Important notice - COVID-19 update

TaxBanter 2020 Special Topics.

Our Special Topics are practical yet detailed analyses of topical areas of tax law or practice.

January: PAYG revisited

  • When the Tax Law requires a withholding from a payment
  • When and how a rate of withholding can be varied and the penalties for getting it wrong
  • When a taxpayer must pay income tax by instalments
  • When and how instalments can be varied
  • Penalties for shortfalls on assessment

Registrations opening soon.

February: Employment termination payments

  • Types of employment termination payments (ETPs)
  • The tax treatment of ETPs
  • Eligibility conditions for genuine redundancy payments
  • The applicable caps e.g. the ETP caps amount, whole-of-income cap

Registrations opening soon.

March: Employee share schemes

  • Rules governing employee share schemes
  • Taxation implications for employer and employees
  • Qualifying for the tax concessions
  • Employer reporting obligations

Registrations opening soon.

April: Division 7A – the state of play

  • The progress of proposed reforms
  • Re-visiting complying loans
  • Remembering what we thought we understood at the time
  • The available guidance from the Courts

May: ATO access powers

  • The scope and breadth of the Commissioner’s access powers
  • How the ATO obtains meta-data, e.g. e-tag, passport and mobile phone records
  • The ATO’s use of Big Data and data analytics
  • Data-matching projects e.g. insurance, cryptocurrency

June: Relevance of accounting treatment for tax purposes

  • The interaction of the accounting and tax treatment of some common transactions
  • Judicial guidance on relevance of accounting treatment
  • The limited power of the journal entry
  • The importance of accounting and other records for tax purposes

July: CGT event E4

  • When CGT event E4 happens
  • CGT consequences of receiving a non-assessable trust distribution
  • Calculating the amount of the non-assessable part that affects cost base of an interest
  • Some worked examples

August: Taxing expatriates

  • Income tax residency rules in light of recent developments
  • Australian income tax implications of:
    • ceasing to be a resident of Australia
    • continuing to be a resident but deriving foreign source income
  • Calculating foreign income tax offsets
  • Expatriates with entitlements in Australian superannuation

September: Trust or company

  • The treatment of income and losses — a comparison of company and trust
  • Preferred structure for business or investment activities
  • Effect of base rate entity rules and consequences for franking of dividends
  • Trust distributing to corporate beneficiary versus Company owned by a discretionary trust

October: Loss or destruction of business assets

  • Income tax and CGT and consequences of a loss or destruction of an asset that is:
    • a CGT asset
    • a depreciating asset
    • trading stock:
  • Income tax, CGT and GST consequence of receiving insurance proceeds or a replacement asset

November: Liquidation and administration of companies

  • The difference between administration and liquidation
  • Consequences for the company
  • Taxation implications of a liquidator’s distribution

December: Personal services income revisited

  • Personal services entities and working out whether the income is PSI
  • The limitations on eligible deductions of a personal services entity
  • Personal services businesses and income splitting
  • Reporting obligations