Dealing with the Profits of Professional Services Firms Webinar

Latest ATO guidance and key risk areas

Recorded 8 August 2020

Individual Recording

FPA accreditation: 22926
Total CPD hours: 1.50
1.00 Regulatory compliance & consumer protection
0.50 Technical competence

ATO guidance on allocation of profits for the 2019 income year
When income splitting and retaining profits is acceptable
What causes a Part IVA problem

In recent years, the ATO has signalled its clear intention to delve into arrangements and business structures commonly used by accountants, lawyers, medical practitioners and other professionals. The ATO is specifically concerned with professional practices operating through trusts, companies and partnerships of discretionary trusts and how the profits from these practices are being taxed.

Professional firms have been put on notice that Part IVA could potentially apply depending on how profits of the firm are dealt with.

This exceptional webinar explore what you can and can’t do if you want to stay under the radar in light of the ATO’s latest guidance in this area.

Member Recording 
Individual Recording
Office Recording

What we cover

This practical webinar covers:

  • Determining whether income is derived from personal services or from a business structure
  • Latest ATO guidance on allocating profits for the 2020 year and how this is likely to change for the 2021 year
  • What can and can’t be done when the PSI tests are passed

  • Why using a partnership structure can change the tax outcome
  • Step by step guide to staying under the Part IVA radar
Member Recording 
Individual Recording
Office Recording

Our Presenter

Michael Carruthers

Tax Director, Knowledge Shop

Michael oversees the development of the tax team for Knowledge Shop and Hayes Knight in Sydney and is head of the Easton group’s national tax committee.

Michael has a knack for seeing through the complexity and helping practitioners work through highly technical issues with certainty and accuracy.

Michael is a member of the advisory panel for the Board of Taxation and was a member of the reference group for the Board’s review of small business concessions.

He was also an expert panel member for the Board’s review of tax impediments facing small business.

Michael Carruthers
Michael Carruthers
Tax Director, Knowledge Shop



$195 Member
$235 Non-member



$350 Member*
$390 Non-member*


*The office rate applies per office location (maximum temporarily increased to 20 participants per office location). The PD points for all attendees will be recognised.

How to access the recording

  1. Knowledge Shop members, access your discounted pricing by logging into the Knowledge Shop member website and registering. More on membership.
  2. For Individuals:
    • Register and we will email you your access details to Knowledge Shop's IQ platform (generally within 24 - 48 hours).
    • Your recording and any successive recordings you purchase will display on your personal profile.
  3. For Offices (access for up to 20 individuals from the same firm): 
    • Register and we will contact you to organise login details for your nominated staff members (generally within 24 - 48 hours).
    • You can also nominate a supervisor from your firm who will be able to see who has completed the webinar and where applicable, their quiz scores.
  4. Your recording will be available for 3 months from the date of purchase and can be viewed as many times as the registered person likes within those 3 months. Once watched, your PD hours will be recorded on the personal profile of the participant. 

Terms & Conditions 
All registrations to Knowledge Shop events are subject to our terms and conditions which include a cancellation policy. No refunds are available for webinar recordings once the Knowledge Shop IQ platform has been accessed. Refunds are only possible if the webinar recording has not been accessed.