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SME TAX SYMPOSIUM
Thursday 19 and Friday 20 November 2015
Doltone House Hyde Park
taxinstitute.com.au
Proudly sponsored by:
2 - THE TAX INSTITUTE - SME Tax Symposium
WELCOME
SME Tax Symposium
We have listened to what it is t...
THE TAX INSTITUTE - SME Tax Symposium - 3
TECHNICAL PROGRAM
Event summary
Day one – Thursday 19 November 2015
Time Session...
4 - THE TAX INSTITUTE - SME Tax Symposium
TECHNICAL PROGRAM
Event summary
Day one – Thursday 19 November 2015 (cont)
Time ...
THE TAX INSTITUTE - SME Tax Symposium - 5
PRESENTER PROFILES
An overview of our experts
Jol Dare, CTA, is a Tax Partner of...
6 - THE TAX INSTITUTE - SME Tax Symposium
FURTHER
INFORMATION
What, when and how to
Online registration
Delegates are enco...
Registration
Please see page 6 for registration inclusions.
Early bird full registration price (register on or before 23 O...
0112NSW_08/15
	 Payment method
Please note: all registration payments must be made prior to the event, unless other arrang...
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  1. 1. SME TAX SYMPOSIUM Thursday 19 and Friday 20 November 2015 Doltone House Hyde Park taxinstitute.com.au
  2. 2. Proudly sponsored by: 2 - THE TAX INSTITUTE - SME Tax Symposium WELCOME SME Tax Symposium We have listened to what it is that SMEs and their advisors need, and have developed this program just for you. The SME Tax Symposium offers you a great choice of sessions, showcases the best speakers and delivers extremely relevant topics. The program provides strong technical content along with practical and insightful guidance on SME tax issues. To really cement your learning, we have added two hands-on workshops to the program. Everything you need for the workshops will be presented on day one, so no annoying pre-reading is required! We are confident this year’s SME Tax Symposium will be a highly sought after and well received event. Registrations are now open! We look forward to seeing you there. Todd Want, CTA, William Buck NSW Scott McGill, CTA, Moore Stephens Sydney Co-Chairs, SME Tax Symposium Committee Thank you The Tax Institute gratefully acknowledges the generous assistance of members of the NSW Tax Symposium Organising Committee: Jol Dare, CTA, HLB Mann Judd Glen Hutchings, FTI, Australian Taxation Office Scott McGill, CTA, Moore Stephens Sydney (Co-Chair, Organising Committee) Simon Thorp, CTA, KPMG Lisa To, CTA, Bartier Perry Todd Want, CTA, William Buck NSW (Co-Chair, Organising Committee) Tristan Webb, CTA, Crowe Horwath
  3. 3. THE TAX INSTITUTE - SME Tax Symposium - 3 TECHNICAL PROGRAM Event summary Day one – Thursday 19 November 2015 Time Session Presenter 8.00am–8.30am Registration 8:30–8:35am Welcome Scott McGill, CTA NSW State Council Chair Moore Stephens 8.35am–9.30am Session 1: Preparing for the Grand Final - How to get a business ready for sale There are many obstacles to clear to get to the final. To execute the sale of a business well, it requires careful planning and sound tax strategies. Would your clients’ businesses be ready for sale if they had a knock on the door tomorrow? This session will look at: ƒƒ Smart ways to separate non business assets ƒƒ From a tax perspective, is there an optimal time to sell? ƒƒ Dealing with loans – forgive them? Convert them to equity? Do something different? ƒƒ Should SME’s be using demergers, consolidation, share buybacks, or capital reductions to clean things up? ƒƒ Is the intellectual property of an SME far more than just goodwill? Is this a bad thing? ƒƒ Some common issues that due diligence might cover (and how to prepare for them). Todd Want, CTA William Buck 9.30am–10.25am Session 2: Kicking the Winning Goal - Clever ways to structure the sale of a business In selling a business you don’t want to trip at the final hurdle. How can you not only avoid falling, but ensure you win by a record margin? This session will address: ƒƒ The decision to sell shares or sell assets – why is the decision far more difficult than most anticipate ƒƒ Can you implement some advanced planning for the small business CGT concessions? ƒƒ How to get the best out of the new earnout provisions ƒƒ Dealing with the sale process in a practical manner (including some of the thorny issues it throws up). Stuart Le Cornu, CTA Crowe Horwath 10.25am–10.45am Morning tea 10.45am–11.40am Session 3: Creative ways to structure the purchase of a business You think you have found a business that will be a winner well into the future. How do you give yourself and the business the best possible chance of success? The starting point is to make sure you have the right structures in place from the beginning. This session will help you work out what the ‘right’ structure is, by considering: ƒƒ Brand new measures and tactics to help buy an