Taxpayers Australia's 2012 Seminar Series

SUPERANNUATION

• 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• new legislation to enable some excess contributions to be withdrawn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
  A full analysis of ruling SMSFR 2011/D1 including:
• interpretation of the key term ‘single acquirable asset'
• comparing a repair to an improvement - why does it matter?
• can a borrowing be refinanced?
• what issues remain unresolved?
• the circumstances in which an LRBA may be appropriate (it's not for everybody!).
• AND CASE STUDIES TO HIGHLIGHT KEY ISSUES!

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SMALL BUSINESS & CGT CONCESSIONS

• How the concessions might eliminate 100% of an otherwise assessable capital gain
• The 'basic conditions' to be satisfied - Division 152 ITAA1997
• 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 $1,205,000 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 rollover 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!

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ESTATE PLANNING

• In what circumstances should asset divestment be commenced during lifetime rather than being left to form part of the deceased estate?
• Division 128 ITAA1997 deals with CGT events arising as a result of death - obtain a detailed understanding of the provisions
• What are the benefits of a testamentary trust?
• how the CGT provisions apply
• the implications of life and remainder interests including a detailed review of TR 2006/14
• How superannuation benefits may be applied as part of an estate plan
• to whom can a pension be paid?
• should reversionary pensions be made 'automatic' as a result of the views expressed By the Commissioner of Taxation in TR 2011/D3?
• the taxing of lump sum and pension benefits
• In what circumstances can the main residence of the deceased be disposed of tax-free by the estate trustee or a beneficiary?
• The implications which the death of a shareholder/unitholder will have on a company or trust
• The implications of death where significant family assets are held in a non-fixed trust
• Supplemented by a comprehensive case study!

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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 30-minute 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.