Tax Summit 2020: Working Collaboratively with the ATO
Don’t miss this unique opportunity to engage with the ATO and understand how to work collaboratively with their new Private Wealth programs, COVID-19 compliance activities, tax governance and transparency and how to work together effectively on inquiries, audits, and tax disputes. Plus, get ahead on FBT planning for employee expenses and benefits, restructuring issues and what not to do if you want to avoid being on the TBP watchlist. If you only attend one event this year, ensure this is it.
Description
Attend and earn 7 CPD hours
FASEA CPD Categories
Estimated 7 CPD hours in Technical Competence
Chair: Chris Kinsella, Partner, MinterEllison; Accredited Specialist in Dispute Resolution
8.45am to 8.50am: Opening Comments by the Chair
8.50am to 9.10am: KEYNOTE ADDRESS: The Effect of COVID-19 on Community Expectations (LIVE STREAM)
Presented by Jeremy Hirschhorn, Second Commissioner, Australian Taxation Office
9.10am to 10.25am: PANEL + Q&A WITH THE ATO: Private Wealth: New ATO Programs
- Expansion of Justified Trust program to Top 500 Private Groups
- New program for next 5,000 Private Groups
- New program for Medium and Emerging Private Groups
- Wealth extraction
Presented by Tim Dyce, Deputy Commissioner and Jade Hawkins, Assistant Commissioner, Engagement & Assurance, Private Wealth, Australian Taxation Office
Panel Commentary by:
Marcia Barker, Partner, Grant Thornton
Phil McNaughton, Director, UBT Accountants
10.25am to 10.45am: Morning Tea
10.45am to 12.00pm: PANEL + Q&A: ENGAGE WITH YOUR PEERS: Tax Governance and Transparency: Why It Matters For All Corporate Taxpayers
- Risk appetites
- Wilful blindness
- Importance of systems and processes
- Best practice tax governance; how to get there, especially where resources are scarce
Presentations and panel discussion by:
Michael Gastevich, Partner, Tax & Legal, Deloitte Private (LIVE STREAM)
Sam Lo Ricco, Partner, Nuwaru
Tony Katsigarakis, Partner, Nuwaru
12.00pm to 12.45pm: Managing ATO Engagement: Inquiries, Audits and Tax Disputes
- Taxpayer onus of proof
- Importance of documentation and evidence
- ATO requests for information and formal powers
- Accountants concession and legal professional privilege
Presented by Rimma Miller, Partner, MinterEllison
12.45pm to 1.30pm: Lunch
1.30pm to 2.30pm: Pro-active Planning for Employee Expenses and Benefits (LIVE STREAM)
- FBT from both the employer and employee perspectives
- What guidance is the ATO issuing?
- Company cars
- Car parking
- Meals and entertainment, including home delivery/takeaways
- Living away from home
- Safe harbours
- Federal Budget announcements:
- Reskilling
- Extensions of exemptions for small business
- Changes in relation to recording
- Tips and traps for your FBT preparation
- Tax effective strategies going forward
Presented by Elizabeth Lucas, Partner & Head of National Specialist Tax Remuneration Taxes, Grant Thornton
2.30pm to 3.30pm: ATO COVID-19 Compliance Activities
- Update on the latest ATO COVID-19 concessions
- Emerging issues: substantiation requirements in the COVID Support Program
- JobKeeper 1.0 and 2.0
- Cashflow boost
- Time to pay arrangements
- Superannuation
- Compliance: managing targeted activities
- What does the future look like?
Presented by Tim Lyford, Director - Tax, Bentleys
3.30pm to 3.50pm: Afternoon Tea
3.50pm to 4.45pm: PANEL + Q&A: Restructuring: Practical Issues in 2020
- Large business
- Medium business
- Small business
Presentations and panel discussion by:
Vivian Chang, Partner, Practice Head - Tax, Ashurst
Neil Billyard, Partner, National Tax Practice Leader, BDO
Stuart Le Cornu, Partner, Fordham Group
4.45pm to 5.20pm: Tax Practitioners Board: Current Focus
- Code of Conduct
- Compliance focus
- New developments
Presented by Michael O’Neill, Secretary and CEO, Tax Practitioners Board
5.20pm to 5.30pm: Closing Comments by the Chair
Learning Objectives:
- Comprehend the ATO’s messaging of tax governance and transparency
- Build a tax governance framework
- Engage with the ATO on their new Private Wealth programs
- Discover best practice methods to engage with ATO on tax disputes
- Learn where the ATO are focusing their attention on the SME sector
- Proactively plan for FBT and employee expenses and benefits
- Understand ATO COVID-19 compliance activities
- Take the tour of practical issues in restructuring
- Hear from the Tax Practitioners Board about their compliance focus
Presenters
Chris Kinsella
Chris has over 30 years' experience consulting to leading Australian corporates and financial institutions in relation to Australian income tax matters. Chris commenced his career providing front end tax advice and then transitioned to a focus on tax audits and disputes. He has advised numerous clients on their tax reviews and audits and has represented the Commissioner of Taxation in some important tax disputes. Recent leading tax cases that Chris has been involved with include Resource Capital Fund IV & V v FCT (a case concerning double tax treaty interpretation and valuation issues) and Chevron Australia Holdings Pty Ltd v FCT (a case concerning transfer pricing and intra-group cross border loans).
