Family Business Advisory Conference - Recorded in November 2019, NSW
Issues covered include: family business structuring, estate planning and succession, family law and relationship disputes, tax
Description
Find the answers to the family business dream: How to avoid family conflict but ensure business success. In one information packed day you will gain the best strategies to help your family business clients throughout the entire business lifecycle. From start-up and structuring to challenges such as business succession or relationship breakdown, to selling or exiting, bring yourself up to speed on the key strategies from the leading tax and family law experts.
Chair: Bernadeene Cangelosi, Director, Family Enterprise Advisory, Deloitte Private
9.00am to 9.45am: HOW TO AVOID COURT: Recent Case Update and the Implications for Your Family Business Clients
Bring yourself up to date with recent and important court decisions, examine their key takeaways and get up to date on hot topics, trends and recent developments so you’ll be prepared to advise your family business clients with the latest information and strategies.
Presented by Ishita Sethi, Barrister, Second Floor Selborne Chambers; Chartered Tax Adviser
PERFECTING YOUR RESTRUCTURING AND TAX EXIT STRATEGIES
9.45am to 10.40am: From Unsuitable to Ideal: A Guide to Fixing Family Business Structures
- Family businesses often grow or change over time, but their structures do not keep pace
- Prioritising between risk protection, family desires and commercial issues
- Why tax efficiency may not meet family needs?
- Dealing with expectations and sense of entitlement
Presented by Clifford Hughes, Principal, Clifford Hughes & Associates; Accredited Specialist in Taxation and Business Law; Chartered Tax Adviser
10.40am to 10.55am Morning Tea
10.55am to 11.50am: Your Preparation Guide and Tax Exit Strategies for Selling a Family Business
- Business sale or share sale: What’s the difference and how to choose?
- Selling a family business:
- Negotiation of the business sale agreement including form of consideration, allocation of the purchase price and reviewing the tax treatment of the assets comprising the business
- Determining the company’s tax position including determining the gain on sale (whether on capital or revenue account and whether pre or post-CGT gain including the possible application of Division 149), access to the CGT Small Business Concessions, availability of corporate losses, franking credits and GST treatment
- Distributing the profit including the declaration of a dividend, liquidation of the company, a share buy-back or capital return
- Post sale issues: retaining the gain made on sale in the company to re-invest or lend to family members or the family group
- Sale of shares:
- Method of sale
- Issues for the seller including availability of 50% CGT Discount, CGT event K6, CGT Small Business Relief Measures, prior year capital losses, non-resident shareholders
- Tax implications of paying a pre-sale and post-sale dividend
- Pre-sale restructuring
- Transaction step summary including worked example
Presented by Andy Milidoni, Partner, Johnson Winter & Slattery; Chartered Tax Adviser
HOW TO TURN A FAMILY BUSINESS INTO AN OVERPERFORMING JUGGERNAUT
11.50am to 12.45pm: What You Need to Advise Family Business Owners on Startup
You will gain 7 key areas you need to highlight your family business clients for their start up:
- Why governance in each family business is different
- The 3 circle model in relation to a family business
- The value of the family business story that most family business owners usually ignore
- The new lens for estate planning in the family business context
- Shareholders agreements: avoiding the common traps
- Buy-sell agreements: issues you need to go through with your clients at the beginning
- Taking advantage of R&D tax incentives for your client’s research and development activities
Presented by Kirsten Taylor-Martin, Partner, Grant Thornton; Accredited Family Business Advisor
12.45pm to 1.30pm Networking Lunch
1.30pm to 2.20pm How You can Assist in Impacting a Family Business Performance
- Clients in distress: interpreting red flags in the most effective way
- Managing tax issues in distressed scenarios
- Directors' duties when the business is in financial difficulty
- Options and strategies to assist your family business clients
Presented by Andrew Sallway, Partner, Business Restructuring, BDO
AVOIDING THE RISKS, DRAMAS AND PITFALLS OF RELATIONSHIP BREAKDOWNS AND BUSINESS SUCCESSION
2.20pm to 3.10pm: The Strategies and Information You Need to Deal with a Family Business & a Relationship Breakdown
- The approach the family law courts to the splitting of assets and treatment of income
- Valuation of assets: personal, companies and trusts
- What liabilities are taken into account: stamp duty, CGT and Division 7A loans
- The treatment of loans as liabilities
- Dealing with SMSFs and lessons you need to learn
- The pros and cons of pre-nuptial agreements for your family business clients
Presented by Rachel Slat, Director, Slat Family Lawyers; Accredited Specialist in Family Law; Recommended Leading Family and Divorce Lawyer, Doyle’s Guide 2019
3.10pm to 3.25pm Afternoon Tea
3.25pm to 4.15pm: Modern Business Succession Planning: Strategies for Today’s Clients
- The family dynamics and the relationships within the family
- Clarifying the asset ownership and asset control
- How to get succession under control: tips for trusted advisers
- Key pre-death and post-death strategies for your family business clients
- The inter-relationship with estate planning
Presented by Phillip McGowan, Director, de Groots Wills and Estate Lawyers; Accredited Specialist in Succession Law; Leading Wills, Estates and Succession Planning Lawyer, Doyle’s Guide 2019
Venue
Cliftons Sydney
Level 3, 10 Spring Street
Sydney 2000
NSW
Australia
Directions
Nearby Public Transport:
Train Stations - Wynyard 400m OR Martin Place 500m
Bus Interchange - Clarence Street 450m
Ferry - Circular Quay 1.2km
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
Accreditation
Attend and earn 6.5 CPD units
FASEA CPD Categories
6.5 CPD units in Technical Competence