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102012
Live Online Conferences

Hear from the experts at this online lunchtime conference. You can watch it on your computer or on your portable electronic device from anywhere.

The conference will be based on our highly successful video webinar technology: there'll be a chairperson, presentations and you'll have an opportunity to ask questions via online chat.

Date/Time

Friday 24th May 2024
Vic, NSW, ACT, Tas: 12noon to 3.15pm
QLD: 12noon to 3.15pm
SA: 11:30am to 2:45pm
NT: 11:30am to 2:45pm
WA: 10:00am to 1:15pm

About the Online Conference

Session 1: Division 7A, Section 100A and Other Inter Entity Loan Issues Impacting the Estate Plan

A balance sheet review of loans between associated entities is a necessary, yet sometimes overlooked, procedure in developing an estate plan. Unravelling these loans after the death of an affected party without proper forethought can be messy and result in unintended consequences. This session explores the issues and strategies available when such loans are identified, including:

  • What are the issues arising with associated entity loans that are going unaddressed until a deceased estate is being administered?
  • Addressing issues where loans owing to a deceased estate are funding business operations
  • How to deal with Division 7A loans and issues in the estate plan
  • The unforeseen tax implications that may arise when writing off loans by journal entry
  • How timing the forgiveness of a loan can impact the tax outcome (ATO ID 2012/77)
  • Is recent ATO section 100A guidance material impacting on estate planning?
  • How to manage loan issues associated with bucket companies
  • Strategies pre death to minimise adverse tax consequences for a deceased estate, including:
    • reviewing dividend policies and the impact on loans
    • ensuring loans are tax compliant
  • Case study

 

Session 2: How Family Trust Elections Impact the Estate Plan

Family trust elections are often made, amongst other reasons, to achieve a tax effective outcome for claiming carried forward losses or ensuring beneficiaries can access franking credit entitlements. However, it is also important to ensure the making of an FTE aligns with the longer term estate planning objectives of the controlling individuals. This session explores the issues, including:

  • What is the impact on trusts that have and haven’t made an FTE?
  • What is the effect on a trust if a “test individual” dies?
  • How important are the existing relationships of a “test individual” as at the date of the test individual’s death?
  • Can the effects of having a “test individual” create complications for blended families?
  • Can you revoke an FTE if it is not meeting estate planning intentions?
  • Does the death of a “test individual” restrict other entities from making an interposed entity election to be included in the family group? (ATO ID 2014/3)?
  • Can a deceased estate be part of a family group, making it potentially eligible to receive trust distributions?
  • Practical case studies

 

Session 3: Don’t Leave Me Out: Trustee Distributions and Discretion

The financial year end is drawing to a close, marginal tax rates of potential beneficiaries have been considered and the trustee determines the income distribution allocation for the trust. If this is the annual procedure being followed for distributing trust income, recent developments arising from disgruntled beneficiaries may cause you to have a rethink. This session looks into how trustee discretion is being challenged, including:

  • Why are trustee distributions being challenged?
  • What are the duties of a trustee when distributing trust income?
  • What are the rights of the potential beneficiaries of trust income?
  • Case review and key takeaways of a successful challenge to discretion applied by a trustee (Owies v JJE Nominees Pty Ltd [2022] VSCA 142)
  • What is the tax impact if distributions are held to be void?
  • Tips for procedures for trustees and advisers to follow to minimise risk
  • Case studies

 

The Faculty

Lee-Ann Cartoon, Principal, Succession Solutions Perth, WA (Chair)

Daniel Smedley, Principal, Sladen Legal, Melbourne, Vic

Ian Burgess, Director, Burgess Chartered Accountants, Brisbane, Qld

Edward Skilton, Principal Lawyer, Sladen Legal, Melbourne, Vic

CPD Certificate

Delegates registered to attend the LIVE event will receive a CPD certificate for attendance. 

Lawyers can claim up to 3 CPD units/points (substantive law). Accountants can claim up to 3 CPD hours.

Registration Special Offer

If you register and pay by 29th April 2024 you will pay only $385 – a saving of $165 off the full price conference registration fee of $550.

Enquiries/Assistance

If you need assistance or have an enquiry, please do not hesitate to contact our Conference & Event Coordinator, Jason Hooker on (03) 8601 7719 or email: [email protected]

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