Tuesday 21 November
With so much at stake for clients when they use trusts for investment or business purposes, advisers need to be up to date and proactive with their advice on matters to do with trusts:
1. Has the client lost the trust deed – what can be done, and at what cost?
2. How wide should the class of beneficiaries be in discretionary trusts?
a. Payroll tax implications – recent cases
b. Landholder duty implications
c. Corporate trustee duty implications
d. Can disclaimers or variations work?
3. When is a trust a fixed trust for trust loss purposes? Recent finalisation of the ATO’s practical compliance guideline
4. When will an interest in a trust give rise to non-arm’s length income for SIS Act purposes, and is this any different to a fixed trust for trust lost purposes?
Neal Dallas, principal, will present these current trust related issues faced by clients of our referrers. Real case studies will be presented to provide some practical guidance on what to do.
Accountants certificates – sophisticated investors – when can they be done and at what risk?
Accountants, have you:
1. ever issued an accountant’s certificate for a sophisticated investor, or considered whether your practice “should” issue such a certificate?
2. considered how much of an understanding you should have of a client’s structure before providing such a certificate?
3. wondered what the risks and liabilities are in issuing such a certificate?
4. wondered if a SMSF can obtain a certificate?
5. heard of ASIC’s recent concerns on accountant certificates?
Chris Davis, principal, will cover the questions most asked by accountants, and cover recent ASIC concerns and what accountants might be exposed to under the legislation. He will also address the professional liability risk that accounts may suffer.