Tax Intensive for SME Advisers

Session ID: 186AS02
Date: Tuesday, 26 June 2018
Time: 09:00am - 05:15pm
Venue: Stamford Plaza Adelaide Hotel, Level 2 Meeting Rooms, 150 North Terrace, Adelaide

Face to face

7

State: SA CPD:7
Standard Price $695.00
Early Bird Price $595.00

Overview

Session Content

Date: Tuesday 26 June 2018
Time: 9.00am to 5.15pm
Venue: Stamford Plaza Adelaide Hotel, 150 North Terrace Adelaide

Attend the full day and earn 7 CPD Hours/Points

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, family trusts, payroll tax, franking credit strategies, utilising business profits, dealing with ATO debt and more.

Chair: Julie Van der Velde, Principal, VdV Legal; TEP; 2017 SME Chartered Tax Adviser of the Year

Session 1: Tax Guide for SME Advisors

9.00am The Legal Insights: How Does the 2018/19 Federal Budget Affect SMEs?
Lisa 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 Lisa Christo, Lawyer, NDA Law

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 Clifford Hughes, Principal, Clifford Hughes & Associates; Accredited Specialist in Tax Law and Business Law; Chartered Tax Advisor

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 Andrew Burns, Manager, Tax Consulting, HLB Mann Judd

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 Craig Stone, Associate, Hood Sweeney Accounting & Business Advisory
Prepared by BDO

3.00pm Utilising Your Business Profit: Options and Tax Implications
Identify common uses of business profits in growing businesses and related tax issues to watch out for:

  • Growing businesses organically
  • Growing businesses via mergers and acquisitions
  • International expansion
  • Retaining profits in different structures
  • Using tax losses

Presented by Malcolm Wight, Director - Tax Services, William Buck; Chartered Tax Adviser

4.00pm Networking and Refreshment Break

4.15pm LEGAL AND ACCOUNTING PERSPECTIVES: Dealing with ATO Debt

  • Settlement, release, compromise and personal insolvency agreements
  • Disputed vs undisputed tax liabilities
  • The application and remission of penalties and interest
  • Mistakes taxpayers and their agents can avoid when handling an ATO dispute
  • Treasury's proposed Transparency of (Business) Tax Debt measures

Presented by Brett Zimmermann, Senior Associate, DW Fox Tucker Lawyers

  • Options available when/if negotiations and dispute resolution procedures break down
  • What to do if you receive a default judgment and/or a winding up petition
  • Potential rescue plan: Deed of Company Arrangement
  • Case studies

Presented by Neil Cussen, Partner, Deloitte

5.15pm Closing Comments by the Chair

Presenters

Chair:Julie Van der Velde

Julie Van der Velde is the principal of a specialised commercial law firm, VdV Legal and has degrees in Business and Law and a Masters of Taxation Law. With over 15 years' experience advising South Australian businesses her practice focusses on taxation and trust law with an emphasis on estate planning, taxation, tax planning, business structuring, business succession and intergenerational transfers. Julie is a registered Trust and Estate Practitioner, a Chartered Tax Advisor and a Fellow of CPA Australia. She also facilitates on the Law Society of South Australia's GDLP program is a Recommended Wills, Estates and Succession Planning Lawyer, Doyle's Guide 2017and is the Taxation Institute's SME Chartered Tax Advisor for 2017.

Lisa Christo

Clifford Hughes

Clifford Hughes consults to legal, accounting and planning practices in respect of taxation, business structuring and succession issues for their clients. He is an Accredited Specialist in Taxation Law, an Accredited Specialist in Business Law and a Chartered Tax Adviser.

Jonathan Ortner

Jonathan Ortner is a Senior Associate in the firm's taxation group. Jonathan practices in all areas of direct and indirect tax with a particular focus on the taxation of trusts and corporate income tax, mergers and acquisitions and funds management. Jonathan has also advised extensively on: cross- border taxation issues; employment taxes, including the tax treatment of employee share schemes, termination payments and fringe benefits; and the GST implications of transactions and dealings in the development of property. Using his technical tax knowledge, Jonathan works with clients to obtain commercial and practical outcomes. He has particular experience in dealing with the Australian Taxation Office on complex tax issues in a dispute resolution context. Jonathan is a keen and active member of the tax community. As well as presenting on tax topics at various sessions, he has authored and co-authored a number of published articles, papers and bulletins, including Thomson Reuters' Weekly Tax Bulletin, the Tax Institute of Australia and CCH. In 2017, Jonathan won 'Emerging Tax Star' in the Tax Institute's "Tax Adviser of the Year" Awards. Prior to joining Arnold Bloch Leibler in 2012, Jonathan worked in a financial advisory role at a top investment bank. Jonathan holds a Bachelor of Commerce and a Bachelor of Laws from the University of New South Wales. In addition, Jonathan completed his Masters of Tax at the University of Sydney in 2017.

