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REGISTRATION FORM – TAX INVOICE*Registration is simple; complete the form below and fax or post your registration to us or register online.Television Education Network Pty Ltd, (ABN 19 052 319 365)GPO Box 61, Melbourne, Victoria 3001Fax (03) 9670 0588 Phone (03) 9670 2055 Enquiries Jenna PickrellRegister online: http://www.tved.net.au – go to CONFERENCES

Please register me for the 6th Annual Business & Property Tax conference – a 2-day conference to be held at the Gold Coast on 5th & 6th March 2015 [conf code: GTXMAR15].

[ ] Discount Registration – for registrations made on or before 13th February 2015 - $1760 ($1600 + $160GST)

[ ] Full Price Registration – $1925 ($1750 + $175 GST)

[ ] Subscriber First Discount Registration – I am a Subscriber First member and entitled to a 10% discount off the full registration fee – $1732.50 ($1575 + $157.50 GST)

[ ] I cannot attend the conference, but wish to purchase the conference papers (A4 coil-bound book) @ $198 ($180 + $18 GST) (Code: PGTXMAR15) [note: the papers will not be available for dispatch until approx. 2 weeks after the conference has been held].

Personal Details

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Preferred Name for nametag (if different from above) ................................................

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PaymentI enclose cheque for $................ payable to Television Education Network Pty Ltd

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Cardholder’s Signature: ..............................................................................................* Note: This form will be a Tax Invoice for GST when you make a payment.

GENERAL INFORMATION

Conference Registration FeeThe 2 day conference registration fee includes attendance at the conference, a copy of the conference papers, refreshment breaks and lunch on both conference days.The registration fee does not include any travel or accommodation. Delegates are advised to make their own travel arrangements.

CPD Hours/Units/PointsAccountants: 11 CPD/Training hours Solicitors (except WA): 7 CPD units (substantive law) (for specialists - total session time excluding breaks = 11 hours)Solicitors in WA: 6 CPD points

The Conference VenueSheraton Mirage Resort & Spa Gold Coast71 Sea World Drive, Main Beach, QueenslandThe Sheraton Mirage is located in the heart of Main Beach on the Gold Coast, Queensland.

Conference Delegate Rate at the Sheraton MirageTelevision Education Network has negotiated a special conference delegate rate with the Sheraton Mirage. These rates are strictly subject to availability. Delegates are advised to make their own accommodation arrangements directly with the Sheraton Mirage.

Standard room with buffet breakfast for 1 person $265 (GST incl.)

Hotel Reservations: Phone: (07) 5591 1488Website: www.sheraton.com/goldcoast

Other AccommodationIn addition to the Sheraton Mirage, there are numerous apartments/resorts in Main Beach from which to choose. Below is a list of accommodation in easy walking distance of the Sheraton Mirage.

• Golden Sands on the Beach (07) 5532 4811• Norfolk Beachfront Apartments (07) 5532 8466• Sea World Resort (07) 5588 2205• Palazzo Versace (07) 5509 8000

Television Education Network has not negotiated rates with any of the above venues. They are listed for your convenience and are a small sample of the many accommodation options in Main Beach from which to choose.

Travelling to the Conference VenueDelegates are advised to make their own travel arrangements.The Gold Coast is easily accessed via Coolangatta Airport - 20 kms away and Brisbane Airport is an easy 1 hour drive. There are also rail and coach services from Brisbane into the Gold Coast.

Rental CarsAll of the major rental car companies have agencies at both Coolangatta and Brisbane airports.

Conference DressSmart casual attire is suitable. (note: the temperature in the function room varies depending on where you are sitting. Short sleeves/summer tops are generally OK, but it is advisable that you bring something with long sleeves just in case you need it.)

Cancellation PolicyCancellations must be received in writing at least 10 days prior to the Conference for a 85% refund. Substitute delegates accepted at any time.

Conference TermsProgram subject to change without notice. The information and views presented in the conference are not necessarily those of TEN and participants rely on these at their own risk. TEN is not responsible for any fi nancial or other losses incurred by delegates or for injury or damage to persons or property. TEN’s maximum liability for conference cancellation or any other loss or liability is the refund of the registration fee paid.

