Our2-Part Webinar Series: Fundamentals of Calculating a Company’s Taxable Income
The Fundamentals of Calculating a Company’s Taxable Income webinar series is developed to take participants systematically through relevant corporate tax principles.
The aim of this webinar is to assist participants to make the correct initial tax decisions when dealing with a set of facts. Pertinent questions will be addressed, such as:
- whether an expense is revenue or capital in nature?
- whether there is an allowance which may be claimed?
- which allowance to claim?
These types of decisions can have a significant cumulative impact on the tax that a business pays or save.
Participants will be able to identify and understand the core principles behind key areas that affect any corporate tax calculation and will be equipped to take more holistic approach to their work tasks.
The webinar will contribute to 4 hours CPD/CPE.
Cost: R1 380 (inclusive of VAT)
2-Part Webinar Series: Fundamentals of Capital Tax Allowances
Understanding the key tax principles relating to fixed assets are of importance to any business. It is essential that businesses take care to identify the capital expenditure eligible for capital allowances and categorise the assets to the specified rates in order to correctly calculate and declare its tax liability
The Fundamentals of Capital Tax Allowances webinar series aims to revise the key tax principles related to capital expenditure and focuses on a basic tax theoretical framework to apply when making decisions on how to classify expenditure incurred relating to fixed assets, for example, whether to capitalise or not, and if capitalised, which allowance to correctly apply. We will also address the tax consequences of the subsequent disposal of an allowance asset.
The webinar material includes a training manual which contain the essential information on the key tax principles and the application thereof to practical examples that serves as a reference source after completing the course.
The webinar will contribute to 4 hours CPD/CPE.
Cost:
R1 380 (inclusive of VAT) / R1 200 (exclusive of VAT)
2-Part Webinar Series: Fundamentals of Capital Gains Tax
Every business has assets and needs to account for capital gains or losses on the disposal thereof. Although Capital Gains Tax (CGT) has been part of the South African Legislation since 2001, some complex areas in calculating CGT are still challenging to taxpayers.
The Fundamentals of Capital Gains Tax webinar series aims to improve the understanding of both the basic mechanics of capital gains tax, as well as to an awareness of some of the more complex areas that need to be considered and applied when preparing or reviewing capital gains/losses in a year of assessment.
During the webinar series we unpack some pertinent questions, such as:
- When is CGT triggered?
- How do you accurately calculate the capital gain or loss on disposal?
- What is the impact of debt relief?
- Where do you disclose capital gains items on the ITR14 Tax Return?
- What is the impact of CGT on your provisional tax estimates and payments?
- Are you realising the available benefits by using your capital assets in the most tax efficient manner and steering clear of the myriad of anti-avoidance measures applicable to capital gains and losses?
- What are the capital loss restrictions in place?
The webinar will contribute to 4 hours CPD/CPE.
Cost: R1 380 (inclusive of VAT) / R1 200 (exclusive of VAT) per delegate
2-Part Webinar Series: A Practical Approach to Accounting for Deferred Tax
IAS 1 Presentation of Financial Statements requires an entity to prepare its financial statements (except for cash flow information) on the accrual basis. This means that the accounting tax charge should reflect the tax consequences of the amounts recognised in the specific financial year, regardless of whether amounts have been included in taxable income or not.
The difference in when amounts are added or deducted for tax or for accounting requires an adjustment - an accounting entry called deferred tax.
Deferred tax calculations are challenging for many and in this webinar series we aim to break it down for you by following a systematic approach. Once comfortable with the basic principles of deferred tax (Part 1), we will discuss some of the more complex areas that need to be considered (Part 2).
During Part 1 of the webinar series will also cover the key processes and controls necessary to produce an accurate and complete tax calculation, and is designed around the key proofs and workings that should be prepared for any tax calculation:
- The tax rate reconciliation – with a focus on permanent differences.
- The deferred tax proof – with a focus on temporary differences and IAS12 principles.
- The fixed asset proof.
Each of these proofs and reconciliations is explained in a practical manner. For each of the proofs or reconciliations, the theory to key adjustments is explained, but more importantly, participants will work through a number of worked examples which explain the application of the theory. A detailed agenda is listed below.
Please note that the following will not be covered during the webinar:
- Exemptions from recognising deferred tax on certain temporary differences. However, a high-level overview of the initial recognition exemption under IAS 12.15(b) will be discussed.
- Presentation and disclosure of deferred tax in the Annual Financial Statements.
Cost: R1 207.50 (incl. VAT) per person
CPD/CPE: 4 hours
In this webinar-on-demand we be unpack some pertinent questions, such as:
- Are you realising the available benefits by using your capital assets in the most tax efficient manner and steering clear of the myriad of anti-avoidance measures applicable to capital gains and losses?
- What is the impact of debt relief?
- What are the capital loss restrictions in place?
This webinar is a comprehensive discussion on some of the more complex areas that need to be considered and applied when preparing or reviewing the capital gains or losses in a year of assessment, inclusive of any recent amendments to applicable legislation.
The outline of this webinar is as follows:
1. Limitation of Losses
You have calculated a capital loss on a transaction, but are you aware of all of the sections and paragraphs in the Income Tax Act which impact on how you have calculated this loss, and whether you may need to disregard or ring fence this loss?
This session will cover a selection of paragraphs and sections in the Income Tax Act which impact on the amount, and use of, a capital loss which a taxpayer may claim. This will include discussion on:
- par 43A - dividends treated as proceeds
- para 39 and 56 - disposals between connected persons
- par 42 - short term disposals and acquisitions of identical financial instruments
- par 64B - disposal of equity shares in foreign companies
- s45(5) - disposal by transferee company within 18 months after acquiring in an intragroup transaction
- s103(2) - assessed loss anti-avoidance provisions
2. Anti-avoidance Rules
- Par 23: Value-shifting arrangements are directed at a particular type of tax avoidance and are contained in a number of different paragraphs. This session will provide an understanding of what a value-shifting arrangement is and the CGT impact thereof.
- Par 43: Transactions in Foreign Currency
3. Company Distributions
We will discuss the CGT implications of distributions by companies, including:
- Returns of capital
- Dividend in specie
- Share buy-backs
- Liquidation distributions
4. Rollovers
CGT principles that apply on the disposal or replacement of allowance assets and certain practical implications on disposals will be dealt with.
The webinar will contribute to 2 hours CPD/CPE
