CANCELLED: CPD Day for Trusted Advisors
Issues covered include: 2020 Tax update, COVID Measures and Their Impact on 2020 & 2021 Tax Positions, new rules limiting deductions for vacant land, offshore tax deduction, Transferor Trust regime, operation of s99B, business valuations and COVID19, keeping clients data safe
Description
Now more than ever do you need to have the latest information for your clients. Covid-19 measures have had resounding impacts on tax positions and business valuations, amongst many other long-lasting implications. This CPD Day delivers the latest updates, plus grounded, practical guidance to assist you in your business, ethics and in serving your clients. One day, 6 CPD hours, easily available online from your desk or device. Don’t miss this essential event.
This event offers 6 CPD hours and meets the qualifying CPD requirements of CAANZ, CPA, IPA and FASEA.
Please note to count towards the minimum 28 hours of licensee approved CPD hours, your licensee is required to approve this event.
Session 1
Critical Practice Updates for Trusted Advisors
Chair: Dr Brett Davies, Legal Consolidated
9.00am to 9.45am: 2020 Tax Update: COVID Measures and Their Impact on 2020 & 2021 Tax Positions
Presented by Daniel Taborsky CTA, Director, Birchstone Tax Law; Lecturer in Advanced Australian Corporate Taxation, University of Western Australia
9.45am to 10.30am: New Rules: Limiting Deductions for “Vacant” Land
- Which clients will be affected
- When land with houses/units on it is treated as “vacant”
- Treatment of expenses denied a deduction
- Practical examples
Presented by David Montani CTA, National Tax Director, Nexia Australia
10.30am to 10.45am: Morning Tea
10.45am to 11.30am: Offshore Trust Taxation
- Traps and difficulties with the Transferor Trust regime
- Recent ATO rulings on offshore trusts
- Problems with recognising overseas trust
- The operation of s99B: what you need to know
Presented by TBC
11.30am to 12.15pm: Business Valuations in Uncertain Times
- Business Valuation Fundamentals
- Impact of COVID-19 on Australian Economy
- Implications for Business Valuations
- Common issues: Tips, traps and advice
Presented by Nadine Marke, Partner and Lead Valuations and Litigation Support, RSM; Accredited Business Valuation Specialist CAANZ
Session 2
Professional Skills for Trusted Advisors
Chair: Dr Brett Davies, Legal Consolidated
1.00pm to 2.00pm: Ensuring Your Firm Is Client Focused for Greater Profitability
- How to move your firm to a client oriented firm for greater profitability
- How to rank your clients?
- Are all clients good clients? What is a good client?
- Effectively using your client database as an asset
Presented by Kim Mead, Director, Practice Management Professionals
This session offers 1 FASEA CPD Point in Client Care and Practice
2.00pm to 3.00pm: How to Keep Your Clients’ Data Safe
- How to instill safe cyber security practices within your firm
- A guide to carrying out a formal security and privacy assessment
- Tips and Traps on cyber security insurance
- Managing data breaches effectively and complying with privacy legislation
- How to avoid litigation and ransom demands effectively
Presented by Travis Kenzle, Managing Director, KBI and Jonathan McCoy, Managing Director, Casobe & Co
This session offers 1 FASEA CPD Point in Regulatory Compliance and Consumer Protection
3.00pm to 3.15pm: Afternoon Tea
3.15pm to 4.15pm: Facing up to Ethical Challenges
It goes without saying that the recent period has thrown up a myriad of ethical challenges. Companies, directors and their advisors have had to navigate through the ethical minefields of Royal Commissions, cultural scandals and corporate collapses. What do you do when faced with an ethical challenge? How should you respond when put in a situation that challenges your ethics? Working through examples, this presentation will attempt to navigate a way through with practical advice and sensible guidance.
Presented by Adam Levine, Partner, K&L Gates
This session offers 1 FASEA CPD Point in Professionalism and Ethics
Learning Outcomes
- Hear the latest tax and Budget updates
- Understand the new rules around deductions for vacant land
- Know the impact of international laws on family trusts
- Clarify your knowledge on business valuation
- Strengthen your cyber security practices and keep your clients’ data safe
- Ensure your practice is client focused
- Understand how to face ethical challenges