Effectively manage the tax treatment and risks of interest expenses
Recorded Thursday, 12 November 2020
The common problem areas and practical solutions The new rules for vacant land Key issues for investors and business taxpayers
The tax treatment of interest expenses can be a complex area and is one that often comes under ATO scrutiny, especially when the amounts involved are significant.
Additionally, recent changes to the tax rules make it more difficult for some clients to claim deductions for interest expenses relating to property.
The Interest Expenses Webinar looks at the common issues and problem areas that arise when clients incur interest expenses. We walk through the areas where clients often make mistakes and where accountants can provide proactive advice to improve tax outcomes for clients.
Applying the new rules for interest relating to vacant land
Dealing with mixed purpose loans
Refinancing loans and the impact on deductions
Changes in tax residency and ongoing interest expenses
Prepayments
Borrowing money from overseas
Interest expenses incurred before income is generated
Interest expenses incurred after an asset is sold or a business has ceased
Our Presenter
Michael Carruthers
Tax Director, Knowledge Shop
Michael oversees the development of the tax team for Knowledge Shop and Hayes Knight in Sydney and is head of the Hayes Knight group’s national tax committee.
Michael has a knack for seeing through the complexity and helping practitioners work through highly technical issues with certainty and accuracy
Michael is a member of the advisory panel for the Board of Taxation and is 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.
Michael Carruthers
Tax Director, Knowledge Shop
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