Confusion continues to surround the transfer balance account reporting obligations that now apply. This session examines the challenges of the reporting obligations and the lessons we can learn from how they operate in practice. It covers:
What is reportable and when? - events that affect a member’s transfer balance
Events an SMSF does not have to report
What happens when fund is reporting quarterly when pension started on 1st July?
Are lump sum payments reportable under TBAR?
A spate of recent high-profile examples involving wage underpayments have shown that no industry is immune. With future reforms on the horizon, it has never been more important for employers and lawyers alike to understand how the landscape has changed and best practice strategies to consider if a suspected breach has occurred. This session will examine:
Unpacking how wage theft can arise – deliberate and inadvertent
The role of the Fair Work Ombudsman in receiving and determining claims
Property practitioners are beset by multiple ethical risks in their daily work. It is a matter of practitioner beware and being forearmed in practice. This session is about awareness of ethics risk in property transactions, including:
Understanding solicitor conduct rules in property transactions
Who is the client in property transactions? – getting the foundations right
Conflict awareness – representing multiple clients in property transactions
A healthy dose of scepticism is a crucial part of an auditor’s skill set. Understanding how far professional scepticism must be taken in practice is examined in this session, including:
Professional standards relating to auditor scepticism - professional scepticism mindset
Control systems in the audit to enhance exercise of scepticism
Guarding against the auditors own personal bias
Managing scepticism within the auditor client relationship
Sentencing submission is an extremely important part of criminal practice. Understanding the practicalities of the submission process is the subject of this session, including:
Preparing a written outline of submissions
Dealing with aggravating features – don’t hide problems away
Ensuring the prosecutor has nothing to say – some practical tips
Care required in what you are seeking – not too much nor too little
What to put in your submission – the importance of sequential order
Wealthy parents often place a large amount of pressure on their children before getting married to enter into a “pre-nup”. This session looks at best practice procedures that should be aspired to in preparing financial agreements, particularly when protecting multi-generational wealth. It includes: What process should be implemented to agree to a financial agreement? Ditching the pre-prepared document approach and why
Developers are impacted with changes to the Sale of Land Act. This session looks at the impact of these changes plus updates on stamp duty liability impacting foreign investors. It includes: Developer obtaining consent of purchaser to terminate off the plan contract Changes to terms contracts and rent-to-buy agreements What residential off the plan contracts must include
As recent breaches have demonstrated, no organization is immune from cyber-attacks. With the rollout of the new Notifiable Data Breach scheme, it has never been more important for boards and senior executives to be across their privacy obligations and to ensure these obligations are given strong operational effect. This session covers:
Overview of the mandatory data breach provisions and regime
Review of breaches and Regulator's approach to date - what are the implications?
There are many potential tips and traps in land tax, which has become an increasingly significant liability for businesses as property prices go up. This session explores a range of land tax issues in practice, including:
Owning your home in a trust:
When is the principal place of residence exemption available?
Conditions for PPR exemption under a testamentary trust
Nominating beneficiaries to obtain a concession - when to make nominations and when to revoke
The sale of a going concern gives rise to a GST exemption which can deliver major transfer duty savings and cash flow benefits to the purchaser, making it a particularly attractive proposition where real property is involved. However, the simplicity of the legislative provisions can mask the complexities in practice. This session analyses Subdivision 38-J of the GST Act through the following case studies:
Sale of a business name, client list and P E - is that enough to constitute the supply of a “going concern”?