Company Tax Online Workshop

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

Issues, risks and solutions when managing company clients
Implications of recent changes - losses, tax rates & franking and more

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 Karen Vella (Senior Tax Trainer for TaxBanter), this practical workshop will give your team the knowledge they need to efficiently and accurately manage the tax and accounting work for company clients.

Total 6.5 CPD Hours

Details

Recorded: 7, 14 & 21 August 2023

FAAA accredited for a total of 6.5 CPD hours (31200, 31201 & 31203)

  • 5.75 Tax (financial) advice
  • 0.75 Regulatory compliance and consumer protection

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.

*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.

"Presenter covered more complex company tax issues with knowledge & enthusiasm."
"Karen was clear and concise, easy to understand."

2023 online workshop attendees

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.

What's included?

  • 3 x 2 hr webinars (est.)
  • 3 month access to Q&A embedded webinar recording
  • Reference notes

 

1
2 CPD hours (est.)

Session 1

August 7, 2023
Company losses
  • Back to the future with carry back company losses!
    • Effect on the franking account 
    • Should I carry back or carry forward? 
    • Can I carry back capital losses? 
    • Do the company loss tests apply?
  • Turning excess franking offsets into tax losses
  • Continuity of ownership test (COT) – what happens when there are different share classes?
    • COT is passed? – the often-forgotten control test
  • The ‘business continuity’ test - does this make it easier to use losses? 
  • Failed the loss rules?  the often-overlooked current year loss provisions and the possible effect on new shareholders
  • Losses and tax planning 
3
2 CPD hours (est.)

Session 3

August 21, 2023
Debt forgiveness
  • What is a debt? When is it bad? And what tax relief is available? 
  • Tax consequences to lender
  • Tax consequences to borrower 
  • Entity to entity loans - what happens when it all goes wrong? 
  • Division 7A - issues and exclusions 
  • What if debt is converted to share capital 
  • Debts forgiven for reasons of natural love and affection
  • Loans between related parties
    • 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?
  • 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 
  • Common Division 7A problems and how to resolve them
  • Best practice for managing Division 7A loans
  • The latest on unpaid presented entitlements from trusts 
2
2 CPD HOURS (est.)

Session 2

August 14, 2023
The crucial update
  • End of temporary full expensing and the loss carry back - how to maximise the impact for clients
  • Small business entities (SBEs)
    • When the simplified depreciation rules can’t apply
    • Temporary full expensing rules – to use or not to use
  • When is a company carrying on a business for the purposes of the SBE and other business concessions?
    • Passive investment companies – are they carrying on a business?
  • Changes to the way directors are appointed and regulated - new DIN (Director Identity Number) regime 
  • Proposed new digital games tax offset for companies
  • Update on company residency
Company tax & franking
  • How to determine the company tax rate
  • When the maximum franking credit differs from the company tax 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? 
  • Proposed legislative changes limiting access to franking credits

Our presenter

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.