TEN is not responsible for fi nancial loss incurred by you as a result of the cancellation or postponement of the conference as a result of strikes, natural disasters, and other Acts of God such as volcanic ash clouds in Australian airspace. We therefore strongly advise you to take out travel insurance if your attendance plans involve air travel or other signifi cant travel to the conference venue.

© 2014/15 Television Education Network Pty Ltd. All rights reserved. The program for this conference is copyright and may not be reproduced in any form without the prior written consent of the copyright owner.

6 THE SIXTH ANNUAL

BUSINESS & PROPERTY TAX CONFERENCE

The professional development specialistsThe professional development specialistsThe professional development specialistsThe professional development specialists

The professional development specialists

TelevisionEducation Network

Structuring Property Developments for Tax EffectivenessStructuring Property Developments for Tax EffectivenessStructuring Property Developments for Tax EffectivenessStructuring Property Developments for Tax EffectivenessStructuring Property Developments for Tax EffectivenessTwelve Common Property Development Tax Problems and Twelve Common Property Development Tax Problems and Twelve Common Property Development Tax Problems and Twelve Common Property Development Tax Problems and Twelve Common Property Development Tax Problems and Twelve Common Property Development Tax Problems and Twelve Common Property Development Tax Problems and Twelve Common Property Development Tax Problems and How to Solve ThemHow to Solve ThemGST Issues for Residential or Mixed Property DevelopmentsGST Issues for Residential or Mixed Property DevelopmentsGST Issues for Residential or Mixed Property DevelopmentsGST Issues for Residential or Mixed Property DevelopmentsGST Issues for Residential or Mixed Property DevelopmentsGST Issues for Residential or Mixed Property DevelopmentsGST Issues for Residential or Mixed Property DevelopmentsGST Issues for Residential or Mixed Property DevelopmentsGST Issues for Residential or Mixed Property DevelopmentsGST Issues for Residential or Mixed Property DevelopmentsGST Issues for Residential or Mixed Property DevelopmentsGST Issues for Residential or Mixed Property DevelopmentsGST Issues for Residential or Mixed Property DevelopmentsGST Issues for Residential or Mixed Property DevelopmentsGST Issues for Residential or Mixed Property DevelopmentsGST Issues for Residential or Mixed Property DevelopmentsGST Issues for Residential or Mixed Property DevelopmentsGST Issues for Residential or Mixed Property DevelopmentsGST Issues for Residential or Mixed Property DevelopmentsGST Issues for Residential or Mixed Property DevelopmentsGST Issues for Residential or Mixed Property DevelopmentsGST Issues for Residential or Mixed Property DevelopmentsGST Issues for Residential or Mixed Property DevelopmentsGST Issues for Residential or Mixed Property DevelopmentsGST Issues for Residential or Mixed Property DevelopmentsGST Issues for Residential or Mixed Property DevelopmentsGST Issues for Residential or Mixed Property DevelopmentsGST Issues for Residential or Mixed Property DevelopmentsGST Issues for Residential or Mixed Property DevelopmentsGST Issues for Residential or Mixed Property DevelopmentsGST Issues for Residential or Mixed Property DevelopmentsGST Issues for Residential or Mixed Property DevelopmentsGST Issues for Residential or Mixed Property DevelopmentsGST Issues for Residential or Mixed Property DevelopmentsGST Issues for Residential or Mixed Property DevelopmentsGST Issues for Residential or Mixed Property DevelopmentsMaximising After Tax Returns from the Sale of a CompanyMaximising After Tax Returns from the Sale of a CompanyMaximising After Tax Returns from the Sale of a CompanyMaximising After Tax Returns from the Sale of a CompanyMaximising After Tax Returns from the Sale of a CompanyMaximising After Tax Returns from the Sale of a CompanyMaximising After Tax Returns from the Sale of a CompanyMaximising After Tax Returns from the Sale of a CompanyMaximising After Tax Returns from the Sale of a CompanyMaximising After Tax Returns from the Sale of a CompanyMaximising After Tax Returns from the Sale of a CompanyMaximising After Tax Returns from the Sale of a CompanyMaximising After Tax Returns from the Sale of a CompanyMaximising After Tax Returns from the Sale of a CompanyMaximising After Tax Returns from the Sale of a CompanyMaximising After Tax Returns from the Sale of a CompanyMaximising After Tax Returns from the Sale of a CompanyMaximising After Tax Returns from the Sale of a CompanyMaximising After Tax Returns from the Sale of a CompanyMaximising After Tax Returns from the Sale of a CompanyMaximising After Tax Returns from the Sale of a CompanyMaximising After Tax Returns from the Sale of a CompanyMaximising