Business Formation, Tax Planning & Exit Strategies
Face to face
Date: Tuesday 19 June 2018
Time: 9.00am to 5.15pm
Venue: Crown Perth, Great Eastern Highway, Burswood
Attend the full day and earn 7 CPD Hours/Points
The number of small businesses in Australia is high, but so too are the number of risks facing those businesses. A failed business means a lost client and the end of what could have been many years building a strong and profitable business relationship. So what can you do to maintain the clients that you work so hard to gain? A good start is ensuring that when you're assisting in the startup of a business, you implement the best structures and employ the most savvy tax strategies. And while the start of a business is important, the end is also crucial. Master the key tax strategies of transitioning a business to a new owner, selling it, or liquidating the company so that when your client decides to cash out they can attain the best possible outcome and you can share in the success.
Chair: James Tng, Director, Moore Stephens
Session 1: Effective Formation and Planning Strategies
9.00am Tax Considerations of Acquiring an Established Business
- Comparison between purchase of shares versus purchase of underlying assets, including depreciation, GST, stamp duty, losses
- Issues to consider when reviewing sale and purchase agreements
- Purchase of shares: how tax consolidation can affect an acquisition
- Vendor's tax position: CGT discount and small business concessions
Presented by Daniel Taborsky, Senior Associate and Aimee Riley, Associate, EY Law
10.00am Tax Planning: Beginning with the End in Mind
- Main structuring choices
- Overview of asset protection principles
- Key tax issues
- Fixing heritage structuring issues tax effectively
- Case studies
Presented by Tim Poli, Director, Kings Park Legal
11.00am Networking and Refreshment Break
11.15am Division 7A: Get it Right from the Start
- Division 7A and trusts: effective management of unpaid present entitlements
- Potential traps and recent ATO activity with associates and interposed entities
- Valid repayments of loans and Commissioner's Discretion
Presented by Laura Coles, Senior Manager, PwC
12.15pm Government Grants and Tax Concessions for SMEs
- Getting R&D tax incentive claims right
- Export market development grants: proof is in the planning
- Accelerating commercialisation grants
Presented by Natalie Milne, Partner, BDO
Session 2: Cashing out: Advanced Exit Strategies
2.00pm Who Should get the Business: Family, Key Employee or Market Buyer
- Preliminary considerations when selling the family business: legacy and succession planning
- Selling to family
- Choosing a successor
- Transfer of ownership and management
- Pricing, structuring options and tax implications
- Selling to non-family
- Selling to employees or market
- Advantages and disadvantages
- Considerations in terms of pricing, structure and tax
Presented by Brian Lovitt, Director, Hewett & Lovitt Pty Ltd
3.00pm Business Sales: Setting up for Life and Beyond
The transition from business owner to wealth manager after a liquidity event is extremely complex. This session examines the options available to:
- Extract and structure wealth post sale
- Protect the hard earned capital
- Ensure that the family establishes an appropriate family governance framework
- Position the wealth effectively for transfer to the next generation
Presented by Paul Dawson, Partner - Tax, Grant Thornton; FTI
4.00pm Networking and Refreshment Break
4.15pm Tax Implications in Company Liquidation
- Solvent liquidations
- When to use liquidation instead of deregistration
- Tax implications on shareholders: deemed dividend in accordance with section 47 of the Income Tax Assessment Act 1936
- Information liquidators rely upon in making a distribution to shareholder
- Distribution of pre-CGT assets
- Tax implications and obligations on insolvent companies including liquidations, voluntary administrations, deeds of company arrangement and receiverships
Presented by Matt Donnelly, Partner, Deloitte
5.15pm Closing Comments by the Chair
James Tng has been a partner since 2006. James has been responsible for our specialist tax services and international tax division, along with our growing superannuation advisory division. He has decades of experience in tax and business advice to businesses, migrants, overseas and Australian businesses and government agencies. James generally looks after the ongoing tax affairs for our larger clients with complex tax issues and has extensive knowledge and experience in assisting clients with business advisory, development and planning issues. He has helped several clients overcome major obstacles, deal with tough decisions and capitalise on new opportunities to generate tangible results. James also assists larger Oil & Gas clients by providing strategic financial know-how and applying his extensive knowledge of tax systems. James regularly presents for the Institute of Chartered Accountants and is a Chartered Tax Advisor.
Daniel Taborsky, CTA, is a Senior Associate in the Law team at EY and is admitted as a Lawyer of the Supreme Court of Western Australia. Daniel has 10 years experience advising clients with taxation and duty matters, including providing advice to clients as part of family law proceedings. Daniel has significant experience in dealing with disputes with the Australian Taxation Office and State Revenue Offices.
