Description

This webinar covers key income tax considerations that advisors and their clients need to be aware of in allocating income to family members and associated entities. The webinar focuses on the the recent statement by Inland Revenue (IS 23/01). The webinar is a review of the rules coming out of the relevant cases and the IR statements. It does not review specific transactions.

Ten years ago, the Supreme Court ruled in IR’s favour in the ‘Penny & Hooper’ case. This set the principle that while a structure or arrangement may be lawful, the outcome may not be. With the recent increase in the personal top tax rate, we find ourselves, once again, in these murky waters. The case and the tax rate change bring a broad range of activities and circumstances into question. In this webinar we will review the principles, risks and factors to be considered in this area.

Topics we will be covering will be:

Interpretation Statement 23/01

• Overview
• Definition of terms
• Parliamentary contemplation test
• Commercial & Economic reality

QWBA 23/01 – Scenarios on tax avoidance

ORIGINAL BROADCAST DATE

5 September 2024

LEARNING OUTCOMES 

Upon satisfactory completion of this webinar you will be able to:

• Have an increased understanding of the income tax issues associated with income attribution
• Make better decisions in allocating profits at year end
• Have more confidence in advising SME clients on income attribution

SUITED TO 

This webinar is suited to intermediate through to advanced accountants in public practice and is also suitable for corporate accountants.

PRESENTER

Mike Hadwin, Director, Symmetry Advisory Ltd
Mike is a regular presenter for TEO Training. You will learn from Mike’s 40 years of tax experience as a public CA and facilitator. His clear presentation style enables you to quickly understand and apply practical learning concepts to common situations you may face in your role.