Tax Intensive for SME Advisers
SMEs simply can’t afford to utilise ineffective tax strategies or fall into tax traps, and quite frankly, neither can you. Your clients will expect you to provide the latest tax strategies to help them strengthen and grow their business. Gain timely insights from those working closely with SMEs every single day as they share their tips on the most critical issues impacting SMEs, including the ramifications of the 2018/19 Federal budget.
Description
Attend full day and earn 7 CPD units
Session 1
Session 1: Tax Guide for SME Advisers
9.00pmThe Legal Insights: How Does the 2018/19 Federal Budget Affect SMEs? Christine will provide an overview of the 2018/19 Federal Budget, focusing on the main aspects that are likely to most impact SMEs and how SMEs can best prepare themselves in response to the budget. Presented by Christine Palmer, Senior Lawyer, Clayton Utz |
10.00am Tax Risk Management for SMEs: Part IVA in 2018
Explore the anti-avoidance provisions and how they apply in common SME situations.
- What is the distinction between tax evasion and tax avoidance and what are the practical effects?
- How does Part IVA operate in 2018? What is the ATO looking at?
- When will Part IVA apply to common SME transactions (including family business transactions, reorganisations and restructures, dividend stripping, dividend access shares, rollover relief and superannuation contribution strategies)?
- How should advisers manage Part IVA risks?
Presented by Peter Bobbin, Managing Principal, Argyle Lawyers; Chair of STEP NSW; 2015 Tax Advisor of the Year (SME), The Tax Institute
11.00am Networking and Refreshment Break
11.15am Being Tax Ready with Non-Resident Beneficiaries of Family Trusts
In recent years, Australian governments, both at the Federal and state level, have introduced reforms giving rise to new and interesting tax implications for trustees where the trust has non-resident beneficiaries. Using a mix of case studies and technical know-how, work through the income tax, stamp duty and land tax issues for the trustees and non-resident beneficiaries of family trusts. A particular emphasis will be placed on the latest developments in this space, including:
- The foreign purchaser and land tax surcharge as it relates to trustees of family trusts with non-resident beneficiaries
- The ATO’s renewed focus on capital gains streamed to a non-resident beneficiary of a resident non-fixed trust
- Examples of how our anti-avoidance provisions, including Part IVA and section 100A, could apply to trusts with non-resident beneficiaries
Presented by Jonathan Ortner and Kaitilin Lowdon, Senior Associate - Taxation, Arnold Bloch Leibler
12.15pm Payroll Tax: Grouping Issues Across Different States
The payroll tax grouping provisions are complex can vary between the different states and can add greatly to your clients’ payroll tax liabilities. Very often, businesses are unaware of the triggers and, therefore, when the grouping provisions may apply. This may lead to over-claiming of the payroll tax threshold and in many cases, failing to register for payroll tax obligations in particular states, remembering that the different State Revenue Offices are increasingly sharing more and more data, and the chances of being reviewed are very high.
There is some discretion available to the Commissioner to exclude an employer from a group, and it is important for advisors to understand the key factors that will contribute to a successful grouping exclusion application. Using case studies based on real life experience, this session will explore:
- The payroll tax grouping provisions, and their impact on the client’s total payroll tax liability
- Practical insights in relation to application of these provisions in the various jurisdictions
- The circumstances in which the exclusion discretion may be considered
- The impact of the numerous court and tribunal decisions that have tested these provisions
Presented by Peter Bembrick, Tax Partner and Helena Yuan, Tax Manager, HLB Mann Judd Sydney
Session 2
Session 2: The Lifeblood of Small Business: Cash Flow
2.00pm New Franking Credit Strategies after Company Tax Rate Cuts
- Company tax rate cuts for 2015-16, 2016-17, 2017-18 and beyond
- The effect of changing from small business entity thresholds to base rate entity passive income threshold
- Problems with the definition of ‘base rate passive income’
- The effect of the changing aggregate turnover thresholds each year tax
- How all these changes affect tax payments and franking credits
- Different rules for each year 2015-16, 2016-17 and 2017-18
- Different rules for tax payments and franking credits in each year
- Low rate companies receiving dividends franked at a higher rate
- How to avoid trapping franking credits in the company under the new rules
- How to utilise trapped franking credits under the new rules
- How the company tax cut can result in a tax increase when paying out dividends from profits taxed at the higher tax rate
Presented by Jober Salar, Tax Manager, BDO
3.00pm Utilising Your Business Profit: Options and Tax Implications
- Different business structures and reinvestment of profits
- Safeguarding your profits
- Division 7A
- Effect on Small Business CGT concessions
- Implications of different share classes
- Change in corporate tax rate
Presented by Gino Malacco, Partner, Hall Chadwick
4.00pm Networking and Refreshment Break
LEGAL AND ACCOUNTING PERSPECTIVES |
4.15pm Dealing with ATO Debt
Presented by Chris Ardagna, Partner, Brown Wright Stein Lawyers
Presented by Neil Cussen, Partner, Deloitte |
5.15pm Closing Comments by the Chair