Kaitilin Lowdon

Kaitilin Lowdon is a Senior Associate in the firm's taxation practice. Kaitilin acts for a diverse range of clients, in high profile and complex tax audits and disputes across a wide range of taxation matters. Her clients include high wealth individuals and their businesses. Kaitilin joined Arnold Bloch Leibler as a law graduate in 2011. Kaitilin has a Bachelor of Science and Bachelor of Laws with First Class Honours from Monash University. She is currently undertaking a Master of Laws at The University of Melbourne, specialising in taxation law. Kaitilin is a frequent guest speaker at seminars for tax professionals and in-house tax seminars for clients and accounting firms and is the co-author of a number of tax related articles and publications.

Andrew Burns

Andrew Burns provides expert tax consulting and business services advice to his clients across a range of industry sectors. Andrew has expert knowledge in a full range of tax matters, including income tax, FBT, GST, payroll tax, stamp duty, land tax and superannuation. He provides advice in relation to international tax issues, salary packaging, business and investment structures, as well as ongoing or one-off transactions. Andrew is highly regarded in the industry, being a regular contributor on taxation at conferences and in papers. Andrew has worked with sectors such as government, ASX-listed companies, wine, agribusiness, water, and not- for-profit. In addition, Andrew has more than 15 years' experience assisting the family business sector in SA.

Craig Stone

Craig Stone is an Associate in Accounting & Business Advisory services and responsible for the management of superannuation services at Hood Sweeney. With over 16 years' experience, his intimate knowledge of self- managed superannuation funds and their legislative requirements, Craig ensures the professional provision of dedicated services to clients. With their best interests always at heart, he ensures that his clients' superannuation funds remain compliant - a demonstration of his dedication to perfection, ensuring estate planning documentation for clients remains up to date and appropriate to each clients' circumstances, including liaising with various professionals including lawyers and financial planners. Craig is passionate about assisting clients with their superannuation, estate planning and taxation affairs. He aims to improve their situation by minimising tax, simplifying their tax structures and helping them understand the benefits of the strategy that has been developed and implemented on their behalf. Craig is an active participant in various community organisations and he takes pride in sharing his expertise by past lecturing at the Taxation Institute of Australia.

Malcolm Wight

Malcolm Wright has a degree from UNI SA and is a member of the Institute of Chartered Accountants, Tax Institute and is a tax agent. Malcolm was involved with the Tax Institute where he is a past chairman of State Council and that bodies education committee he earned a meritorious service award presented in 2011. Malcolm has extensive experience in tax matters and is a director of tax services at William Buck South Australia. Malcolm has expertise in most areas of tax consulting, including the CGT concessions, superannuation, succession and estate planning, structuring and restructuring. Malcolm specialises in property, working with high wealth individuals and most areas of the mid-market. Malcolm is actively involved with the community and has board positions with the Glenelg Community Hospital , Kalyra and Adelaide Unicare.

Brett Zimmermann

Brett Zimmermann advises on numerous taxation matters, including Commonwealth and State taxes, the conduct and resolution of tax disputes, asset restructures, trusts and equity law. He also provides specialist tax technical advice in areas such as major client transactions, tax dispute resolution/litigation and corporate insolvencies. With particular relevance to the wine industry, Brett has been heavily involved in advising producers on their eligibility for the WET rebate, and acting on their behalf in dealings with the ATO. Brett lectures on tax at the University of Adelaide, writes on it for leading commentary service Thomson Reuters, and has presented nationally on South Australia's landholder stamp duty provisions.

Neil Cussen

Neil Cussen is the Market Business Leader for Financial Advisory in Western Sydney. Neil's role encompasses the overseeing of growth and development of Deloitte's corporate Finance and Restructuring services; Real Estate and Urban Advisory; and Economics and Commercial. Neil has 30 years of experience in the Insolvency and Reconstruction industry, 20 years as a Partner. During this time, he has been appointed in various capacities in over 1250 external administrations. Focusing predominately on asset recovery to the Middle Market Nei's main objective has always been preserving businesses and maximizing the return to stakeholders. Neil also specialises in pre lending, investigatory and expert reports for financial institutions. As a strategic advisor to business, he has developed opportunities for companies to identify areas for improvement in operational and financial performance.

Venue Details

Stamford Plaza Adelaide Hotel

Level 2 Meeting Rooms, 150 North Terrace
Adelaide 5001
SA, AUS

Ph: 08 8461 1111

Directions:

Nearest train station is Adelaide Railway Station.

Valet parking is available at the Stamford Plaza hotel from AUD $40 per

car, per day.

Guest Self Parking is available at the Stamford Plaza hotel from AUD

$20.00 per 24 hours.

No parking or travel costs are included in the conference fee.

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