Tax & Business Services Intermediate II Workshop 2021

Face to face or online

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Tax & Business Services Basics - Graduate Training

"Karen Vella is one of the best tax presenters I've heard from. She is extremely knowledgeable and delivers her content in plain English."

2019 Tax & Business Services Intermediate attendee

Save 20% on Intermediate II when you register Tax & Business Services Basics Online or Face to Face

Move beyond the fundamentals of compliance work
Identify issues and risks before they become a problem for clients
Brilliant refresher to keep you current

There is no other program as practical or close to reality as this one at this level.

Designed for accountants who are comfortable with the fundamentals of compliance work and are ready to step up to the next level - or as a practical refresher on the ‘need to knows.’

Tax & Business Services Intermediate II focuses on identifying issues and potential problems before the client jumps in and commits to something that might have a poor tax outcome.

Best for those moving beyond the basics and building the complexity of the work they tackle, and those needing a refresher on current law.

Essential for those who attended the Tax & Business Services Basic and/or Intermediate I Workshop.

Sydney

Tuesday, 8 June 2021
Hilton (map)
8:30am - 5:00pm

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Melbourne

Thursday, 10 June 2021
DoubleTree (map)
8:30am - 5:00pm

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Brisbane

Thursday, 17 June 2021
Hilton (map)
8:30am - 5:00pm

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Online

21, 23 & 25 June 2021
12:00pm - 1:30pm AEDT
Includes 3 mth recording access

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Knowledge Shop members, login for the discounted rates

What we cover

Tax & Business Services Intermediate II covers the issues most practitioners previously had to learn by experience or by making mistakes. Using a case study format, we help team members step up beyond the basics and manage the common but often tricky tax and business services compliance issues.

The case study structure of the program gives a ‘real life’ context to tax and business services and ensures that the logic of why particular things are completed in a particular way is not lost in theory.

Working with trusts - the next step

  • What is a Family Trust Election (FTE) and when do you need one
    • Advantages and disadvantages of FTEs
    • What to watch out for when an FTE is in place
    • Timing issues – when should FTEs actually be made?
    • When and how to make retrospective FTEs
    • Identifying the most appropriate test individual
    • Working through the family control test
    • How to determine who is in the family group
    • Situations when an interposed entity election might be needed
  • Unpaid distributions - what are the risks?
    • Division 7A and more
  • What are the ATO’s current trust targets?
  • Practical steps to protect clients

Small Business Entity vs Base Rate Entity

  • Different turnovers for different concessions
    • $2m, $5m, $10m, $50m, $500m or $5b - which threshold to apply and when
    • Recent extension of some concessions to bigger businesses
  • What is a small business entity (SBE)?
    • The ATO’s different approach for companies
  • How to make the most of the SBE concessions
    • Cash vs accruals
    • Simplified depreciation
    • Writing-off pool balances
  • Small business tax offset
    • How business structure impacts on whether the tax offset can be claimed
  • No longer an SBE – what now?
  • What is a base rate entity (BRE) - clearing the confusion
    • Impact on the corporate tax rate
    • Impact on the franking rate
    • Tax planning strategies
  • The new immediate deduction rules for depreciating assets

Rental property issues & ‘ATO proofing’ clients

  • Recent changes limiting deductions
  • Repairs vs capital improvements
    • Special levies
  • Interest deductions - what’s attracting the ATO’s attention?
  • Expenses incurred before the taxpayer rents out the property
    • Changes which took effect from 1 July 2019
  • Expenses incurred after the taxpayer stops renting the property or the property is sold
  • Properties rented to family members and other related parties
  • Use of a portion of a main residence as the business premises of a related company or trust
  • Issues that arise when earning income through Airbnb and other sharing economy platforms
    • Impact on the main residence provisions
    • When can the absence rule apply?
  • GST and property problem areas

Loans between related parties

  • On-lending to a business
    • Deductibility of interest
  • At call loans - what are the issues?
  • Tidying up inter-entity loans
  • What to do if a loan is not recoverable?
    • When can a deduction be claimed by the lender?
    • How to work out whether a capital loss is available and how to structure loans so that capital losses can be claimed on forgiveness of debts
  • Identifying possible FBT problems
  • Applying the commercial debt forgiveness rules in real life
  • Division 7A and debt forgiveness
  • Death and debt forgiveness

Our presenters

Karen Vella
Trainer, TaxBytes

Karen Vella, TaxBytes

Karen 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, then solidifying 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 TaxBytes and Knowledge Shop.

Rae Ni Corraidh
Tax Adviser, Knowledge Shop

Rae Round

Rae is an experienced tax adviser and trainer focused on helping practitioners apply complex tax rules to real life scenarios.

She understands the challenges faced by practitioners and brings a wealth of practical experience to this workshop.

Rae has delivered The Tax Institute’s CTA courses for several years, in addition to being a Chartered Tax Adviser and Chair of The Tax Institute’s NSW Technical Committee.

Investment

Workshops: Sydney 8 June, Melbourne 10 June, Brisbane 17 June 2021
Online: 21, 23 & 25 June 2021

Need group rates? Call (or email) Lee Marshall on 0434 067 133.

Knowledge Shop members, login for the discounted rates

Face to Face

  • Early Bird
  • $575 Knowledge Shop Member
  • $598 Non Member
  • General
  • $655 Knowledge Shop Member
  • $720 Non Member
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Online

  • Per person includes 3 months recording access
  • $420 Knowledge Shop Member
  • $499 Non-member

 

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Terms & conditionsAll registrations to Knowledge Shop events are subject to our terms and conditions which include a cancellation policy. No refunds are available for cancellations received 14 days or less of the event date under any circumstances. No credits are available less than 4 days prior to the event under any circumstances.