Trusts, the GAAR Panel, CGT and more - a look at the NSW Annual Tax Forum program

This year’s NSW Annual Tax Forum takes place just two weeks after the Federal Budget is announced, giving us all some time to digest the Government’s announcements, and for questions on just how policy changes will affect our clients to begin to arise.

Gareth Aird, a Senior Economist at the Commonwealth Bank, will ask ‘How is the Australian economy going?’ and cover key themes from the 2018/19 Federal Budget in his session on day two of the Forum.

Also taking place in the Forum’s Corporate Stream is ‘Part IVA – Perspectives & observations on the GAAR Panel’. 

Kristen Deards
While practitioners have generally responded positively to the Panel as a feature of the tax dispute resolution process, some have also raised issues with the process for obtaining preliminary advice from the Panel.

In the session, experienced panel members Jonathan Woodger (PwC), Fiona Knight, CTA (Australian Taxation Office) and Kristen Deards (Banco Chambers) look at the role of the GAAR panel and how you can best present your case.

Facilitated by Prof. Michael Walpole, CTA (UNSW), the session will also cover the pros and cons of attendance and look at how the Panel makes decisions.

The Forum’s strength has always been its technical focus, and this is no different in 2018. Here we take a quick look at three key sessions covering trusts, superannuation and estate planning, and capital gains withholding.

Trusts were in the headlines for much of 2017 with the opposition Labor party making a number of pronouncements regarding possible changes to how they can be used. Whatever the state of play following the upcoming but as yet unannounced Federal Election, there are still a host of issues causing headaches for practitioners.

In the first of the two-part session ‘Practical Issues with Trusts’, Andrew Noolan, CTA (Brown Wright Stein Lawyers) looks at the areas where recent or not so recent changes in law or the ATO’s approach are causing concern.

A Partner in the Sydney law firm Brown Wright Stein Lawyers, Andrew specialises in tax issues common to the SME and high-wealth individual sectors.

Andrew Noolan, CTA
From the proposed Division 6 rewrite and the ATO’s focus on arrangements to circumvent the law as it relates to Division 7A and UPEs, to the renewed activity on the application of s 100A to reimbursement agreements, Andrew will provide updates or more detailed consideration of the issues at hand. His session will also look at trustee resolutions, Bamford amendments, and trust resettlements.

Almost a year on and superannuation advisers are still dealing with 2017’s major reforms. In ‘Superannuation and Estate Planning’, Daniel Butler, CTA, (DBA Lawyers) will cover the latest strategies for advisers, and look at issues ranging from when super will be covered by a member’s estate in respect of death, and relying on binding death benefit nominations, through to SMSF wills, reversionary pensions, and important succession steps for every fund member.

Recognised as one of Australia’s leading SMSF lawyers, Daniel has worked predominantly in the fields of tax and superannuation over the past 30 years.

Craig Milner, CTA
With the CGT withholding rules now having been in place for almost two years, Craig Milner, CTA (Allens) will present a range of examples and case studies to highlight some key learnings from practice for residential land and business sales as well as public mergers and acquisitions.

Presenting this session from our Hot Topics stream, Craig is a Partner in the Allens Tax group, a lead taxation lawyer in transactions and projects for clients including in the funds, real estate, finance and energy sectors.

Looking at when purchasers need to withhold, he will cover the declarations and/or certificates that can be provided as a seller, the clauses sale agreements need to include, and the consequences for failing to withhold.

As part of our commitment to help nurture the future of the tax profession, the emerging leaders stream at the Forum is a specially developed four-hour program designed for people who have under five years’ experience in tax, and are looking to build their technical skills while mixing with like-minded professionals.

Four specially selected sessions are included: Current Issues and Challenges for Revenue vs Capital; Tips and Traps in relation to structuring for business or investments; Update on Trusts; and How to Make the Most of Your Career in Tax.

Open to those who have not attended NSW Tax Forum before, this new program is priced at just $195. You can find out more about it here.

The Forum’s full program features 42 sessions and 60 expert presenters across its four streams, with ample opportunity to network with other delegates at the networking drinks and conference breaks.

Join us 24-25 May, at the Sofitel Wentworth Sydney, for the NSW 11th Annual Tax Forum. View the full program and event details on our website.

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