Interest expenses and interest income are line items for virtually every single taxpayer. It is however also a section that most people presume they understand. The intent of this section is to provide a detailed discussion on how you are required to account for these everyday items in your tax return.
After attending this course, delegates will have gained an understanding of the competencies mentioned below and must be able to apply the concepts and techniques in most situations and environments:
• Understanding whether they should use the cash amount or an imputed amount.
• Understanding how to calculate the imputed amount
• Understanding how to adjust the tax return for early redemption or sale of instruments
• Understanding the anti avoidance provisions and special concessions housed in the section.
The aim of this session is to cover the core ideas of s24J and how they apply to interest
• Instrument versus income instrument
• Cash flow versus internal rate of return versus yield to maturity
• Differences in treatment between debt traders and other taxpayers
• How to account for the early sale of a instrument
This course would be useful for all persons who provide tax advice for any clients. It would also be useful for any persons who are responsibility for the tax compliance of their businesses or their clients. Any delegate that is looking to get a refresher on the above topics would also be welcome.
Kindly note that edited recording links will be made available 48 hours after the webinar has taken place to all delegates WHO have registered and attended the webinar. If you are unable to attend the webinar please send us an e mail requesting the recording
Material link: You will only be able to access the material once you are logged-in. The electronic material will be made available 45 minutes before the start of the session. It will be available as a download on the platform, on the right-hand panel on your screen under the option “handouts”
