23 Disposal of Business Fixed Assets – What you Need to Know (Webinar Recording)
excl. GST - Broadcast Date: 15 August 2023
| Quantity |
Product Description
The webinar will review the rules and IR practices that relate to the disposal of business fixed assets. The webinar will consider the general rules and look at the disposal of certain types of assets.
The webinar will provide a detailed review of the general rules on disposal of fixed assets. It will identify technical issues and IR practices and provide practical explanations of the key tax considerations for the disposal of some specific assets.
This webinar will not consider the bright-line test.
The issues/areas covered in the webinar will include the following:
Income Tax
• Depreciation recovery income
• Early termination of a finance lease
• Early termination of a hire purchase
• Transfers between associates
• Insurance claims
• Business land & buildings
GST
• Time of supply
• Value of supply
• Repossession under a hire purchase
• Zero rate land sales
• Associated person transfers
Upon satisfactory completion of this activity you will be able to:
• understand the rules and principles better
• identify relevant tax issues
• have a greater awareness of tax implications in each of the areas
Total of CPD Hours: 1.25 (1 Hour 15 min)
Suited to:
This course will be suited to intermediate through to advanced accountants in public practice who are preparing financial statements, GST returns and tax returns. It will also be suitable for accountants employed by SME businesses.
PRESENTER:
Mike Hadwin, Director, Symmetry Advisory
Mike is a regular presenter for TEO Training. You’ll learn from Mike’s 40 years of tax experience as a public CA and facilitator. His clear presentation style enables you to quickly understand and apply practical learning concepts to common situations you may face in your role.