Increasing numbers of cross-border family trusts have led the ATO to intensified interest in distributions made by foreign trusts to Australian resident beneficiaries, and by Australian trusts to non-resident beneficiaries. This session explores various strategic tax issues that arise in this context, including:
When is a distribution from a foreign trust taxable to the Australian beneficiary under s99B?
The implications where a foreign trust distributes a foreign capital gain to Australian beneficiaries: TD 2017/23 TD 2017/24
Stress claims and mental health issues amongst employees can arise in any workplace, but mental health concerns can be particularly acute in the not for profit sector. This session gives practical guidance on how to manage mental health and wellbeing in your organization, including: The responsibility to protect employees from workplace stress under WHS legislation Facilitating conversations about stress and mental health issues in your organization
This webinar looks at notional estates and when they need to be considered. While we often think this topic is only relevant to NSW practitioners, it is becoming more common for Australians to hold their assets in multiple places and therefore, more of a reason for practitioners nation-wide to be aware of the operation of the notional estate rules. We will look at: When can a notional estate order be made? Transfer requirements
The margin scheme is a favourite of residential property developers. It always sounds good in theory, but in practice attempts to use it often fail for want of attention to the detail. This presentation covers all the usual issues when using the margin scheme with a focus on the practical things your clients need to cover off on in order to ensure that their choice is effective and the GST results are not a disaster. Given the freewheeling and swashbuckling nature of many property developers, this is easier said than done! It examines:
What was said during the negotiations leading up to an agreement can have a major impact on the expectations of each party. Where a pre-contractual representation turns out to be false, the implications for the contract can be significant. The other party may have a right to rescind, or to claim damages. This session will provide practical guidance on how to avoid the pitfalls of pre-contractual representations, including:
What is a pre-contractual representation? Understanding the various types:
Innocent misrepresentation
This session examines the ethical dimensions of the bread and butter mainstays of practice – letters of demand and advice. The ethical parameters are explored to ensure that everyday matters do not create unnecessary ethics headaches. It includes:
Letters of demand:
Don’t overstate or mislead
Legal costs and ‘extras’ – ensuring the right to payment
Not misdescribing the nature of the latter
Use of language and format of latter
The small business CGT concessions continue to be a fertile ground for new issues, with support from the integrity measures inserted in 2018. This session examines some of the practical consequences of these changes and other associated issues that have arisen in practice with the small business CGT concessions, including:
How do the concessions apply to share sales depending on whether the shares are held by the family trust or another trust?
Does the shareholder entity satisfy the look through requirements?
There have been many GST cases but by far the largest group are disputes over GST clauses. Getting them right is always harder than it seems: so often the parties either ignore the clause or they don’t even think about GST, and then trouble ensues. This presentation will examine the key issues in the light of the wealth of decided cases. Why you need a GST clause: what happens if you don’t have one. GST clauses in principle – what you need to cover – the straight forward case:
The Division 128 CGT rollover, which provides that any capital gain or loss from a CGT asset held by a deceased immediately before death, seems simple on its face. However, it’s important for advisers to understand just how far it extends – and what it doesn’t apply to. This session walks through the application of Division 128 to the following situations: Asset passing to legal personal representative: what happens when the LPR transfers the asset to a beneficiary?
Outside investors may be brought into a family business for many reasons: additional capital, succession planning, employee remuneration and incentivisation. Whatever the commercial drivers, the tax issues need to be recognised and managed as part of the process. This session examines tax issues that arise from: