The Tax Institute Round Table, March 2017

8 months ago
Published: Monday 15 May 2017

The Tax Institute Round Table was held at The Tax Institute’s National Convention in March 2017. It is one of the ways the ATO is engaging with the tax profession to understand matters that are important to tax professionals and identify the questions within these topics that need closer attention.

Working together with Tax Institute members, the ATO sought feedback from all institute members via Tax Vine prior to the National Convention on potential topics. The Tax Institute Round Table provides a unique opportunity for Tax Institute members to help influence what issues the ATO will address via public advice and guidance. This is the second year the Tax Institute Round Table has been included on the agenda for the National Convention.

This year’s Tax Institute Round Table included Senior ATO representatives, Second Commissioner Andrew Mills and Chief Tax Counsel Kirsten Fish, joined by Professor Gordon Cooper from Cooper & Co, and Peter Godber from Grant Thornton communicating directly with tax professionals in a question and answer format across a range of topics.

An array of current technical issues was covered including:
  1. Family Partnerships
  2. Superannuation including meeting the $1.6m transfer balance cap and retirement planning arrangements
  3. Corporate Residency
  4. Private Group Demergers
  5. Small Business Restructure Roll-over
  6. Unpaid present entitlements under sub-trust arrangements

A summary of this discussion that provides practical guidance on the above mentioned issues is now available on the ATO Legal Database.

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