 7A is still an ongoing issue for practitioners.
Insider information: the ATO’s perspective
Want some insider intel on how to get your issue dealt with at the ATO?
Hear from senior members of the ATO on when a ruling might be a good idea, and what other options are available if a ruling isn’t appropriate or available. Find out about the ATO "safe harbours" and administrative guidance. How reliable are they? Tim Dyce (ATO) will also discuss the ATO’s “test case program”, which is not widely known. Insider information indeed!
2016 has ramped up to be a year of high tax activity. With SME and corporate tax activity comes opportunities and risks. SME advisers have their hands full with new small business and superannuation changes, whilst larger corporates deal with the increasingly active M&A market against a favourable lending market. Join us, the Treasurers, ATO representatives and high calibre tax advisers at this year’s 9th NSW Annual Tax Forum to grapple with these issues together.
The 9th NSW Annual Tax Forum takes place 2-3 June, at the Sofitel Wentworth Sydney. Featuring 42 sessions over two days, it includes up to 14 CPD hours, and features a range of flexible ticketing options. Find out more.