Tax & Business Services Basics Workshop 2024

All the things we wish we knew when we entered the profession

Fast track the trial & error learning curve for grads
Cut down the review time spent on errors
Active workshop style learning

A Live Instructor Led Workshop

Tax & Business Services Basics tests your team’s knowledge in a hands-on workshop environment. This is active learning where participants prepare a tax return and BAS while working through real client issues.

Cut down the review time spent on errors and help your team think for themselves, dig deeper, and ask the right questions.

Often team members are not confident to ask the questions that really count - or worse, they are simply unaware of the gaps in their knowledge. This workshop aims to change that.

Total 6.75 CPD Hours (est.)

Dates & Details

Tuesday, 20 February 2024

9:00am-5:00pm AEDT

Wednesday, 28 February 2024

9:00am-5:00pm AEST

Monday, 19 February 2024

Wednesday, 21 February 2024
Monday, 26 February 2024

11:00am - 1:00pm AEDT (NSW, VIC, ACT, TAS)
10:30am SA
10:00am QLD
9:30am NT
8:00am WA

Terms & conditions: All registrations to Knowledge Shop events are subject to our terms and conditions which include a cancellation policy. 

*Online Office Registrations. Maximum 15 participants per firm (must have same email domain). The PD points for all attendees will be recognised and links will be provided to all attendees.

"Excellent workshop! I have learnt so much today, and it has been great/somewhat scary to see how much we can rely on software and the ATO prefills, and we could be making mistakes and be oblivious. I think this training will be pivotal to my future as I endeavour to review and conduct my work with a better understanding of the tax concepts."

2023 Sydney Participant

What we cover

Tax & Business Services Basics tests your team’s knowledge in a hands-on workshop environment. This is active learning where participants will complete returns and activity statements while working through real client issues.

A Note to Managers...

Tax & Business Services Basics is designed to show your team why technical skills will only take them part of the way. We demonstrate why a job does not start and end with just their technical knowledge.

At each stage we’ll show your team how to avoid bad habits and do it the ‘right way’:

  • How to make sure that nothing is missed
  • Why they can’t always rely solely on what the client tells them
  • How to avoid the spread of bad habits among team members
  • Giving your team the confidence to challenge the way things have always been done
  • Using a checklist as best practice and to assist you with an ATO audit
  • Teaching your team how to resolve an issue
  • Why clear and precise workpapers are so important

Then, join us for Part 2 in the Tax & Business Services series, Tax & Business Services Intermediate I.

Case Study - Understanding the trial balance

You will analyse and work through a sample trial balance. We then walk you through:

  • Converting the trial balance into something meaningful
  • Why it’s important to verify every asset and liability
  • Transacting with related parties and what to look for
  • Getting the trial balance to a point where your manager can review it
  • SBE eligibility and when clients can use the SBE concessions.
    • Recent extension of some concessions to bigger businesses
  • Temporary tax depreciation incentives
  • The opportunities to look good and deliver an advantage to your client
  • Is there a Div. 7A issue?
  • Taxes on employment and recognising that different taxes tax different things
  • Contractors - what the Commissioner is targeting
  • Why what your client tells you is not always right

Case Study - Getting the I return right

So, you think you know everything about ‘I’ returns? We cover the gaps and pitfalls to make sure those tax returns are done correctly. What drives your manager insane and what you should be picking up.

  • Conducting a client interview - what to say and what not to say
  • Preparing an ‘I’ return - with particular attention to trouble spots such as:
    • Understanding income from different investments (e.g., managed funds)
    • What happens when your clients cross borders?
    • Rental property tips and target areas including deductions that are now limited and what the ATO is targeting
    • Legally maximising deductions - what clients can claim & when you are pushing the boundaries
    • Travel expenses - when you can use the Commissioner’s daily rates
    • Claiming car expenses
    • Self-education deduction amendments and the ATO's new guidance
    • Working from home deductions - why using the ATO's fixed rate isn't as easy as it used to be
    • When can a deduction be claimed against an allowance
  • Recognising and managing ATO target areas
  • When a deduction can be claimed for business losses
    • Contrasting the rules for individuals and partnerships with those for companies and trusts (including the loss-carry back rules)

Case Study - The BAS from scratch

Together we'll prepare a BAS manually, without software, so that your team

  • Understand the various sections and labels on a BAS
  • Recognise the difference between income for GST purposes and PAYG instalment income
  • Learn why tax codes are so important when using software
  • Gain some tips to reduce the risk of an ATO review

Our presenters

Tax Director, Peninsula Accounting & Tax

Craig Rosen

PofileCraigRosenCraig was previously a business services Director of Hayes Knight in Sydney. His trajectory to Director at a relatively young age is testament to his capacity to understand client needs and get the job completed. 

Craig now manages his own practice and continues to provide training to fellow professionals. Having trained CPA Australia members and private organisations, Craig is also a stickler for detail and knows how work needs to be completed.  

His goal for this workshop is to ensure that participants walk away with so much more knowledge and practical tips than when they arrived. 

Senior Tax Trainer, TaxBanter

Karen Vella

Karen Vella R 2Karen has ‘been there and done that’, having trained with the Big Four, initiated her own successful small practice before moving to Hayes Knight as a Partner.

Karen solidified her role as an educator at Webb Martin (Kaplan) before creating her own consultancy.

She has worked her magic on leading accounting practices around the country and is a trainer for leading in-house training company TaxBanter and for Knowledge Shop.