Confirmation of Booking

Transcription

1 The Pesentes Rebecca Mogan Rebecca is a Taxation Consultant with the NTAA and has ove 15 yeas tax expeience. Rebecca holds a Bachelo of Ats and Law and a Mastes of Taxation. Rebecca has pesented a numbe of the Back to Basics Semina seies as well as paticipating in the 2015 Tax Schools Seminas and is also a egula pesente on Tax on the Couch. Befoe joining the NTAA, Rebecca woked fo the Austalian Taxation Office as a Manage of Aggessive Tax Planning and also managed a numbe of geneal audit pojects. Ben Kilkenny Befoe joining the NTAA, Ben woked in public pactice fo eight yeas. Ben is a Chateed Accountant with a Bachelo of Commece and Mastes of Applied Taxation, and has also appeaed on Tax on the Couch. Noise & Recoding Policy Attendees should be awae that in ageeing to attend the semina, they must abide by the NTAA Noise Policy which specifically pohibits noise distaction to attendees and pesentes, such as mobile phone use duing the semina, etc. The NTAA eseves all ights to photogaph, film o othewise ecod the semina, and semina attendees consent to being photogaphed, filmed and/o ecoded. Any unauthoised photogaphy, audio o video ecoding of the semina is stictly pohibited. Any peson who fails to adhee to this condition agees to delete any such unauthoised photogaph o ecoding and that they will be asked to leave the semina venue. CPD/CPE Hous The semina allows fo 6.5 CPD/CPE hous pe day. Special offe to Non-Membes Please call and discuss the $100 (appox) semina discounts which ae available to membes of the NTAA fo a low annual fee of only $295, which includes a 12 month subsciption to the monthly newslette Voice, 3 FREE 10 minute telephone calls to ou tax advises plus discounts on most NTAA poducts. Cancellations o Tansfes It's necessay to chage a fee when confimed bookings (see below) ae cancelled. Howeve, a substitute paticipant will be accepted. If a substitute is not nominated, a cancellation fee of $99 will be applied. Cancellations Moe than 5 full woking days befoe the semina: cancellations incu a $99 administation fee. Within 5 woking days of the semina: no efunds will be available fo cancellations, although a full set of notes will be povided. Tansfes Moe than 2 full woking days befoe the semina: a cedit fo the amount chaged may be tansfeed to any othe NTAA semina without incuing the $99 administation fee. Within 2 woking days: tansfes incu a $99 administation fee. The NTAA eseves the ight to cancel o eschedule couses, change speakes o evise content as necessay. Confimation of Booking Bookings will be confimed by , fax o mail please include you fax numbe o addess fo a speedy eply. Please Note(*): You must ensue that you eceive witten confimation of you booking, othewise you may not be booked into the semina and may have to povide cedit cad details at egistation. If you do not eceive witten confimation within 72 hous of submitting you ode, contact us. Vegetaian Meals Vegetaian meals ae available as an option at no exta cost. If you pefe a vegetaian meal, simply tick the box unde the delegate name on the egistation fom. National Tax & Accountants' Association Ltd Palmeston Cescent South Melboune, Vic Tel: (03) Fax: (03) Web: ntaainfo@ntaa.com.au ABN: ' Tusts An NTAA Back to Basics Semina Basics Pesented by Rebecca Mogan & Ben Kilkenny on behalf of the National Tax & Accountants Association Ltd This semina is moe than just Basics It is a pactical wokshop which focuses on UNDERSTANDING the FUNDAMENTALS of Tusts, fom the gound-up. What will be coveed on the day? A Hands-on Guide to Setting Up and Opeating a Tust Accounting fo Tusts Common jounal enties used to pepae the financials Step-by-step Guide to Pepaing the 2015 Tust Tax Retun STEP 1: Dealing with all majo income and expense items STEP 2: Completing the Distibution Statement Avoid making costly mistakes An Essential Guide to Distibutions fom a Beneficiay s Pespective! And...all this is wapped up with a compehensive CASE STUDY, which bings togethe and highlights the vaious tax issues associated with tusts!

