Upon completion of the training, you will be able to:
list some tax risks for an acquirer of the personal services of an individual who incorrectly classifies the service provider as a contractor
explain the difference between income of a personal services business and income from a business structure
explain the thresholds which an arrangement entered into by a professional practitioner should pass as a prerequisite to self assessing tax risk associated with a profit allocation
explain how to calculate the effective tax rate for allocations of a professional firm’s profits in accordance with the Commissioner’s guidance
outline the purpose of the ‘relevant contract’ provisions under various state payroll tax legislation.
why professional practices are treated differently to other businesses
the relevance of the personal services income rules
profit splitting and profit allocation arrangements acceptable to the ATO
the employee contractor distinction
payroll tax implications for structuring professional practices
This webinar is presented by one of TaxBanter’s experienced tax trainers.
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