Recently practitioners have seen unprecedented change in the tax arena. GST has been at the front line followed by tax reform in its various guises of consolidation, capital allowances, new value shifting rules, demergers, a new international tax regime, etc. The challenge for 2003 is to absorb all the change without losing sight of the emerging issues for the practitioner.
This program focussed on the following areas:
- The role of the tax adviser in the current environment and moving to asset protection and appropriate structures for practitioners.
- We examined the ATO's focus on Division 7A and alienation of income.
- An overview of the preferred structures for carrying on a business was followed by a look at the tax issues associated with clients in specific industries.
- An examination of the recent developments surrounding Part IVA followed by an insight into the role of the Ombudsman and the ATO's response to provide improved services to tax agents.