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Frauds and Scams Webinar

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Can clients access tax relief when they lose money or assets?

When and how clients can potentially claim a deduction for lost money
Working through the CGT rules when deductions can’t be claimed
Can tax relief be claimed when crypto assets are stolen?

A Live Instructor Led Webinar

When a client is the victim of fraud or a scam, navigating the tax system probably isn’t their first priority. However, at some point they will need to consider whether tax relief can be available for money or other assets that are lost due to fraud, especially if the loss relates to business or investment activities carried on by the client.

Unfortunately, this can be a complex area to navigate and there is a lack of clear public guidance on how the tax system applies to financial losses relating to fraud or scams.

The Frauds and Scams Webinar guides you through the process of determining whether tax relief can be available to clients who have suffered financial losses from fraud or scams to minimise the overall impact on the financial position of clients.

We look at the potential options for claiming a deduction and what happens if no deduction is available. We also take a look at the increasingly common scenario where crypto assets are stolen and when tax relief might be available.

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AU $195 members
AU $235 non-members

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Register Team*

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AU $520 members
AU $595 non-members

Register Team*
Total 1.25 CPD Hours

Date & Details

Thursday, 28 November 2024

Time
12:00pm - 1:15pm AEDT
11:30am SA
11:00am QLD
10:30am NT
9:00am WA

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*Office Registrations. Maximum 10 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.

What we cover

We walk you through the key tax issues that need to be considered when clients lost money or other assets as a result of fraud or scams:

What's included?

  • 1 x 1.25 hour (est.) webinar
  • 3 month access to Q&A embedded webinar recording
  • Reference notes
  • When clients can access deductions under specific tax provisions dealing with money that is stolen
  • When the bad debt deduction rules might be available
  • Why it is easier for clients who carry on a business to claim a deduction for stolen money
  • The most relevant CGT events that need to be considered in situations involving fraud and scams and the practical implications
  • Specific issues to consider when crypto assets are stolen and cannot be recovered

Our presenter

Tax Director, Knowledge Shop

Michael Carruthers

MichaelCarruthers

Michael is an adviser, author, in demand presenter, mentor to Knowledge Shop’s technical team, and is well known for his capacity to translate highly technical information into tangible and useable advice for the profession. He has a knack for seeing through the complexity and helping advisers work through highly technical issues with certainty and accuracy.

Michael works with advisers every day to help them negotiate and implement the constant tide of change impacting the industry. He was a member of the advisory panel for the Board of Taxation and was a member of the reference group for the Board’s review of small business concessions.

He was also an expert panel member for the Board’s review of tax impediments facing small business.

Terms & Conditions
Each education service purchase is for your use only and accessible through your individual account. Each live online education service will be provided with a unique session ID to join which cannot be disclosed, forwarded, or distributed to any other individual without Knowledge Shop Pty Ltd's written consent. No other individual will be authorised to access your education service unless that individual has purchased the education service and a unique session ID has been provided to that individual. In the event of unauthorised access due to the actions of the intended recipient, Knowledge Shop Pty Ltd may suspend or cancel the access for the intended recipient and any additional individual(s) may be held liable for additional fees associated with the unauthorised access to an education service. Knowledge Shop Pty Ltd reserves the right to charge any unauthorised individual(s) who access your education service. In the unlikely situation that a live education service is cancelled, we will refund you the full cost of your purchase. If a live service is postponed, we will provide written notification to you and reschedule the education service. Your original ticket will be valid for the rescheduled date. We will also provide the recording and associated materials if you are unable to attend the education service live at the new date/time. If you are unable to attend the education service live at the new date/time, you may request a refund of the moneys paid by contacting Knowledge Shop Pty Ltd directly, with all requests to be considered on a case-by-case basis by Knowledge Shop Pty Ltd in its absolute discretion.

The General Terms and Conditions can be accessed here.