After Tax Returns from the Sale of a CompanyMaximising After Tax Returns from the Sale of a CompanyMaximising After Tax Returns from the Sale of a CompanyMaximising After Tax Returns from the Sale of a CompanyMaximising After Tax Returns from the Sale of a CompanyMaximising After Tax Returns from the Sale of a CompanyMaximising After Tax Returns from the Sale of a CompanyMaximising After Tax Returns from the Sale of a CompanyMaximising After Tax Returns from the Sale of a CompanyMaximising After Tax Returns from the Sale of a CompanyMaximising After Tax Returns from the Sale of a CompanyTaxation of EarnoutsTaxation of EarnoutsTaxation of EarnoutsTaxation of EarnoutsSolving Practical Problems with the Small Business CGT Solving Practical Problems with the Small Business CGT Solving Practical Problems with the Small Business CGT Solving Practical Problems with the Small Business CGT Solving Practical Problems with the Small Business CGT Solving Practical Problems with the Small Business CGT Solving Practical Problems with the Small Business CGT Solving Practical Problems with the Small Business CGT Solving Practical Problems with the Small Business CGT Solving Practical Problems with the Small Business CGT Solving Practical Problems with the Small Business CGT Solving Practical Problems with the Small Business CGT Solving Practical Problems with the Small Business CGT Solving Practical Problems with the Small Business CGT Solving Practical Problems with the Small Business CGT Solving Practical Problems with the Small Business CGT Solving Practical Problems with the Small Business CGT Solving Practical Problems with the Small Business CGT Solving Practical Problems with the Small Business CGT Solving Practical Problems with the Small Business CGT Solving Practical Problems with the Small Business CGT Solving Practical Problems with the Small Business CGT Solving Practical Problems with the Small Business CGT Solving Practical Problems with the Small Business CGT Solving Practical Problems with the Small Business CGT Solving Practical Problems with the Small Business CGT Solving Practical Problems with the Small Business CGT Solving Practical Problems with the Small Business CGT Solving Practical Problems with the Small Business CGT Solving Practical Problems with the Small Business CGT Solving Practical Problems with the Small Business CGT Solving Practical Problems with the Small Business CGT ConcessionsConcessionsConcessionsIncome Splitting in Professional FirmsIncome Splitting in Professional FirmsIncome Splitting in Professional FirmsIncome Splitting in Professional FirmsIncome Splitting in Professional FirmsIncome Splitting in Professional FirmsIncome Splitting in Professional FirmsIncome Splitting in Professional FirmsIncome Splitting in Professional FirmsIncome Splitting in Professional FirmsIncome Splitting in Professional FirmsIncome Splitting in Professional FirmsReimbursement AgreementsReimbursement AgreementsReimbursement AgreementsReimbursement AgreementsReimbursement AgreementsReimbursement AgreementsReimbursement AgreementsReimbursement AgreementsReimbursement AgreementsReimbursement AgreementsReimbursement AgreementsReimbursement AgreementsReimbursement AgreementsReimbursement AgreementsReimbursement AgreementsReimbursement AgreementsReimbursement AgreementsDividend Access Share ArrangementsDividend Access Share ArrangementsDividend Access Share ArrangementsDividend Access Share ArrangementsDividend Access Share ArrangementsDividend Access Share ArrangementsDividend Access Share ArrangementsDividend Access Share ArrangementsDividend Access Share ArrangementsDividend Access Share ArrangementsDividend Access Share ArrangementsCommon Employment Taxation MistakesCommon Employment Taxation MistakesCommon Employment Taxation MistakesCommon Employment Taxation MistakesCommon Employment Taxation MistakesCommon Employment Taxation MistakesCommon Employment Taxation MistakesCommon Employment Taxation MistakesCommon Employment Taxation MistakesCommon Employment Taxation MistakesCommon Employment Taxation Mistakes How to Settle a Tax Dispute: Case Study and Panel Discussion How to Settle a Tax Dispute: Case Study and Panel Discussion How to Settle a Tax Dispute: Case Study and Panel Discussion How to Settle a Tax Dispute: Case Study and Panel Discussion How to Settle a Tax Dispute: Case Study and Panel Discussion How to Settle a Tax Dispute: Case Study and Panel Discussion How to Settle a Tax Dispute: Case Study and Panel Discussion How to Settle a Tax Dispute: Case Study and Panel Discussion How to Settle a Tax Dispute: Case Study and Panel Discussion How to Settle a Tax Dispute: Case Study and Panel Discussion How to Settle a Tax Dispute: Case Study and Panel Discussion How to Settle a Tax Dispute: Case Study and Panel Discussion How to Settle a Tax Dispute: Case Study and Panel Discussion

