Trusts Masterclass: Asset Protection and Taxation of Trusts
Are you solving today’s problems with yesterday’s toolkit? This in-depth guide to trusts and deeds will help you elevate your skills. Delve into modern asset protection strategies. Consider the implications of the ATO’s anti-avoidance provisions and audit focus. Explore the practice and procedure of trust tax disputes in the AAT and the Federal Court of Australia. Examine leading cases from the High Court and work through the nuts and bolts of putting out flare-ups when trust and deed disputes arise. 223N36
Description
Attend and earn 4 CPD units in Substantive Law
This program is applicable to practitioners from all States & Territories
Chair: Chris Apostolakos, Partner, Diamond Conway Lawyers
9.00am to 10.00am Asset Protection: ‘Trust’ Before ‘Deeds’
- The nature of a beneficiaries’ interest
- A creditors ability to claim
- Creditors at large and the family law context
- The need to trust the trustee
- Disputes within the Trust officeholders
- The Court’s ability to step in
Presented by Michael Bennett, Barrister, 13 Wentworth Chambers; Best Lawyers 2022, Wealth Management/Succession Planning Practice
10.00am to 11.00am Trust Tax Avoidance and the ATO Response
- Background to the ATO's current focus on trust tax avoidance
- Relevant anti-avoidance provisions
- When can the Commissioner apply Section 100A and what is the consequence
- What is a Reimbursement Agreement
- The ordinary family or commercial dealing exception
- Current ATO Taskforce audit focus
Presented by Paul Glover, Counsel – Taxation, Ashurst; Best Lawyers 2022, Tax Law
11.00am to 11.15am Morning Tea
11.15am to 12.15pm Case Study: Tax Disputes and Trusts in the Administrative Appeals Tribunal (AAT)
- Practice and procedure of trust tax disputes in the AAT and the Federal Court of Australia
- Case study involving a trust in a tax dispute with the Australian Taxation Office in the Administrative Appeals Tribunal
Presented by Brett Young, Barrister, State Chambers
12.15pm to 1.15pm High Court Jurisprudence on Taxation of Trusts
- Examine the leading cases and the contribution of the High Court
- Trust resettlement: Commercial Nominees (2001)
- Section 100A sham: Raftland (2008)
- Income of the trust estate: Bamford (2010)
- Tax obligations of trustees: Australian Building Systems (2015)
- Trust orders of state Courts: Thomas (2018)
Presented by Michael Bersten, Barrister, NSW Bar
Presenters
Chris Apostolakos
Chris focuses on estate planning and estate litigation, involving contested wills and family provision claims. His clients include high net worth individuals, and clients with various and complex asset structures. In addition to guiding clients through difficult court proceedings, he also has extensive experience in mediation and settlement negotiations. Prior to joining Diamond Conway, Chris was a sole practitioner, and he has also held in-house legal roles for various organisations including the trustee of the largest superannuation fund in Australia, an investment fund manager and an aged care group. Chris brings a commercial and practical approach to his work, drawing on his twenty years' experience
Michael Bennett
Michael practices in the following areas: Tax planning (including Superannuation, Estate Planning and Structuring); Federal and State Tax litigation; Commercial litigation; Bankruptcy and Insolvency litigation. From 2006 to 2011, before coming to the Bar, Michael was a solicitor in two boutique SME tax and commercial practices. He was a Judges Associate before that. Michael lectures in tax law in the UNSW Masters of Laws Program. Michael was a Lieutenant in the Royal Australian Navy Reserves (Legal Officer). Michael frequently writes for the Tax Institute or other professional bodies and gives presentations for various bodies on the areas in which he practices.
Paul Glover
Paul is a corporate and international tax professional with almost 30 years' experience in providing Australian and international corporate taxation services, including 25 years within the Big 4. Paul specialises in advising on direct tax issues including the Australian tax implications arising in connection with international mergers and acquisitions and other cross-border transactions. He has advised clients across a broad range of industries, including utilities, media, property, financial services, professional services, mining, tourism and consumer products. He has also advised the NSW Government and the Australian Taxation Office.
Brett Young
Brett specialises in taxation law and commercial law. He commenced practising as a barrister in 2003 and has practised as a tax advisor since 1994. Brett's advises and represents taxpayers in all areas of taxation law, including income tax, stamp duty, GST, land tax and other Federal and State revenue laws. He appears in a variety of Federal Court, Administrative Appeals Tribunal, NSW Supreme Court matters. Brett acts for a broad range of taxpayers - including multinational corporations, small-to-medium businesses and high net worth individuals. Brett is a Fellow Chartered Accountant (FCA).
Michael Bersten
Michael Bersten has been in legal practice for 37 years and since 2018 as a Barrister. Michael specialises in tax and related corporate, commercial, trusts and financial crime matters. Michael’s current clients comprise mainly business and private wealth clients. Michael is also a sessional Lecturer in the UNSW Business School ATAX Masters Program. Michael is the NSW Deputy Chairman of the Law Council Tax Committee and a member of the Australian Bar Association tax committee. Michael has been regularly voted by clients as a Tax Controversy and Disputes leader in the International Tax Review Survey. Michael was a tax and legal partner from 2004 -2018 at PwC and before that a partner at Deloitte from 2001-2004. Michael founded their tax controversy and dispute resolution practices. Before that Michael Bersten was head of the ATO Tax Counsel Network and chaired the GAAR Panel amongst other senior roles. Michael was a Deputy Australian Government Solicitor (1996-1999) and national head of the tax and customs practices.
Venue
Cliftons - Spring Street
Level 3, 10 Spring Street
Sydney 2000
NSW
Australia
Parking Information
Parking not included in you registration. Here are some options below.
Secure Park 20 Bond Street - click here for rates
Wilson Park 1 O'Connell Street - click here for rates
Wilson Park 31 Bond Street - click here for rates
Directions
Nearby Public Transport:
Train Stations - Wynyard 400m OR Martin Place 500m
Bus Interchange - Clarence Street 450m
Ferry - Circular Quay 1.2km