Description

In the light of the increased top personal tax rate

This webinar covers key income tax considerations that advisors and their clients need to be aware of in allocating income to family members and associated entities. The webinar focuses on the impact of the Penny & Hooper case in the light of the recent increase in the personal top marginal tax rate.

Ten years ago, the Supreme Court ruled in IR’s favour in the ‘Penny & Hooper’ case. This set the principle that while a structure or arrangement may be lawful, the outcome may not be. With the recent increase in the personal top tax rate, we find ourselves, once again, in these murky waters. The case and the tax rate change bring a broad range of activities and circumstances into question. In this webinar we will review the principles, risks and factors to be considered in this area.

Topics we will be covering will be:

• Penny & Hooper V CIR
• Revenue Alert 10/01
• Philippa White v CIR
• PUB 00305 – Dec 20
• Revenue Alert 21/01

ORIGINAL BROADCAST DATE

14 September 2023

LEARNING OUTCOMES

Upon satisfactory completion of this webinar you will be able to:

• Have an increased understanding of the income tax issues associated with income attribution
• Make better decisions in allocating profits at year end
• Have more confidence in advising SME clients on income attribution

SUITED TO

This webinar is suited to intermediate through to advanced accountants in public practice and is also suitable for corporate accountants.

PRESENTER

Mike Hadwin, Director, Symmetry Advisory Ltd (presenting on behalf of TEO).