This on-demand session is available to watch instantly after purchase at the time of your choosing and will expire within 12 Months of purchase.
Date recorded: April 2024
This one-day intensive online seminar will give you practical hands on understanding of company taxation and tax return disclosure. The day will start with the fundamentals of income and deductions relevant to companies and will proceed through to the more complex areas of income categories such as trading stock, capital gains, small business CGT concessions and taxation of company structures. The session also canvasses the scope and framework of the SBE and BRE company taxation regime and requirements for tax return disclosure.
Key Topics Covered:
1. Introduction to Australian Tax
- Types of Taxation & Source of Taxation Law
- Legal Nature of Companies
- Basic Operation of Income Tax Law for Companies
2. Income & Concepts of Income relevant to companies
- Source of Income, Derivation of income, Gross Income, Exempt Income
- Income at ordinary concepts
3. Statutory income - Scope and application CGT for Companies
- Profit- making undertakings
- Capital Gains & Capital Lossesies
- CGT Events & CGT Assets
- Roll-over relief
- Small business concessions
4. Allowable Deductions
- Section 8-1 - ITAA 1997
- Deductions prevented under the Act
- Particular types of allowable deductions
- Carry forward and carry back, and utilisation of company tax losses
- Tax consolidation framework
5. Taxation of the Company Business Structures and Distributions
6. Tips and traps relevant company tax return disclosure
Learning Outcomes:
You will be able to identify and understand the key elements and tax return disclosure requirements relevant to companies in respect of the following:
- Assessable income
- Accounting for tax
- Australia's capital gains tax regime
- Allowable deductions
- Dividends and other company distributions
- The anti-avoidance measures
- Tax administration in Australia
Meet Your Speaker, Peter Adams:
Peter has more than 26 years experience as a tax practitioner, having worked in senior tax management roles in the profession with both KPMG and PwC as well as in commerce. Recently Peter has focused on providing tax consulting and tax training services in the SME market.
