If there has been one constant feature of taxation practice over the past 20 years, it has been the pace of change, and that pace has not slackened in the course of 2002. The year has seen the enactment of debt/equity, thin capitalisation and consolidation legislation - each a major area reform in its own right and presenting particular issues for the financial services industry. This is particularly so in the areas of structured finance and financial products and the conference featured presentations on current developments in these areas.
The year has also seen a marked increase in ATO compliance activity, driven by the bedding down of the GST and business tax reform legislation, and a significant shift in the ATO's attitude from education to enforcement mode.
The program was structured to deal with many current tax issues facing financial services groups, including banking, funds management and life insurance.