Tax and Wealth Advisory: Migration, Foreign Investors & Opportunities
Issues covered include: immigration for business and investors, foreign investment, non-residents doing business, non-residents doing family business, owning a property, anti-money laundering, tax considerations and non-residents, estate planning, administration and sucession for migrations and foreign investors
Description
Tax and wealth advisory issues involving migrants and foreign investors are increasing in Australia every single year. Broaden your client base in this potentially lucrative area or refine your strategies for your current client base with this unique program covering critical topics that you won't find anywhere else. Gain all the knowledge, updates and strategies necessary to capitalise on the burgeoning migration and foreign investor sectors so that you can take your practice to the next level.
Attend and earn 7 CPD Points/Hours
This conference was recorded in NSW on 28 May 2019
Chair: Peter Charteris, Partner, Sparke Helmore Lawyers
LATEST TRENDS
9.00am to 9.50am: Immigration for Business and Investors: Facts, Trends & Future Developments You Must Know
Business professionals and investors are increasingly mobile and must navigate Australia's complex immigration laws and policies if they wish to conduct business and invest in Australia. In this session, global mobility and Australian migration law practitioners Belinda Wright and Jennifer Wilson will survey the international landscape concerning business and investment migration and provide an overview of the current law and policy framework in Australia so that you can provide the best advice possible for your clients.
Presented by Belinda Wright, Director and Jennifer Wilson, Senior Manager, People Services & Immigration, KPMG
9.50am to 10.40am: Foreign Investment in Australia: Existing Opportunities and Future Legislative Trends
- Brief overview of existing laws relating to foreign investment and Significant Investor Visa investors
- Current trends, where the law is heading, and the implications for you and your clients
Presented by Deborah Johns, Partner, Gilbert + Tobin
10.40am to 10.55am Morning Tea
PRACTICAL BUSINESS AND INVESTMENT STRATEGIES
10.55am to 11.50am: Non-Residents Doing Business in Australia: Key Tax Issues and the Practical Implications
Selling goods or providing services in Australia as a non-resident has myriad tax implications, including whether it is without a presence in Australia, through an Australian agent or via a permanent establishment. Gain practical insights in navigating through these complex rules.
- Permanent establishment issues and Australian sourced income for income tax purposes
- Taxable Australian property for CGT purposes
- Cross- border GST
- Employment tax requirements including superannuation and PAYG withholding with a particular focus on contractors
- Foreign resident withholding taxes
- Required registrations and reporting
Presented by Iain Spittal, Partner and Emmanuelle Roulet, Tax Manager, PKF
11.50am to 12.45pm: How can Non-Resident Family Members Invest in Family Businesses in Australia?
- Setting up a family business in Australia by non-resident investors: choosing the right structure
- Due diligence before making investments in Australia: identifying and evaluating risks before investing
- Options for non-residents to manage and monitor an Australian business
- Australian regulatory requirements and constraints on non-resident investors investing in Australian businesses
Presented by Shah Rusiti, Partner; Accredited Specialist in Business Law and Min Hur, Associate, Teece Hodgson & Ward
12.45pm to 1.30pm Networking Lunch
1.30pm to 2.25pm: Owning a Property in Australia: Working Through a Real Life Example
- Investing in Australian property: the benefits and drawbacks
- The importance of residency status for tax purposes
- Everything tax for non-residents: income tax rates, property costs, capital gains tax eligibility for exemptions and concessions and property development
- Issues foreign investors face by owning Australian property: the role of the Foreign Investment Review Board (FIRB), foreign investor purchase restrictions, vacancy tax and foreign citizen stamp duty
Presented by David Shaw, Founder and CEO, WSC Group
2.25pm to 3.20pm: Anti-Money Laundering for Professional Practitioners: Get it Right or Pay the Price
- The AML/CFT landscape
- Application of the AML/CFT regime to immigrants and foreign investors
- Understanding the relevant compliance issues and impacts
- Processes you must have in place: the why, what and how of AML/CFT requirements for professional practitioners
Presented by Irina Samoylova, Founder and Managing Director, NewEra Business Consulting; Head of Strategy, Business Development and Corporate Partnerships, Simple KYC; Executive Board Director, Programming, Australasian Chapter, Association of Certified Anti-Money Laundering Specialists
3.20pm to 3.35pm Afternoon Tea
CROSS-BORDER ESTATE PLANNING
3.35pm to 4.25pm: Tax Considerations when Your Client's Intended Beneficiaries Include Non-Residents: What Accountant Needs to Know
- CGT event K3: its impact on the deceased estate and foreign beneficiaries and its quirks in operation
- Cost base impacts on related to Australian tax resident beneficiaries and non-resident beneficiaries
- State surcharges and other Australian taxes targeted at foreign residents owning land which can impact on estate planning
- The Australian tax impact of appointing an Australian resident as your executor
- How gifting judiciously between foreign and Australian residents can prevent Australian tax eroding family wealth, and how a failure to seek appropriate tax advice in estate planning can create an Australian tax disaster
- Issues with double taxation where the Australian estate plan has foreign elements
Presented by Dung Lam, Team Leader - Tax, Argyle Lawyers; CTA
4.25pm to 5.15pm: Estate Planning, Administration and Succession for Migrants, Foreign Investors and Their Families: Key Takeaways for Accountants
- Central management and control: the pivot point for wealth management
- Lessons from the Bywaters case
- The risks of informal control
- Controlling management succession as well as ownership succession
- Choosing your tax home: a necessary part of being a multi jurisdiction family
- Choosing your representatives in each jurisdiction to which you are connected
- How permanent is your establishment in this country?
- Retrieving your investment: What if financier and investor are both offshore from Australia?
Presented by Michael Perkins, Head of Private Client Practice, Nexus Law Group
5.15pm Closing Comments by the Chair
Venue
Cliftons Sydney
Level 3, 10 Spring Street
Sydney 2000
NSW
Australia