Monthly tax updates – Brisbane, Melbourne and Sydney

These updates will provide you with all the vital information regarding tax changes, including new legislation, rulings issued by the Commissioner of Taxation and decisions handed down by the courts and tribunals. All sessions feature a special topic.

Topic one – tax issues for professionals

• professionals and the Personal Services Income rules 
• alienation issues, including Part IVA of the Income Tax Assessment Act 1936
• the use of service entities 
• structuring the professional business
• partnerships of trusts – what works and why?

Topic two – fringe benefits tax

• what’s new for 2012?
• a reminder of the essentials
• planning for fringe benefits tax (FBT) – what works and why?
• employer benefits for employees – managing the FBT risk
• employee share benefits – how do they work?

Topic three – trusts: practical examples of the new streaming rules

• workshop based examples of how Tax Law Amendment (2011 Measures No. 5) Act 2011 applies in practice
• case studies to explore the use of trusts for streaming capital gains and dividends
• the proposed rewrite of Division 6 of the Income Tax Assessment Act 1936 – current status

Topic four – year-end planning issues

• making the right decisions as the year closes
• planning ideas that work – without the risk 
• planning issues for individuals, companies and employers
• planning in a tax reform environment

Topic five – superannuation: planning issues for self-managed superannuation funds

• self-managed superannuation funds – the outcomes of the Cooper Review
• the new regime for auditors
• use of tax file numbers by trustees
• Section 62A assets – collectables and PU assets – keep or offload?
• the traps to avoid
• planning tips for impending retirees

Topic six – tax issues for company directors

• the director’s cut – what am I liable for?
• what are my defences?
• the company or me – who’s responsible?
• the ATO approach to recovery and collection

Topic seven – small business: hot issues facing small-to-medium enterprises

• what’s new for 2012–13?
• immediate write off depreciating assets
• motor vehicles – up front deduction of $5000
• capital gains tax concessions
• planning and developing issues

Topic eight – tax issues for landlords

• the problem areas – deductions
• working out the capital allowances
• the capital gains issues
• subdivisions and partitioning
• GST treatment

Topic nine – GST and real property

• a constant topic that regularly needs to be revisited
• recent case developments
• legislative changes
• changes in use of real property – calculating the impact and the timing issues
• the margin scheme – fully explained

Topic ten – CGT: rollovers

• what relief is available and when do I get the relief?
• a paper to explain all capital gains tax (CGT) rollover relief provisions and how and when they operate
• a step-by-step guide to deferring tax liabilities through rollover relief
• documenting your choices – how, when, and what form does it take?

Topic eleven – getting the paperwork right

• elections – is there a form to fill in?
• notices – when and in what form?
• reporting obligations
• declarations for FBT
• creating the trail of “breadcrumbs” – the audit trail
• electronic document management systems