A look at key issues which will impact your clients and your practice this tax time.
The one constant with tax is change. The COVID-19 crisis has delivered over a short period a number of massive tax developments which will continue to impact clients well into 2020/21. In addition, other significant measures have, or will, come into force that will impact many clients. As such, you can be sure that clients looking to lodge their 2020 tax return will need more guidance than ever to get things right.
This webinar is designed to bring you fully up to date on everything you need to know to make this crucial Tax Time a success.
With worked examples, detailed notes (including references to law, cases and ATO guidance), tips and traps, this webinar is the complete guide to being client-ready come 1 July 2020.
During the webinar, you will be guided through the following topics:
• Review of the 2020 individual tax return, highlighting changes and how they will impact your clients
• Overview of key COVID-19 measures and the impact they will have on individual and small business clients from July 2020 onwards, including major depreciation changes and impacts on rental property claims
• Overview of all key changes during 2019/20 which will impact clients completing their tax return this tax season including an overview of:
o Changes to home office claims
o Main residence exemption changes for foreign residents
o Preparing deceased estate returns
• A look at the ATO’s compliance approach this year, including audit targets and hotspots
Webinar Learning Outcomes:
Participants will gain the knowledge they need to deal with client issues from 1 July 2020, including detailed understanding of changes to reporting obligations on the tax return and an understanding of recent law and administrative changes that may impact their clients going forward.
The webinar is ideal for the development of staff within tax agent and accounting practices who undertake both compliance and advisory work for individual clients and small businesses.
Mark Chapman is the author of Life and Taxes: A Look At Life Through Tax and has recently edited and updated the second edition of Australian Practical Tax Examples, published in September 2019, both published by Wolters Kluwer CCH Australia. 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 fellow of the Institute of Chartered Accountants in England and Wales, a fellow of CPA Australia and a member of the Chartered Institute of Taxation. 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 Australia in 2007 to join the Australian Taxation Office (ATO) as a senior director.
You will be provided with:
• Supporting documentation
• Webinar Recording to view multiple times for up to 6 months
• Q&A Session & follow up contact details