Rethinking Trusts (& matching client needs) Day
The right decisions from the start and through the lifecycle of a trust client
Our line-up
The Rethinking Trusts (and matching client needs) Day is for those who want to get to the heart of the key issues that arise when working with clients who are contemplating using a trust or who already carry on business or investment activities through a trust.
The trusts landscape has changed significantly over the last few years with changes to key ATO guidelines and landmark court decisions. The rationale for why a client established a trust structure many years ago might have evolved and the shifting boundaries imposed by the regulators might be impacting on the effectiveness of the structure. For clients who use trusts for commercial or personal reasons, the outcomes might be different to what they had assumed.
Using a single case study threaded throughout the day, each presenter will walk through not only the essential technical details of managing client scenarios involving trusts, but the practical application – the decision points, timing considerations, calculations and increasingly, the direction of the regulators.
Using our case study characters, Mr & Mrs Jones, we’ll take you on a journey through their ambitions, their commercial and family needs, identifying the key issues, ‘red flags’, and the approach to take when working with a complex set of factors.
One day only. Don't miss it.
Register
Melbourne
EARLY BIRD ENDS 30 APR 2024
AU$685 $620 Members
AU$735 $670 Non-members
Melbourne
Register
Sydney
EARLY BIRD ENDS 22 MAY 2024
AU$685 $620 Members
AU$735 $670 Non-members
Sydney
Dates & Details
Melbourne
Friday, 31 May 2024
DoubleTree by Hilton Melbourne
270 Flinders St, Melbourne VIC 3000
EARLY BIRD ENDS 30 APRIL 2024
Sydney
Tuesday, 4 June 2024
EARLY BIRD ENDS 22 MAY 2024
Time
8:30am registration
9:00am - 5:00pm Rethinking Trusts Day
Price
Early bird member: $620
Early bird non-member: $670
General member: $685
General non-member: $735
FAAA accreditation pending
Knowledge Shop members, register through the portal for the discounted rate (new portal | retiring portal)
Terms & conditions: All registrations to Knowledge Shop events are subject to our terms and conditions which include a cancellation policy. No refunds are provided for cancellations received 5 working days or less from the event date, you can however send a substitute. Between 14 and 6 working days, a credit note will be provided. Cancellations more than 15 working days from the event will be provided with a full refund.
What we cover
How clients use trusts and the issues triggering the ATO’s attention
w Michael Carruthers
There are many reasons why clients might decide to utilise a trust structure, but tax planning is often one of the key reasons why clients will gravitate towards using a trust. With the ATO clamping down on common strategies, how do we ensure that trust distributions are still tax-effective?
Following Mr & Mrs Jones’ on their journey of using trusts for business and investment activities we explore the issues that often arise and demonstrate how common arrangements can trigger unfavourable outcomes and attract ATO attention, including:
- What not to do when helping clients with year-end distribution processes
- The latest thinking on section 100A
- Practical guidance for staying under the ATO’s radar when distributing income to adult children
- Could Part IVA apply to trust distributions?
Hidden dangers lurking within the tax system
w Tiffany Douglas (Mel) & Karen Vella (Syd)
There are many hidden dangers lurking in the tax system for trust clients. We explore how and why problems occur and what needs to be done to avoid them.
We look at the issues that often slip through the cracks and aren’t picked up until it is too late, including:
- Section 99B and receiving distributions from a foreign trust or deceased estate
- Distributions to foreign resident beneficiaries
- Franking credit problems areas
Common legal issues and challenges
w Neil Brydges (Mel) & Peter Kramer (Syd)
Mr & Mrs Jones are in a world of pain. We demonstrate how to help clients get the structure and operation of a trust right by demonstrating the things that so easily can go wrong.
We explore what trustees and advisers should be doing to reduce the risk of trust arrangements being challenged, including:
- Recent developments around the steps that trustees should be taking when considering who should receive distributions
- Amending trust deeds
- Winding up trusts
The traps when distributing to related entities
w Michael Carruthers
Managing trust distributions between related entities can be a high-risk area. There are a range of complex tax issues that can be difficult to navigate, exposing clients to unwanted ATO attention.
We explore the most common issues that arise when distributions are made to related companies and trusts, including:
- The issues that need to be managed when distributing income to loss entities
- The latest Division 7A developments
- Family trust elections and interposed entity elections and why it is so easy to mess things up.
Our presenters
Michael Carruthers
Michael is an adviser, author, in demand presenter, mentor to Knowledge Shop’s technical team, and is well known for his capacity to translate highly technical information into tangible and useable advice for the profession. He has a knack for seeing through the complexity and helping advisers work through highly technical issues with certainty and accuracy.
Michael works with advisers every day to help them negotiate and implement the constant tide of change impacting the industry.
He is a member of the advisory panel for the Board of Taxation and is 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.
Tiffany Douglas
Tiffany has over 25 years experience in the tax profession undertaking roles within accounting firms (including the Big 4), corporates (including multinationals) and tax education/advocacy. Over this time, she has managed client portfolios, in-house tax functions and has also worked as both a tax technical writer and workshop/seminar presenter.
Tiffany’s outside interests include travelling, reading and keeping fit.
Karen Vella
Karen has ‘been there and done that’, having trained with the Big Four, initiated her own successful small practice before moving to Hayes Knight as a Partner.
Karen solidified her role as an educator at Webb Martin (Kaplan) before creating her own consultancy.
She has worked her magic on leading accounting practices around the country and is a trainer for leading in-house training company TaxBanter and for Knowledge Shop.
Neil Brydges
Neil is a principal in the business law area, with a particular focus on taxation advice and disputes.
Taxation law is a complex area. Neil’s aim is to provide technical expertise to clients, commercially applied and in a friendly and approachable manner.
Neil’s practice involves advice, audits, disputes, and transactions. The client mix includes both family groups and business enterprises. Neil also regularly assists professional advisors, including tax agents, accountants, and financial advisors, to understand complex legal issues and help them to better assist their own clients.
Neil is a Chartered Tax Advisor with The Tax Institute and accredited as a specialist in taxation law with the Law Institute of Victoria.
Since 2019 Neil has been named one of Australia’s “Best Lawyers of the Year” in the practice of tax law. Neil has also been recognised in Doyles Guide as a recommended tax lawyer since 2021.
Peter Kramer
Peter advises clients on a range of matters relating to estate planning, taxation, superannuation, trusts and asset protection. He takes the time to understand his client’s circumstances and objectives and provides clear and pragmatic advice.
Peter helps his clients and their professional advisers to resolve taxation issues with the Australian Taxation Office and Revenue NSW. He is experienced in bringing taxation audits and investigations to a commercial resolution and has prepared successful objections to many unfavourable taxation assessments and decisions.
Peter presents on topics associated with his areas of practice for a number of tax discussion groups. He is committed to continuous learning and development because the law (particularly in the areas of taxation and superannuation) is constantly changing.