Income tax for companies (100160448) - Online

Description

This comprehensive course is designed to assist you with your company’s income tax compliance obligations.

Key topics:

• The legal nature of companies
• Databases and how to use them
• The income tax formula
• Statutory income
• Income not subject to income tax
• Deductions
• Legal expenses
• Trading stock
• Capital Allowances – Division 40 and Capital Works – Division 43
• Repairs vs improvements
• Research and development
• Superannuation - employer contributions
• Losses (revenue and capital)
• Non-deductible expenditure
• Aspects of international tax
• Thin capitalization, branch profits and transfer pricing
• Administration
• Anti-avoidance provisions
• Other tax issues
• Dividends
• The small business entity regime
• Year end tax planning checklist

In this course you will receive information about the topic area and complete various exercises. In addition, a number of case studies will be explored – these are an important component to your learning and provide an opportunity to relate the theory components of the course to your actual practice.

This course consists of one online course, a PDF learning manual and an online assessment. 

Want to know more? Click below to view a sample of the learning manual.

Learning objectives

• Identify and distinguish between the types of receipts that must be included in a company’s assessable income.
• Apply the capital gains tax provisions to calculate a taxpayer’s capital gain or capital loss from a CGT event.
• Identify expenditure that is allowable as a general or specific deduction and any limitations relating to that deductibility.
• Apply the capital allowance and capital works regimes to determine the deductibility of certain types of capital expenditure.
• Develop an understanding of multi-jurisdictional tax issues (such as double taxation agreements and thin capitalisation) as they affect companies.
• Understand and apply the principles of the imputation system to both the receipt and making of franked, partially–franked and unfranked distributions.
• Apply various concessions specific to small business entities.

Audience

This course is specifically designed for finance professionals needing to prepare company tax returns.