23 Tax Consequences of Insurance (Webinar Recording)
excl. GST - Broadcast Date: 6 September 2023
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Product Description
Most businesses take out a variety of insurance policies but not all policies are created equal when it comes to the tax consequences of premiums, excesses and payouts.
This updated course will cover various forms of insurance policies across multiple contexts to ascertain the relative tax consequences (for example, life insurance policies for key employees whereby the tax consequences may be dependent on the underlying detail of who is entitled to what).
We will consider:
• deductibility
• assessability
• FBT
• other matters across life, keyman, indemnity and property-based insurance products within a range of common scenarios.
Upon satisfactory completion of this activity you will be able to:
• identify the general principles and objectives of various types of insurance policies
• understand the relative tax and GST consequences of both premiums and claims under those policies
• appreciate how different policy ownership structures can change the income tax and GST consequences.
Total of CPD Hours: 1.25 (1 Hour 15 min)
Suited to:
• Anyone in public practice who acts for businesses
• Corporate employees in accounting/tax roles
PRESENTER:
Scott Mason, Senior Tax Partner, Findex
Scott Mason has over 30 years’ experience advising on tax matters, primarily for larger owner-managed businesses throughout NZ. He is a regular presenter for TEO Training and CCH, and Chair of the CAANZ Tax Advisory Group. Scott is renowned for making complex issues understandable.