About
MASTERCLASS SERIES 2011
CHOOSE BETWEEN 4 HALF DAY MASTERCLASSES - JUST $495 EACH!
We understand that training has to be focused, readily accessible and cost-effective.
The new masterclass format has been designed to allow you to pick and choose the topics most relevant to you and your team.
The focus of each of the four masterclasses was developed through research with your peers and reflects the most talked about developments and new case law.
Your Four Masterclasses for 2011
1. Application of Tax Avoidance Rules
2. Tax Law Update
3. Trusts, Asset Protection & Estate Planning
4. Reinventing and Promoting your Practice
Each masterclass runs for 4 hours to allow enough time to really drill into the issues at hand with a specialised facilitator. The extra time also gives you a unique opportunity to get your questions answered by an expert in the field.
Even more reasons to attend
• Practical, hard copy material to take away for future reference
• Gain up to 16 CPD hours
• Flexibility with both Wellington and Auckland venues
• Only $495 per Masterclass
Train your team
Do you have more than one person wishing to attend? Pay for 2 or more masterclasses and send a different team member to each event OR send multiple people to the same event. Combine your bookings to save hundreds of dollars.
Facilitators
Masterclass 1 (Application of Tax Avoidance Rules) - Facilitated by:
Kirsty Keating, Executive Director, Tax Controversy Practice, Ernst & Young
Kirsty is an Executive Director leading the Tax Controversy Practice at Ernst & Young. She began her tax career at Inland Revenue working with the Aggressive Tax Issues Specialist Investigations Teams and then as a Senior Solicitor with the Litigation Management Unit in Wellington. Since leaving the IRD, Kirsty has worked in large firm environments assisting clients in strategic dealings with the IRD including risk reviews, audits, and formal disputes involving technical and procedural issues. Her specialisation includes assessing avoidance risk in structuring and transactions, and managing complex tax disputes involving allegations of tax avoidance.
Masterclass 2 (Tax Law Update) - Facilitated by:
Jessica Rove, Senior Manager Tax, PricewaterhouseCoopers
Ross Nelson, Senior Manager Tax, PricewaterhouseCoopers
Jessica is a Senior Manager and has worked for PwC for over 10 years in New Zealand, London and Luxembourg. She provides tax consulting and compliance advice to a range of corporate clients. She has considerable experience in mergers and acquisitions and dealing with the flow on affect this has on tax compliance. Jessica has also been involved in preparing tax publications and submissions in response to new tax law and policy.
Ross Nelson is a Senior Manager with 9 years experience with PricewaterhouseCoopers. He has experience working with a wide range of businesses across a broad spectrum of industries, particularly in the energy & resources and financial services sectors. Ross also has international experience having spent time with PricewaterhouseCoopers in the UK.
Masterclass 3 (Trusts, Asset Protection & Estate Planning) - Facilitated by:
James Young, Partner, Gillespie Young Watson
Gillespie Young Watson is a specialist trust practice. James is a Trustee of the Turnovsky Endowment Trust and many substantial private Trusts with significant investment portfolios. James has conducted seminars for the Wellington District Law Society and the New Zealand Law Society on subjects as diverse as Agreements for Sale and Purchase of Business and assets administration.
Masterclass 4 (Reinventing and Promoting your Practice) - Facilitated by:
James Cozens, Managing Director, Attwood Cozens
James graduated in Business Law and then worked for several years in a major UK Accounting firm to manager level, before moving into the recruitment industry in London, specialising in recruitment for public practice firms. Before moving to New Zealand over 15 years ago he owned his own consultancy in the UK working purely for public practice firms on business development. James has also held senior management roles for leading financial recruiters in New Zealand and the UK and worked for the practice advisory arm of the UK Institute of Chartered Accountants. He is a past President of the New Zealand Division, and past Board Director, of the Recruitment and Consulting Services Association. James currently chairs the Advisory Board for Accounting and Finance at UNITEC. In 2010 he set up Attwood Cozens whose services include recruitment, training, business development and practice merger and acquisition work.
Agenda
Agenda: Day 1
8.30
One Stop Masterclass 1: Application of Tax Avoidance Rules
7 December 2011: The Rydges, Auckland
The Penny & Hooper ruling has significantly recast the legal and accounting professions’ understanding of what constitutes tax avoidance. It is expected that the Court’s decision will mean that the avoidance provisions will be applied more literally than previously. The Court ruled that company and trust structures cannot be used to artificially reduce taxable income from ‘personal exertion’. Everyone is now waiting for the IRD to issue further guidance as the ruling did not clarify exactly what constituted tax avoidance and what did not and there’s uncertainty as to where the avoidance boundaries actually lie.
The workshop will cover:
• Challenging the avoidance boundary
• Principles around use of company and trust structures
• When do income allocation or diversion arrangements constitute tax avoidance? And when does it not?
