Urgent Tax Troubles for SMEs
Issues covered include: latest tax updates, latest tax legislation, recent cout rulings, excluding non-residents from CGT exemption, testimentary trusts to minors, superannuation guarantee, land tax, land exemptions, land tax grouping provisions, hybird trusts, fixed trusts, recent tax disputes, small business rollover and CGTconcessions, cash flow boost and jobkeeper scheme, Division 7A,how to bring additional stakeholder to a growing business
Description
These urgent tax issues can’t wait. Take 2 hours with 3 tax gurus and get all the essential updates: emerging issues with COVID-19 tax measures, State tax, Payroll tax and Land tax updates, plus dealing with tax in difficult times.
Attend and earn 2 CPD units
FASEA CPD Categories
2 CPD units in Technical Competence
This event offers 2 CPD hours and meets the qualifying CPD requirements of CPA, IPA, CAANZ 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
Chair: Robert Lissauer, Taxation and International Business Director, Hall Chadwick
9.00am to 9.40am: COVID-19 Tax Measures: Emerging Issues
- The Cash Flow Boost for the ‘Self Employed’
- JobKeeper – estimating GST turnover and qualification issues
- JobKeeper – alternative tests
- Anti-Avoidance considerations
- Record-Keeping Requirements
Presented by Andrew Henshaw, Director, Velocity Legal, Chartered Tax Adviser, Author of ‘Life, Death and Taxes’
9.40am to 10.20am: State Tax Relief, Payroll Tax and Land Tax Considerations
Explore State tax reliefs available to small businesses in light of COVID-19 and the relevant payroll tax and land tax considerations that will still impact your business.
- Understand available COVID-19 state tax reliefs available to small business
- Explore the relevant payroll tax considerations that will still impact your business
- Looking at how COVID-19 may shift your payroll tax liabilities to another jurisdiction where employees are now working remotely from another state
- Explore the relevant land tax considerations that will still impact your business
- Application of land tax to different land holding structures
- Land held on trust, trust surcharges and how to deal with them
- Land held by companies and the land tax grouping provisions
- Understanding how this impacts deemed corporate groups and what types of scenarios are grouped
- Looking at the ability to de-group
Presented by Denise Tan, Senior Associate, Sladen Legal Business Law Team and Associate Tax Adviser with The Tax Institute
10.20am to 11am: The “Too Hard” Basket: Managing Tax Issues in Tough Times
Whatever the economy and tax landscape looks like after this upheaval is over, SME owners will still need to deal with difficult tax issues.
This session will look at some practical ways we can assist clients deal with revenue authorities now, so that they have some control over the tax challenges they are facing.
- Director penalties
- GST from 1 April 2020
- Corporations Act exposure
- Insolvent trading relief
- Safe harbour eligibility
- Tax debt negotiation
- Dealing with Tax Disputes
- Audits
- Objections
- Appeals
Presented by Damian O’Connor, Managing Principal, Tax + Law; Chartered Tax Adviser