Understanding tax residency issues and the treatment of foreign income through a series of comprehensive, practical, worked examples.
Drawing on material from the newly published Practical Tax Examples book, this session (in our webinar series), will examine key tax concepts surrounding the treatment of tax issues by working through examples taken from the book, explaining how tax law and administrative practice applies to real life situations, and how that can translate into a tax outcome for your clients.
Examples are deliberately framed to reflect real life client situations and issues that you might encounter on a daily basis, as well as some of the more complex and unusual outcomes that can apply.
During the webinar, you will be guided through practical worked examples illustrating the following tax topics:
• How to work out if a taxpayer is Australian resident or non-resident
• How tax residence determines the treatment of Australian and foreign source income
• What is exempt foreign income and how is it treated?
• Claiming a foreign income tax offset
• Taxation of income for temporary residents
Webinar Learning Outcomes:
Participants will gain an understanding of how the rules around residency and foreign income apply, both in theory and when applied to common client situations, as explored through our practical worked examples. The knowledge gained can then be taken back to the office to be applied to your present and future clients.
This webinar provides an introductory and intermediate level of knowledge ideal for the development of staff within tax agent and accounting practices who act for individual clients with residency and foreign income issues. The webinar is also ideal for other professionals requiring an overview of the tax rules around foreign income and tax residency, including HR staff, migration agents and lawyers with inbound and outbound clients.
Mark Chapman is the author of Life and Taxes: A Look At Life Through Tax published by Wolters Kluwer in July 2017. He has over 25 years’ experience as a tax professional in both the UK and Australia, specialising in tax for small business and individuals. He is a member of the Institute of Chartered Accountants in England and Wales, the Chartered Institute of Taxation and is a fellow of CPA Australia. He holds a Masters of Taxation Law with the University of New South Wales.
Since 2015, Mark has been Director of Tax Communications with H&R Block Australia. He writes regularly on tax issues for numerous media outlets and presents on topical tax topics at seminars and other events. He broadcasts frequently on radio and television and writes a regular column for Money Magazine and Yahoo7 Finance. As a tax practitioner in the UK, he occupied a number of senior positions before moving to Australian in 2007 to join the Australian Taxation Office (ATO) as a senior director.
You will be provided with:
• PowerPoint Presentation slide deck
• Any Supporting Documentation
• Webinar Recording to view multiple times for up to 6 months
• An opportunity to ask questions to the presenter