2 TRUSTS Basics 2015 An NTAA Back to Basics Semina A Hands-on Guide to Setting Up and Opeating a Tust Laying the foundations undestanding tusts! We povide you with an essential guide to the fundamentals of tusts, fom the gound-up! What s necessay to set up a tust? A hands-on guide to the types of tusts available and Easy to follow flowchat on what is equied to when they should be used ceate a tust Compehensive table identifying the advantages and A pactical guide to choosing the ight Tustee disadvantages of using popula tust stuctues What ae the advantages and disadvantages in using a copoate tustee? Checklist of factos to conside when choosing the ight tust fo clients Who should be the Settlo and Appointo of a tust? Common GST issues with setting up a tust: What is the significance of specifying someone as a beneficiay of a tust? Who egistes fo GST, the tust o tustee? Whose name and ABN goes on tax invoices? What ae the key elements of a tust deed? What ae the GST egistation issues fo a Unique NTAA Tust Deed checklist patneship of tusts? What name and TFN goes on the tust bank account? Debits, cedits though to the financials fo tusts! We unlock the confusion with accounting fo tusts stating with common jounal enties being used to pepae the financials! Dealing with the challenges of diffeent types of tust income Poviding sample accounting enties fo: Fanked dividends Capital eceipts Capital allowance and building wite-off claims Dealing with diffeences between accounting pofits and taxable income ATO guidance on detemining tust income Is tust income based on tax o accounting concepts? How does this impact on the pepaation of the tust financials? What is the statutoy cap? What is the impact on the income tax etun of the tust? A to Z guide to pepaing the financials fo tax puposes Should the financials be pepaed on a tax basis? What is the elevance of accounting standads? A back to basics guide to dealing with the accounting enties fo tusts What jounal enties ae equied fo tust distibutions? How to distinguish between unpaid tust distibutions and beneficiay loans Using the financial accounts to pepae a tust tax etun What should you look fo when povided with the financial accounts of a tust? Checklist identifying key items in the financial accounts that ae elevant to the pepaation of the tust tax etun

3 TRUSTS Basics 2015 An NTAA Back to Basics Semina Step-by-step Guide to Pepaing the 2015 Tust Tax Retun STEP 1: Dealing with all the majo income and expense items We ll show you how to complete the majo business income and expense labels as well as othe key labels on the tust tax etun. Label H Othe business income non-pimay poduction We wok though the taxation of tust income, including: Is tust income calculated unde the Tax Act? When is a beneficiay assessed on tust income? Checklist on how to make a beneficiay pesently entitled NTAA pactical guide on the opeation of tust and net income How to coectly identify all the components of a tust s net income Detailed NTAA guide on the why, when and how of making Family Tust Elections and Inteposed Entity Elections Tust losses What estictions apply to tusts with losses? Label M Repais and Which losses can be caied fowad by a tust? maintenance Can evenue losses be offset against capital gains? What types of income and capital can be steamed and how? Label S Net income Distibuting fanked dividends though tusts o loss fom business What is the poblem if a tust has a tax loss? How to ovecome the 45 day holding peiod ule tap Capital gains and tusts How do capital gains affect the calculation of net income? Pactical examples of how to deal with tusts with capital gains Tusts and Pesonal Sevices Income (PSI) We look at why the ATO spotlight is on PSI and Pat IVA When do the PSI ules apply to tusts? What happens if the PSI ules apply? How is net income of a tust calculated when the PSI ules apply? Item 30 Pesonal What if a pesonal sevices business (PSB) is un though a tust? Sevices Income Is income splitting amongst family membes acceptable fo tusts that cay on a PSB? STEP 2: Completing the Distibution Statement Avoid making costly mistakes! We take the guesswok out of completing the essential labels on the distibution statement. Label D Fanking NTAA step-by-step guide on how to complete the distibution Cedit statement on the tust etun Label F Net Capital Which assessment calculation codes ae to be used fo each Gain beneficiay distibution? Label V Assessment code Label H Othe Assessable Foeign Souce Income Label K Depeciation expenses A plain English guide to making tust distibutions How does the tustee distibute income? When must the distibution be made and paid? What declaations/esolutions ae needed to distibute tust income? Completing new tust etun labels, including Labels S & T When must tustee beneficiay statements be completed fo distibutions to tust beneficiaies? Dealing with the TFN withholding ules administation and epoting equiements

