TaxBanter 2020 Special Topics.

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