Description

Part 1 of our 2-part series - navigate the new Incorporated Societies Act 2022 and optimize your society’s income tax strategy. Perfect for governance and management teams, advisors, and financial officers of clubs and societies

Existing incorporated societies are reviewing their rules and if they decide to stay registered must re-register with the Companies Office under the Incorporated Societies Act 2022 by 5 April 2026.

New societies wanting to register will automatically register under the new Act. Now may be a good time to review an existing incorporated society’s approach to income tax.
The webinar will cover:

• The taxation framework for clubs and societies
• Income tax exemptions
• Allowable deductions
• The taxation approach for mutual associations

This webinar will suit those involved in the governance and management of clubs and societies, their advisors and those with financial reporting and taxation filing obligations.

ORGINAL BROADCAST DATE

26 November 2024

LEARNING OUTCOMES

Attendees should gain an understanding of:

• The appropriate taxation status for their club or society
• Eligibility for specific income tax exemptions
• Applying the mutual association rules in the Income Tax Act 2007

SUITED TO

This webinar will suit those involved in the governance and management of clubs and societies, their advisors and those with financial reporting and taxation filing obligations.

PRESENTER

Alex Davidson, Partner – Tax Advisory, Findex (presenting on behalf of TEO).

Alex joined Findex in May 2012 as a Specialist Tax Adviser and brings over 20 years of experience in accounting, commercial and teaching roles. He has broad experience advising on tax issues across a range of tax types and clients, from structuring advice to guiding high net worth individuals and investment trusts in their tax obligations. Alex has a particular interest in assisting innovative start up businesses, including helping them move offshore.

To view Part 2 of this series please click here