6 conversations in-touch tax practitioners are having right now

Whether you work in a major city or a small town, a big firm or as a sole practitioner there’s nothing better for professional growth and career satisfaction than being plugged-in and engaged with ideas and people in your profession

From routine legislation changes to sweeping tax reform, exciting new ideas to everyday technical issues, our Community platform is the best new way to connect and talk with tax professionals from all walks of life, all across Australia.

Why connect with our Community?

There are lots of ways for tax practitioners to keep up to date with ideas – through email newsletters like TaxVine, professional journals, social media, or attending industry events.

Community is your number one stop for connecting with other people practicing tax. Here’s what sets it apart:

1. It’s designed to easily facilitate conversations. Ever wish you could respond to a point made in a journal, or find an easy way to enter a conversation with new connections? Wish granted. Community’s forum style approach means conversations flow easily and naturally, allowing you to have your say in a constructive way.
2. You’re connected in real time. Getting feedback or input on important topics isn’t always a smooth process – and you don’t always have the luxury of time. Community immediately connects you to your peers who are online, whenever, wherever. You can also subscribe or favourite conversations to receive an email notification, allowing you to jump right back in when new ideas are shared.
3. Networks are no longer limited by physical space. If 2020 taught us one thing about the way we work, it’s that we can be more connected through technology than ever before. Think of Community as a virtual meeting space where you can forge connections with practitioners at all levels, from different companies, different specialities and different cities all around the country.
4. Members speak your language. Community is a platform for members of The Tax Institute – which means everyone you meet there is a dedicated tax professional, just like you. Opinions and ideas you find there are coming straight from the source*.
5. You set the agenda. In Community, you can create a new topic of conversation whenever you want. So if we’re not already talking about an important issue, and interesting fact or anything else that sparks your curiosity, you can start that conversation in no time 

Watch a quick walk-through of the Community platform and how to get started with a conversation.

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What our Community is talking about today

The conversation has already started! We’ve been chatting in Community on a number of different topics, including important issues facing the profession, our recent events and ideas springing from member experiences.

Here are some of the hot topics being discussed in Community at the moment:

Trust resolutions – $416 to minor, balance to company – OK on amendment?

Is a section 95 income definition distribution of $416 to minors (assuming no CGT or Franking Credits) with a “balance to entity X” acceptable? Help out with your view on this scenario and a related paper.

Add your thoughts to the discussion.

Division 7A: making loan repayments by journal entry

What would assist you and your practice to make it easier to comply with Div 7A? Following our popular webinar, led by Robyn Jacobson, CTA, ask questions and brainstorm ideas with fellow practitioners.

Join the conversation.

ATO disclosing TFN in Portal reports – and practice note TPB(PN) 4/2021

How do you feel about the ATO using and disclosing a client’s TFN information in email communications - hindrance or help? Give us your thoughts (and keep your eyes peeled for our upcoming article with further information!).

Make a suggestion.

Federal Budget 2021–22 discussion thread

Share your thoughts and get answers to your Budget questions. What was missed? What are you excited about?

Weigh in on the Budget.

Cryptocurrency Wallet Scanner

Have you ever used a ‘wallet scanner’ to take a client’s cryptocurrency transactions and produce the relevant CGT reports? Members are looking for insight into this exciting new tech.

Share your experience.

SBE can’t opt out of full expensing asset by asset if they have an SBE Pool?

Is there a way out by opting out of simplified depreciation, despite still having a pool to write off? One of our members has solved this tricky conundrum.

Find out what they have to say.

Ready to debate and discuss with passionate practitioners who speak your language? Join our members-only Community platform today.

*Information, opinions and ideas shared in Community should not be taken as advice and you should always do your own research into an issue.