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
- 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 capitalisation
- Legal expenses
- Trading stock
- Administration
- Anti-avoidance provisions
- Consolidation
- Dividends
- The small business entity regime
- Year end tax planning
This course consists of one hard copy learning manual and one 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 suitable for those needing to prepare company tax returns.
