For entities with trading operations, the accounting for trading stock might be straightforward.
While the tax treatment thereof might be similar, there are definite rules set out in tax legislation that differs from the way we know from accounting.
We offer a session aimed at discussing the correct tax treatment of trading stock, including the provisions for share traders.
This session will address matters including, but not limited to, the following:
• A comparison between the accounting treatment of trading stock and the taxation treatment thereof
• Change in use adjustments that may need to be made for:
o Income Tax (including CGT)
o VAT
• Practical application of the principles covered
• A discussion of the tax implications for share traders, as well as possible CGT consequences on share trading transactions
