Showing posts from September, 2016

CGT - 31 Years On - New Panel Session at the 24th Noosa Tax Intensive

Day one of this year's Noosa Tax Intensive was due to kick off with a plenary session from Justice Tony Pagone, a leading Federal Court judge specialising in taxation matters, speaking on recent Australian federal taxation decisions and their implications for taxpayers and their advisers.

Justice Pagone unfortunately is now unable to speak at this year's Intensive. Nevertheless, the Institute is excited to announce we have secured a number of leading tax specialists to debate on whether - after 31 years - CGT has lost its way.

Our expert panel will consider whether: 
Australia's CGT rules, and the way they are administered, are keeping pace with the rapid changes in the modern business environment in 2016 the ATO has responded adequately to, and actively engaged with, SMEs in relation to CGT issues; and "looking through the lens" of recent cases, the interpretation of CGT rules has adapted since their inception and where is this heading in the future? The agenda will…

Practically Using the Small Business Restructure Rollover - SME Tax Symposium

Dung Lam is a Senior Associate at McCullough Robertson and has practised in the SME sphere for more than a decade. Advising on a wide variety of taxes, from income tax, CGT and GST to state taxes such as payroll and land tax, Dung also assists taxpayers in tax disputes with the ATO and state revenue authorities. We spoke to her about the upcoming SME Tax Symposium, where she will present the session ‘Practically Using the Small Business Restructure Rollover’.

Effective from 1 July 2016, the new Small Business Restructure Rollover allows small businesses to potentially restructure their operations without triggering any tax implications. While the new rollover provides some fantastic opportunities for small businesses, there are traps and tips which need to be taken into account when practically applying it.

Dung told us her session will look at the “Practical issues that only come out when you actually apply the law. The rollover is deceptively drafted to read simple but it is actually …

Practical Part IVA scenarios - The 24th Noosa Tax Intensive

David W Marks, QC, CTA, is a Brisbane commercial silk, specialising in tax. He appears in court as a specialist advocate. At the 24th Noosa Tax Intensive, David will be our coordinator for the workshop on Part IVA. This workshop will explore the issues presented by Simon Steward, QC, in plenary session seven in relation to Part IVA, and how it may, or may not, be applied by the Commissioner in different practical situations.

Plenary session seven, ‘When will Part IVA be an issue with SME reorganisations?’ is presented by Simon Steward, QC, FTI (Victorian Bar) and Kirsten Fish, CTA (ATO) and examines the extent to which transactions may be formulated given the presence of the new Part IVA. In particular, can beneficial tax results only be achieved by accidental planning?

David tells us that delegates at the workshop he is coordinating will discover “the practical application of Part IVA” and it will “enrich their understanding of practical Part IVA scenarios”.
David is joined in the work…

Private Company Capital Management – The 24th Noosa Tax Intensive

Paul Lyon, ATI, is a Tax Partner with EY in Sydney. Paul will be one of more than 30 experts heading north in November for the 24th Noosa Tax Intensive where he be one of the leaders for a workshop on 'Capital Management Issues', coordinated by Scott McGill, CTA (Pitcher Partners). The workshop draws on two plenary sessions on Private Company Capital Management, presented by Paul Hockridge, CTA (Mutual Trust) and David Marschke, CTA (Mills Oakley Lawyers) on day one of the Intensive. 
Paul Hockridge, CTA, is a Tax Partner at Mutual Trust with over 30 years’ experience in tax, asset protection, estate and succession planning, FBT and salary packaging. We spoke to both Pauls about what to expect in the plenary session and the workshop.
Specialising in advising high-wealth families and closely held businesses as well as many accounting and law firms, Paul Hockridge teaches in the Masters program in the Law School at the University of Melbourne and has been involved in consultation …

Division 7A and Division 152 - The 24th Noosa Tax Intensive

Brian Richards, CTA, of Richards Advisory, has specialised in providing taxation advice to accounting and legal practitioners in respect of a wide range of business clients for approximately 40 years, or as he puts it “Has been around for a long time, but loves tax”. His particular taxation specialty areas include business restructuring, intellectual property transactions, CGT issues and tax planning matters.

At the 24th Noosa Tax Intensive in November, Brian joins workshop leaders Ash Chotai, CTA (Chotais Chartered Accountants), Neal Dallas, CTA (McInnes Wilson Lawyers), Linda Farmer, CTA (Grant Thornton), Stuart Glasgow, CTA (Mutual Trust Pty Ltd), and Maggie Millar, FTI (Grant Thornton) for a workshop on Division 7A and Division 152, coordinated by Paul Banister, CTA (Grant Thornton).

This workshop expands on the issues discussed in three plenary sessions at the Intensive in relation to private company payments and loans, and the small business CGT concessions. The case studies will …

Preparing for a future that is already here - The VIC 4th Annual Tax Forum

Almost all practitioners would agree that tax reform, technology, and globalisation will change the way the tax profession operates in the future. The problem is – the future is already here – and it has begun to affect the tax profession as a whole. How will you, as a tax adviser, prepare for these future changes at the same time that you’re grappling with current ones? Join us and a long list of thought leaders at the VIC 4th Annual Tax Forum to prepare for this brave new world.

With Parliament finally resuming after what has been a year marked with political instability and would-be tax reform, the proposed close-but-no-cigar tax measures will be right back on the Government’s agenda. Hot topics relating to tax reform, corporate tax, superannuation, and small business will resurface. These also tie in with ongoing conversations about mergers and acquisitions (M&A), diverted profits tax, base erosion and profit shifting (BEPS), country by country reporting (CbC), and multinationa…