Taxpayers Australia's 2012 Seminar Series

ESTATE PLANNING

• An update of legislative changes and interpretations of the Commissioner of Taxation
• CGT events occurring upon the death of a taxpayer
  • When does a tax liability arise?
  • The dangers in the beneficiaries dealing in assets other than as the deceased intended
  • The approach taken in TR 2006/14: CGT consequences of creating life and remainder interests in property
• The implications of utilising a testamentary trust
• Superannuation benefits forming part of an estate plan
  • Should reversionary pensions be automatic - TR/ 2011/D3
  • The taxing of lump sum and pension death benefits
• The strategic use of anti detriment payments to supplement death benefits and generate tax deductions
• Disposing of the deceased's main residence tax-free
• The implications on a company or fixed trust upon the death of a shareholder or unit holder
• The use of non-fixed trusts to hold family assets which appreciate in value

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SMALL BUSINESS & CGT CONCESSIONS (COMPLETED)

Comprehensive notes detailing all the information covered in the seminar, plus a video presentation by Roger Timms, Head of Tax & Superannuation, summarising key insights on how to identify and fully utilise the small business CGT concessions available, are available in our online shop.

What if you are a taxpayer or tax advisor and you don't identify an available CGT concession, or you wrongly access a concession? The seminar will address the following issues:

• How the concessions might eliminate 100% of an otherwise assessable capital gain
• The 'basic conditions' to be satisfied - Div 152
  • maximum net asset test: clarification from the Federal Court as to the liabilities which can be included
  • small business entity test: how is 'turnover' determined?
  • when is an entity 'connected with' or an 'affiliate; of' a taxpayer and what are the implications?
  • when is an asset 'active' - how can an asset which generates only rental income be considered an active asset?
• The importance of the 'significant individual' and 'CGT concession stakeholder' tests
• How the concessions can be accessed when the capital gain arises from the disposal of shares or units
• How the concessions can be used to enable an additional $1,255,000 to be contributed to superannuation without breaching contribution caps
• Find out why the 15-year exemption is the most advantageous of the concessions and how access can be lost as a result of utilising the CGT roll-over provisions
• Find out whether a taxpayer can utilise the retirement exemption multiple times
• Understand the scope for the concessions to be available to a deceased estate and the beneficiaries of the estate
• Supplemented by a comprehensive case study!

SUPERANNUATION (COMPLETED)

Comprehensive notes detailing all the information covered in the seminar, plus a video presentation by Roger Timms, Head of Tax & Superannuation, summarising the key issues and potential pitfalls, are available in our online shop.

• The events of 2011-12
  • an update on the controversial ruling TR 2011/D3 regarding pensions
  • excess contributions
    • new legislation to enable some excess contributions to be withdrawn
    • the fate of requests for an exercise of the Commissioner's discretion to reallocate
  • the new rules for holding personal use assets and collectables
  • the impediments created for members making in-specie contributions
• Superannuation contributions
  • concessional - key interpretations in TR 2010/1
  • maximising non concessional contributions
  • super guarantee obligations - employee or contractor?
  • interaction with the small business CGT concessions
  • adopting reserving strategies in the fund
• Payment of pensions
  • the administrative requirements
  • maximising the tax-free component
  • utilising multiple pension strategies to advantage
• In-house assets
  • understand the meaning of key terms such as 'Part 8 Associate' and 'related party'
  • when can an SMSF acquire units in a closely held unit trust?
  • can such unit trusts enter into borrowing arrangements?
  • will unpaid entitlements owed by a unit trust to an SMSF unit holder result in an in house asset?
• Limited recourse borrowing arrangements - ruling finalised!
  A full analysis of ruling SMSFR 2012/1 including:
  • interpretation of the key term ‘single acquirable asset'
  • comparing a repair to an improvement - why does it matter?
  • can a borrowing be refinanced?
  • the circumstances in which an LRBA may be appropriate (it's not for everybody!).
• AND CASE STUDIES TO HIGHLIGHT KEY ISSUES!

FRINGE BENEFITS TAX (COMPLETED)

Comprehensive notes detailing all the information covered in the seminar (notes include a CD containing a 2012 FBT checklist, interactive proforma declarations plus Car Salary Packaging Ready Reckoner), PLUS a video presentation by Roger summarising the key issues which are typically relevant to the 2011-12 FBT year, are available in our online shop.

• How do the new rules for calculating car fringe benefits apply?
• What determines whether the new or old rules should apply?
• The effect of the new car fringe benefits tax rules on salary packaging
• Consideration of the new ruling TR 2011/3 dealing with 'cost price' of a car for FBT purposes
• Why is the Tax Office attacking LAFHA arrangements - how should the rules be applied?
• The FBT implications for employers providing iphones, ipads and similar technology to employees
• Dealing with meal entertainment - the implications of the actual, 50/50 and 12 week register methods
• The minor benefit exemption -
  • when will the annual Christmas gift or function for staff be exempt
  • will the 'employee of the month' gift be exempt?
• Understand how the FBT 'paper war' can be won by the employer (and receive on disk standard form declarations which satisfy legislative requirements)
• Receive a comprehensive analysis of all the significant Tax Office FBT announcements during the year.