Focus Session Program

Overview and exploration of tax technical issues including a summary of history, background, irritants, obstacles and suggestions for a way forward. These 8 sessions will provide food for thought on reform priorities and set up the next phase of discussion.

Key / Legend

Retirement & Wealth

Business Taxation

Personal Tax and Transfer

Indirect Taxation

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30 September 2020

12:30–2:00pm AEST

Virtual Session

Facilitator

Robyn Jacobson, CTA, The Tax Institute

Retirement and Wealth

This session considers the taxation of retirement income, intergenerational wealth transfer and inheritance taxes.

Potential focus areas include:

  • Interaction between superannuation guarantee regime, voluntary superannuation, non-superannuation wealth and age pension
  • Taxation of superannuation life cycle: contributions, earnings and benefits
  • Taxation of investment earnings outside superannuation
  • Taxation of capital: intergenerational transfers and inheritances.

Speakers

Phil Broderick, CTA, Sladen Legal

Ian Raspin, CTA, BNR Partners

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6 October 2020

12:30–2:00pm AEDT

Virtual Session

Facilitator

Robyn Jacobson, CTA, The Tax Institute

Business Taxation: SMEs and family businesses

Giving consideration to the taxation of business income and entity structuring issues relevant to SMEs, key areas of focus in this discussion will include:

  • Tax rates applicable to business income across entities types and regimes
  • Inextricable link between Division 6 and Division 7A: s 99A tax rates and accessing and liberating the flow of capital
  • Corporate tax rate and a reconsideration of an undistributed profits tax or entity taxation
  • Imputation system: retain, change or abolish?

    Speakers

    John Ioannou, CTA, Deloitte Private

    Mark Molesworth, CTA, BDO

    Andrew Noolan, CTA, Brown Wright Stein Lawyers

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    14 October 2020

    12:30–2:00pm AEDT

    Virtual Session

    Facilitator

    Jerome Tse, CTA, King & Wood Mallesons

    Business Taxation: Global and Transnational Businesses

    The current tax landscape for large corporates and the barriers to operating in a global economy.

    Potential focus areas:

    • Doing business against a backdrop of competing domestic policy agendas and multi-stage global economies
    • Do we have the right settings in our tax system to incentivise behaviour, attract foreign investment and remove barriers to Australians businesses expanding overseas?
    • Are the current corporate tax regimes working effectively (eg. consolidation and TOFA)?
    • Reviewing the effectiveness and efficiencies of the diverted profits tax, transfer pricing and hybrid mismatch policies
    • Corporate residency: where should we land?
    • Tackling tax crimes through coordinated and multi-jurisdictional efforts.

        Speakers

        Paul Abbey, PwC

        Michelle de Niese, Corporate Tax Association

        Andrew Mills, CTA (Life), The Tax Institute

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        21 October 2020

        12:30–2:00pm AEDT

        Virtual Session

        Facilitator

        Robyn Jacobson, CTA, The Tax Institute

        Business Taxation: Small Business Tax Concessions

        This session draws on recent reviews and considers the policy drivers behind, and the design of, small business tax concessions.

        Potential focus areas:

        • Available concessions: their justification and are they still fit for purpose?
        • Hurdles to entry and lack of consistency in eligibility criteria and across regimes
        • Efficiency and Simplicity versus Integrity
        • Interaction with other provisions: a case for streamlining.

            Speakers

            Leanne Connor, CTA, WGC Business Advisers

            Linda Tapiolas, CTA, Cooper Grace Ward Lawyers

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            28 October 2020

            12:30–2:00pm AEDT

            Virtual Session

            Facilitator

            Peter Godber, CTA, President, The Tax Institute

            Personal Taxation and Transfer Entitlements

            This session considers the interaction between the personal taxation and transfer systems, and how reforms could improve efficiencies.

            Potential focus areas:

            • The personal marginal tax rates and tax offsets: have we got it right?
            • Rethinking work-related expenses: efficiency versus integrity
            • Alienation of personal exertion income: certainty needed on allocation of professional practice profits and a reconsideration of the PSI regime?
            • The question of residency: ensuring the tax system remains astride with workforce mobility.

                Speakers

                Dr Ann Kayis-Kumar, UNSW

                Prof Miranda Stewart, CTA, ANU & UniMelb

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                4 November 2020

                12:30–2:00pm AEDT

                Virtual Session

                Facilitator

                Marg Marshall, CTA, WLF Accounting & Advisory

                Employment taxes

                Does the current system impede job creation?

                This session considers this perspective, as well as the current treatment of employment taxes and other areas of focus, such as:

                • FBT: overdue for reform
                • Efficient and effective taxation of fringe benefits
                • The prevalence of salary packaging: is this desirable and does this create inefficiencies?
                • Payroll tax redesigned: completing the harmonisation and removing anomalies and disincentives.

                    Speakers

                    Paul Ellis, CTA, EY

                    Paul Hockridge, CTA, Mutual Trust

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                    11 November 2020

                    12:30–2:00pm AEDT

                    Virtual Session

                    Facilitator

                    Steve Ford, CTA, PwC

                    Innovation: creating jobs and investment

                    The role the tax system plays in encouraging innovation and removing barriers to create jobs and increase investment in Australian businesses is a fundamental area of focus in the discussion on reform.

                    Discussion will include:

                    • Is the current and proposed R&D tax incentive fit for purpose?
                    • What new tax incentives could be introduced to recognise and encourage alternative and contemporary forms of innovation, such as collaboration premiums and intellectual property incentives?
                    • Are the current industry-targeted programs and venture capital measures are appropriately designed?
                    • How can the tax system best support infrastructure projects?
                    • Consideration of alternative forms of capital raising for start-ups and established businesses.

                        Speakers

                        Minh Dao, CTA, KPMG

                        Mariana von Lucken, CTA, HLB Mann Judd

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                        18 November 2020

                        12:30–2:00pm AEDT

                        Virtual Session

                        Facilitator

                        Neil Warren, UNSW

                        GST and indirect taxation

                        Reflecting on the design of indirect taxes and the mix of federal and state taxes, the potential focus areas of this session will begin with consideration of the GST, and delve into discussion on:

                        • GST rate and base, including equitable compensation for low-income earners
                        • Stamp duties and land taxes: getting the balance right
                        • An array of indirect taxes: a case to reform luxury car tax, wine equalisation tax, fuel tax credits, excises, resource taxes and other charges, fees and levies.

                            Speakers

                            David Marks QC, CTA, Queensland Bar

                            Simon Tisher, CTA, Victorian Bar

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