Date posted: 21/06/2019 7 min read

Queensland Regional Update June 2019

All the local news from the Queensland office.

In brief

  • Regional Manager update
  • Recent events
  • Upcoming events

Regional Manager Update

Well it’s pretty much Winter, and of course, what do our minds turn to as soon as the temperature drops? You guessed it – CAANZ Winter Tax & Super School! Or perhaps not everyone, but I really want to encourage you to consider registering this year for one of our Schools across the Queensland locations – this workshop is well-suited for manager-level and above in the firm, really practical and case-study-based - and this year we are supporting Townsville following tough times earlier in the year, with a 50% DISCOUNT on ALL registrations for the Townsville School. We really hope to see many of you there.

You may have seen our infographic summarising this month’s Queensland state budget, please read on for some further detail around the payroll tax implications and the proposed regional discount. We were fortunate to be able to arrange for your Regional Council Chair Peter O’Regan FCA, to attend the state budget lock-up on behalf of CAANZ, and gain early access to the budget papers – quite an interesting experience for Peter.

Also this month we have hosted an offsite Regional Council meeting, a trans-Tasman Rural & Regional Advisory Committee meeting and member engagement event at Rockhampton’s SmartHub. This was well-attended by some 50 or so members, who heard from Michael Croker on all things tax following the federal election, an update on CA Catalyst and another on supporting good mental health in the workplace. The event was rounded off with a members’ town-hall forum and networking, with really positive feedback from those members who attended.

Once again our CA Achiever student work experience placement program has kicked off, if you are a suburban or regional firm and you would like to engage a student through this program, please do contact us ASAP to find out more about the program and get in a late registration.

For details of the CA Achiever student work experience placement program.

CA Achiever details
Please note that nominations for members to advance to Fellowship will close at the end of July, so I encourage you to think about nominating a peer today.
Finally, a quick plug for the CAAG service: first created by Queensland’s own Life member Dr Bob Grice AO FCA, this free, confidential advice service is available to all members and provisional members who are facing challenging ethical or professional situations.

Please contact me to be connected with a member of the Queensland CAAG.

Click here

Kind regards,

Penny Ellenger
Queensland Regional Manager

Recap of events

Highlights – Regional Queensland

The Gold Coast Members Group enjoyed an informative session on Wednesday 15th May, with Assistant Commissioner of the Australian Tax Office, Colin Walker, presenting a Tax Practitioner Update and the Future 2019. 

Master Mental Health First Aid Instructor Stephen Dowling from AON, has seen first-hand the impact of mental health illness in commercial accounting practices and finance sectors. With the recent flood events in Townsville, North Queensland members benefitted from Stephen’s presentation on Monday 20th May, which focused on how accountants can support those impacted by traumatic events, from droughts to floods.  Indigenous Accountants Australia(IAA) also sponsored ten James Cook University students to attend this event.

Queensland June

Upcoming events

Key Events in July 2019

Date Event 
 Mon-Tue 1 and 2 July  Brisbane Winter Tax and Super School
 Wednesday 3 July  Brisbane Business Valuations Breakfast
 Friday 5 July  Indigenous Accounting Forum
 Wednesday 10 July  Sunshine Coast Members Group
 Sunday 14 July  Townsville Certificate Presentation Ceremony and Member Dinner
 Mon-Tue 15 and 16 July  Townsville Winter Tax and Super School
 Mon-Tue 15 and 16 July  Brisbane Public Practice Program
 Wednesday 17 July  Gold Coast Members Group
 Thu-Fri 25 and 26 July  Gold Coast Winter Tax and Super School
 Mon-Tue 29 and 30 July  Toowoomba Winter Tax and Super School

Please contact the Queensland office for any further information.

Click here to contact the Queensland office

or visit the CAANZ webstore to search regional events and more.

Click here for CA ANZ webstore

Opportunities and updates

Payroll Tax implications from state budget

Further to the Queensland Budget 2019-20 Overview circulated to Queensland members last week, we understand some members are interested in understanding more about how the announced likely regional payroll tax discount might apply. 

The 2019-2020 Budget confirms that the payroll tax free threshold will increase from $1.1 million to $1.3 million.  Businesses who employ more than 85% of their workers outside South East Queensland will receive the benefit of a 1% reduction on the relevant payroll tax rate. 

Although we are waiting on further details of how this concession will operate, the proposed concession appears very similar to the Victorian payroll tax concession which allows a reduced payroll tax rate to employers based in regional Victoria if they pay at least 85% of their Victorian taxable wages to regional employees.

For the purposes of the Victorian provisions:

  • regional areas are defined by reference to specific regional local government areas
  • a business will be based in a regional area if they have an ABN or principal place of business located in the specified regional areas, and

the 85% rule regarding payments to regional employees in Victoria is determined by reference to whether employees perform more than 50% of their services in regional Victoria in any particular month.

The payroll tax concession for regional Queensland is a substantial change to Queensland payroll tax and we look forward to learning more about the precise mechanism that will be implemented in coming weeks.

6 Reasons why you should attend WTSS

Our popular Case Study format continues for our 2019 Winter Tax & Super Schools ensuring attendees leave with a thorough and practical understanding of the topics covered below. Attendees may register for one or both days:

Day One (Taxation focus) - We will have a close look at:

  • The Base Rate Entity rules including issues with ‘royalties’, bucket companies and some thoughts on tax consolidation for SMEs
  • The Small Business CGT ‘Integrity’ Measures and how these rules (applying to post February 2018 gains) make it harder to apply the concessions to the sale of shares/interests in fixed trusts
  • The Director Penalty Notice Regime – the new ATO approach and powers in relation to outstanding SG amounts.

Day Two (Superannuation focus) - We will have a close look at:

  • Contributions, draw-downs and death in the new super landscape
  • The CGT Cap contribution and the Downsizer contribution
  • SMSFs as a retirement vehicle – assessing SMSFs against trusts and companies.

Indigenous Accounting Forum

On 5 July at Griffith University Art Museum at Southbank, CAANZ in conjunction with CPA Australia and Indigenous Accountants Australia, are hosting a first of its kind Forum. This will be an opportunity to better engage with and understand some of the unique cultural settings of indigenous business, which is a rapidly-growing sector. This Forum promises to deliver insights and opportunities for all those tasked with Diversity & Inclusion in firms, as well as those members keen to engage with indigenous business and economic participation.