Advising Amateur Property Developers on GSTAdvising Amateur Property Developers on GSTAdvising Amateur Property Developers on GSTAdvising Amateur Property Developers on GSTStructuring Property Developments for Tax EffectivenessStructuring Property Developments for Tax EffectivenessStructuring Property Developments for Tax EffectivenessStructuring Property Developments for Tax EffectivenessStructuring Property Developments for Tax Effectiveness

A two-day conference organised by Television Education Network Pty Ltd and sponsored bySound Education in TaxationSheraton Mirage Resort and Spa, Gold Coast Thursday 5 and Friday 6 March 2015

Photograph:Richard Winchell

4.25 – 5.10 pm Session 7: Solving Practical Problems with the Small Business CGT ConcessionsThe small business GST concessions are powerful and important – skilful advice on them can wipe out income tax liability from a business sale. This presentation, which assumes knowledge of the concessions, will work through some complex practical issues with the concessions. It covers:

• Practical issues with meeting the active asset test:— Finding an active asset test over a period of time— Dealing with property that is leased— Mitigating the impact of business restructures during the period of ownership

• The market value substitution rule: its signifi cance for the MNAV• Practical issues with the market value substitution rule:

— Ensuring the ATO will accept a valuation and it will stand up in Court— Substituting a lower market value where the purchaser has paid a premium

• Ensuring you really do have signifi cant individuals that can claim 100% of the concession• Qualifying for the 15 year exemption – a bridge too far?

Speaker: George Kolliou, Principal, KolliouTax Lawyers, Melbourne

5.10 – 5.20 pm Panel Comments and Questions

DAY 2 – FRIDAY 6 MARCH 2015 MORNING THEME: ATO AUDIT HOTSPOTS

9.00 – 9.45 amSession 8: Income Splitting in Professional Firms: Clarity At Last? It’s taken three years to get there, but the argy-bargy is over and the result is not as bad as many people feared. The Tax Offi ce has announced three safe harbours for professional fi rms structured as partnerships of discretionary trusts. This session explains the Commissioner’s guidance, who it applies to and what it means in practice. It includes:

• Who does the ATO guidance cover and when does it start?• What approach has the Commissioner taken?

— Comfort guidance to establish low risk rating — Choice of three separate safe harbours

• Option 1: Assessable income benchmark• Option 2: 50% of income of partner and associated entities assessable in hands of partner• Option 3: Effective tax rate of 30%• What is the legal standing of the Commissioner’s announcement?• What is the bottom line for partnerships of discretionary trusts?• Are there structures that will not fi nd safety in the harbours?

Speaker: Fletch Heinemann, Partner, Cooper Grace Ward Lawyers, Brisbane

9.45 – 9.55 am Panel Comments and Questions

9.55 – 10.40 amSession 9: Reimbursement Agreements: The Tax Offi ce Gets Tough on Taxation of TrustsThe Tax Offi ce’s announcement that it is now interpreting the anti-avoidance rule for reimbursement agreements much more broadly is contentious to say the least. This presentation covers what’s caught, what’s not, and what structures and arrangements need to be closely reviewed in light of the Commissioner’s change of heart. It includes:

• The original intention of s 100A:— Reimbursement agreements— No impact on ordinary family or commercial dealings

• When will the Commissioner now apply s 100A?• Impact on perpetual distribution arrangements• Case study• What arrangements are safe?• What existing structures and arrangements should be reviewed?

