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.