Limited Liability Partnership (LLP) with tax issues and Companies Act 2016 updates - Workshop 2020

Overview

For REP’s, Member staff and Group (3+) registrations, complete & email registration form to cpd.malaysia@cpaaustralia.com.au

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• Save 10% when you register ONLINE at least 1 month prior to the workshop date. 

Presenter:
Mr J Selvarajah

This workshop provides insights on the practical application of the Act, LLP Regulations 2012 and the latest P.U. Orders. It will also help clear the confusion surrounding critical elements in the LLP’s accounting, tax treatments process and legislative/statutory compliance procedures. Also covered are the areas of potential tax planning available for LLP entities. Practical understanding will be enhanced via hands-on simulation on how the tax computation and annual tax cycle compliance work for an LLP.

Key topics covered:

• Types of LLPs available and incorporation procedures
• Business operation models or conditions that are best suited for an LLP
• Duties, responsibilities and risks of the partners & compliance officer in an LLP
• Understanding the various LLP’s lodgment process and statutory forms with SSM
• Procedure for change in Partners and its impact for an LLP
• Accounting for LLP—Treatment of Partners’ capital contribution account, current account, assets, loans to/from the partners, etc.
• Recordkeeping requirement in an LLP—registers and financial documents
• Understand and evaluate the advantages and potential pitfalls of converting an existing Partnership or Sdn Bhd into an LLP as permitted under the LLP Act 2012
• Tax Planning guides on LLP transactions, which would be beneficial to the LLP Partners
• LLP’s preferential tax rate, tax cycle compliance guides and procedures with IRB and Custom’s GST
• Penalties and fines on non-compliance of both LLP’s statutory compliance and Tax compliance by the LLP Partners
• LLP’s Tax Computation Simulation
• An Overview of the Companies Act 2016 and the key changes and the specific areas which will impact the existing company on capital structure, directors, auditors, company secretary responsibilities, etc.

Objectives

• Learn the unique “hybrid” features of an LLP, how it helps business growth and manage risks at the same time
• Define the laws governing LLPs and how they affect stakeholders
• Identify the procedures in setting up an LLP, the administrative and tax compliance procedures with SSM, IRB and RMC
• Explore the duties and responsibilities of Partners and Compliance Officers (C.O.) in an LLP and whether there are risks associated with an independent C.O.
• Evaluate the advantages and potential pitfalls of converting an existing partnership or Sdn Bhd into an LLP, as permitted under the LLP Act 2012.
• Practical application of tax issues available to LLP to maximise tax efficient for the enterprise and to minimise tax liabilities/disadvantages
• Companies Act 2016–A Briefing on the Key Changes & impact on existing companies and companies to be incorporated

All our workshops are available via in-house training.

Audience

This workshop is suitable for directors, CEOs, CFOs, accountants, tax advisors/consultants/agents, internal auditors, legal officers.