Knowledge Shop PD Live Online

Tuesday, 25 August 2020

Member Register

Calling all Knowledge Shop members!

Join us online for this special member only event - everything you need to keep up to date and ahead of the game in 3 hours.

Who can attend?

Knowledge Shop PD is a member only event delivered quarterly. For this online event, four team members from member firms attend free.

Not a Knowledge Shop Member? Take a tour and see what's on offer!

Member Register

Live online
Tuesday, 25 August 2020

1:45 pm - 5:00pm AEST
12:45 pm - 4:00pm SA & NT
11:45 am - 3:00pm WA

3.5 PD hours (CPA), 3 active PD hours (ASIC, TPB TASA)

What we'll cover:

Missed past programs? Access the live recordings and the training materials on the member website.

Here's what we'll cover in this special 'social distanced' online edition:

Key Tax Developments

While the JobKeeper and cash flow boost schemes have soaked up a lot of attention in recent months, there have been a number of developments in other key areas that could impact on a range of clients.

 

In this session we bring you up to date with the latest ATO comments on the allocation of profits of professional firms and recent changes to the rules for testamentary trusts.

 

We also take a look at some recent cases that have made their way through the AAT and Federal Court dealing with common problem areas, including the treatment of home office costs, whether the ATO's approach to capital gains passing through discretionary trusts is correct and when losses on the sale of shares can be dealt with on revenue account.

 

1:45pm - 2.45pm (subject to change)

Register through the member website.

Register Member

Michael CarruthersWith Michael Carruthers
 Tax Director, Knowledge Shop

Managing your client's transfer balance account

The $1.6M transfer balance cap has been in place for a couple of financial years now and still causes a great deal of confusion within the profession.

In this session, we will cover when a debit or credit will or will not occur in the members transfer balance account. Plus highlight the impacts when a client in pension phase passes away, both when a reversionary or non-reversionary pension is in place. We will also cover common issues we see causing a member to exceed their cap and strategies to implement that can avoid these issues before they occur.

We will work through practical examples to demonstrate what transactions impact on an individual’s transfer balance account and how to ensure your client does not exceed the cap. These examples will show a rather complex area of the legislation in an easy to digest way.

2.50pm - 3.50pm (subject to change)

Register through the member website.

Register Member

Natalie ScottWith Natalie Scott
Superannuation Adviser,
Knowledge Shop

 

Forgiving debts during challenging times

The forgiveness of debt becomes increasingly common in challenging economic times. In this session, we work through the tax implications that can arise for both the lender and the borrower when debts are waived or forgiven or are left outstanding for an extended period of time.

 

For the lender, we look at when bad debt deductions can be claimed and the traps around claiming a capital loss. For the borrower, we look at when a forgiven debt becomes assessable and the adverse tax implications that could potentially arise under the commercial debt forgiveness rules.

 

Also, we navigate some of the other key tax implications that can arise when debts are forgiven or  remain outstanding such as GST adjustments, Division 7A issues, FBT on employee loans and the value shifting rules.

 

3.55pm - 4.55pm (subject to change)

Register through the member website.

Register Member

Matthew TseWith Matthew Tse
Tax Adviser, Knowledge Shop

 

Requirements

You will need a computer with audio!!

  • Audio Your computer needs speakers or a headset to hear the audio (do a quick check these work). If you are having problems, you can dial in on the phone number provided on the reminders and confirmation but please note your carrier will charge you at long distance rates.
  • Software Join the webinar 15 minutes prior to check that your computer systems allow you to download the GoToMeeting software. Or check your connection days before the webinar by going here
  • Webinar URL To join the webinar, you need to click this link. It was sent to you when you registered and will also be on the reminders - check your spam if you have not received and please contact us ASAP if you have lost.
  • Changing computers If you need to change computers during the webinar, make sure you log off the webinar on the first computer before logging onto the second computer.
  • PC requirements Windows 7 - Windows 10, Mac OS X 10.9 (Mavericks) - macOS Catalina (10.15) Linux, Google Chrome OS, Android OS 5 (Lollipop) - Android 9 (Pie), iOS 10 - iOS 12, Windows Phone 8+, Windows 8RT+
  • Web browser Google Chrome (most recent 2 versions), Mozilla Firefox (most recent 2 versions)
  • Mobile iPhone 4S or later, iPad 2 or later