Ensure that you are up-to-date with recent changes affecting your small business clients. This series will provide you with a timely update on changes to FBT and the current focus areas for the ATO. WEB234A01Z
Description
Teachers attending the entire series earn 6 Professional Development Hours (NSW, VIC) / CPD Points (QLD, WA, SA)
Lawyers attending the entire series earn 6 CPD units in Substantive Law
This program is applicable to practitioners from all States & Territories
If you register for the full series as a live online product after the date of an individual session, you will be sent the recording for the sessions that have passed. Alternatively, you can register for individual sessions by following the links below.
Advising Small Business Series: FBT Update 2023
Thursday, 13 April 2023
Just in time for the FBT returns, this webinar provides you with an update on the most recent key changes with FBT including electric cars and working from home, as well as an understanding of the current focus areas of the ATO regarding FBT. Be prepared to complete your clients’ FBT returns.
Description
Attend and earn 1 CPD unit in Substantive Law
This program is applicable to practitioners from all States & Territories
9.00am to 10.00am Update on Changes with FBT
- The key changes around FBT that should be considered, including electric vehicles and record keeping changes
- Changes around car parking
- Work from home arrangements and FBT considerations around this
- ATO focus area in relation to FBT
Presented by Shivani Krishnamoorthy, Director, Employment Solutions, Grant Thornton
Presenters
Ms. Shivani Krishnamoorthy, Director, Grant ThorntonShivani is a director in Grant Thornton Australia, who has had 12 years of experience within the Big 4 and mid-tier space, focusing on employment taxes. Her specialisation includes, fringe benefits tax, payroll tax, superannuation and managing a globally mobile workforce. Shivani has also assisted clients around the design and implementation of employee share scheme. In addition, she has assisted many clients with policy changes, employment tax reviews and also ATO/SRO initiated audits. Shivani has also ran many seminars and employment tax health clinics for many clients, assisting them with understanding key focus areas from an employment tax perspective.
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Advising Small Business Series: Update on Foreign Ownership of Australian Assets
Thursday, 11 May 2023
Ensure that you understand the impacts and mechanisms of the new Register of Foreign Ownership of Australian Assets as well as the ATO’s new online services for foreign investors and authorised contacts, review details of the Foreign Resident Capital Gains Withholding measure, including clearance certificates, variations and exemptions.
Description
Attend and earn 2 CPD hours in Technical Competence
This program is applicable to practitioners from all States & Territories
9.00am to 10.00am Major Reforms to Foreign Investment Framework
- Recap on current foreign investment law and policy
- The new Register of Foreign Ownership of Australian Assets (Part 7A of the Foreign Acquisitions and Takeovers Act 1975);
- What new Australian assets will be caught
- Commencement date
- How and when to register an asset
- Updating information held on the register
- Penalties for failing to register the asset
- An overview of the ATO’s new Online services for foreign investors and authorised contacts commencing 26 June 2023
Presented by Libby Haydon, Director – Stakeholders and Reporting, Foreign Investment Programs, PG&I, Australian Taxation Office and Chris Frith, Law & Policy Manager, Australian Taxation Office
10.00am to 11.00am Foreign Resident Capital Gains Withholding
- Summary of Foreign Resident Capital Gains Withholding measure
- Clearance certificates
- Variation requests
- Exemptions
Presented by Melinda Tainsh, Director –Australian Taxation Office
Presenters
Ms. Libby Haydon, Director – Stakeholders and Reporting, Australian Taxation OfficeLibby Haydon is the director of Reporting and Stakeholder Engagement with the Foreign Investment Programs division of the Australia Taxation Office. This role is involved the regulation of foreign investment into residential real estate under the Foreign Acquisitions and Takeovers Act (FATA) and keeping several registers of foreign ownership of land and water entitlements. The ATO operate under a coregulation partnership model with the Treasury and part of Libby’s role is managing this important relationship. Libby has worked for the ATO for over 24 years, joining the graduate program way, way back in 1999. For the first 15 years, Libby worked in income tax and GST compliance roles predominantly focused on high wealth taxpayers with foreign source income with the last 8 being focused on the regulation of foreign investment in Australia.
Mr. Chris Frith, Law & Policy Manager, Australian Taxation Office
Chris Frith has extensive experience in law and policy within the ATO and is currently the manager of the Law and Policy team in the Foreign Investment Program of the ATO. The law and policy team are responsible for the provision of legal advice in respect the elements of the foreign investment law and policy administered by the ATO, including the new Register of Foreign Owned Australian Assets.