Jeremy Hirschhorn
Jeremy Hirschhorn was formally appointed Second Commissioner in April 2020, having acted in the role since December 2018. He has overall responsibility for the ATO’s Client Engagement Group, which fosters willing participation in Australia’s tax and super systems through well-designed client experiences. Jeremy has more than 25 years' experience across the public and private sector in managing complex tax matters. As Deputy Commissioner of Public Groups & International from April 2015, Jeremy was responsible for ensuring that the largest Australian and multinational companies were meeting their corporate tax obligations, and providing the Australian community with confidence that these large companies were being held to account.
Jeremy also worked as Chief Tax Counsel, with responsibility for the provision of the ATO’s legal advice in relation to interpretation of the tax and super laws, when he joined the ATO in August 2014.
Prior to joining the ATO, Jeremy was a senior partner in KPMG’s tax practice. Jeremy holds a Bachelor of Commerce and Bachelor of Laws from the University of NSW. He is a Chartered Tax Adviser and Chartered Accountant.
Tim Dyce
Tim Dyce is the Deputy Commissioner for Private Wealth. Tim was appointed as a Deputy Commissioner in 2006 following a long and established career in the ATO. Having held senior leadership roles in a number of business lines including Income Tax, Aggressive Tax Planning and Indirect Taxes (GST and Excise) Tim has extensive experience in taxation administration. Drawing on this experience Tim is an active and influential contributor to various internal and external committees and forums that shape the Client Experience for Not for Profit entities, Excise entities and Private Groups. Ultimately, Tim has national responsibility for the willing participation and voluntary compliance of private groups and high wealth individuals in Australia. To achieve this outcome he is focused on implementing contemporary client engagement strategies, which seek to provide tailored, real time services.
Jade Hawkins
Jade Hawkins is an Assistant Commissioner in the Private Wealth division of the ATO where her focus is on client engagement within the Private Groups and High Wealth Individuals market. This involves working with clients to address tax risks at the earliest opportunity and ensuring the provision of technically sound, practical and consistent advice. The role seeks to ensure that Australia’s wealthiest individuals and private groups are paying the correct amount of tax. Jade also has carriage nationally of the Tax Avoidance Taskforce – Trusts, whose focus is on end to end strategies to address the egregious use of trusts. Jade joined the ATO in 2000 whilst completing her law degree and has experience in private group structures, dispute resolution, international tax, interpretative advice and guidance, as well as indirect taxes.
Marcia Barker
Marcia has over 11 years of accounting, taxation, superannuation and business advisory experience, focusing on family businesses and high net worth individuals. This includes taxation planning, business restructuring and succession and transition planning for business exit strategies. Marcia builds strong, trusted relationships which lay a foundation for providing holistic and personalised advice. Marcia works across a number of industry sectors with an emphasis on commercial and residential builders and is a core member of the firm’s real estate and construction industry group. She has vast knowledge in the areas of small business concessions and taxation of trusts
Marcia is a Member of the Institute of Chartered Accountant Australia New Zealand (CA) and the Tax Institute of Australia (CTA).
Phil McNaughton
Phil has been a tax practitioner since 1980 and have M.Tax (UNSW), Advising SME’s including Private Wealth Clients. Since 2011 Phil has been a director at UBT Accountants which has offices in Sydney, Melbourne , Perth, Auckland and London.
Michael Gastevich
Michael is the National Leader of Private Advisory, a member of the Deloitte Tax & Legal National Executive, and an occasional Professional Advisor to the ATO’s Private Groups Stewardship Executive. Michael has over 25 years’ experience and during this time Michael has worked with the Perth and Melbourne offices of Deloitte. Michael has had significant experience in dealing with all aspects relating to taxation, accounting and compliance for large private enterprises, private family groups, and businesses and families seeking to invest into Australia.
Sam Lo Ricco
Sam has over 25 years of corporate and international tax experience in both professional and commercial roles. This included 15 years with Deloitte based in both Australia and in Asia and over 10 years as the Global Head of Tax for an ASX 100 company in the industrial sector. By combining his technical and analytical skills with excellent commercial judgement, Sam has successfully executed complex, cross border restructures, financing transactions and M&A transactions. Ensuring effective tax governance was key to all these transactions. In the past year, Sam has returned to professional services where his focus has transitioned from working with large multinational enterprises to private groups, high wealth investors and technology start-ups.
Tony Katsigarakis
Tony Katsigarakis is a highly experienced & passionate leader with over 25 years’ experience helping organisations navigate the maze of ever-expanding regulatory and in house reporting requirements with diminishing resources whilst facing one of the most active and sophisticated regulators in the world.
