5th Annual Trusts Essentials and Estate Planning Conference
Trusts and Estate Planning is becoming more complex with legislative amendments including changes to Div. 7A rules, 100A reimbursement agreements and small business CGT concessions. In addition, clients’ unexpected family circumstances and business needs are increasing in a complex social and business world. You will walk away from this updated with all proposed changes and the ability to provide your clients with practical tips and traps.
Description
Attend the full day and earn 6.5 CPD units
FASEA CPD Allocation: 6.5 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.
Session 1
Trusts Essentials
Chair: Daniel Pegdon, Senior Tax Manager, Moore Stephens; Chartered Tax Adviser
9.00am to 9.55am: Tax Threats to Trust Structures: Dealing with Section 100A Reimbursement Agreements and the Current Changes to 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 Tim Poli, Director, Kings Park Legal
9.55am to 10.45am: Navigating Small Business CGT Concessions and Restructure Rollovers in the Context of Trusts
- Identifying when the small business CGT concessions may be available
- Considering affiliates and connected entities in the context of trusts
- Identifying when a CGT asset is an ‘active asset’
- Distributing capital gains from discretionary trusts and unit trusts (and the application of CGT event E4)
- Eligibility for the small business restructure roll-over relief
Presented by Claire Baggott, Senior Associate, EY Law
10.45am to 11.00am Morning Tea
11.00am to 11.55am: 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
11.55am to 12.45pm: Non-Resident Beneficiaries of a Resident Trust: Practical Tips for You and Your Clients
The interplay between the rules assessing trust income and gains and Australia’s assessment of non-residents is one of the more dynamic and complex areas of Australian tax law. In this session you cover the fundamentals, the dangers and the tools to find answers in a variety of situations including:
- The basis of Australia’s right to tax: source and residence
- How to apply the double tax agreement
- The nuts and bolts of Division 6 (assessing beneficiaries of the trust estate) and Subdivision 115-C (‘streaming’ capital gains through trusts)
- When a non-resident can disregard an Australian capital gain and how that works with gains derived by fixed and non-fixed trusts
- The denial of the CGT discount for non-residents and whether it also applies through trusts
- Withholding tax imposed on the trustee
- Consequences of a change in residence
Presented by Antony Barrier, Director, Munro Doig
Session 2
Estate Planning Strategies
Chair: Jacqui Peachey, Partner, Tax & Advisory, Deloitte Private
1.30pm to 2.30pm: Interplay between Estates and Family Law: What Accountants Needs to Know
- Family law, pre-nuptial agreements and the relevance to estate planning
- How to protect assets against a new spouse when the surviving spouse enters into a new relationship, including a case study
- How to protect a child’s inheritance from their spouse including, do testamentary trusts work and what to do with lifetime family trusts
- How to help children out with property purchases, etc, but still protect the assistance: the increased use of loan agreements and their impact on estate planning
Presented by Karolina Rzymkowska, Counsel and Head of Wills, Estate Planning & Estate Litigation, Bailiwick Legal and Kondwani Mwenda, Director, FMD Legal
2.30pm to 3.30pm: Strategic Structuring for Estate Planning: Is the Answer ‘Own Nothing but Have Access to Everything’?
- Structuring now to protect wealth for future generations
- Interplay between inter vivos asset protection and estate planning
- Particular considerations for business owners
- Is there any easy answer to the proposition of owning nothing but retaining access to everything?
- Tips and traps for consideration
Presented by Lee-Ann Cartoon, Principal, Succession Solutions Perth
3.30pm to 3.45pm Afternoon Tea
3.45pm to 4.45pm: Dealing with the Real Property in Estate Planning
- Joint tenants v tenants in common: is there a different approach?
- Life Interests and other rights of occupancy
- Inter vivos transfers: your essential tips
- How would residency issues matter?
- Sale to fund alternative accommodation
- Mastering CGT implications
Facilitator:
Jacqui Peachey, Partner, Tax & Advisory, Deloitte Private
Panellists:
Lee-Ann Cartoon, Principal, Succession Solutions Perth
Tim Poli, Director, Kings Park Legal
Clifford Hughes, Principal, Clifford Hughes & Associates; Accredited Specialist in Taxation and Business Law; Chartered Tax Adviser
Venue
Mercure Perth
Level 1 10 Irwin St
Perth 6000
WA
Australia