Speaker: Susan Young, Principal, Susan Young Tax Training, Brisbane

10.40 – 10.50 am Panel Comments and Questions

10.50 – 11.10 am Networking Break and Morning Tea

DAY 1 – THURSDAY 5 MARCH 2015

MORNING THEME: PROPERTY DEVELOPMENT TAXATION

9.00- 9.10 am Introduction and welcome

9.10 – 9.55 amSession 1: Advising Amateur Property Developers on GSTAs the market picks up, inexperienced property developers are deciding to try their hand at small scale developments with family or friends. This presentation examines the GST issues they face, including:

• Enterprise issues:— When does an amateur developer carry on a business?— When are they engaged in a profi t making venture?— What if the development makes a loss?

• Should an amateur register for GST?• What to do if the client has wrongly registered• Are they entitled to claim input tax credits?• Are they liable when they sell?• What if they build to rent?• Sorting out the mess for a client who has been poorly advised, or not advised at all

Speaker: John Haig, Director, John Haig Pty Ltd, Melbourne

9.55 – 10.05 am Panel Comments and Questions

10.05 – 10.50 amSession 2: Structuring Property Developments to Maximise Tax EffectivenessThe property market is fi nally picking up and with it, the market for tax advice for developers. This presentation examines the right structures for different situations, including:

• Can you use a Special Purpose Vehicle for a one-off project and claim a CGT discount? • Can you use the going concern exemption if there is a periodic tenancy in place?• Structuring a broadacre development as a joint venture:

— GST consequences— Income tax consequences

• Property development by SMSFs:— Risk of loss of super tax concessions— ATO view on what is carrying on a business— Use of widely held unit trusts v in house unit trusts— Can groups of funds develop property?

Speaker: Damian O’Connor, Principal, Rockwell Olivier, Melbourne

10.50 – 11.00 am Panel Comments and Questions

11.00 – 11.25 am Networking Break and Morning Tea

11.25 am –12.15pmSession 3: Ten Common Property Development Tax Problems and How to Solve ThemThis presentation will explain how to solve ten current income tax, GST and stamp duty dilemmas for new and experienced property developers. It includes the following:

• When can a client de-register for GST on the basis of not carrying on an enterprise or winding down?• Will you always reduce GST by using the “going concern” exemption (e.g. if there is a subsequent

sale under the margin scheme)?• Options for a developer who can’t sell all units in a residential development?• What are the stamp duty implications of using options to secure development land?• Can you reduce stamp duty using “house & land” packages?

— Commissioner for ACT Revenue v Araghi [2013]?• Can a client that owns multiple commercial properties claim the CGT small business relief?• Reducing income tax and GST on a broadacre subdivision by engaging a developer• Reducing income tax by revaluing development land as trading stock• What are the implications of two or more parties joint venturing a development and partitioning

their respective shares? — Is the position different if you have a partnership?

• What are the tax and stamp duty implications of a landowner selling a development site to a developer in exchange for a number of completed units?

Speaker: Michael Butler, Partner, Finlaysons, Adelaide

12.15 – 12.25 pm Panel Comments and Questions

12.25 – 1.10 pmSession 4: GST Issues for Residential or Mixed Property DevelopmentsGST can make or break the profi tability of a property development. This presentation will consider the GST issues that arise depending on how a development is structured. It covers:

• Acquiring land from an unregistered vendor• Acquiring a going concern• Long term construction contracts• Who is actually doing the development? Joint ventures• How the GST adjustment provisions work if the intended use of the property changes• Acquiring property under the margin scheme

Speaker: Suzanne Kneen, Director, PricewaterhouseCoopers, Melbourne

1.10 – 1.20 pm Panel Comments and Questions

1.20 – 2.15 pm Luncheon

AFTERNOON THEME: BUSINESS SALE AND REORGANISATION

2.15 – 3.00 p.m. Session 5: Maximising After Tax Returns from the Sale of a Business Owned by a CompanyMany baby boomers hold their business in a company structure and are preparing to cash in their chips and retire. This session looks at how to get these clients the most bang for their buck, where the company owning the business has sold it. It covers:

• Cancelling shares:— Section 45B— Treating capital payments as unfranked dividends— Private Ruling required

• Share buy-backs:— Division 16K provides certainty— Benefi t of franking credits

• Liquidating the company:— Distribution of pre-CGT preserves

• Sale of shares:— Risk that ATO will treat as a dividend strip

• What if there are other assets in the company than the business assets?

