The concept of allowable deductions forms a critical part in determining a taxpayer’s liability to income tax. In this practical session, aimed at a junior audience or those seeking a refresher course, gain an understanding of what constitutes an allowable deduction for Australian tax purposes and how it applies to your clients and business.
When the question of whether or not deductions are allowable arises
The positive and negative limbs of the general deduction provision under section 8-1 of the ITAA 1997
Some of the specific deductions contained in the tax Acts
Certain expenditure that the tax Acts do not permit taxpayers to deduct
The anti-avoidance provisions in Part IVA of the ITAA 1936
All delegates will receive a copy of the presentation and any handouts.
Who should attend
Those working in either practice or business working with income tax.
Earn 1.5 CPE hours
Senior Tax Trainer
The Institute of Chartered Accountants in Australia