Income Tax Planning Mindset – Income Tax Equation
Overview
Master the art of income tax planning by diving into theory and case examples, covering everything from the tax equation to managing liabilities, and understanding the ATO’s approach to various strategies
Looking at both theory and decided case examples, this session will cover some of the most persistent issues affecting income tax planning:
- Introduction – [Income] Tax Planning – Why, What & How
- The [Income] Tax Equation
- Choice of Entities
- Choice of Transactions
- Description of Facts
- Assessable Income
- Allowable Deductions
- Taxable Income
- Tax Rates
- Gross Tax Payable
- Credits/Offsets
- Net Tax Payable
- Managing Tax Liabilities
The session will also explore the practical issues that result from different tax planning strategies and how the ATO tends to approach dealing with them. Please Note: This is NOT a session on specific tax planning schemes or arrangements.
Learning Outcomes:
Participants will gain an improved understanding of the:
- Popular income tax planning mindsets and approaches
- Main ATO tools to treat ‘aggressive’ tax planning
- Other risks from crossing the lines in tax planning
Suited to:
Accountants, tax practitioners, BAS agents, lawyers and other practitioners serving small businesses, 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 – Income Tax Planning Mindset – Income Tax EquationVideo
- 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 leader 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, technical and compliance leader for many of the ATO’s audit programs. Bruce was the Senior Executive sponsor for most parts of the ATO” Aggressive Tax Planning capability for more than five years and has trained many ATO staff on the ‘Tax Planning Mindset’.
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 and is both a member of the Law Council of Australia and current Chair of their SME Committee.