Practical Tax Fundamentals for Junior Staff - a series of 5 one hour video webinars

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Practical Tax Fundamentals for Junior Staff

a series of 5 one hour video webinars

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 ABOUT THE SERIES

For some time, our regular clients have been asking us to help with programs designed to help the task of training more junior tax advisers in the fundamentals of complex, practical tax issues that are commonplace in professional practices today. 

This series is a first step in answering this call.  In it, we have covered two critical areas of tax practice affecting advisers whose clients include SMEs and investors: trust distributions and Division 7A.  There are two programs on each of these subjects.  In addition, the series also covers another important issue: the distinction between employee and independent contractor for tax purposes.


Trust Distributions – The Fundamentals

  • This video webinar will explain the principles underpinning the distribution of trust income taking into account the terms of the trust deed and the rules in Division 6 of the 1936 Act.  Issues covered will include the scheme of the ITAA of the taxation of trust income, understanding the proportionate view, the difference between trust law income and trust income for tax purposes, the concept of distributable income, understanding the deed income clause and finally the framing of trust distribution resolutions.

Trust Distributions – Streaming Capital Gains and Franked Dividends

  • This video webinar will build on the first in the series and look at distributions involving streaming of capital gains, franked dividends and other income.  This presentation will review the power to stream income in the deed, the streaming provisions of the 1936 Act and how they work, how to stream capital gains and franked dividends, Thomas’s case, streaming that doesn’t work and finally the framing of trust distribution resolutions streaming trust income.

Division 7A, Deemed Loans, Payments and Permitted Repayment Arrangements

  • This video webinar will cover the basics of Division 7A, including the expanded meaning of loan, the expanded meaning of payment, the consequences of Division 7A applying, establishing amalgamated loans under section 109N, examples of loan agreements, interest calculations and repayments and repayment strategies.

Complex Division 7A Arrangements

  • This video webinar will build on the first in the series and examine more complex Division 7A arrangements, including how Division 7A works with interposed entities, the application of Division 7A to trusts, including unrealised gains under Subdivision EA and unpaid present entitlements to corporate beneficiaries.   The webinar will explain the options available to practitioners when the need arises to manage distributions and repayments through these complex structures.

Employee or Independent Contractor?

  • And why does it matter?  The short answer: PAYG withholding, SG contributions and payroll tax.  Certain industry sectors thrive on independent contracting arrangements and they rely on their accountants to advise them when they are overstepping the mark.  This webinar will provide a meaningful understanding of the distinction between employee and independent contractor, in the absence of bright line tests.  It will also look at these rules in context: specific industries, arrangements with contractors through companies and arrangements with labour hire companies.  It will also highlight the definitional differences of employee between different imposts.
 THE FACULTY

Damian O’Connor, Principal, Tax + Law, Brisbane

Damian is a Tax Lawyer and Chartered Tax Advisor with clients in Melbourne, Brisbane, the Gold Coast, around Australia and overseas.

He has been helping clients with Corporate, Commercial and Tax aspects of their businesses for 18 years, most recently as a tax partner with national law firms, following 23 years with the Australian Taxation Office as an investigator and auditor and in other roles.

Damian has assisted many clients with the tax complications of planning and structuring their business and financial affairs, and has successfully managed taxation audits (including payroll tax and state duty dealings), debt and penalty negotiations, Director Penalty claims, private rulings, objections and tax appeals to the AAT and the Federal Courts.

He has considerable experience working for clients when the going gets tough, and has defended tax prosecutions and managed many contentious, complex, high risk and high stress tax matters, including Project Wickenby raids.

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Arthur Athanasiou, Partner, Thomson Geer Lawyers, Melbourne

Arthur is a Partner with Thomson Geer Lawyers, and is an Accredited Tax Law Specialist and a widely published writer on taxation issues having written many articles and books on taxation.  He regularly appears in the mainstream media, and presents at tax seminars and discussion groups.  Arthur qualified as a Chartered Accountant in 1987, and has held senior taxation and management positions in the transport and motor vehicle industries.

He has extensive experience in all areas of direct and indirect taxation, domestic and internationally.   Arthur’s main area of practice is dispute resolution, particularly in the SME sector, with both the ATO and the SRO.

Arthur has many years of experience in complex tax litigation and tax audit negotiations and settlements, as well as broad experience in the taxation of entities, with an emphasis on Division 7A. 

Arthur is a former President and Life Member of the Tax Institute, chair of the Tax Law Specialist Accreditation Board and now serves on the IPA-Deakin SME Industry Advisory Board.

Fletch Heinemann, Partner, Cooper Grace Ward, Brisbane

Fletch Heinemann is one of the partners in Cooper Grace Ward’s tax team. He specialises in tax disputes and litigation. His most recent cases include Dominic B Fishing, where the taxpayer was successful in persuading the Tribunal that its fishermen were not employees, and Dempsey, a strong win for a non-resident with various connections in Australia, but that did not cause him to reside here.

Fletch’s clients include accounting firms and other law firms. Fletch has recently obtained a successful Part IVA ruling from the Commissioner on a professional practice restructure that resulted in substantial tax benefit, and has helped clients with audits generated from the Commissioner’s recent interest in professional practices generally.

Before joining Cooper Grace Ward, Fletch worked at Baker & McKenzie in Sydney and a Big 4 accounting firm in the UK and then China.

WHAT YOU GET

This video webinar series includes the following components:

  • Online access to the 5 one hour video webinar programs covering the subjects listed above
  • Online access to the technical support papers and/or powerpoint presentations accompanying each program
 ENQUIRIES/ASSISTANCE
If you need assistance or have an enquiry, please do not hesitate to contact us, on (03) 9670 2055 or email: info@tved.net.au
Product Code: TAXFUND18
 Price:  $1,100.00 (Inclusive of GST)