Tony is a recognized thought leader and utilises his unique blend of tax, law, accounting, technology, risk management and process improvement knowledge together with his extensive experience in designing and implementing automated solutions for tax and finance teams to foster positive change and provide leadership, guidance and insights on automation, analytics, process improvement and risk management to meet regulatory and in house compliance and reporting obligations.
Tony was formerly the Director of Sales & Consulting, Enterprise Software APAC for Wolters Kluwer, Client Services Director at Thomson Reuters; Sales and Marketing Director, Client Services Director and transitional CEO of Allume Technology Partners. His career has also included roles with BNP Paribas and over 15 years at KPMG as both Tax Consultant and head of Tax Management Technology.
Tony holds a Bachelor of Economics and Bachelor of Law degree from the University of Sydney and was admitted as an Attorney, Solicitor and Proctor of the Supreme Court of NSW.
Rimma Miller
Rimma has 18 years of experience in resolving taxation disputes, both at early stages of audit and reviews all the way through to litigation. Rimma is experienced advisor and tax litigator. She conducts tax and tax-related litigation, both at federal and state levels. Rimma also has experience in judicial review, administrative law matters, debt litigation and insolvency matters. Rimma's tax controversy practice is founded on providing objective advice and risk assessment at all stages of tax controversy, and taking a strategic, balanced approach to taxation matters whether she is representing public or private sector clients or the ATO. Rimma is committed to minimising tax disputes for her clients by providing preventive tax risk management and governance solutions. She also works with clients to establish efficient and cost-effective ways to resolve or manage ATO disputes.
Elizabeth Lucas
Elizabeth has extensive experience in providing fringe benefits tax and salary packaging advice to not-for-profit bodies, corporate clients and Government organisations. She specialises in the various aspects of remuneration planning and has experience in superannuation guarantee and other employment taxes, as well as GST. In particular, Elizabeth’s areas of expertise are salary packaging advice and implementation; consulting advice regarding FBT technical issues, systems and compliance procedures and uperannuation guarantee obligations. Elizabeth is a speaker at various professional body functions and is a regular media commentator. She chaired the Tax Institute’s FBT Subcommittee and served as a member of the FBT Subcommittee of the ATO’s National Tax Liaison Group for many years. Elizabeth was also a member of the Not-for-profit Sector Tax Concession
Working Group reporting to the Federal Government and sits on a number of ATO consultations.
Tim Lyford
Tim is a Chartered Accountant with over 25 years of local and international business tax experience in Australia and the UK.
Tim has extensive experience acting for privately owned businesses, working with the owners and management to develop tax effective business structures, as well as helping them understand tax risks in reporting and interaction with the tax authorities.
He brings a wide range of experience for privately owned businesses including in the financial services, technology and property sectors, as well as offshore structures for family trusts and cross border tax and residence issues.
Tim’s expertise has been built through experience in a Top 10 accounting and financial services business in London and ‘big 4’ and top 12 tax team in Sydney.
Vivian Chang
Vivian Chang, is a Partner at Ashurst, based in Sydney and practice head of the Ashurst tax practice. Vivian has over 20 years' experience advising on Australian and international tax aspects of corporate and financial services transactions such as mergers and acquisitions, private investment and restructures. Vivian works with various Australian and multinational corporates as well as funds and institutional investors across a broad range of industries including financial services, property, energy and resources, industrials, consumer and technology.
Neil Billyard
Neil is Partner in Charge of the Corporate & International Tax Group based in the Sydney office. He has over 25 years' experience advising clients on a range of domestic and international taxation issues.
In the last 15 years, Neil has focussed on multi-jurisdictional cross-border acquisitions, divestments, financing and other restructuring activities, being involved with a number of large (domestic and foreign) listed corporate groups.
Neil is a sought after speaker and regular presenter of technical papers for the Taxation Institute of Australia and Institute of Chartered Accountants.
Stuart Le Cornu
Having worked in tax and accounting since 1997, Stuart Le Cornu has a wealth of experience with helping business owners to achieve their financial and business goals, including acquisitions and sales transactions. He also assists companies to meet their objectives with strategic planning initiatives, financial planning and taxation planning, with a keen focus on international tax. Being one of Fordham Group’s Tax Advisory specialists, he is of course also an expert in assisting with ATO audits and risk reviews! In fact, Stuart is so good at what he does, that he presents on taxation of trusts, Division 7A and small business Capital Gains Tax matters. Stuart's approach to tax planning commences from day one. He takes the time to thoroughly review existing structures, interrelationships between entities, location of assets, liabilities and IP, history capital gains cost bases, loan accounts, previous tax strategies and future plans. By June in every year, there are no surprises. Just a simple reassurance that everything remains on track.
Michael O’Neill
Michael O’Neill commenced in the role of Secretary/Chief Executive Officer of the Tax Practitioners Board in August 2018. A taxation lawyer with extensive public service experience, Michael joined the TPB from the Australian Taxation Office where he was Chief Risk Officer, following senior leadership positions in investigations, advice, litigation and law reform. He also has experience in private practice. Michael holds a Master of Laws from the University of Sydney.
Venue
The Grace Hotel
77 York St
Sydney 2000
NSW
Australia