Showing posts from December, 2014

Financial Services Taxation Conference Speaker Profile: Judy Morris CTA

Judy Morris joined the Australian Taxation Office in 2009. Prior to joining the Tax Office, Judy was a Corporate Tax Partner with a large advisory firm. She has also worked as Head of Tax for a large Australian listed group.

How long have you been affiliated with The Tax Institute?

I have been a member of the Tax Institute since 2001.

What does the Financial Services Taxation Conference mean to you, and more broadly, to the tax industry?

The Conference is an important opportunity to hear about issues specifically relevant to financial services and share experiences and perspectives.

What is the topic that you are presenting at the Financial Services Taxation Conference and what can attendees expect to learn?

My colleague James Campbell and I will present on the ATO’s Changing Approach to Resolution of Banking and Finance Industry Issues.
Delegates will learn about approaches the ATO is using through its Banking and Finance Strategy for the identification and resolution of key areas of co…

Wishing you a safe and happy festive season

I’d like to take this opportunity to wish you all the very best for the holiday period. I look forward to bringing you more great benefits and opportunities in 2015.

With the year quickly coming to a close, I wish to acknowledge those who have volunteered their time and hard work, both this year and over the last 71 years, to make The Tax Institute the success it is today. In particular, a very big thank you to our committees, volunteers, National Council, and particularly Michael Flynn, 2014 president, for their valuable contributions throughout the year.

Launch your employees’ tax career by studying the Graduate Diploma

Since its launch, we have received many enquiries regarding how candidates can secure a career advantage by studying for the Graduate Diploma of Applied Tax Law.

Your employees can join the 2015 program now. Once they have reviewed the Graduate Diploma brochure, key dates and fees, and FAQs, we recommend that they locate their:
current resume; andacademic transcripts. …

National Convention Speaker Profile: Andy Hutt

Andy Hutt is the leader of KPMG’s Global Mobility Services in the Asia / Pacific region and is responsible for ensuring that their clients receive a consistently high standard of service across the region.

He is also the partner in charge of the Australian Global Mobility Services Practice. Andy has more than 20 years’ experience in Australia and the UK of advising clients on the taxation and financial aspects of both employee mobility and incentive arrangements.

How long have you been affiliated with The Tax Institute?

Twelve years.

What does the National Convention mean to you, and more broadly, to the tax industry?

It’s a great opportunity to share your experiences with peers and to contribute to the ongoing high performance of the profession.

What will you be presenting and what can attendees expect to learn from your session?

I’ll be discussing tax issues in structuring an effective executive package. I’ll cover topics such as: Taxation of employee shares and optionsRemuneration gove…

Tax policy and advocacy

One of the things that surprised me in my early months as president is the number of submissions that the Institute makes to government and the ATO. Most of the submissions are the result of collaboration between our members and our three Tax Policy staff. During the year to date, the Institute has made over 50 submissions and has been involved in a number of consultations, including:
the unenacted “protection measure” changes (protecting taxpayers in respect of certain unenacted measures that are not proceeding);changes to employee share schemes;changes to managed investment schemes;CGT and non-resident issues and superannuation matters; and the House of Representatives Tax and Revenue Committee which is responsible for, among other things, scrutiny of the ATO, including the ATO’s handling of tax disputes. We have also consulted with the Board of Taxation on its reviews of Div 7A, the debt/equity tax rules, the thin capitalisation arm’s length debt test, and the review of
tax impedime…

Looking back

This is my final President’s Report, so I cannot help but reflect on the past year.

Personal highlights have been attending the various conventions where I have had the opportunity to meet many of our members, representing the Institute before government, and working closely with Institute staff on a number of projects.

The Institute has clocked up a number of achievements over the past year. While each is significant in its own right, when you look at them collectively, they reflect a move away from the Institute’s traditional focus on providing smaller state-based professional development seminars.

First, the Institute achieved a major milestone in becoming recognised as a “higher education provider” and launching the Graduate Diploma of Applied Tax Law in October.

Second, the Institute introduced four new courses as part of its education program:
Tax for Financial Advising;Advanced Superannuation;Tax for Trusts in Estate Planning and Wealth Management; and Corporate Tax. Third, we h…

Upcoming CPD events

30th National Convention

Recognised as Australia’s premier taxation conference, the National Convention is being held at the RACV Royal Pines, Benowa, in Queensland on 18 to 20 March 2015.
This year, the National Convention will celebrate its 30th anniversary and we have much planned for this milestone.

This is the tax profession’s key annual event, so why not be part of it?

As always, the convention has been developed by an expert team, with over 30 sessions addressing the latest tax issues and a program that is technically relevant and practical. It is designed to meet the needs of tax professionals in all industries, at all stages of their career.

With a packed social schedule (including everything from networking with like-minded professionals and attending the trade show featuring exclusive offers from our business alliance partners, to attending the gala dinner where we will announce the Tax Adviser of the Year Awards), the National Convention is the must-attend event for tax pr…

ATO's National Tax Liaison Group

Earlier this week, Tax Institute President, Michael Flynn CTA, and Vice-President, Stephen Healey CTA, joined me at the ATO’s quarterly National Tax Liaison Group meeting.

At this meeting we discussed issues with the senior leadership of the ATO and Treasury, including:
review of ATO advice and guidance: exploring the concept of ‘enabling’ ATO guidance, to facilitate mutual risk mitigation and allow for more useful guidance - sunset clauses, restricted reliance to classes of taxpayers and/or conditions on reliance (such as reporting / attestation requirements);a project led by the Tax Institute to review and clean-up (initially part of) the existing suite of ATO advice and guidance;identifying ways to increase timeliness of administrative or policy-based responses – how best to raise the ‘on the horizon’ issues;the impact of possible compliance strategies on the ATO/taxpayer relationship and how the profession can foster willing participation;progress of announced tax measures;update …

Financial Services Taxation Conference Speaker Profile: Peter Oliver CTA

Peter Oliver is a Partner in the Financial Services Group at KPMG. He has over 15 years experience advising clients on corporate matters, mergers and acquisitions and cross-border transactions within the financial services sector, particularly insurance, life insurance and funds management. He is heavily involved in industry consultation with Treasury and the ATO on life insurance and wealth management tax issues, both through the Financial Services Council’s Life Insurance Tax Working Group and on behalf of clients.

How long have you been affiliated with The Tax Institute?

I have been affiliated with the Tax Institute for most of my career, attending various events including the Financial Services Taxation Conference.

What does the Financial Services Taxation Conference mean to you, and more broadly, to the tax industry?

I consider the Financial Services Taxation Conference to be the leading tax conference for the financial services sector, drawing together leading advisers and corpora…