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.