Video Length: 01:08:42
The incorporation of professional practices has, for some years now, been accepted by the Australian Taxation Office as appropriate for income tax purposes in certain instances. This webinar covers the specific requirements laid down by the ATO in this regard and also highlights the key tax implications arising from the incorporation of professional practices, including some tips, traps and planning opportunities associated with it:
- The ATO requirements for allowing incorporation of professional practices
- The ATO stance on the tax treatment of shareholders and directors of professional practice companies
- Specific tax treatment of professional practice company losses and goodwill
- Specific tax treatment of goodwill inherent in professional practice companies
- The tax accounting basis for professional practice companies
- The tax implications of using service trusts as part of the structure of a professional practice
- Tips, traps and planning opportunities relevant to professional practices
Complete Tax CPD
(100% Online – 40 Hours CPD/Year)
As a practising accountant, we are required to complete a total of 120 hours of CPD per triennium. This equates to 40 hours of CPD per year…
As well as meeting your CPD requirements, you are required to stay abreast of tax developments so as to provide the best service you can to your clients, whether it be from tax updates or special topic training.
Our signature Complete Tax CPD Program addresses both requirements providing you with 40 hours of quality training every year to meet your annual CPD requirements easily.
Each year, you will receive a total of 40 hours of CPD through tax update webinars and tax masterclasses.