This practical course takes you through the latest changes in tax law and practice — knowledge you’ll be able to apply when preparing 2025 income tax and GST returns.

Find out about the changes that have occurred and been proposed during the 2024 calendar year relevant to SME’s and accountancy practices of SME businesses.

The course will cover:

• Legislative Changes
• Policy Releases – A review of IRD statements issued

Some of the specific topics to be covered are:

• Tax issues resulting from the change to the trust tax rate
• Taxation of backdated lump sum payments
• Charities changes
• Clarifying the meaning of “building” for depreciation purposes
• Brightline test – Main home exclusion: construction period
• Deductibility of land holding costs
• GST – Court awards and out-of-court settlements
• Tax & GST treatment of grants & subsidies received
• interest limitation rules and short-stay accommodation
• How the bright-line test applies to certain family and close relationship transactions
• Deductibility of software as a service (SaaS) configuration and customisation costs
• IR’s approach to settling disputes prior to a formal challenge.
• Directors and board members providing their services through a personal services company
• GST – goods purchased on deferred payment terms
• IR scenarios on tax avoidance

Please note the course will include two short intervals.

Upon satisfactory completion of this activity, you will be able to:

• appreciate the potential impacts of recent tax law changes on your work
• explain recent changes in tax law and practice as they pertain to your clients
• apply your learning to the preparation of the forthcoming year’s income tax and GST returns

Suited to:

Intermediate to senior accountants in public practice and any accountants working for privately owned companies.

PRESENTER

Mike Hadwin, Director, Symmetry Advisory Ltd

Mike is a regular presenter for TEO Training. You will learn from Mike’s 40 years of tax experience as a public CA and facilitator. His clear presentation style enables you to quickly understand and apply practical learning concepts to common situations you may face in your role. This is Mike’s 21st year presenting the Tax Update Course.