End of Financial Year Tax Planning
Overview
EOFY presents opportunities for legitimate tax minimisation, but also risks of getting such tax planning wrong.
There are a range of mechanisms that allow income tax to be minimised in a financial year by managing the elements in the tax equation about which practitioners and their clients should be aware.
This session is intended to give tax practitioners, accountants and lawyers an improved understanding of the impacts of some of these options, looking at case studies covering:
- Income recognition (both permanent and deferral)
- Capital gains tax management (gains vs losses)
- Deduction recognition (both permanent and prepayments)
- Tax loss management & compliance
- Tax offset recognition & compliance
- Trust income management & compliance
- Private company income management & compliance
- International Tax management & compliance
- Fringe Benefit Tax planning & compliance
- Superannuation planning & compliance
- Record-keeping management (for current year and later years, where relevant)
- Tax payment planning & management
In addition, we will work through CCH’s tax planning checklist.
Learning Outcomes:
Participants will gain an improved understanding of these options and their tricks and/or traps under Australian tax law for managing the elements of the income tax equation:
- Assessable income
- Allowable deductions
- Taxable income
- [Gross] Tax payable
- Offsets/credits/rebates
- [Net] Tax payable
Suited to:
Accountants, tax practitioners, BAS agents, lawyers and other practitioners serving private groups and wealthy individuals.
This On Demand recording Includes:
- Recording of the Live Webinar, which can be viewed multiple times, for as long as required
- Presenters contact details for follow up questions
- CPD Quiz
- CPD Certificate
- CPD Report – Logged automatically
- PowerPoint Presentation
- Verbatim Transcript, with Searchability
- Supporting Documentation
Course syllabus
3 lessons
- Video – End of Financial Year Tax PlanningVideo
- Feedback Survey QuestionsSurvey
- Knowledge QuizTest
Your presenter
Bruce CollinsTax Controversy Partners
is the founder and principal solicitor at Tax Controversy Partners Pty Limited, currently helping clients to resolve all types of tax issues with the ATO and SROs. Before moving into private practice in 2017, Bruce worked for over 35 years in the Tax Office, a third of this time as a Senior Executive in what is now Client Engagement Group, covering most ATO functions. Bruce was the head of the Technical & Case Leadership area in Private Wealth for several years prior to leaving the ATO, as well as having previously been the strategic and technical leader for many of the ATO’s Aggressive Tax Planning programs. Bruce was a member of the ATO’s General Anti-Avoidance Rule Panel for several years and was an ATO spokesperson on tax avoidance issues (including Part IVA and the Promoter Penalty Laws).
Bruce has an Accounting Certificate (1989), a First-Class Honours Degree in Law (1995), a Graduate Diploma in Legal Practice (1996), a Masters of Taxation (2003) and a Masters of International Taxation (2006). Bruce is a Chartered Tax Advisor with the Tax Institute, a member of the Law Society of NSW, a member of the AICD and is both a member of the Law Council of Australia and current Chair of their SME Business Law Committee.