$213.64 +GST
This training is recommended for:
On completion, participants will be able to:
This webinar will be presented live 13/03/2025.
If claiming CPD hours, this course provides 1.25 Legislated CPD hours, the breakdown is as follows:
The ATO’s updated guidance on dealing with professional firm profits has caused many practitioners to reconsider how profits are allocated to themselves and their related parties. The Profits of Professional Services Firms Webinar explores the impact of the ATO’s guidance and how to determine the risk level that applies to practitioners.
The final guidelines applied for the first time in the year ending 30 June 2023 for many practitioners, although some practitioners have been able to take advantage of transitional arrangements. The transitional period ends on 30 June 2024 which means that many firms and their principal practitioners are still trying to determine what needs to be done to achieve a low-risk rating.
The ATO has signalled its clear intention to delve into arrangements and business structures commonly used by accountants, lawyers, medical practitioners and other professionals. The ATO is specifically concerned with professional practices operating through trusts, companies and partnerships of discretionary trusts and how the profits from these practices are being taxed.
Professional firms have clearly been put on notice that Part IVA could potentially apply depending on how profits of the firm are dealt with. Now is the time to act.
What we cover:
The Profits of Professional Services Firms Webinar explains what you can and can’t do if you want to stay under the ATO’s radar.
Registration to this event includes:
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This webinar is presented by our partners at Knowledge Shop.