24 GST - Advanced Issues (Webinar Recording)
excl. GST - Broadcast Date: 5 March 2024
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Product Description
This webinar will consider some specific troublesome GST issues that are either subject to current IRD audit activity or IRD statements. This webinar will focus on the following issues:
1. Requirements for a taxable activity
Whether taxpayers are legitimately registered for GST has continued to be a focus of Inland Revenue. It has been writing to taxpayers regularly filing nil returns requiring them to confirm they have a taxable activity. What is required for a taxable activity and whether one exists has been the subject several recent Inland Revenue statements and technical decisions, and will be examined in this webinar.
2. Director’s Fees
Although the has been no changes in the GST legislation treatment of director’s fee since the Goods and Services Tax Act 1985 was enacted. It has continued to be an area that causes issues for taxpayers. This webinar will look at Inland Revenue’s recently publications that seek to clear up that confusion.
3. Unit Title Body Corporates
Another area where confusion arises, and which Inland Revenue has recently published guidance on, is how the GST rules apply to unit title body corporates. This webinar will consider Inland Revenue’s statement and the implications for the unit owners in a body corporate.
4. Court Awards and Out-of-Court Settlements
When does GST apply to a court award of damages or an out-of-court settlement is yet another area where the GST treatment is not always clear or obvious. This webinar will consider Inland Revenue’s updated guidance on this matter.
Upon satisfactory completion of this activity you will:
• Better understand what is required for a person to be carrying on a taxable activity and be GST registered
• Understand when GST does not and does apply to director’s fees
• Be aware of how GST applies to Unit Title Body Corporates and unitholders
• Understand the framework for determining when GST applies to court awarded damages or out-of-court settlements
Total of CPD Hours: 1.25 (1 Hour 15 min)
Suited to:
This webinar would suit anybody at intermediate level or higher working in an accountancy practice providing services to GST registered activities.
It is suitable for corporate accountants, those in public practice, and in general business.
PRESENTER:
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 25 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.