Fundamentals of Tax 2025-2026: Individuals, sole traders & joint ventures package

This package provides practitioners with a practical foundation in the taxation of individuals operating as employees, investors, or sole traders, as well as those participating in joint ventures. It also covers the preparation of income tax returns (ITRs) across these different taxpayer categories. The sessions are structured to build both technical competence and practical confidence through real-life scenarios and case studies.

Across the 4 sessions, participants will be able to:

Sole Traders & Joint Ventures

• Understand the advantages and limitations of the sole trader and joint venture structures from a commercial and taxation perspective.
• Explain the taxation implications for both sole traders and joint venture participants.
• Determine the GST treatment and entitlement to GST refunds in joint ventures.
• Apply knowledge to case study scenarios reflecting real-world applications of both structures.

Individual Taxpayers

For Investors:

• Prepare an individual tax return reflecting income sources such as interest, dividends, trust and partnership distributions, rental properties,
• Airbnb, and cryptocurrency transactions.

For Employees:

• Identify and report appropriate income and deductions including work-from-home (WFH) expenses, reimbursements, and substantiation requirements.
• Complete all sections of an employee’s tax return accurately.

Sole Trader ITR Preparation

• Determine when an activity qualifies as a business for tax purposes.
• Handle home-based business deductions, including expense apportionment, depreciation, and input tax credits (ITCs).
• Address changes in creditable purpose, GST obligations, and closely-held employee considerations under Single Touch Payroll (STP).