Looking Beyond FBT – What else should you consider?
Overview
Look beyond FBT and learn to navigate the hidden compliance traps for small business
March marks the end of the FBT year and the start of a frenetic compliance season for many businesses. Yet, for many businesses, FBT is only one of a number of considerations when it comes to compliance and risk. So, at this critical time, let’s broaden our horizons and make sure we consider all the different ways that benefits provided might trip up small businesses, including Division 7A, PSI and general non-deductibility provisions.
In this session we will cover the following:
- Benefits provided by small businesses
- FBT
- When does it apply and in relation to what?
- Why not just private and domestic expenditure?
- Division 7A
- Payments to associates
- Loans to associates
- Unpaid present entitlements
- What should you apply? FBT or Division 7A? Do you have a choice?
- Personal services income (PSI) rules
- Decision trees
- Practical tips for managing your tax risk on benefits provided to employees or other associates of small businesses
Learning Outcomes:
By the end of this session, attendees should be able to:
- Understand and articulate the different types of benefits that can be provided by small businesses
- Define how different provisions in the tax rules might apply depending on the specific circumstances
- Understand how to determine the capacity in which a benefit was provided to an associate of a small business
- Develop and communicate a practical compliance framework for clients that is easy to understand and follow.
Suited to:
Small-medium businesses, accounting firms and practitioners who manage these types of entities.
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 – Looking Beyond FBT – What else should you consider?Video
- Feedback Survey QuestionsSurvey
- Knowledge QuizTest
Your presenter
Matt HardyMRTG Consulting
is the Founder Director of MRTG Taxes and specialises in helping small to medium businesses achieve their business goals. He has 25 years’ worth of experience across small, medium and large corporates and has worked in Big4, Corporate and mid-tier firms. Before starting MRTG Taxes, Matt was GE’s head of international tax for the Wind business.