Trusts Summit
Clients are now seeking more complex advice on trusts, from overseas beneficiaries to streaming capital gains to tax nightmares, and you need to design a much smarter strategy to meet their needs. You should be constantly reviewing your client’s existing trust structure to determine whether it still fulfils their demands, or whether changing circumstances or tax legislation has created a better structuring option. Walk away with a comprehensive guide to solve all these problems after this full day Summit
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Description
Chair: Arthur Athanasiou, Partner, Thomson Geer; Accredited Specialist in Tax Law
9.00am to 9.30am: KEYNOTE ADDRESS: LATEST Updates from the Board of Taxation
Dr Mark Pizzacalla will provide a high level summary of the Board of Taxation’s work program for the 2020 calendar year; as well as providing commentary on the challenges facing Australia’s tax landscape.
Presented by Dr Mark Pizzacalla, Partner, BDO; Member, Board of Taxation
TRUST DISTRIBUTIONS AND STREAMING
9.30am to 10.20am: Streaming Trust Capital Gains and Franked Distributions: A Practical Checklist
Gain a practical overview of the requirements that must be satisfied to effectively stream capital gains and franked distributions to targeted beneficiaries, including through interposed trusts, taking into account current legal developments.
Presented by Dianne Sisak-Penjalov, Senior Manager, EY Law; Chartered Tax Adviser
10.20am to 10.35am Morning Tea
10.35am to 11.35am: Trusts, Families & Death: Unforeseen Possible Tax Nightmares
- Cash payments during the year but beneficiary dies before 30 June - what happens?
- Can a discretionary trust distribute to a deceased estate? Yes, no & Maybe!
- Family trust elections (FTEs) are treated cautiously, but what are the dangers of making an interposed entity election (IEE)?
- Exploring these issues using real life client cases
Presented by Clifford Hughes, Principal, Clifford Hughes & Associates; Accredited Specialist in Taxation and Business Law; Chartered Tax Adviser
RESIDENT V NON-RESIDENT
11.35am to 12.35pm: Taxation of Foreign Discretionary Trusts: What to Watch out for
Take away key tips and traps regarding the taxation of foreign discretionary trusts, and work through:
- The transferor trusts provisions: When should the trust be treated as a transferor trust? And are there any exemptions?
- Section 99B: dealing with the receipt of trust income not previously subject to tax and lessons you can learn
- Application of TD 2017/23 and TD 2017/24: how to treat the capital gains that flow through foreign trusts
Presented by Jonathan Ortner, Partner and Kaitlin Lowdon, Senior Associate, Arnold Bloch Leibler
12.35pm to 1.20pm Networking Lunch
1.20pm to 2.15pm: Handle with Care: Practical Tips for Tax Planning with Foreign Beneficiaries
The landscape for distributing trust income to foreign beneficiaries with little or no tax has changed dramatically in the last 12 months. So too has the prevalence of Australian family members relocating overseas. George Psarrakos will walk you through the essential practical tips for managing the tax traps and opportunities, including:
- What's on the ATO's radar
- What’s the trustee’s exposure
- Preparing resolutions and streaming income
- Dealing with capital gains
- Traps in the home jurisdiction
Presented by George Psarrakos, Director, Mutual Trust; Chartered Tax Adviser
ASSET PROTECTION AND BUSINESS CONTROL
2.15pm to 3.10pm: Tax Threats to Trust Structures: Dealing with Section 100A Reimbursement Agreements and Current Div. 7A Development
- Reimbursement agreements
- Current ATO position and compliance activity
- What elements are required before Section 100A may be triggered?
- What does ‘Ordinary family or commercial dealings’ mean?
- What are the tax consequences of Section 100A applying?
- How is future tax planning impacted?
- Division 7A:
- Current legislative developments
- Current ATO positions and guidance
- How are pre December 1997 loans and pre December 2009 UPEs to be managed moving forward?
- Are Div. 7A complying 25 year secured loan agreements still relevant?
- What planning is required?
Presented by Michael Gastevich, Partner, Deloitte Private
3.10pm to 3.25pm Afternoon Tea
3.25pm to 4.20pm: IMPORTANT ADVICE FROM A FAMILY LAW EXPERT: Relationship Breakdown: Taking Advantage of Trusts to Deliver Huge Tax Saving
- Using child maintenance trusts to optimise your client’s tax position
- How child maintenance trusts can be part of a wealth succession strategy
- Key elements essential for an effective child maintenance trust arrangement and as importantly, what arrangements will not qualify
- Securing child maintenance trust advantages in the event of relationship breakdown as part of a financial agreement (Pre-Nup)
Presented by Rose Lockie, Partner, Gadens; Leading Family & Divorce Lawyer, Doyle’s Guide 2020
4.20pm to 5.15pm: Passing Control of a Discretionary Trust to the Next Generation as a Business Succession Strategy
- Tips and traps concerning successor appointors
- Protecting surviving spouses and other at-risk beneficiaries
- Problems with deeds: provisions to consider
- Key issues with constitutions that you need to consider
- Splitting and cloning trusts
- Boards shadow boards and externals
- Lessons from Mercanti that benefit you and your clients
- Converting non-estate to estate assets
Presented by Paul Hockridge, Partner, Tax, Mutual Trust
Venue
RACV City Club
Level 2, 501 Bourke St
Melbourne 3000
VIC
Australia
Parking Information
Parking is not included in your registration. Here are some options below. RACV City Club Car Park.
Directions
Accreditation
Attend full day and earn 7 CPD units
FASEA CPD Allocation: 7 hours 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.