Professional Skills
How to Identify Potential Tax Issues: A Forensic Accountant’s Perspective
- Review of profit and loss accounts and balance sheets:
- Loans to shareholders and trust beneficiaries and their prospective discharge
- Unpaid present entitlements due to a company
- Embedded capital gains - recognised and unrecognised
- Valuations of other assets – stock, plant etc
- Franking credits and prospective tax on company retained earnings
- Tax losses, future income tax benefits and deferred tax liabilities
- Consideration of accruing tax liabilities on past, current and future income until settlement; lodgment of tax returns
- Tax implications vs valuation implications of undisclosed income
- Issues to be considered in drafting orders:
- removal of one spouse as a trust beneficiary
- availability of rollovers
- importance of identifying ownership
- consideration of Division 7A / deemed dividends
Presented by Trevor Vella, Principal, Trevor Vella & Co; Chartered Accountant, Valuer and Forensic Accountant
Description
Attend and earn 1 CPD hour in Professional Skills
This program is applicable to practitioners from all States & Territories
* This interactive online recording includes questions and quizzes requiring critical thinking about the topics, so you have no annual limits to the number of points/hours you can claim with this format of learning. Please verify with your CPD rules
Chair
Maurice Edwards, Special Counsel, Rafton Family Lawyers & Rafton Arbitration and Mediation Practice (RAMP) Leader; Accredited Specialist in Family Law; Nationally Accredited Mediator AIFLAM; Accredited Arbitrator Family Dispute Resolution Practitioner (FDRP)
Presenters
Trevor Vella, Director, Trevor Vella & Co
"Trevor Vella holds a degree in Economics from the University of Sydney (1973), an Honours degree in Law from the University of Technology, Sydney (1986), and the degree of Master of Business (Banking and Finance) from the University of Technology, Sydney (1995). He was admitted to the Roll of Solicitors of the Supreme Court of New South Wales in 1989. He is a member of the Institute of Chartered Accountants in Australia, the Law Society of New South Wales and the Taxation Institute of Australia. Trevor currently holds the position of Director of Valuation Services with Horwath Investment Services Pty Limited. He has extensive experience in the preparation of expert reports in connection with the acquisition of companies, shares and businesses. He is an authorised representative of Horwath Investment Services Pty Limited pursuant to its Dealers Representative Licence held under Part 7.2 of the Corporations Act. Trevor also has extensive experience in the preparation of expert reports and the giving of expert oral testimony in various courts in relation to valuations of businesses and companies, and the assessment of damages. He is the co-author of the first seven editions of the text entitled Australian Revenue Law CCH Australia Limited) originally published in 1987 and now in its 11th Edition, one of the leading publications in the tax field."
Maurice Edwards, Special Counsel, Rafton Family Lawyers
Maurice Edwards is an Accredited Family Law Specialist (NSW Law Society) a Registered Family Dispute Resolution Practitioner (FDRP), a Nationally Accredited Mediator (NMAS) and an Accredited Family Law Arbitrator (AIFLAM) and a Collaborative Family Lawyer. Maurice has recently been elected as the NSW representative to the board of the Australian Institute of Family Law Arbitrators and Mediators (AIFLAM). As the RAMP leader he heads a team of mediators, arbitrators, FDRP’s and parenting coordinators and conflict coaches dedicated to providing easy access to a family law resolution. Maurice has a special interest and has presented at seminars and conferences on the Hague Child Abduction and Child Protection Conventions, Binding Financial Agreements, Childhood Gender Dysphoria and on various forms of dispute resolution including collaborative law, mediation and arbitration. He has been working in the family law space for over 40 years.
