Income Tax Deductions – 5 Challenging Areas

This webinar series cover key income tax considerations that advisors and their clients need to be aware of in 5 areas of income tax
deductibility.  The webinars focus on areas that are part of day-to-day activity that also have some technical challenges associated
with them.

The webinar series will cover the tax implications of the 5 specific areas of income tax deductibility and provide a practical explanation
of the key tax considerations and technical challenges.

Part 1: Distinction of Capital and Revenue Expenditure

  • General rules and limitations for deductibility
  • Court developed tests for the capital/revenue distinction
  • Expenditure on existing assets
  • Repair of recently acquired assets
  • Notional repairs
  • Demolition costs

Part 2: End of Year Adjustments

  • Prepayments
  • Provisions & accruals
    • ACC levy
    • Bad debts
    • Employee accruals
    • Warranty provisions
    • FBT
    • Stock provisions

Part 3: Non-payment of debt

  • Bad debt write offs
  • Debt remission within economic group
  • Personal debt forgiveness
  • Debt parking

Part 4: Shareholder Salaries

  • PAYE or provisional tax?
  • Excess remuneration
  • Court decisions
  • IR policy
  • Drawings where there is no profits

Part 5: Fees, Fines & Penalties

  • Accrual or cash accounting for fees?
  • Legal fees
  • Audit fees
  • Accounting fees
  • Directors fees
  • Fines & penalties
  • Tax penalties & UOMI

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

  • Have an increased understanding of the income tax issues in the areas covered
  • Better process deductions in the areas covered in financial statements and tax returns
  • Have more confidence in advising SME clients on income tax deductibility in the areas covered

Total CPD Hours: Each session is 1 hour, if you do all 5 it will be 5 hours

Suited to:

This course will be suited to intermediate through to advanced accountants in public practice and is also suitable for corporate accountants.

PRESENTER

Mike Hadwin, Director, Symmetry Advisory

Mike is a regular presenter for TEO Training over a period of 18 years. You will learn from Mike’s 35-plus 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.

Event Venue Date Description
Income Tax Deductions - All Parts (Webinar Series) Online Webinar
  • 2 April 2020 2:00 pm
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Income Tax Deductions - Part 1: Distinction of capital and revenue expenditure (Webinar) Online Webinar
  • 2 April 2020 2:00 pm

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Income Tax Deductions - Part 2: End of year adjustments (Webinar) Online Webinar
  • 21 May 2020 2:00 pm

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Income Tax Deductions - Part 3: Non-payment of debt (Webinar) Online Webinar
  • 2 June 2020 2:00 pm

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Income Tax Deductions - Part 4: Shareholder salaries (Webinar) Online Webinar
  • 21 July 2020 10:00 am

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Income Tax Deductions - Part 5: Fees, fines & penalties (Webinar) Online Webinar
  • 11 August 2020 10:00 am

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