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Allocation of Professional Firm Profits

This presentation has broad application to all professional firms covering Draft Practical Compliance Guideline PCG 2021/D2 (Draft PCG).

In this webinar Daniel Smedley and Neil Brydges will outline the history in this area and the compliance approach that the ATO intends to apply when considering the allocation of profits by professional firms. The Draft PCG replaces the ATO’s Assessing the Risk: Allocation of profits within professional firms guidelines and the Everett Assignment web materials which were suspended on 14 December 2017. Whilst the draft PCG has some overlap with previous guidelines, there are also key differences that we will explain.

The PCG and case studies examine the inclusion of income in the assessable income of “individual professional practitioners” (IPPs) in various professional firms such as legal, accounting, architecture, and medical practices. The ATO intends IPPs self-assess to ensure compliance, so it is vital to self-educate and be proactive in terms of how to structure your firm and distribution of profits in advance of these new changes.

This interactive session will ensure participants are aware of these significant updates to alleviate potential practice risks.

Who should watch

Financial planners, tax agents, accountants, lawyers and those interested in allocation of professional firm profits.

Level of expertise

This webinar is for persons with some knowledge or interest in taxation and looking to improve their knowledge.

COST: $99.00 
If you register more than one attendee, discounts apply:

2 attendees - $190 (normally $198, saving $8)
3 Attendees - $275 (normally $297, saving $22)
4 attendees - $355 (normally $396, saving $41)
5 attendees - $400 (normally $495, saving $95)
6 attendees - $480 (normally $594, saving $114)

7 attendees - $550 (normally $693, saving $143)
8 attendees - $610 (normally $792, saving $182)
9 attendees - $680 (normally $891, saving $211)
10 attendees - $730 (normally $990, saving $260)

Free for Sladen Smart Members

Once you have registered you will be sent a receipt and then soon after a personalised link to access this webinar via zoom.

You can register up to 10 individual attendees, each person will be sent a personalised link to join. You will be unable to share your link to the live webinar. The event will be recorded and emailed to all registered attendees the day after the event.


Presenters

Daniel Smedley

Daniel enjoys solving complex taxation and trust law issues for private enterprises who share his entrepreneurial spirit. He is a trusted confidant in designing and implementing robust personal and business succession plans. Daniel’s commitment to protecting and enhancing the commercial and personal interests of his clients consistently delivers great outcomes.

He is a regular presenter at state and national industry conventions, conferences and workshops.

Read more about Daniel

Neil Brydges

Neil is a Principal Lawyer in the business law area, with a particular focus on taxation advice and disputes.

Taxation law is a complex area. Neil’s aim is to provide technical expertise to clients, commercially applied and in a friendly and approachable manner.

Neil is a Chartered Tax Advisor with The Tax Institute and accredited as a specialist in taxation law with the Law Institute of Victoria.

Read more about Neil