This comprehensive learning manual contains the rules that make certain types of tax losses easier to use or ensure that the value of the loss does not erode over time. Use this as your reference guide to assist your clients to strategically manage losses and deductions.
Types of losses including revenue losses, capital losses and foreign losses
Types of taxpayers including individuals and companies
Trusts - family and fixed
Trust tests including control, 50% stake, the pattern of distributions and income injection
This course consists of one hard copy learning manual and one online assessment.
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Identify the different types of tax losses and restrictions about deducting each type of loss
Describe the restrictions that individuals face when deducting losses
Know the difference between private companies, public companies and widely held companies, and the rules that apply to each in deducting their losses
Understand the continuity of ownership test (COT) and same business test (SBT) and how the rules work in practice
Identify the different types of trusts and the restrictions that apply to each in deducting losses
This learning manual is specifically designed for those working with clients in all industries that would need to account for losses in regular reporting functions.
This course is based on the Australian taxation system.