Tax Treatment of Associated Person Transactions 2018 - 4 December 2018 (On Demand)
The income tax and GST legislation is riddled with special rules impacting transactions occurring between related parties. Make sure you don’t get caught out!
At the heart of it, associated party transactions involve entities which are legally separate but not economically independent. In the absence of third-party commercial tension, the income tax and GST rules assume that associated person transactions involve value manipulation or tax avoidance. Examples include:
- Dividend rules: distributions of property to shareholders and to persons associated with shareholders are subject to the dividend rules. For example, a company makes a low interest loan to a trust which is associated to a shareholder of the company.
- Land tax rules: land acquired by a person associated to a developer, dealer or builder is subject to tainting.
- GST: supplies between associated parties are subject to market value, timing and second hand goods input tax limitation rules.
- Other impacts include, depreciable assets, employment and FBT, trading stock, approved issuer levy and transfer pricing.
- In this webinar we will identify when, companies, partnerships, trusts and other persons are associated, and identify which transactions are subject to these special rules.
A broad overview of how the income tax and GST legislation treat transactions between associated parties.
ORIGINAL BROADCAST DATE
4 December 2018
Accountants, lawyers, directors, trustees, Real Estate agents. The webinar is at an intermediate level.
Maurits van den Berg, Senior Manager Taxation Services, Staples Rodway Limited
1.25 CPD Hours
On Demand Event
Complete online in your own time (Self-paced)