Aimee Riley is an Associate in the Law team at EY and is admitted as a Lawyer of the Supreme Court of New South Wales. Aimee has recently been named as a finalist for the Tax Institute's 2018 Emerging Tax Star Award, and was a finalist in the Taxation category of the Law's Weekly 30 under 30 Awards in 2017. Aimee works predominately with high net wealth individuals and large privately owned corporate groups in advising and managing their tax, trust and estate affairs, her work includes advising clients in relation to asset protection concerns and implementing effective strategies.
Tim Poli is a Director at Kings Park Legal. His clients range from individuals to listed public companies and he provides advice regarding all Commonwealth and State taxes, ATO audits, tax litigation and business structures / restructuring. He represents and appears for clients in the Administrative Appeals Tribunal and all State and Federal courts across a variety of tax and superannuation related matters from Part IVC tax proceedings to tax prosecution matters. He is admitted as a barrister and solicitor of the Supreme Court of Western Australia and the High Court of Australia. Tim was named the Tax Institute's Emerging Tax Star in 2016.
Laura Coles is a Senior Manger at PwC Perth in the PrivateClients team. She works with a wide range of clients from high net wealth individuals and family groups to multinational corporations and not for profit organisations. Laura's background is in accounting and tax but she has expanded her skills into the business advisory space where she assists her clients in developing financial reports, budgets, forecasts and tools to assist in the financial management of their businesses. Laura is also active in the startup community in Perth, she has mentored students from Profectus UWA (UWA's entrepreneur association), mentored at PwC's digital challenge in partnership with Synergy and participated in the Startup Weekend Perth at Spacecubed. Laura is always looking for new ways to develop herself and is currently undertaking an Introduction to Psychology course to further her development as a manager and professional services provider.
Natalie Milne is a Partner of the Tax team with over 16 years of experience working in indirect tax across a broad range of industries. She provides practical hands on assistance to her wide range of clients. As an Indirect Tax Specialist and leading the BDO Perth Indirect Tax team, she has advised clients in all areas of indirect taxes and has had a particular focus on GST and R&D tax incentives. Natalie assists clients of all sizes to maximise their indirect tax opportunities, while maintaining an appropriate focus on compliance. Prior to joining BDO in 2009, Natalie held a number of senior positions within Big 4 firms and has assisted with the indirect tax management and compliance of some of Australia's largest entities.
Brian Lovitt obtained a law degree from Trinity College, Dublin in 1978 and was admitted to the Irish Bar shortly thereafter. He then qualified as a member of the Institute of Chartered Accountants in Ireland whilst working in the audit and tax divisions of the Dublin office of Arthur Andersen. Brian also qualified as member of the Taxation Institute of Ireland. Brian worked for two years with Coopers & Lybrand in Papua New Guinea as a tax manager and transferred to the Perth office of Coopers & Lybrand in 1988 where he continued to work as a tax manager. He was admitted to practice law in Western Australia in 1991 and have since this time practised as a solicitor. Currently Brian is a director of an incorporated legal practice that specialises in tax and commercial law. He has been a member of the Taxation Institute of Australia since 1991 and has had extensive involvement with the WA branch of the organisation serving for a number of years on the Education Committee, becoming Chairman for two years, sitting on the State Council and becoming State President. Brian has lectured to the Institute of Chartered Accountants Professional Year module, at the University of Western Australia and at Curtin. He practises in the areas of estate planning, revenue and commercial law and state taxes, advising a number of accountants, companies and individuals. Brian has been dealing with trusts and estate planning as part of my practice throughout his professional career - both in terms of setting up, varying and vesting trusts and the tax and stamp duty issues that go with this and as part of his general estate planning work.
Paul Dawson has over 16 years' experience in public practice in both the tax and business advisory areas. Paul has extensive experience in providing taxation advice and compliance services to a broad range of clients across Energy & Resources, Manufacturing, Real Estate & Construction, Retail and Professional Services. He specialises in corporate taxation, business restructuring advice, and other taxes including GST, FBT and payroll tax. Paul also has extensive experience in financial reporting for listed and unlisted public companies and compliance with AIFRS.
Matthew Donnelly has spent his career analysing and solving complex strategic and financial problems. Matthew specialises in assessing, protecting and extracting value, even in the most difficult circumstances. Matthew leads boards, management and financiers through complex financial analysis and strategic restructuring. Matthew acts as a strategic and investigative accountant, restructuring advisor and Voluntary Administrator, in order to maximise the outcome for invested stakeholders. Matthew has experience is complex work-outs, international investigations, industry restructurings, informal debt restructuring and large administration trade-on and sales.
Ground Floor function room, Great Eastern Hwy
Closest Train Station: Burswood Train Station
Parking: There are 1,500 available parking bays at P2 Mutli-level Parking -
rates vary, please visit for rates-
Parking is not included in the registration fee and is subjet to change.
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