• The importance of documenting the reasons behind business decisions
• The Parliamentary contemplation test
• Determining a commercially realistic salary level to avoid being caught out
• IRD “exposure draft” and interpretation of the general anti-avoidance provisions
• What recent cases mean to the ‘choice’ principle (re tax avoidance)
• Looking back at other landmark cases
Facilitated by:
Kirsty Keating, Executive Director - Tax Controversy Practice, Ernst & Young
Richard Osborne, Senior Manager - Tax Controversy Services, Ernst & Young
12.30
End of Masterclass 1
1.30
One Stop Masterclass 2: Tax Law Update
7 December 2011: The Rydges, Auckland
Part 1: From LAQCs to LTCs
From the 2011/2012 income year existing LAQCs will no longer have the ability to attribute their losses to shareholders which effectively represents the end of the LAQC regime. The first part of the workshop will examine the new LTC regime and look at the tax implications.
• Opportunities arising from the Look Through Company regime
• Transitional rules
• The consequences of taxing LTCs as a limited partnership
• Sale of shares in an LTC and depreciation recovery
Part 2: The tax disputes procedure and proposed reforms in the current Tax Bill
Part 2 workshop will examine recent and proposed reforms, common areas of discontent with the current procedure, and the latest case law clarifying the application of the current disputes regime.
• Understanding IRD’s revised SPSs
• Steps in the disputes resolution procedure
• The scope of the “evidence exclusion rule”
• When will the IRD agree to an opt-out request from a taxpayer?
• Problems around settlements of disputes
Part 3: Other tax issues
• GST – update on land transactions
• GST – Australian case
• KiwiSaver – changes announced in 2011 Budget
• Depreciation – practical implications following changes announced in 2010 Budget
• Christchurch earthquake
• Inland Revenue’s compliance focus 2011–2012
• Tax policy work programme
• International – including proposed changes and treaties
• Post election update
Facilitated by:
Jessica Rove, Senior Manager Tax, PricewaterhouseCoopers
Ross Nelson, Senior Manager Tax, PricewaterhouseCoopers
5.30
End of Masterclass 2
Agenda: Day 2
8.30
One Stop Masterclass 3: Trusts, Asset Protection & Estate Planning
8 December 2011: The Rydges, Auckland
Trusts are amongst the most effective and widely used means of protecting assets and Estate planning. The Law Commission is currently undertaking a comprehensive review of trusts, trust law and the Trustee Act 1956 and has so far issued four “Issues Papers”. This workshop looks at the implications of the review on trusts, asset protection and estate planning.
Part 1: Family trusts and protection of assets
• How you can help your clients increase the flexibility and security of trusts
• Dealing with complex family structures and family protection claims
• Trust bust ups
• Parallel trusts
• Methods to achieve a variation or revocation of a trust (applying the extended rule in Saunders v Vautier)
• Trust resettlements; process and potential pitfalls
• What will it mean if discretionary beneficiaries have property right?
• Case law developments and lessons to be learnt
• Understanding the proposed new rule against perpetuity
Part 2: Implications of abolition of gift duty
• Implications of the change and what you should be advising your clients
• Can the entire loan based on the formation of trusts now be “repaid”?
• What do we expect to see from IRD in this regard?
• Will it see a shift of assets into trusts?
• The best way to structure a gifting programme given the change
• Relationship property and disposals of property into trust
Part 3: Trustee duties, change and disputes
• Appointment, retirement and removal of trustees
• Exercise of powers of appointment and removal of trustees/beneficiaries
• The duties that a trustee owes to beneficiaries of a trust
• Acting for Trustees v acting for beneficiaries
• Which duties should be incapable of being excluded by a trust deed?
• Trustee liability for failing to carry out duties
Facilitated by:
James Young, Partner, Gillespie Young Watson
12.30
End of Masterclass 3
1.30
One Stop Masterclass 4: Reinventing and Promoting your Practice
The business of providing professional advice is changing and accountants need to reframe their view of how to better help their clients. In reinventing your practice, business or profile, do you know what differentiates your practice from others in the marketplace? By identifying your strengths and marketing that unique edge, you can build your practice and focus on providing assistance to clients in the many areas that help clients successfully run and operate their businesses rather than simply providing once a year tax returns and financial accounts.
This workshop will show you how to reposition your entire value proposition to your clients.
• The new challenges for accountants as business advisors
• Developing client-focused services
• Make changes to how you perceive your own role with a mission statement
• How can you more effectively distinguish yourself from your competitors?
• Reinventing your approach to business development
• Raising your profile in a crowded market
• Using incremental innovation: how a focus on small changes to marketing, operations and interaction often yield surprising results
• Establishing relationships with other professional firms
• Increasing the loyalty of the clients to you by offering value added services
• The importance of recruiting (and retaining) the right people
Facilitated by:
James Cozens, Managing Director, Attwood Cozens
5.30
End of Masterclass 2
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