Trusts updates. nov dec 2011
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Andrew Lovett brings updates on trusts in plain English. TFN withholding and reporting, streaming of capital gains and franked dividends, rules getting tougher on trusts.
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This document discusses trust companies serving as agents for executors, powers of attorney, and trustees. It outlines the duties of executors, trustees, and powers of attorney. As an agent, the trust company can take on responsibilities like safekeeping assets, coordinating probate applications, tax reporting, distributions, and more. Hiring a trust company provides benefits like experience, impartiality to minimize family conflicts, and ensuring professional administration.Hill Rogers - Tax Risks and Opportunities in the NFP Sector
This document discusses tax risks and opportunities for not-for-profit organizations. It notes that while NFPs receive certain tax concessions like income tax exemption, GST concessions, and FBT concessions, maintaining eligibility for these requires regular reviews of an organization's structure and activities. The document provides an overview of key tax compliance responsibilities for NFPs and recommends undertaking a tax health check to ensure all available concessions are being utilized. It also outlines factors that could attract attention from the ATO and what to expect and prepare for if an organization is selected for an ATO review.
2017 Dean-Willcocks Advisory Presentation | Minimising exposure of profession...
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Why a Group RRSP?
Turenne Joseph is a financial advisor who is promoting group RRSPs. Some key benefits of group RRSPs include tax deferral, lower costs, professional management, flexibility, and portability. Contributions provide an immediate tax reduction and the power of compound returns can significantly grow savings over time. Group RRSPs also restrict early access to funds, allowing savings to be used at retirement. Interested individuals can contact Turenne Joseph to learn more and start contributing as little as $50 per month.
Bar Practise Course Practice Management
This document summarizes a presentation for barristers on running a business as a barrister. It covers topics like understanding business structures, accounting and invoicing, tax obligations, using debt, budgeting and cash flow management, asset protection, estate planning, retirement planning, and getting the right professional team. It provides an agenda and discusses concepts like understanding different entity structures, accounting on a cash basis, personal income tax rates, timing of tax obligations, using good versus bad debt, preparing budgets and cash flows, and leveraging structures like superannuation and trusts to protect assets and plan for retirement.
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This document summarizes the 2014 tax update and hot topics presented by Drew Rogers, CPA. It discusses the impact of 2013 tax law changes such as rate increases and limitations on deductions. For businesses, it covers expiring tax provisions, deductions, and credits. It also discusses entity choice, multistate planning, and exit planning strategies. For individuals, it summarizes rate schedules and provides planning tips for items like the Net Investment Income Tax, deductions, charitable giving, and the Alternative Minimum Tax. The presentation concludes with an overview of South Carolina tax credits that may provide benefits.
Tax Planning Update: Client CPE Day 2013
Tax Planning Update by Tracy Monroe, CPA. Presented at Cohen & Company's Client CPE Day. Covers business as well as individual tax updates.
www.cohencpa.com
Changing Face of SMSFs - December 2013
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It’s tax time again, but MaRS Best Practices series has great news for startups and entrepreneurs! There is a wide range of business incentives available to offset various expenses incurred by entrepreneurial companies, from startups to established companies exporting products or services.
In this session, Welch’s Business Incentives leader, Terry Lavineway, will describe the process that entrepreneurs should employ when identifying and leveraging these incentives and an approach that can maximize access to this source of capital. He will provide detailed information on some of the more significant incentives available, including scientific research and experimental development (SRED) and digital media refundable credits.
Additionally, Bryan Haralovich, Welch’s Technology Service Sector leader, will provide an overview of the income tax compliance requirements imposed on entrepreneurs. This includes what must be filed, the timing of filings and the information required to complete the filings. He will address tax tips such as corporate structure, shareholder planning, international tax considerations and exit planning.
SMSFs – are you suited to managing your own super?
First of our 4 part series on using Self Managed Superannuation Funds as part of your Wealth and Retirement Planning.
this is the introduction to SMSF and why and how to use them as well as the respobsibilities and some tips and traps to avoidT
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Trust Companies as Agent for Executors, Power of Attorneys & Trustees
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2017 Dean-Willcocks Advisory Presentation | Minimising exposure of profession...
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Operating System Used by Users in day-to-day life.pptx
Dive into the realm of operating systems (OS) with Pravash Chandra Das, a seasoned Digital Forensic Analyst, as your guide. 🚀 This comprehensive presentation illuminates the core concepts, types, and evolution of OS, essential for understanding modern computing landscapes.
Beginning with the foundational definition, Das clarifies the pivotal role of OS as system software orchestrating hardware resources, software applications, and user interactions. Through succinct descriptions, he delineates the diverse types of OS, from single-user, single-task environments like early MS-DOS iterations, to multi-user, multi-tasking systems exemplified by modern Linux distributions.
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Letter and Document Automation for Bonterra Impact Management (fka Social Sol...
Sidekick Solutions uses Bonterra Impact Management (fka Social Solutions Apricot) and automation solutions to integrate data for business workflows.
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This video focuses on automated letter generation for Bonterra Impact Management using Google Workspace or Microsoft 365.
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Trusts updates. nov dec 2011
- 1. Trusts Updates from 2011 www.lovetts.com.au
- 2. Disclaimer The information contained in this presentation is for guidance only and should not be relied upon without obtaining professional advice having regard to your direct circumstances. No responsibility for loss occasioned directly or indirectly to any person acting or refraining from acting wholly or partially upon or as a result of the material in this presentation or for any error in or omission from this presentation can be accepted by the publisher or any author, editor, contributor or consultant of any company referred to herein.
- 3. Trust topics • TFN withholding tax and TFN reporting • Streaming of capital gains and franked dividends
- 4. TFN withholding and TFN reporting • Trustee obliged to request TFN and personal data before paying distribution • Trustee obliged to withhold tax where distribution paid and beneficiary not quoted TFN and personal data • Trustee obliged to lodge TFN report by 28 July, Jan, April or July (similar to date for super contributions) • Quarterly reporting requirements started this year
- 5. Streaming of capital gains and franked dividends • Changed rushed through – royal assent 29 June • Streaming where a trust divides its income into components (dividends, capital gains, foreign income etc) and distributes most tax effectively • e.g. Individuals receiving capital gains and accessing 50% discount • Change purportedly to help taxpayers? • Cases that cast doubt on streaming – ATO interpretation • Applies to capital gains and franked dividends • Requires beneficiaries specific entitlement to be recorded in minutes by certain dates – effectively distribution minutes need to be done by 30 June
- 6. Recommendations Trusts • Have your tax agent report TFN and details to Tax Office • Distribution minutes done by 30 June particularly for capital gains • Investment agreements and sub-trusts in place for company distribution entitlements
- 7. SAVE TAX, GROW BUSINESS, GENERATE CASH FLOW, PLAN SUCCESSION & PROTECT ASSETS www.lovetts.com.au facebook.com/pages/Lovetts/191722257531010 twitter.com/AndrewLovett linkedin.com/company/Lovetts andrewlovett.tumblr.com