Property Taxes: Post-Budget Insights
With the NSW budget to be handed down on November 17, we’ve gathered legal and accounting experts to provide you with the need to know information on property tax topics like land tax, duties, developer and subdivision issues, concessions, strata, deceased estates, COVID-19 measures, CGT and Main Residence Exemption and vacant land provisions. Whether you specialise in property law or you just want to ensure your knowledge is up to date in this fast changing area, this seminar is for you.
Description
Attend and earn 3 CPD units in Substantive Law
This program is based on NSW legislation
Once seminars are completed, delegates from Western Australia may apply to The Law Society of Western Australia for family law specialist accreditation points. Each application is subject to approval by the Accreditation Committee on a case by case basis and approval is not guaranteed. Your request for points form and attached materials can be emailed to accreditation@lawsocietywa.asn.au
Chair: Michelle Hirschhorn, Barrister, 5 Selborne; Leading Tax Barrister, Doyle’s Guide 2019
2.00pm to 3.00pm: Duties Issues and Land Tax
- 2020 NSW Budget changes
- Recent changes to surcharge duty and land tax for discretionary trusts: deemed foreign trustees
- Recurring traps for property developments: getting the apparent purchaser and partition concessions right
- Converting company title to strata title: the good, the bad and the ugly
- Options: understanding the duty pitfalls
- Deceased estates: recent duty developments
- Land tax: COVID-19 measures
Presented by Andrew Rider, Barrister, Level 22 Chambers; Leading Tax Barrister, Doyle’s Guide 2019
3.00pm to 4.00pm: Taking Advantage of CGT and Main Residence Exemption: Maximising the Opportunity
- Clarifying the general concepts of the CGT main residence exemption
- Key considerations in relation to subdivision, demolition and rebuilding property
- Practical tips in the event of divorce or separation
- Consequences of producing income from property
- Opportunities and challenges regarding deceased estates
Presented by Greg Vale, Solicitor Director, Vale Legal; Accredited Specialist in Business and Personal Tax; Chartered Tax Adviser
4.00pm to 5.00pm: Vacant Land Provisions
- Overview of the recent changes
- Identifying clients impacted by the new rules
- Key issues surrounding what constitutes a substantial and permanent structure
- Exceptions to the rules with a focus on primary producers and exceptional circumstances
- Hidden traps and areas for concern
- Practical examples
Presented by Tracey Dunn, Associate Director – Tax Services, RSM Australia Pty Ltd
Presenters
Michelle Hirschhorn
Michelle has over 20 years’ experience in taxation law and practised at KPMG before coming to the Bar. She has significant experience in both Federal and State taxation law and represents clients (both the Commissioner and taxpayers) in the High Court, Federal Court, Administrative Appeals Tribunal and the Supreme Court of NSW. She also assists in all forms of alternative dispute resolution. Michelle is known for her wide technical experience in taxation law and diligent approach to preparation of evidence and submissions. Michelle has served as a judicial member of the Administrative Decisions Tribunal (now NCAT), also sitting on the Appeal Panel of the Tribunal in revenue matters.
Andrew Rider
Andrew is a leading Australian tax barrister specialising in land tax, payroll tax and stamp duty litigation and dispute resolution. Andrew also advises on Australia-wide stamp duties, land tax and payroll tax. Prior to coming to the Bar, Andrew was a solicitor and Associate to Justice Michael Kirby. Andrew edits the leading stamp duty publication "Australian Stamp Duties Law" and authors the national stamp duty section of the leading online service "Practical Guidance - Property Law". Andrew is a Chartered Tax Adviser and examiner with The Tax Institute and member of The Tax Institute/Office of State Revenue Liaison Committee and Dispute Resolution Technical Committee.
Tracey Dunn
Tracey is an associate director in the Tax Services division of RSM in Perth. Tracey has a Bachelor of Business (Accounting), a Graduate Certificate in Commercial Law and is currently studying a Bachelor of Laws. Tracey’s expertise lies in providing simples and complex tax advice to private group, high net worth and high net wealth clients. She has significant experience in advising on the taxation implications surrounding fringe benefits, Division 7A, and trusts.
Greg Vale
Greg is an accredited specialist in Business and Personal Tax as accredited by the Specialist Accreditation Board of the Law Society of New South Wales. Greg provides advice to clients, particularly professional firms and their clients, in respect of: business restructuring, federal taxes (including income tax, capital gains tax and goods and , services tax), state taxes (including stamp duties, pay roll tax and land tax), tax disputes including Project Wickenby matters, superannuation, asset protection planning, estate planning; and Corporations Act matters