23 Qualifying Companies & Tax - Both Parts (Webinar Recording)
excl. GST - Broadcast Dates: 7 February 2023 and 14 February 2023
| Quantity |
Product Description
Qualifying Companies Part 1 – A Refresher
Although the qualifying company (“QC”) regime was superseded by the look-through company regime on 1 April 2011, qualifying companies existing at that date continue to operate under the QC regime. This is the first of two webinars examining the taxation of QCs.
This webinar will provide a refresher on the QC regime.
This webinar will examine
• What is a qualifying company?
• The special rules applying to distributions from QCs and when such distributions are tax exempt
• When debits arise to a QC imputation credit account
• Restrictions on utilisation of group loss offsets
• Income tax issues that arise when a QC is wound up
Upon satisfactory completion of this activity you will:
• Understand when distributions from qualifying companies are tax exempt
• Understand the special taxation rules applying to QCs
• Be aware of potential pitfalls when winding up a qualifying company
Qualifying Companies Part 2 – Managing the Risks
Although the qualifying company (“QC”) regime was superseded by the look-through company regime on 1 April 2011, qualifying companies existing at that date continue to operate under the QC regime. This is the second of two webinars examining the taxation of QCs.
To remain a qualifying company, it is necessary to satisfy a number of requirements and it is easy to inadvertently breach these requirements. Such a breach could have significant adverse tax consequences for the affected shareholders and creates potential risk of a claim against their advisers.
This webinar will examine the requirements a company must continue to satisfy to remain a qualifying company and strategies for managing the associated risk, including
• Shareholder count requirements
• Continuity requirements
• Re-election requirements on shareholding changes
• Restrictions on CFC and FIF interests, and foreign non-dividend income
• Requirements on trustee shareholders to distribute dividend income
Upon satisfactory completion of this activity you will:
• Be aware of the shareholding and election requirements that need to be satisfied to remain a QC
• Be aware of the other criteria that must continue to be satisfied for a company to remain a QC
• Be better informed to manage the risks associated with the QCs in your client base
Total of CPD Hours: 2.5 (1 Hour 15 min per webinar)
Suited to:
This webinar is intended for accountants whose client base includes qualifying companies. It will provide the experienced practitioner with a refresher on the criteria a QC must satisfy to remain a QC , as well as providing newer (or not so new) practitioners with the knowledge they require to work with qualifying companies and ensure their clients do not inadvertently fall out of the regime.
PRESENTERS:
Stephen Richards, Partner – Tax Advisory Findex/Crowe
Stephen Richards is Partner in the Tax Advisory team at Findex. Findex is one of the largest providers of integrated financial advisory and accounting services to individuals, SMEs, and corporates in Australasia.
Stephen has been practising in tax advisory for over 20 years and is a sought-after speaker on tax topics, including for CCH, CAANZ, and TEO Training courses and lecturing in taxation practice at the University of Otago.