SME without incurring big due diligence costs ƒƒ Ways to self-insure your purchase using the new earn-out rules ƒƒ Using the ATO’s new “Due Diligence Initiative” to reduce tax risk ƒƒ Should you buy shares rather than assets in order to save costs - using reconstruction relief and consolidation to clean things up ƒƒ Set up a structure that allows for flexible distributions in the world after dividend access shares. Jol Dare, CTA HLB Mann Judd 11.40am–12.40pm Session 4: Have I inherited a tax mess? You have just taken on a client from another accounting firm and are looking at their current structure: ƒƒ Is the structure right? ƒƒ What tax issues might be lurking about? ƒƒ What should you look for? ƒƒ How do you fix existing problems, like existing Division 7A issues? Future small business CGT eligibility? ƒƒ Have you just inherited a problem you’re better off not touching? Scott Treatt, CTA Pitcher Partners 12.40pm–1.30pm Lunch 1.30pm–2.25pm Session 5: Is my client an accidental developer? It is increasingly common in the crazy Sydney property market for people to be approached by developers who wish to acquire/develop or joint venture their property. This creates a minefield of issues for the unwary: ƒƒ How much tax will you pay? Will it be capital or revenue? Are you a “developer”? ƒƒ What about CGT discount or main residence exemption? What else can you do? ƒƒ Straight sale? Partnership or Joint Venture? Development agreement? Do it yourself? ƒƒ Not just income tax! Don’t get caught with GST problems! ƒƒ Let’s not forget Land Tax and Stamp Duty. Scott McGill, CTA Moore Stephens
  4. 4. 4 - THE TAX INSTITUTE - SME Tax Symposium TECHNICAL PROGRAM Event summary Day one – Thursday 19 November 2015 (cont) Time Session Presenter 2.25pm–3.20pm OR Session 6A: My money’s in super, where will it go next? Often the talk is about getting money or assets into super, but what happens to it next? ƒƒ Should you make binding death benefit nominations? ƒƒ On death should it go to your estate? ƒƒ How can you manage or influence what a beneficiary of your estate does with the super balance? ƒƒ What are the best ways to deal with super when there are blended families? ƒƒ Would life be a whole lot easier if you just spent the lot? Chris Tsovolos, FTI Bartier Perry Session 6B: SMEs and international tax: Minefield or manageable? Increasingly SMEs are having international dealings or transactions, whether it is expanding operations offshore or transacting with other parties based outside of Australia. Large businesses may have the resources to adequately manage the tax issues associated with such dealings, but SMEs struggle (or just ignore the issues). This session will cover: ƒƒ What tax issues can arise for an SME in respect of expanding offshore? ƒƒ What are the tax planning opportunities that SMEs can use to enhance their business expansion? ƒƒ What safe harbours does the ATO offer to make compliance for SMEs easier with respect to dealings with foreign parties? Simon Thorp, ATI KPMG 3.20pm–3.35pm Afternoon tea 3.35pm–4.30pm OR Session 7A: Small business entities: The best thing since sliced bread? The government often trumpet all the benefits of being a small business, but it’s the advisors who are left to work through the details: ƒƒ What is a small business and are there different definitions? ƒƒ What opportunities are available to small businesses that medium/large businesses can’t access? ƒƒ How can a medium sized business structure some of their operations to be considered a small business? ƒƒ Will the benefits of being a small business result in a rise in contractors and what are the risks? ƒƒ Can passive investors get the benefits available to small businesses? Jo-Anne Hotston, CTA Bentleys Session 7B: What is the best way to reward and remunerate an SME employee? It’s hard enough for small businesses to recruit staff, but what’s the best way to reward and remunerate them? ƒƒ What should an SME or start-up with limited cash do to offer an attractive salary package? ƒƒ Should a business offer ordinary shares; or dividend access shares? ƒƒ How useful are bonuses or ‘phantom shares’? ƒƒ Can the new employee share rules for start-ups be used easily and effectively by any small business? ƒƒ Is it all just too hard? Albert Homarwijaya, KPMG 4.30pm Networking Drinks & Canapes Day two – Friday 20 November 2015 Time Session Taking on board the needs of SME practitioners, we have designed this second day of the SME Tax Symposium to build on your knowledge in a workshop style environment, facilitated by tax practitioners. Often workshops require pre-reading or preparation, but not these ones! If you attend day 1 of the SME Tax Symposium, you’ll be equipped with all the skills and knowledge needed to participate in, and learn from, the workshops on day 2.
