Foundations of Tax 2021-23 – Session 11: Business related income and expenditure
Having mastered the concepts of income, deductions, capital gains and capital allowances, there remains a few common issues in typical SME financial statements that junior practitioners have difficulty dealing with. The aim of this session is to identify some of the more common issues that junior practitioners have difficulty dealing with and work through them in a practical context.
This session is recorded on 27/05/2022
This session is recorded on 27/05/2022
On successful completion of this topic, participants should be able to:
This session forms part of the Foundations of Tax Series.
Benefits:
These concise sessions have been specifically designed for our online education platform, to ensure that you get an in-depth understanding of the fundamental tax topics in minimal time.
ATSTax
- Identify common finance related expenses including interest, mortgage fees, borrowing costs and black hole expenditure and characterise this expenditure for tax purposes
- Identify basic tax planning opportunities such as prepayments, bad debts and invoicing and explain the pitfalls associated with utilising these provisions
- Explain the tax issues associated with common small business expenses including salaries and wages for proprietors and staff, superannuation, bonuses and accrued leave, benefits, entertainment and FBT
- Apply these issues in a practical context.
This session forms part of the Foundations of Tax Series.
Benefits:
These concise sessions have been specifically designed for our online education platform, to ensure that you get an in-depth understanding of the fundamental tax topics in minimal time.
ATSTax
Please find the link to the full Foundations of Tax Series here.
Tristan Webb
Senior Tax and Superannuation Trainer, Chartered Accountants ANZ
Tristan has more than 25 years’ tax experience in organisations such as the Australian Taxation Office, PwC, CCH and HLB Mann Judd. He was the national tax director at Crowe Horwath immediately before joining Chartered Accountants ANZ. His role required a good working knowledge of tax and risk issues for mid-tier accounting firms operating in the small to medium enterprise (SME) sector. Tristan’s expertise is in company and trust taxation for SMEs and high net worth clients.
Senior Tax and Superannuation Trainer, Chartered Accountants ANZ
Tristan has more than 25 years’ tax experience in organisations such as the Australian Taxation Office, PwC, CCH and HLB Mann Judd. He was the national tax director at Crowe Horwath immediately before joining Chartered Accountants ANZ. His role required a good working knowledge of tax and risk issues for mid-tier accounting firms operating in the small to medium enterprise (SME) sector. Tristan’s expertise is in company and trust taxation for SMEs and high net worth clients.
EVENT DETAILS
Topic: Tax
Sub-Topic: Business Tax, Employment Taxes - PAYE, PAYG & FBT, Income Tax, International Tax, State/Territory Taxes, Tax Administration
Format: Recorded Webinar
Proficiency Level: Foundation
CPD: Upto 1.5 hours