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Recorded Webinars

Recorded Webinar: Distributing Profits within Professional Practices: The Commissioner Strikes!

Interpretation of ATO guidelines on distributing profits within professional firms has been wide ranging and often creates high-risk situations. Recently, the Commissioner has changed his spots and is being tougher on the proportion of total practice income which ends up in the pr

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About the Webinar

Interpretation of ATO guidelines on distributing profits within professional firms has been wide ranging and often creates high-risk situations. Recently, the Commissioner has changed his spots and is being tougher on the proportion of total practice income which ends up in the professional’s hands personally. This session examines the guidelines, recent changes in this area and the correct interpretation:

  • The current ATO position – pre-and post 14th December 2017
  • Everett assignments – are they still on?
  • Allocation of profit arrangements that are of high risk
  • When will income generated be personal services income
  • Criteria for classifying a practice as high or low risk from an audit perspective:
    • satisfying the equivalent remuneration test
    • satisfying 50% remuneration test
    • satisfying 30% effective tax rate test
  • What will heighten the risk of audit?
  • Case studies – Audit checklist for high-risk behaviour

Presented By

Anna Wilson
Barrister, Victorian Bar Melbourne, Vic

Anna acts for the Commissioner and the taxpayer in both State and Federal jurisdictions. Her practice extends to tax technical and structuring advice, tax investigations and audits, private rulings and objections, through to litigation and alternative dispute resolution. Anna also acts in regulatory/disciplinary matters such as those involving registration with the Tax Practitioners Board and/or membership of professional accounting associations. She was involved in the superannuation round of the Financial Services Royal Commission and acts in disputes between members of self-managed superannuation funds.

Anna lectures in the Masters program at Melbourne University, teaching the subject Capital Gains Tax: Problems in Practice.

Who Should Attend?

This webinar is suitable for accountants and lawyers advising in taxation matters – Australia wide. This webinar is for practitioners with some knowledge in this area and looking to improve their knowledge.

Enquiries/Assistance

If you need assistance or have an enquiry, please do not hesitate to contact our Webinar Coordinator, Lisa Tran on (03) 8601 7709 or email: [email protected]

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