Local Tax Club - Geelong

23 February 2024 | 7:30 AM - 9:00 AM | 1.5 CPD hours

This session will cover: 

• Why do we have UPE’s and how do they arise?
• Are s109N agreements good or bad?
• PS LA 2010/4 and TR 2010/3
• Sub-trusts and PCG 2017/13
• Statute barred debts
• Promised amendments
• S100A and S99B
• Bendel stands for and the appeal? Act now?

Speaker: Paul Hockridge, CTA, Hockridge Advisory

Tax update presenter: Robert Warnock, CTA, Harwood Andrews 

15 March 2024 | 7:30 AM - 9:00 AM | 1.5 CPD hours

The media headlines continue to report on ‘the death of family trusts’, ‘ATO trust crack down’, ‘game changer rulings’ and ‘how the wealthy use family trusts’. Clients are left feeling confused. Practitioners are left grappling with the fallout from section 100A, Part IVA and other developments affecting trusts. Hundreds of pages of judgements, rulings, determinations and compliance guidelines have been issued. Sometimes the outcomes contradict. Other times, they call into question years of administrative treatment and practises. It can feel chaotic.

Meanwhile, the ATO continues its assurance activities of privately owned groups, with patterns emerging in relation to family trusts. So what really matters for clients and ATO …. in the ‘real world’?

This session will consider five practical solutions to issues currently facing practitioners:

• Documenting ‘ordinary family or commercial dealings’
  
• Tax governance for trust distributions, including Part IVA
• Managing legacy FTEs
• Not missing out on the small business concessions
• Resident trusts and section 99B

George will share his experiences working with families and private groups, and his thinking on some of the common questions and issues faced by clients, fellow practitioners and the ATO over the last few years in managing these developments.

Speaker: George Psarrakos, CTA, Mutual Trust

Tax update presenter: Neil Brydges, CTA, Sladen Legal

19 April 2024 | 7:30 AM - 9:00 AM | 1.5 CPD hours

Cases and legislative reform in State Taxes have certainly kept us on our toes since our 2023 Local Tax Club State Taxes update!  During this session, Rachel will focus on some significant developments in Victorian State Taxes.  She will also draw some interesting comparisons with interstate counterparts and highlight some of the most important developments interstate.  

The session will include:

• Details about Victoria's new annual property tax (due to commence 1 July 2024)
• An update on the status of the Oliver Hume appeal, an overview of the VCAT decision, including its direct impact and some of the flow-on implications
• An overview of taxpayer challenges to the validity of State Taxes (particular foreign purchaser / owner surcharges); and
• The SRO's compliance activities - valuable insights as to what we're seeing in practice.

Speaker: Rachel O'Donnell, CTA, O'Donnell Tax Law

Tax update presenter: Robert Warnock, CTA, Harwood Andrews 

24 May 2024 | 7:30 AM - 9:00 AM | 1.5 CPD hours

This session will cover:

• Back to basics: types of nominations
• Strategies and considerations for dealing with death benefits
• Considering control of the SMSF as part of the plan
• Incapacity of members and compliance issues; and
• What can go wrong – death benefit nominations, trustees and exercise of discretion.

Speaker: William Moore, Hall & Wilcox Lawyers

Tax update presenter: Robert Warnock, CTA, Harwood Andrews 

21 June 2024 | 7:30 AM - 9:00 AM | 1.5 CPD hours

The panel will share their insights into the key measures in the Federal Budget 2024-25 as well as recent case law and ATO guidance.

Speakers: Glenn Cooper, Australian Taxation Office, Robyn Jacobson, CTA,The Tax Institute, Kathleen Jess, CTA, Wisewould Mahony (Facilitator)

Tax update presenter: Robert Warnock, CTA, Harwood Andrews

26 July 2024 | 7:30 AM - 9:00 AM | 1.5 CPD hours

Employment law and tax law issues remain topical both in the Courts and through law change. Join us for this session where we will discuss the latest updates on:

• Proposed changes to the Fair Work Act, including to the definition of employee and the labour hire provisions;
  
• Superannuation guarantee charge compliance activities; and
• Payroll tax compliance activities.

Speakers: Megan Bishop, Holding Redlich, Charles Power, Holding Redlich

Tax update presenter: Robert Warnock, CTA, Harwood Andrews

23 August 2024 | 7:30 AM - 9:00 AM | 1.5 CPD hours

A person’s main residence can be their most significant asset. The main residence exemption is (arguably) the most generous exemption for post-CGT assets in the income tax legislation. The eligibility requirements are not onerous, and it is available to young and old rich and poor. However, actions, or inactions, can result in loss of the exemption in whole or part. 

Against this background, and in the context of the main residence exemption, what presenters will address includes: 

• Deriving income from a main residence 
  
• Keeping the exemption when demolishing or subdividing 
• Succession and deceased estate issues, and 
• Absences, especially for foreign residents.

Speaker: Neil Brydges, CTA, Sladen Legal, Edward Hennebry, FTI, Sladen Legal

Tax update presenter: Robert Warnock, CTA, Harwood Andrews

20 September 2024 | 7:30 AM - 9:00 AM | 1.5 CPD hours

This session will look at the hot topics that are impacting the super, SMSF and related tax planning field in and about Sept 2024. As a tax and super lawyer, Dan has a great sense of updating advisers on the latest issues and developments and, among other things, will cover the latest on:

• The latest in strategies impacting contributions, pensions and benefits
  
• The latest on the div 296 15% tax on members with $3+m super balances that commences 1 July 2025
• SMSF death benefits, BDBNs, EPoAs, etc
• Where are we at with NALI/E; and
• Other changes…

Speaker: Daniel Butler, CTA, DBA Lawyers

Tax update presenter: Robert Warnock, CTA, Harwood Andrews

25 October 2024 | 7:30 AM - 9:00 AM | 1.5 CPD hours

Assisting private clients navigate international tax issues is a frequently encountered issue as a tax advisor. In this session we will discuss some of the topical issues in the space, including:

• How overseas assignments, secondments and business-related travel can impact residency
  
• Taxation of foreign trusts; and
• Withholding taxes for foreign investments for residents, temporary residents and non-residents.

Speaker: Michael Van Schaik, LZR Partners

Tax update presenter: Robert Warnock, CTA, Harwood Andrews

22 November 2024 | 7:30 AM - 9:00 AM | 1.5 CPD hours

As trusts become less and less fit for purpose when it comes to operating small businesses there is rapidly increasing interest in moving the business into a more appropriate structure.  

Using examples and illustrations, this session will look into:

• Reasons to restructure
• Pathways to restructure, focusing on (but not limited to) Subdivs 122-A and B (roll-over from sole trader, trust or partnership to wholly-owned company) and Subdiv 328-G (small business restructure roll-over)
• Eligibility criteria for these roll-overs
• The consequences of choosing to apply the roll-overs
• Which roll-over (if any) to use in the circumstances; and
• Alternatives to choosing rollover. 

Speaker: Karen Goodfellow, CTA, Goodfellow Tax Advisory 

Tax update presenter: Robert Warnock, CTA, Harwood Andrews