  5. 5. THE TAX INSTITUTE - SME Tax Symposium - 5 PRESENTER PROFILES An overview of our experts Jol Dare, CTA, is a Tax Partner of HLB Mann Judd (NSW) where he specialises in helping corporate and SME clients and their advisors. Jol has significant experience in SME restructuring, practically assisting small businesses to manage their tax risk and opportunity, and realise their highest value at sale. Jol is a regular presenter for The Tax Institute’s Morning Tax Club and Tax Forum. Jo-Anne Hotston, CTA, is a Director of TaxBytes, a specialised tax training business. She is also a Tax Director of Bentleys NSW. Jo-anne is a Fellow of the Institute of Chartered Accountants and a Chartered Tax Adviser of The Tax Institute, and holds a Masters of Taxation from the University of Sydney. Jo-anne has been providing tax training to accounting and legal firms since 1994. She provides monthly tax training to a number of accounting firms throughout Australia from first tier down to smaller firms. Stuart Le Cornu CTA, has more than 15 years’ experience providing complex tax advice to clients at Crowe Horwath. He works with a diverse client base that includes high net wealth individuals, trusts, large private and foreign-controlled entities spanning a variety of industries. Stuart helps clients with all areas of income tax, GST, FBT and superannuation. He also provides specialist advice in applying CGT concessions for small businesses, ATO audits and risk reviews, creating tax-effective business structures, international taxation, and trust structures. Scott McGill, CTA, is a Partner at Moore Stephens Sydney where he focuses on taxation, business, structuring and succession issues for a wide range of clients. Scott also heads the property industry speciality in the Sydney practice working with small and large developers, retirement villages and aged care and investors. Scott has extensive experience in income tax, GST and state taxes from both his time in public practice as well as the ATO, and has a reputation for achieving commercial outcomes on complex issues. Simon Thorp, ATI, is a Partner at KPMG and leads their Technology, Media and Telecommunications tax practice. He has over 22 years’ experience working with a variety of inbound and outbound businesses. Simon regularly liaises with Treasury and the ATO in respect of industry and policy issues and is a member of The Tax Institute’s NSW Professional Development Committee. Scott Treatt, CTA, is the Head of Taxation in the Sydney office of Pitcher Partners. He has been practicing as a tax specialist since 1997 with clients predominantly in the SME market space. Scott provides services from advising on appropriate structures, dealing with private rulings and ATO tax audit matters, addressing taxation issues within the firm’s major transaction projects, its listed and foreign clients through to assisting the Private Clients Team with taxation issues on succession matters. Chris Tsovolos FTI, is an Executive Lawyer in the Private Client Services team of Bartier Perry. Chris has experience in providing specialist services to high net wealth individuals and privately held businesses in his core areas of practice, being taxation issues and appeals, superannuation structuring, estate and business succession planning and asset protection. Chris is a Fellow of The Tax Institute and an Accredited Advisor with Family Business Australia. Todd Want, CTA, brings over 10 years of experience to his role as a Director in the Tax Services division at William Buck. Todd specialises in small-to-medium enterprise tax matters and advises clients on a broad range of tax issues such as capital gains tax, advice relating to structuring and restructuring, the tax consequences of acquisitions and divestments, small business CGT concessions, Div 7A, taxation of trusts and tax risk management. Todd also provides specialist tax consulting and training services to accountants in public practice, lawyers, financial planners and other professionals to assist them in advising their clients. Time Session 8.30am–10.00am Workshop 1: Capital/Revenue distinction – where are we at? Through use of practical examples in both property and non-property situations, this workshop will seek to extract and explore the key principles of revenue versus capital, including some of the grey areas of mere realisation versus profit making undertaking versus business. The workshop will also consider whether the size of the operation, the taxpayer involved, the type of entity ownership or business relationships are relevant. This workshop will follow similar concepts to those covered at the 2014 National Tax Intensive Retreat in Noosa. 10.00am–10.30am Morning tea 10.30am–12.00pm Workshop 2: Buying and selling a business This workshop will build on the aspects of buying and selling a business as explored during day 1 of the SME Tax Symposium. In particular it will: ƒƒ Work through some of the careful planning required to achieve the desired tax outcomes on the sale of an SME; ƒƒ Look at how to implement some sound tax strategies; ƒƒ Consider structuring issues; and ƒƒ Look at ways of managing potential conflicts between what a seller is wanting to achieve and what a purchaser is wanting to achieve. Day two – Friday 20 November 2015 (cont)