Speaker: Andy Milidoni, Special Counsel, Johnson Winter & Slattery, Sydney

3.00 – 3.10 p.m. Panel Comments and Questions

3.10 – 3.55 pmSession 6: Taxation of Earnouts – Are We There Yet?The Tax Offi ce announced its look through treatment for earnouts way back in 2007. The previous Government promised to legislate, but didn’t deliver. Last year, the current Government announced it wouldn’t change the law – then did a backfl ip and has fi nally introduced legislation. This presentation explains what the change means in practice and how to navigate the transition arrangements, in the light of the legislation which has fi nally been introduced. It includes:

• Look through treatment of payments under a standard earnout arrangement— Payments treated as relating to original asset for seller— Added to cost base for buyer

• How to structure an earnout arrangement • Treatment of reverse earnout arrangements:

— Repayment of part of capital proceeds• Earnouts and the maximum net asset value test• When do the changes commence?• Optional transitional relief:

— How far back does it go— What should you do in practice?

Speaker: Hayden Bentley, Partner, McCullough Robertson, Brisbane

3.55 – 4.05 pm Panel Comments and Questions

4.05 – 4.25 pm Networking Break and Afternoon Tea

11.10 - 11.55 amSession 10: Dividend Access Share Arrangements: How to Assess the Risks and What to do if the Worst HappensDividend access share arrangements are in the ATO’s sights. What is it looking for and what should you do if it targets your client?

• What is a dividend access share (DAS) and why are they used?• ATO focus on manipulation of dividend imputation system – use of s 177EA• What is the ATO targeting?

— Any preference share— Especially if issued for nominal consideration

• The use of DAS – carry forward losses and the COT test• Using DAS to distribute to tax preferred entities• DAS – can the value shifting rules apply if DAS dividends are discretionary?• Due diligence on long standing DAS –what to look for• What is the status of Private Rulings giving existing DAS arrangements the green light? Do they help?• How should you respond to a letter from the ATO?

Speaker: Philip Diviny, Partner, K&L Gates, Melbourne

11.55am –12.05 pm Panel Comments and Questions

12.05 – 1.05 pm Lunch

AFTERNOON THEME: EMERGING ISSUES

1.05 – 1.50 pmSession 11: Common Employment Taxation Mistakes and How to Avoid ThemHiring, paying and fi ring staff and independent contractors involves a plethora of state and federal taxes - and the consequences of getting it wrong can be severe for the business. This session examines the issues that commonly arise. It covers:

• Employment taxes:— PAYG— Payroll tax— SG Contributions— GST— Employee share schemes— Termination payments

• Liability of directors for unpaid SG• Employee v independent contractor:

— What is the test?— Recent cases: Centennial, Ace Insurance— What are the tax differences?

• Taxation of termination settlement payments:— Apportioning amounts to legal costs

Speaker: Michelle Hartman, Tax Partner, Deloitte Touche Tohmatsu, Sydney

1.50 – 2.00pm Panel Comments and Questions

2.00 – 2.55 pmSession 12: How to Settle a Tax Dispute: Case Study and Panel DiscussionThe incoming Commissioner announced a new, more commercial approach to resolving disputes, including embracing alternative dispute resolution. This presentation explains how to settle a tax dispute, and examines whether things have really changed for those at the coalface. It covers:

• Managing information requests• Ground rules for communicating with the Tax Offi ce• The players on the ATO side:

— What are their roles?— Who is the decision maker?

• What really matters to the ATO• Dealing with substantive issues• What to expect during the negotiation process• How to make a settlement approach• Has anything really changed?

Speaker 1: Damian O’Connor, Principal, Rockwell Olivier, MelbourneSpeaker 2: Mark Molesworth, Partner, BDO, Brisbane

2.55 pm Conference Close