Thursday, 31st May
Registration from 5.15pm for a 5.30pm start
Canapes and drinks served 6.30pm – 7.30pm
As the end of this financial year looms and the new one approaches, it is an important time to consider recent legislative changes and regulator views.
Safe Harbour provisions
- presented by Richard Anderson, Principal Dispute Resolution
This session will cover:
- Safe Harbour provisions that came into force in September 2017
- how this three-stage government initiative encourages and assists entrepeneurship
- the protection it provides for directors
- understanding the benefits and limitations of the provisions for clients and practitioners alike
New GST withholding regime – property purchasers become the new taxman.
- presented by Stuart Monotti, Special Counsel Property
The new laws requiring purchasers of certain residential property to withhold (and pay) the GST on the purchase price to the ATO take effect from 1 July 2018. This session will consider:
- Impact on developer financing, banking, and contracts
- What transitional measures are in place?
- How does it apply to property sold under the margin scheme?
- How should standard land contracts be amended?
- Does it mean the ATO gets priority ahead of banks?
Implications for small/middle and family business after relationship breakdown.
- presented by Vittoria De Stefano, Principal Business Law and Lisa Hunt, Principal Family Law
- Managing the business when the owners/spouses separate – the overlay between business and family law
- Transitional issues and factors to consider
- Sale of business or exiting a spouse
- Family Law property settlement processes and terms of orders affecting business and related entities
Tax traps in dealing with UPEs.
- presented by Rob Jeremiah, Principal
Australia’s taxation system struggles to adequately address trust law concepts. In recent years unpaid present entitlements (UPEs) have presented particular problems for the tax system.
This session will examine how dealing with UPEs has hidden traps for the unwary including:
- creating and satisfying/discharging UPEs
- the income tax implications of releasing, waiving or assigning UPEs
- the release by a private company of its unpaid present entitlement constituting a 'payment'
- the capital gains tax (CGT) implications of releasing, waiving or assigning UPEs
- CGT cost base, capital proceeds and anti-overlap rules.