Family Law: SMSFs, Loans and Tax
Gain a new understanding of how to identify and deal with SMSF, Tax and Trust issues that arise in Family Law financial or property settlements. Delve into critical issues when approaching SMSF splitting. Learn to identify short and long tail tax implications with Div7A, CGT, Trust and share dispositions. Plus, through practical examples, gain clarity on what options and actions your client might take prior to mediation, during negotiations, at settlement, and how to avoid traps in drafting orders. 232N11
Description
Attend and earn 3 CPD units in Substantive Law
This program is based on NSW legislation
*The seminar will be directly followed by a Networking Drinks Reception for the in-person delegates
Chair: Phillip Ridgway, Partner, Pearson Emerson; Accredited Specialist in Family Law; Family Law Rising Star, Doyle’s Guide 2022
2.00pm to 3.00pm SMSFs: Essential Knowledge for Family Lawyers
- Valuation and SMSF splits
- Why you need to be aware of third parties in the SMSF
- SIS obligations under Part 7A
- Designing the splitting order in a falling market
- Taxation non-compliance
- Death and super in a settlement
- How to exit from the SMSF
Presented by Stephen Bourke, Director, SuperSplitting; Accredited Specialist in Superannuation; Accredited Specialist, Self-Managed Superannuation Fund Association; author, Super Splitting for Family Lawyers, Certus Law
3.00pm to 4.00pm Dividing Up the Family Business, Company, and Other Entities: Understanding the Short and Long Tail Tax Implications with Div7A, CGT, Trust, and Share Dispositions
- How to identify a potential Div7A issue and other tax consequences
- The issues with using the relationship breakdown CGT rollover
- How to interpret tax advice from an accountant or tax adviser and applying the advice in practice
- Knowing the options and potential consequences
- Trusts:
- Removing an ex-spouse from a trust: tips and traps
- Divorce and its impact on the trust loss rules
- Alternatives to transferring the assets out of the trust or company
- Dealing with beneficiary loan accounts and removing related party loans
Presented by Dung Lam, Principal, West Garbutt; Chartered Tax Adviser; Accredited Specialist in Taxation Law
4.00pm to 4.15pm Afternoon Tea
4.15pm to 5.15pm Identifying Tax, SMSF and Trust Issues Through Real-life Hypotheticals
Join a panel of interdisciplinary experts, comprising a SMSF expert, financial adviser, accountant, and accredited family law specialist, to discuss how you identify, deal with, and resolve key tax, SMSF and trust issues in family law matters.
You’ll takeaway a key to understanding:
- What to consider during the initial interview and advice
- When to get the expert in?
- Why the balance sheet is crucial and what it can reveal
- Potential issues that can arise and options for your client to consider
- Actions to consider taking leading up to mediation, negotiations, final settlement, and orders
- What to do when the other side is in denial
- Drafting tips and traps
Panellists
Stephen Bourke, Director, SuperSplitting; Accredited Specialist in Superannuation; Accredited Specialist, Self-Managed Superannuation Fund Association; author, Super Splitting for Family Lawyers, Certus Law
Dung Lam, Principal, West Garbutt; Chartered Tax Adviser; Accredited Specialist in Taxation Law
Tricia Peters, Director, Melbourne Collaborative Alliance, and Director, PetersMcKeown Financial PLanners; Accredited Mediator, Collaborative Law Financial Planner and Alternative Dispute Resolution Practitioner
Phillip Ridgway, Partner, Pearson Emerson; Accredited Specialist in Family Law; Family Law Rising Star, Doyle’s Guide 2022
Presenters
Phillip Ridgway
Doyle's Guide has recognised Phillip as a Rising Star in family law in the Australian legal market for 2021. Having worked in specialist family law firms since 2011, Phillip understands the impact which underlying motivators often play in family law. Phillip has a particular interest in property settlements involving businesses and complex asset structures, and takes a holistic approach to assisting his clients by working with their accountants, financial advisors and commercial lawyers to achieve the best outcomes. Phillip often works with experts in other fields to assist his clients to achieve the best outcomes in these matters, including family therapists, social workers, psychologists and psychiatrists.
Stephen Bourke
Stephen Bourke is an accredited specialist with the Self-Managed Superannuation Fund Association (SMSFA). He is also an affiliate of the Taxation Institute of Australia and has now completed the Graduate Diploma in Applied Tax. He holds the degree of Bachelor of Arts (Public Administration) from the University of Canberra and received the prize for excellence on graduation awarded by the Australian Institute of Management. He also holds the degree of Bachelor of Laws from the Australian National University. Stephen Bourke is the Director in the legal practice, SuperSplitting, an internet-based superannuation law practice that specialises in superannuation law and family law. Stephen Bourke is author of the text “Super Splitting for Family Lawyers” published in February 2011 and co-author of “Super Splitting on Marriage Breakdown”.
Dung Lam
Dung Lam is a tax and superannuation lawyer with years of experience advising on a wide variety of taxes including income tax, capital gains tax, GST and state taxes such as payroll tax and land tax. Dung also assists taxpayers in obtaining rulings from and managing tax disputes with the Australian Taxation Office and state revenue authorities. Dung has extensive experience in advising on the taxation of trusts, superannuation issues concerning self managed superannuation funds and tax issues related to estate planning. Dung advises a broad range of clients ranging from small to medium enterprises, high net worth individuals, professional firms, accountants and their clients. Dung is a Chartered Tax Adviser, a full member of the Society of Trusts and Estates Practitioners and an accredited Taxation Law Specialist with the New South Wales Law Society.
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