Ms. Melinda Tainsh, Director, Australian Taxation Office
Mel Tainsh is an assistant director in Risk and Strategy Individuals within Superannuation and Employer Obligations at the Australian Taxation Office. This is a product ownership role that (among other things) includes Foreign Resident Capital Gains Withholding, involving management and support for the issuing of clearance certificates, variations and the payments process. Mel has worked in the ATO for 20 years with experience in Small Business, Single Touch Payroll and Modernising the Business Registers program however most of her experience before coming to this role was in law advocacy and advice for Superannuation.
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[Missing OND] Advising Small Business Series: Managing Tax Audit Disputes
Thursday, 25 May 2023
Develop a deeper understanding of the tax dispute process including objections and appeals, identify the real reason for the audit, tips on how to keep the audit on track and deal with the tax office. Unpack 5 case studies of tax audits to identify issues that may arise and how to deal with them.
9.00am to 10.00am Lessons Learned from 15 Years of Dealing with Tax Audits, Objections and Court/Tribunal Appeals
- The tax dispute process and the role of each person in the chain
- Unearthing the real reason for the audit and addressing it
- The art of dealing with the “skeletons in the cupboard” during an audit
- Actively managing an audit to keep it on track and tips for where it stalls
- Practical challenges of how to get things done with the tax office
- Tactics used by tax auditors to determine a taxpayer’s honesty
- Dealing with difficult auditors: setting up the dispute for review
- What you don’t know that you don’t know about the process
- Using the audit process as an accounting opportunity
- The difference between the way audits are conducted, vs objections, vs AAT and what the reviewer in each review stage is looking for
Description
Attend and earn 2 CPD hours in Technical Competence
This program is applicable to practitioners from all States & Territories
10.00am to 11.00am Case Studies: Identify The Issues and Lessons Learned
- Unpack 5 case studies of tax audits to increase your ability to identify issues prior to an audit and influence the path of the audit.
Presented by Adam Ahmed, Principal, Adam Ahmed & Co; Solicitor and Chartered Accountant; Author, International Tax, Deductions and Assessable Income (Thomson Reuters)
Presenters
Mr. Adam Ahmed, Principal, Adam Ahmed & CoAdam is a dual-qualified solicitor and chartered accountant specialising in tax and contracts. Adam regularly advises clients on tax audits and disputes and is able to assist on both the accounting and legal side, achieving significant reductions in tax liabilities. Adam has also acted for taxpayers in the Federal Court and the Administrative Appeals Tribunal. Recently, Adam has become a thought leader on cryptocurrency, superannuation and tax disputes and settlements with the ATO. Adam also specialises in tax advice, including applying for private rulings. Being dual-qualified, Adam can ensure that the tax advice has the relevant supporting documentation (contracts) and is appropriately reflecting in tax returns and filings. Adam previously worked at senior levels in Allens Linklaters and KPMG before commencing practice in 2012. Adam was the founder and chair of the tax law committee of the law society (young lawyers) and also served as treasurer of the law society (young lawyers) and executive council member. Adam is also a published author for Thomson Reuters, his works include International Tax, Deductions and Assessable.
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Advising Small Business Series: Personal Liability of Directors for Financial Liabilities
Thursday, 8 June 2023
A timely reminder of the personal liability that directors of a company may encounter when their company fails and what you should be aware of when advising your clients to minimise their personal exposure.
11.00am to 12.00pm Personal Liability of Directors for Financial Liabilities: What You Need to Consider when Advising Your Clients
- Personal liability of directors for unpaid company taxes
- Personal liability of directors for unpaid company superannuation
- Nature of the personal liability owing to the ATO
- Personal liability under the Corporations Act when a company fails, including:
- Insolvent trading
- Anti-phoenixing provisions
- Breach of directors duties
- Exposure under personal guarantees
- Personal guarantees and risks to the family home under charging clauses
- Personal guarantees provided for building companies
- Director/shareholder loan accounts
Presented by Dino Travaglini, Director, Travaglini Corporate Advisory
Description
Attend and earn 1 CPD hour in Technical Competence
This program is applicable to practitioners from all States & Territories
Presenters
Mr. Dino Travaglini, Director, Travaglini Corporate AdvisoryDino is a director of Travaglini Corporate Advisory, a boutique chartered accounting and corporate advisory firm which specialises in advising distressed businesses and debt restructuring. His career spans over 30 years, as a registered liquidator and trustee in bankruptcy acting in formal corporate and personal insolvency administrations and corporate restructure. Most of which was as a partner or principal with national chartered accounting and restructure firms, Moore Stephens, Grant Thornton and Cor Cordis. Relevant to today’s presentation, his work requires him to understand the businesses, and their financial position, including professional services practices.
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