Income Tax Basics for Newbies is a tax course intended for those in their first two years of practice.

Income Tax Basics for Newbies will provide coverage of the key elements of the income tax system. This webinar series will comprise a total of six webinars.

Runs weekly from 30 April to 4 June 2025
Full Series $795 OR Early Bird (by 14 Feb) for $695. Individually available too for $195. Prices ex GST. Purchase once and share with colleagues at same firm/branch.

Upon satisfactory completion of this activity, you will understand:

• how New Zealand taxes residents and non-residents
• how different types of income are taxed
• when an expenditure is deductible and some specific deduction regimes
• how to determine a person’s taxable income for a tax year
• how provisional tax works and managing resulting use of money interest exposures

Sessions:

All sessions Wednesdays, 10:00 – 11:00 am
Up to 1.00 CPD hours each.

1. Types of Income (30.04.25)

• Distinction between income, windfalls gains, and capital gains
• Income under ordinary concepts and how the Income Tax Act 2007 deems other amounts to be income
• Distinction between assessable income, excluded income, & exempt income

2. Tax Residence and Source of Income (7.05.25)

• The relevance of tax residency and the source of income
• Tax residence of natural persons, companies, and trustees
• Income sources rules for selected income types

3. Deductibility of Expenditure (14.05.25)

• The General Permission and General Limitations
• The Capital- Revenue Distinction

4. Specific Deduction Regimes (21.05.25)

• Interest
• Bad debts
• Legal fees
• Motor vehicles expenses
• Entertainment expenditure

5. Determining Taxable Income (28.05.25)

• Distinction between tax year and income year
• Rules of allocating assessable income and allowable deductions to an income year
• Calculating net income and taxable income

6. Paying Income Tax (4.06.25)

• Withholding Taxes
• Provisional Tax
• Use of Money Interest

Don’t need the whole series? Purchase individual webinars here.

PRESENTER

Stephen Richards, Partner – Tax Advisory Findex/Crowe

Stephen Richards is Partner in the Tax Advisory team at Findex. Findex is one of the largest providers of integrated financial advisory and accounting services to individuals, SMEs, and corporates in Australasia.

Stephen has been practising in tax advisory for over 25 years and is a sought-after speaker on tax topics, including for CCH, CAANZ, and TEO Training courses and lecturing in taxation practice at the University of Otago.