Year End Tax Traps
2 hours, 5 tax experts and all the essential updates: Urgent 30 June checklist, Div 7A update and the latest case law impacting year end planning.
Description
Attend and earn 2 CPD/ CPE hours
FASEA CPD Allocation: 2 hours in Technical Competence
Chair: Michael Dennis, Partner – Private Advisory, Grant Thornton; Chartered Tax Adviser
9.00am to 9.40am: Latest Court Decisions Affecting Your Small Business Clients
- Peter Greenshill Family Co Pty Ltd v FCT where the trustee of a resident trust was held to be assessable on capital gains distributed to a non-resident beneficiary
- Trustee for the Whitby Trust where a number of disclaimers made by default beneficiaries of a discretionary trust were found to be ineffective
- Trustee for the Michael Hayes Trust which considers mistakes in trust deeds and whether the Commissioner of Taxation is bound by a deed of rectification
Presented by Anna Wilson, Barrister, Foley’s List; Fellow of the Tax Institute of Australia and Committee Member of the Tax Bar Association
9.40am to 10.20am: Division 7A: 5 Most Asked Questions
Examine the 5 most asked questions about Division 7A, covering:
- The proposed reforms to Division 7A
- Traps concerning Unpaid Present Entitlements
- Issues concerning loan forgiveness
- Application of the Commissioner’s discretion in section 109RB
Presented by Frank Hinoporos, Partner, Hall & Wilcox Lawyers, Chartered Tax Adviser and George Psarrakos, Director, Mutual Trust, Chartered Tax Advisor
10.20am to 11am: Year End Review: What You Should Be Looking at Pre 30 June
- Restructuring considerations and opportunities
- Employee share schemes
- Main residence ownership for non-residents
- Any considerations arising from Government and ATO responses to Covid-19
Presented by Jacci Mandersloot, Director, MC Tax Advisors
Location Streamed From: Melbourne