ATO focus areas for 2025 and key tax updates
Over the last few months the ATO has set out the key areas of the tax system that will come under extra scrutiny this year. This provides an early warning for practitioners and their clients on the issues that are likely to be targeted. In this session we look at the key areas where practitioners need focus their attention to ensure that clients stay out of trouble.
In particular, we look at the issues raised by the ATO in connection with family trust elections and concessions, an area where it is all too easy to make mistakes and trigger nasty tax consequences.
We also look at the latest developments in the tax system, including the ATO's finalised guidance on distributions and other benefits received from foreign trusts. This is an increasingly common problem area as more clients receive distributions from foreign family trusts, retirement funds and deceased estates.
With Michael Carruthers
Tax Director
What happens to superannuation when you die?
We explore what needs to happen to an individual’s superannuation balance when they pass away. We’ll cover the options available for an individual who has both dependents and non-dependents, and the taxation implications of receiving a death benefit payment.
We’ll also cover the transfer balance requirements on death, including how the death benefit impacts beneficiaries transfer balance cap.
The, we’ll bring it together by working through some practical examples to highlight the common issues and scenarios we see when dealing with superannuation death benefits.
With Natalie Scott
Tax & Superannuation Adviser
Do we need ethics?
In today's complex world, can accountants afford to ignore ethics? Join this thought-provoking session and explore the now critical role of ethical decision-making in the accounting profession.
We'll delve into the challenges of navigating moral dilemmas, the impact of biases on professional judgment, and the importance of upholding integrity. Sharpen your ethical awareness and ensure your practice aligns with the highest standards of professional conduct!
With Conrad Gilbert
Professionalism & Ethics Adviser