Company Tax Online Workshop

How to successfully manage company tax and franking credits for company clients - trading, investing, passive, large or small!

Wednesdays: 9, 16 & 23 June 2021

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Company Tax Online Workshop

"Jo-anne Hotson - first class presentation, [she] communicates her vast knowledge with humour yet very professional. Best presentation I have been to in years.”

2019 workshop attendee

Issues, risks and solutions when managing company clients
Implications of recent changes - losses, tax rates & franking & more
Maximising the Budget 2021-22 extensions

The tax landscape for companies has changed significantly over recent years. Almost every element of a company’s lifecycle is impacted in some way by these changes. This essential Company Tax Online Workshop walks you through the best practice methods of managing your company clients and identifies the issues, risks, and forward planning required to achieve the best outcome.

Led by in-demand trainer Jo-anne Hotston (lead trainer for TaxBytes), this practical workshop will give your team the knowledge they need to efficiently and accurately manage the tax and accounting work for company clients.

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Dates & Details

Session 1: Wed, 9 June 2021
Session 2: Wed, 16 June 2021
Session 3: Wed, 23 June 2021

12:30pm - 2:30pm AEST
12:00pm SA & NT
10:30am WA

Approximately 2 PD hours per webinar
Reference notes included
Recording access for 3 months

FPA Accreditation pending

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What we cover

Managing company clients has become more difficult. Practitioners are often forced to help clients make decisions about how actual and impending changes will impact on them now and in the future, how the tax law applies to clients across different years, and how to structure their affairs in the most efficient way. Different tax rates, different definitions, and different applications of the tax laws are just a few of the issues that practitioners need to contend with on top of the existing issues that company clients face. Getting the timing and application right in practice is crucial to managing compliance work accurately.

The Company Tax Online Workshop is so much more than an update - it as an essential guide to identifying potential problem areas and the processes and procedures for managing company client outcomes - don't miss it.

 

Session 1: Company Losses

  • Back to the future with carry back company losses!
    • Does the company need a franking account balance?
    • What effect do the new carry back rules have on the franking account?
    • Is it better to use the carry back loss rules, or to use the carry forward loss rules?
    • Can I carry back capital losses?
  • Converting excess franking offsets into tax losses - then, which losses are used first? General tax losses or losses from excess franking credits?
  • Continuity of ownership test (COT) – what happens when there are different classes of shares?
    • Even when the COT is passed, a company needs to consider whether there has been a change in control
  • Recent changes to the same business test - does this make it easier to use losses?
  • Current year losses - when a change of shareholding takes place part way through the year - do you need to consider the often overlooked current year loss provisions and the possible effect on new shareholders?
  • Carry back loss rules, no COT or same business test, but what are the integrity rules?
  • Losses and tax planning

Wednesday, 9 June 2021
12.30pm - 2.30pm AEST

Live online workshop session, reference notes and 3 months recordings access included

Session 2

The Crucial Update

  • Budget 2021-22 - extension of temporary full expensing and the loss carry back - what do these mean in practice an how to maximise the impact for clients
  • If a company is an SBE, what are the carve-out rules for simplified depreciation and the Instant Asset Write-off concessions?
    • SBEs using the temporary full expensing rules introduced in the October 2020 Federal Budget
    • SBEs wanting to opt-out of the new accelerated depreciation and/or full expensing rules
  • When is a company carrying on a business for the purposes of the Small Business Entity (SBE) concessions?
  • Passive investment companies – are they carrying on a business and if so how does that impact on depreciation provisions, carry back loss rules, and other SBE concessions
  • Changes to the way directors are appointed and regulated - new DIN (Director Identity Number) regime.

Company tax & franking

  • How bringing forward the corporate tax rate changes by 5 years affects your planning for company clients
  • How to determine the corporate tax rate and the company’s imputation rate
  • What effect will the reduction in the corporate tax rate to 25% have on a company’s ability to frank dividends?
  • How to utilise excess franking credits generated by a company when its corporate tax rate was 30% or 27.5%
  • Can the franking rate change from year to year and is it possible for a company to revert to a 30% franking rate?

Wednesday, 16 June 2021
12.30pm - 2.30pm AEST

Live online workshop session, reference notes and 3 months recordings access included

Debt forgiveness

  • What is a debt? When is it bad? And, what tax relief is available?
  • What are the tax consequences in the borrower’s hands when an obligation to pay the debt is released, waived, or extinguished?
  • Overview of the commercial debt forgiveness rules
  • Entity to entity loans and what happens when it all goes wrong?
  • Division 7A - issues and exclusions
  • Angel investor’s loan to company is converted to share capital - what are the tax consequences?
  • Debts forgiven for reasons of natural love and affection
  • Loans between related parties – tax relief for entity writing-off loan, tax detriment for borrower
  • Double jeopardy - no tax relief for lender but tax detriment for borrower
  • Partnership debt forgiven - effect on partners

Not your money - Division 7A

  • Where are we up to with the proposed sweeping changes to Division 7A and do we have a start date yet after several years of deferral?
  • Division 7A and family law:
    • Why the tax concessions don’t always help when your client’s relationship breaks down
    • When taxable dividends can be triggered without anyone realising
    • The dangers of writing-off, forgiving or assigning loans
  • The renewed ATO focus on indirect benefits
  • Common Division 7A problems and how to resolve them
  • Best practice for managing Division 7A loans

Wednesday, 23 June 2021
12.30pm - 2.30pm AEST

Live online workshop session, reference notes and 3 months recordings access included

Our presenter

Jo-anne Hotston

With Jo-anne Hotston
Trainer, TaxBytes

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We all know tax can be a little dry. This is why Jo-anne is a sought after corporate trainer and presenter. Her engaging and practical style brings training to life.
 
Jo-anne is the founder of in-house training company TaxBytes with a deeply loyal client base. This is simply because she is a rarity – that unique combination of technical knowledge, pragmatic application, and charisma. Jo-anne is a regular presenter for the major professional associations including the Institute of Chartered Accountants Australia and New Zealand and The Taxation Institute of Australia and is a monthly presenter on CPE. TV.
 
A former director of a mid-tier accounting group, Jo-anne is a Fellow of CAANZ, a Chartered Tax Advisor with the Tax Institute and holds a Masters in Taxation from the University of Sydney.

 

Investment

Wednesdays: 9, 16 & 23 June 2021
Need group rates? Call (or email) Lee Marshall on 0434 067 133.

Member

Workshop Series Per Person
3 x sessions, reference notes and recording access for 3 months

  • $495 individual access
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Non-Member

Workshop Series Per Person
3 x sessions, reference notes and recording access for 3 months

  • $565 individual access
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Terms & conditions: All registrations to Knowledge Shop events are subject to our terms and conditions which include a cancellation policy. No refunds are provided for cancellations received 1 day prior to the webinar. No credits are available less than 2 hours prior to the event under any circumstances.