4 TRUSTS Basics 2015 An NTAA Back to Basics Semina An Essential Guide to Distibutions fom a Beneficiay s Pespective! What s in? What s out? Getting the disclosue RIGHT when completing a beneficiay s tax etun fo thei shae of the tust s net income. Compehensive guide to who is assessed on tust income and on what amounts Distibutions to individuals Dealing with a distibution compising capital gains and evenue losses the latest ATO guidelines What is the poblem when eceiving tax-fee distibutions fom a unit tust? When does a beneficiay qualify fo fanking cedits passing though a tust? ATO Cackdown on income splitting fo minos ATO highlight tax bombshell with fanked dividends to minos Distibutions to minos Who pays tax (and at what ate is tax paid) on distibutions to childen? What impact does the low income ebate have? Distibutions to non-esidents Does withholding tax apply on the distibution? Will the non-esident need to lodge a tax etun? Distibutions to bucket companies Do distibutions to companies ceate Division 7A poblems? Tax effective stategies to ensue deemed dividends do not aise Managed fund distibutions What is the tax teatment of managed fund distibutions? Compehensive Case Study MJ FAMILY TRUST The day will conclude with a compehensive case study, which bings togethe and highlights the vaious tax ABN issues associated with tusts, including pepaing the tust and beneficiay tax etuns. Specific tax issues that FINANCIAL REPORT FOR THE YEAR ENDED 30 JUNE 2013 will be coveed include: Detemining and accounting fo tust income Calculating the net income of a tust, including how to deal with business income, fanked dividends and capital gains Unique NTAA guidelines on steaming capital gains and dividends to diffeent beneficiaies to save tax Making valid tust distibutions: Jounal enties to ecod the distibution Sample tust distibution minutes How to distibute income Completing the tust tax etun, including the distibution statement Disclosing each beneficiay s shae of tust income and net income in thei tax etun Glossay of Tust Teminology We povide a pactical and easy to use efeence guide, which explains all the common tust tems in plain English. We ve emoved all the technical jagon fo you to simply undestand the tems associated with tusts.

5 TRUSTS Basics 2015 REGISTRATION FORM This document will be a tax invoice fo GST when fully completed and you make a payment. National Tax & Accountants Association Ltd. NTAA s ABN: NTAA Membeship No. Fim Addess State Postcode Telephone No. ( ) Facsimile No. ( ) Delegate 1 addess Date of attendance Please tick to have a vegetaian meal Delegate 2 addess Date of attendance Please tick to have a vegetaian meal (Please pint fist name and last name) Note: Please photocopy whee moe than two delegates. No. of semina attendees The Book of Rates 2014/15 Hadcopy The Book of Rates Live Total (incl. GST) $ Send cheque o povide cedit cad details Mastecad Visa Amex Cad No. Expiy Date Name on Cad Signatue Please etain this oiginal document as you tax invoice V10 PTB MTB Registe online at Sydney TRUSTS Basics 2015 Dates and Venues SMC Confeence & Function Cente, 66 Goulbun Steet, Sydney 20 Novembe 2015 (Fi) Melboune Leonda by the Yaa, 2 Wallen Road, Hawthon 13 Novembe 2015 (Fi) Bisbane Hilton Bisbane, 190 Elizabeth Steet, Bisbane 17 Novembe 2015 (Tues) Peth Cown Peth, Geat Easten Highway, Buswood 10 Novembe 2015 (Tues) Registe online Fax cedit cad details to: NTAA on Post to: NTAA 29 Palmeston Ces Sth Melboune VIC 3205 If faxing, please complete these two panels, photocopy and fax back to If paying by cheque, please complete & mail to 29 Palmeston Cescent, South Melboune Vic 3205 If you have any othe queies please call (03) TRUSTS Basics 2015 Cost and Registation Registation: Between 8.00am and 9.00am Duation: 9.00am to 5.00pm Cost: Includes compehensive notes, tea and coffee on aival, lunch, moning and aftenoon tea Membes of the NTAA One delegate $439 pe day (ie, $ net of GST) Non-Membes* of the NTAA One delegate $539 pe day (ie, $490 net of GST) (Note(*): Registation includes 3 months full membeship) The Book of Rates Full of all the essential tax ates and tables 2014/15 Hadcopy: annual compendium of tax ates and tables, updated each yea to include the impotant Fedeal Budget changes. Cost fo Hadcopy Book 2014/15: 1 to 5 books at $77 (incl. GST) pe book 6 to 10 books at $71.50 (incl. GST) pe book 11 and ove at $66 (incl. GST) pe book Book of Rates Live: available online (only to NTAA Membes). It is an inteactive publication that is updated weekly. Unlike othe publications, Book of Rates Live is constantly kept up to date with any changes to the above topics. Only with Book of Rates Live: Diffeing ates of payments and allowances made by Centelink and the Family Assistance Office as they change thoughout the yea; Inteactive Resident Individual Tax Tables; and Geat seach facility fo Depeciation Tables. Cost fo Book of Rates Live (Available only to NTAA Membes): $77 (incl. GST) pe subsciption