Knowledge Shop PD

In this session we bring you up to date with the latest tax developments.

We will delve into the ATO's updated approach to the treatment of self-education costs, bringing you up to speed on what can and can't be claimed as a deduction and the process that needs to be followed to figure out the tax treatment.

We explore the practical application of the ATO's final ruling on the tax treatment of holding costs relating to vacant land. We look at opportunities for maximising deductions and scenarios where clients might not be able to claim deductions for the expenses they are incurring in relation to land.

We also take a look at the ATO's latest guidance on the technology investment boost, clarifying some of the key issues that practitioners have been grappling with in connection with this popular incentive.

With Michael Carruthers
Tax Director
(Sydney, Melbourne & online)

With Rae Ni Corraidh
Tax Adviser
(Brisbane)

There have been significant changes to the treatment of depreciating assets over the last few years, with changing cost thresholds for immediate deductions through the simplified depreciation provisions and for medium sized business. With the ending of temporary full expensing and the new $20,000 instant asset write-off for small business entities, this remains a complex area for practitioners and their clients.

This session will look at the tax implications of the end of the temporary full expensing provisions, the impact when clients later dispose of those depreciating assets, and the impact of ending the suspension of the ‘lock out rules’ under the simplified deprecation provisions which will have more relevance for SBE taxpayers for the 2024 and later tax years.

With Michael Carruthers
Tax Director
(Melbourne)

With Rae Ni Corraidh
Tax Adviser
(Sydney, Brisbane & online)

In this session we will discuss the options available to the ATO for non-complying SMSFs. Many accountants believe the ATO’s only option for SMSF breaches is to apply non-complying status to the fund, that is not the case. We will cover what penalties can be applied to the fund and trustees. Plus, share some of our experiences, to help you identify the best way to approach delinquent SMSFs with the ATO to achieve a favourable outcome for your client.

We will also look at the draft legislation for the $3M superannuation tax. How the tax is calculated and what clients will be captured by the new tax. We will work with some examples to highlight potential options for clients that will be affected and identify any retirement planning issues.

With Natalie Scott
Superannuation Adviser
(Sydney, Melbourne & online)

With Chloe Foster
Head of Wealth Education and Professional Development
Diverger
(Brisbane)