Wednesday, 20th March
4.00 pm - 6.00 pm
The regulatory environment for small businesses continues to evolve, and keeping across both the broad policy developments and the details is always a challenge.
Join Don Robinson Principal Lawyer Business Law; Rob Jeremiah, Principal Business Law and Neil Brydges, Principal Business Law in their review and commentary of:
Changes in trusts and tax.
Legislative developments regarding testamentary trusts and Div 7A loan arrangements
The proposed ALP tax reforms to tax discretionary trusts
Like companies and how it impacts structuring
SBCGT and the gateway tests for shares and units.
There have always been additional basic conditions that must be satisfied in order to apply the SBCGT concessions to a capital gain arising in relation to a share in a company or an interest in a trust.
Those requirements were amended through 2017 and 2018 through a confusing series of Budget announcements, exposure legislation, Bills and amendments through the Senate.
Now that the dust has settled, can the SBCGT still be applied to shares and units in practice? This session will explore this question through considering worked examples.
Small business turnover tests - the devil is in the detail.
Satisfying the threshold requirements for the small business tax concessions, SBCGT concessions, and the lower corporate tax rate is seemingly innocuous but one of considerable complexity for groups with multiple entities. Pre-transaction structuring to meet those requirements can also ‘release the dragon from its lair’ in terms of engaging anti-avoidance provisions
This session will look at, together with examples:
What is ‘aggregated turnover’, what to include, or not include
‘Base rate entity passive income’ for purposes of the lower corporate tax rate
Pre-transaction structuring and the anti-avoidance provisions, what attracts the ATO’s attention