The concept of assessable income forms a critical part of basis of determining a taxpayer’s liability to income tax.
This session, aimed at a junior audience level, focuses on assessable income – essentials and will:
Introduce some basic concepts of Australian income tax used to identify assessable income;
Identify the various tests used to determine whether or not individuals and companies are Australian residents for income tax purposes;
Explain why the source of income is important;
Distinguish between ordinary, statutory, exempt and non-assessable non-exempt (NANE) income; and
Explain how assessable income is calculated for both residents and non residents.
All delegates will receive a copy of the presentation and any handouts.
Who should Attend:
Earn 1.5 CPE hours
Senior Tax Trainer
The Institute of Chartered Accountants in Australia