An optional, temporary loss carry back for companies has been introduced by the Treasury Laws Amendment (A Tax Plan for the COVID-19 Economic Recovery) Act 2020, which received Royal Assent on 14 October 2020. The Act inserts new Div 160 into the ITAA 1997....
Tax Yak – a TaxBanter podcast.
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Tax Yak – Episode 30: Small business concessions review by the Board of Taxation
The Board of Taxation has been reviewing the range of Small business tax concessions; the final report is yet to be released.
In this episode of Tax Yak, Robyn yaks with Dr Mark Pizzacalla, Partner with BDO Melbourne and a member of the Board of Taxation, who has been leading the Board’s review of the concessions. They discuss the scope of the review and feedback from stakeholders, reflect on some of the small business concessions and consider how tax policy could be designed in the future.
Host: Robyn Jacobson
Guest: Mark Pizzacalla, Member of Board of Taxation, Partner @ BDO
Board of Taxation ‘sounding board’
Recorded: 18 September 2019
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Tax Yak – Episode 29: Insolvency Insights
The world of an insolvency practitioner differs from the typical tax practitioner, but their worlds often encroach on each other.
In this episode of Tax Yak, Robyn yaks with Robyn Erskine, Partner with Brooke Bird, about her extensive experience over more than over 30 years in assisting individuals facing personal bankruptcy and guiding companies through receivership, administration and liquidation. They discuss some of the economic trends which drive insolvency work, the Government’s policies which deal with phoenix operators and the ATO’s approach to outstanding tax debt.
Host: Robyn Jacobson
Guest: Robyn Erskine, Partner, Brooke Bird
Recorded: 4 September 2019
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Tax Yak – Episode 28: Perspective from the Tax Practitioners Board
The Tax Practitioners Board has made no secret of the fact that it is targeting agents who are failing in their obligations under the Tax Agent Services Act 2009.
In this episode of Tax Yak, Robyn yaks with Greg Lewis, Board Member of the TPB about the Board’s focus on agents with concerning behaviour, such as insufficient CPD or insurance, over-claiming WREs for clients and a failure to meet their personal tax obligations. They discuss some of the positive trends emerging from the TPB’s compliance focus, and the challenges facing the tax profession.
Host: Robyn Jacobson
Guest: Greg Lewis, Member of the Tax Practitioners Board
Factsheet: Information for clients
Recorded: 4 September 2019
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Tax Yak – Episode 27: Family Law
Family law is an intrinsic and unavoidable part of modern living and relationships. How does family law interact with tax law?
In this episode, Robyn yaks with Sarah Keenan, Director at Farrar Gesini Dunn, who specialises in family law, estate disputes and wills about the tax issues associated with family law settlements, the control of marital assets and entities, dividing superannuation and her experiences with family law litigation.
Host: Robyn Jacobson
Guest: Sarah Keenan, Director, Farrar Gesini Dunn
Recorded: 23 August 2019
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Tax Yak – Episode 26: Litigation
The world of tax litigation can be complex, intimidating and costly for taxpayers. In this episode of Tax Yak, Robyn yaks with Julianne Jaques, Barrister at the Victorian Bar, and member of the Board of Taxation and the Tax Practitioners Board, about her experiences on both sides of the court room, representing both taxpayers and the Commissioner. They also discuss lessons for practitioners.
Host: Robyn Jacobson
Guest: Julianne Jaques: Barrister; member of the Board of Taxation; member of the Tax Practitioners Board
Board of Taxation ‘sounding board’
Recorded: 13 August 2019
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Tax Yak – Episode 25: Issues affecting regional practitioners
Regional practitioners have different challenges to those faced by urban- or city-based practitioners. In this episode of Tax Yak, Robyn yaks with fellow TaxBanter trainer, Leanne Saunders, about:
- the challenges that confront regional practitioners;
- the tax issues that regional practitioners commonly encounter;
- how regional practitioners keep up to date with their skills and knowledge; and
- the increasing dependency on connectivity to comply with tax obligations.
Host: Robyn Jacobson
Guest: Leanne Saunders, Senior Tax Trainer, TaxBanter
Recorded: 15 July 2019
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Tax Yak – Episode 24: Managing tax risk
Today’s business environment is complex and managing your tax risk is a core part of responsibly managing your business. Managing task risk involves far more than dealing with ATO audits. Regardless of the size of your business, tax risk impacts on every aspect of a business either directly or indirectly, it permeates all phases of a business’s decision making process and can affect its commercial success.
In this episode of Tax Yak, Robyn yaks with ATO Assistant Commissioner – Private Wealth, Anna Longley, about the key areas that attract the ATO’s attention and how businesses and individuals can minimise their tax risk.
Host: Robyn Jacobson
Guest: Anna Longley, ATO Assistant Commissioner – Private Wealth
Link: New Information System Risk Assessment tool (ISRA)
Recorded: 11 July 2019
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Tax Yak – Episode 23: Small business conversation with the ATO
There are more than 3.8 million small businesses in Australia, accounting for 33% of Australia’s GDP, and employing over 40% of Australia’s workforce.
In this episode of Tax Yak, Robyn yaks with the ATO’s Deputy Commissioner – Small Business, Deborah Jenkins, about the ATO’s engagement with small business, the small business tax issues the ATO has identified, the role of tax agents, the Black Economy and the tools, products and services available to assist small business.
Host: Robyn Jacobson, Senior Tax Trainer, TaxBanter
Guest: Deborah Jenkins, Deputy Commissioner, Small Business, ATO
Twitter – @ATOSmallbizExec & @ato_gov_au
www.ato.gov.au/sbsupport
Recorded: 14 June 2019
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Tax Yak – Episode 22: Turning compliance water into consulting wine
How should a practice go about converting the staple annual compliance work into cash cow advisory work that is truly valued by clients?
In this episode of Tax Yak, Robyn yaks with Brent Szalay, Managing Director, SEIVA, about how his practice has successfully changed the lives of their business clients. The SEIVA philosophy is to make positive changes through designing a strategic plan and establishing a clear vision and purpose by working closely and regularly with their clients. Brent explains how starting a conversation on tax compliance serves as a base from which valuable strategic discussions can emerge.
Host: Robyn Jacobson, Senior Tax Trainer, TaxBanter
Guest: Brent Szalay, Managing Director, SEIVA
Recorded: 3 June 2019
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Tax Yak – Episode 21: Post-election perspective
What does the Coalition’s win in the Federal election mean politically and from a policy perspective? In this episode, our regular host Robyn Jacobson is the guest of host Michael Messner (via Skype from sunny Queensland), a fellow Senior Tax Trainer. Together, they discuss the implications of the Coalition’s return to Government, the long list of announced but unenacted measures, and practitioners need to look out for from 1 July 2019 and beyond.
Host: Michael Messner, Senior Tax Trainer, TaxBanter
Guest: Robyn Jacobson, Senior Tax Trainer, TaxBanter
Recorded: 27 May 2019
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