  6. 6. 6 - THE TAX INSTITUTE - SME Tax Symposium FURTHER INFORMATION What, when and how to Online registration Delegates are encouraged to register online at taxinstitute.com.au/2015NTS. Early bird registration All registrations received and paid for on or before Friday 23 October 2015 will be entitled to an early bird discount. Full Registration This registration option entitles one delegate to attend a full day of technical sessions and includes refreshments during conference hours. Select your session choices on the registration page. Papers The Tax Institute understands the impact that an event of this nature has on the environment, especially when printing delegate materials. Full technical papers and PowerPoint presentations will be available online to all participating delegates to download approximately five days before the event. Once these are available an email will be sent to delegates with access details. Tax Forum app The Tax Forum app will be available for download 1 week prior to the event. The app will contain session and speaker information, the delegate list and available technical materials. You will receive instructions via email detailing how to download the app. Employer Ticket For employer tickets, the names of all attendees and the sessions they will be attending must be submitted on the employer ticket registration form. A confirmation letter for each attendee will be emailed to the employer ticket coordinator. For an employer ticket registration form, please call 02 8223 0040. Group discount Purchase three full conference registrations and receive the fourth registration free. All attendees must be from the same firm and all registration forms must be submitted at the same time. Confirmation of registration A confirmation letter and tax invoice will be sent via email. Delegate list A delegate list will be included in the conference folder to assist with networking. Please indicate on the registration form if you do not want your name included on the list. CPD accreditation Attendance at the conference counts for 10 structured hours of Continuing Professional Development Accreditation (CPD) with The Tax Institute. Venue Doltone House Hyde Park Level 3, 181 Elizabeth Street, Sydney NSW 2000, Tel: 02 8571 0622 This new meeting and events venue boasts 5 metre high ceilings with an abundance of natural light via floor to ceiling spectacular windows and uninterrupted views of Sydney’s Hyde Park, directly adjacent to the 5 star Sheraton on The Park Hotel. It is superbly located within a prestigious sector of Sydney’s CBD precinct and exclusive retail outlets. Getting there The venue is located within the centre of Sydney CBD and is approximately 2 minutes’ walk from St James train station. The venue is easily accessible via other transport options and there are many car parking stations located nearby. Dress code Business casual attire is suitable for the duration of the conference. Parking Sydney Hilton Hotel Carpark: 255 Pitt Street Sydney NSW 2000 Weekday all day. Enter after 4am & Exit before 4am next day. Rate is $40* Alteration and cancellation policy The Tax Institute reserves the right to alter, amend or cancel all or any of the arrangements contained in the program. It is a condition of acceptance of registration that an administration fee of 20% of the registration fee will be charged for cancellation. No refund will be given for cancellations received within five working days of the event. A replacement may be nominated; however, the replacement is only valid for the 2015 SME Tax Symposium. If the replacement is not a member, the non-member registration fee will apply. CPD hours will be allocated to the designated attendee. The Tax Institute cannot accept responsibility for delegates’ late transport arrivals or non-arrivals due to delays. Become a member There is no time like the present to join Australia’s leading educator and professional association in tax and take advantage of the special new member introductory offer. For an additional $150 on the member registration fee you can become a member and gain access to “the mark of expertise” (membership is extended until 30 June 2016) and a two-week trial to the Tax Knowledge eXchange. Member benefits include: ƒƒ Taxation in Australia journal ƒƒ TaxVine e-newsletter ƒƒ TaxLine Research Service – free to members ƒƒ CPD event discounts ƒƒ Publications and tax product discounts ƒƒ Business Alliance Partner discounts. The Chartered Tax Adviser Program Developed to enhance the performance of all tax professionals, the Chartered Tax Adviser Program is the industry’s choice for innovative tax education and training. The Institute offers three formal education courses to support tax professionals throughout their career – CTA1 Foundations, CTA2 Advanced and CTA3 Advisory. Visit taxinstitute.com.au/education for more information or call us to discuss your firms training needs on 02 8223 0032. Enquiries For further information regarding this event, please email nsw@taxinstitute.com.au. For registration enquiries, please contact eventregistrations@taxinstitute.com.au.
