Small Business Structuring and Restructuring Conference
Issues covered include: small business structuring, prenups, split-ups, discretionary trusts, trust structures, small business CGT concessions, GST, duty, restructuring a business
Description
If you’re advising a client who is structuring a business at the very initial stage, there are immediate red flags you need to raise as well as the obvious tax issues. Potential risks at the event of a relationship breakdown, estate planning issues, insurance and asset protection, just to name a few. Similarly, small business restructuring brings its own set of challenges. Obtain a practical guide to small business CGT concessions and rollovers, GST and other duties that practitioners often miss.
Chair: Dianne Sisak-Penjalov, Senior Manager, EY Law; Chartered Tax Adviser
CUTTING EDGE STRUCTURING STRATEGIES TO MAXIMISE TAX BENEFITS
9.00am to 10.30am: PRACTICAL WORKSHOP: How to Avoid the Risks & Traps of Small Business Structuring
- Key issues to consider at the initial client’s meeting: a step by step checklist
- Expertly tailoring a business structure to maximise asset protection
- Top level structuring strategies in key business industries, including professional services
- Case study
Presented by Rob Jeremiah, Principal, Sladen Legal; Accredited Specialist in Business Law and Tax Law and Sam Campbell, Senior Associate, Sladen Legal
10.30am to 10.45am: Morning Tea
10.45am to 11.40am: Prenups, Split-ups and Small Business: Challenges Faced by Business Owners and their Advisors
Belinda Spong will provide insight into how trusted advisors can identify issues and assist clients manage relationship breakdown in an informed, cost effective way by answering the following questions:
- How do the Australian Family Law Courts consider business structures such as trusts, companies and partnerships?
- How are related party loan accounts treated?
- In an increasingly global business landscape, how are assets offshore considered?
- What to do when your SMSF clients get involved in family law disputes?
- Duties of disclosure and why they are important to your clients: what obligations do parties have to disclose financial information to one another, personally and business related?
- Businesses and family law litigation: what if your client is subpoenaed? What happens if a company or trust is joined to family law litigation? Can orders be made requiring third party entities to give effect to a settlement?
- Documenting a settlement: is it a final deal to your client?
- Is prevention better than cure? Should parties in small business, or contemplating small business ventures give consideration to binding financial agreements (‘prenups’)?
- What happens when a family law relationship breaks down? Do your clients have to litigate? Can they resolve their matter out of court?
Presented by Belinda Spong, Principal, MST Law; Recommended Family & Divorce Lawyer, Doyle’s Guide 2019; Best Lawyers 2020, Family Law
11.40am to 12.35pm: Discretionary Trusts and Business Structures: What can and Will go Wrong
- What is a discretionary trust, who are the controllers and what is the nature of a beneficiary’s interest in the trust?
- Passing control of discretionary trusts in the estate and succession plan: trust law and tax issues you need to know
- Dealing with loan account balances in the estate and succession plan
- Trust splitting and the ATO’s views: avoiding the common traps
- Options and strategies to minimise the risk of disputes in the second generation: the risk of one child being outvoted
- Case study
Presented by Nathan Yii¸ Principal Lawyer, Nathan Yii Lawyers; SMSF Specialist Advisor; Chartered Tax Advisor; Recommended Wills, Estates & Succession Planning Lawyer, Doyle’s Guide 2018
12.35pm to 1.20pm: Networking Lunch
COMPREHENSIVE GUIDE TO RESTRUCTURING FOR SMALL BUSINESS CLIENTS
1.20pm to 2.50pm: RESTRUCTURING PRACTICUM: Small Business Restructuring in Practice: Unlocking the Latest Strategies
- When can/can’t you use the small business restructure rollover?
- What alternatives are available when restructuring is considered?
- Tips and traps of using rollovers
- Practical worked example
Presented by Chris Wookey, Chartered Accountant and Chartered Tax Adviser
2.50pm to 3.05pm Afternoon Tea
3.05pm to 3.55pm: Trust Structures: Interaction with Small Business CGT Concessions
- Trust distributions and minutes: background
- Trusts and Division 152: a refresher on important terms and concepts relevant to trusts
- Significant individual
- CGT concession stakeholder
- Active assets
- The importance of getting the trust administration correct to satisfy the requirements for the Division 152 CGT concessions
Presented by Paul Goldin, Principal, Vectigal Legal; Chartered Accountants and Chartered Tax Adviser
3.55pm to 4.45pm: GST, Duty and Restructuring a Business: Understanding the Interplay & Perfecting Your Strategies
- Key GST issues including:
- Related party and intra-group transactions, in specie consideration and going concern exemption traps
- Input taxed supplies of shares/units
- Important duty considerations including:
- Transfer duty, landholder duty, trust/partnership acquisition duty, and the ‘traps’ that catch taxpayers and their advisors
- Corporate reconstruction relief: Australia-wide rules, recent changes and practical considerations
- Alternative approaches and exemptions
Presented by Rachel O’Donnell, Special Counsel, Hall & Wilcox
Accreditation
Attend and earn 6.5 CPD units
FASEA CPD Categories
6.5 CPD units in Technical Competence
All our conferences are able to count towards your CPD hours in accordance with the regulations of any industry association including CA ANZ, CPA and more. Click here to view your organisations' rules.
Venue
Rendezvous Hotel Melbourne
Level 1, 328 Flinders St
Melbourne 3000
VIC
Australia