2021 – Annual Adviser Conference – Friday all day

$490.00

SESSION 1 – When the ATO ‘comes to help’

SESSION 2 – The gain on the sale of real estate – is it actually a capital gain?

SESSION 3 – Emerging tax risks for trusts in 2021

SESSION 4 – Foreign acquirer duty and land tax surcharge Australia-wide

SESSION 5 – Family trust elections

SESSION 6 – Family constitutions

SESSION 7 – Trust and estate planning and disputes

SESSION 8 – Real world implications of financial statements and journal entries

 

 

[Running time: 7 hr ]

 

Description

SESSION 1 – When the ATO ‘comes to help’

Presented by Sarah Lancaster, Partner

The ATO has announced a program of ‘coming to help’ for the ‘Next 5,000’, as well as actively looking at JobKeeper/JobSeeker and other similar claims. This means it is likely many of us will receive a visit from them in the near future.
Are you equipped to deal with these ATO enquiries? Sarah will explore how best to interact with the ATO, sharing her strategies for successfully navigating these turbulent waters and avoiding common pitfalls.

SESSION 2 – The gain on the sale of real estate – is it actually a capital gain?

Presented by Murray Shume, Special Counsel

Many people assume that any profit on the sale of real estate must always be taxable as a capital gain. Conversely, where there is some element of property development, the expectation is often that the gain is assessable as income.
But is this correct? This session will explore situations from our files where property development gains can be concessionally taxed as capital gains, and seemingly passive property holdings result in an unexpectedly large tax bill as an income item.

SESSION 3 – Emerging tax risks for trusts in 2021

Presented by Fletch Heinemann, Partner | Caitlin McKenna, Associate

Distributing capital gains, foreign trusts becoming Australian tax residents, transferring money to Australia – the ATO has been busy around the intersection of trusts and residency. Meanwhile, temporary residents continue to benefit from generous concessions, but are they being generously applied?

SESSION 4 – Foreign acquirer duty and land tax surcharge Australia-wide

Presented by Jodie Robinson, Special Counsel | Keeghan Silcock, Associate

Most states now have additional duty and land tax surcharges where landowners are foreign entities, and this is catching out many people with family trusts. So what are the different rules in different states for family trusts, what should we think about when setting up a new family trust and what do we need to do with existing ones?

SESSION 5 – Family trust elections

Presented by Linda Tapiolas, Partner

No session on trust tax issues is complete without some discussion about family trust elections – the common traps and where we see advisers making mistakes.

SESSION 6 – Family constitutions

Presented by Clinton Jackson, Partner

Running the modern family business has many complications, especially in a COVID safe world. More and more family businesses are finding it necessary to have rules, and are turning to the family constitution to outline ‘the deal’. What is a family constitution? When is it useful (or essential) to have one? What should/could/must go in one? How can one benefit the business?

SESSION 7 – Trust and estate planning and disputes

Presented by Hayley Mitchell, Partner | Steven Jell, Senior Associate

Family trusts are very common business and investment structures, effective during the life of the people who establish them. But when that generation dies, they present both opportunities and risks. How should family trusts be dealt with as part of an estate plan and where are the risks for disputes? Hayley and Steven have seen both sides of family trusts – both as effective estate planning tools and fertile ground for disputes. They will share their experiences in how to get it right and not be the case study at next year’s conference.

SESSION 8 – Real world implications of financial statements and journal entries

Presented by Hayley Mitchell, Partner | Graham Roberts, Partner | Linda Tapiolas, Partner |Justine Woods, Partner

Financial statements are often tax driven, with great thought put into the tax treatment of different transactions. Sometimes what are sensible transactions from a tax perspective can also have other implications that
can actually be far more critical. This can include commercial, insolvency, family law and estates. Led by Linda with her wealth of experience from all sides of financial statements, our team will use examples to workshop these issues, pulling together some drivers that are not often considered.

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