The last 12 months has once again posed enormous challenges to taxpayers and tax practitioners alike. Tax reform continues at a heavy pace, and the ATO's compliance program suggests that they have greater expectations of taxpayers and tax professionals than ever. And, of course, there continues the usual barrage of new legislation, rulings, announcements and cases.
The program for this convention ranged from cutting edge issues such as consolidation and the new financial services reform rules, to a fresh look at business structures for SMEs, as well as a look at what's new in taxation of property. It included updates on superannuation, interest deductibility, and general developments in tax. Last, but not least, an examination of Part IVA from the ATO's perspective will help stop us from getting too many unwanted shocks!