  7. 7. Registration Please see page 6 for registration inclusions. Early bird full registration price (register on or before 23 Oct 2015) The Tax Institute member full day $795 The Tax Institute member full day plus workshops $995 Non-member full day $895 Non-member full day plus workshops $1295 New member* (full day) $945 Order Papers $50 Total $___________ Standard full registration price (register on or after 24 Oct 2015) The Tax Institute member full day $895 The Tax Institute member full day plus workshops $1195 Non-member full day $995 Non-member full day plus workshops $1395 New member* (full day) $1045 Order Papers $50 Total $___________ Breakout session selection Please tick the breakout sessions you would like to attend during the conference: Thursday 19 November 2015 2.25pm–3.20pm Session 6A: My money’s in super, where will it go next? Session 6B: SMEs and international tax: Minefield or manageable? 3.35pm–4.30pm Session 7A: Small business entities: The best thing since sliced bread? Session 7B: What is the best way to reward and remunerate an SME employee? Register Online or email Save time, register online at taxinstitute.com.au or email eventregistrations@ taxinstitute.com.au Mail GPO Box 1694 Sydney, NSW 2001 Fax 02 8223 0077 REGISTRATION FORM Please photocopy the blank form for additional delegates. All prices quoted include GST. ABN 45 008 392 372 PLEASE PRINT IN BLOCK LETTERS. SME Tax Symposium | 19 and 20 November 2015 2151026M1/BM *SPECIAL NEW MEMBER OFFER The new member registration fee includes fees for Affiliate level membership of The Tax Institute so that you can take advantage of the many benefits membership affords. Membership is extended until 30 June 2016. Please read and sign below to take up membership. Declaration I hereby apply for membership of The Tax Institute. I declare I am a person of good fame, integrity and character and agree to be bound by the Constitution of the Tax Institute. For more information on membership visit taxinstitute.com.au. *Signature: Date: (*Please read and sign below) Your contact details Title: (Dr/Mr/Mrs/Miss/Ms/Other) First name: Last name: Member no: Postal address: Suburb: State: Postcode: Company: Position: Tel: Mobile: Email: Fax: Please tick this box if you do not wish your name to be included on the delegate list provided to all attendees for networking purposes. Payment details summary Registration fee $ Total payable $ Dietary requirements: Date of issue: 15 September 2015 I will be attending the networking drinks I will not be attending the networking drinks
  8. 8. 0112NSW_08/15 Payment method Please note: all registration payments must be made prior to the event, unless other arrangements have been made with The Tax Institute. Membership and education program promotion I am interested in becoming a member of The Tax Institute, please send me further details. I am interested in learning more about The Tax Institute’s education program, please contact me. Marketing and business alliance partner exclusions I no longer wish to provide my contact details to The Tax Institute’s contracted business partners. I no longer wish to receive marketing correspondence from The Tax Institute. We take your privacy seriously, and our policy can be viewed at taxinstitute.com.au/go/footer/privacy Replacements Please note: registrations for the event are not interchangeable but replacements are acceptable. Please notify us at least two days prior if you intend on sending a replacement. CPD hours will be allocated to the designated attendee. If the replacement is not a member, the non-member registration fee will apply. Cancellations The Tax Institute must receive cancellations in writing five working days prior to the seminar. No refund will be given for cancellations received within five working days of the event. A replacement may be nominated. Further details on The Tax Institute’s cancellation policy can be found at taxinstitute.com.au I enclose a cheque* for $ *Please make cheque payable to The Tax Institute in Australian dollars. Please charge my credit card $ Card type: AMEX Visa MasterCard Diners Card no. / / / Expiry date: Cardholder’s signature: Cardholder’s name: For further information regarding this event, please contact Tara Waters on 02 8223 0000 or email tarawaters@taxinstitute.com.au. For registration enquiries, please contact eventregistrations@taxinstitute.com.au. Embrace your digital tax world Join us on LinkedIn Join The Tax Institute group on LinkedIn to network and contribute to the group discussions and tax news. Follow us on Twitter Follow us @TaxInstituteOz for daily tax news, updates and tweets. Use #nextgentax to share your posts about the conference. Facebook Like us on Facebook for news, careers information and networking. Register and purchase online Save time – register online for CPD or purchase dedicated publications, DVDs and more at taxinstitute.com.au.   Visit our blog Get the latest industry news from the team at The Tax Institute by visiting our blog at blog.taxinstitute.com.au.   iCPD – online and interactive No matter where you are in Australia or the world, you can access seminars by The Tax Institute. These online and interactive seminars come complete with presenter, chairperson and discussion forum. Visit taxinstitute.com.au/icpd to find out more.   Tax Knowledge eXchange Subscribe and get access to Australia’s leading online database containing over 65,000 records including papers, presentations, podcasts and videos through the Tax Knowledge eXchange. Visit our website for details. Now includes up to 17 structured CPD hours. Visit the website for details. Conference App Instantly access conference details, scheduling, speaker biographies as well as available technical papers and presentations with the SME Tax Symposium mobile web application, suitable for your web-enabled smartphone or device. Visit the website taxinstitute.com.au/2015NTS for the download link. Available from November 2015.

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