< Back

Tax Deductions Essentials Webinar 2024

Recorded 11 April 2024. The framework for determining if and how a deduction is available.

Step-by-step guide to determine whether a deduction can be claimed
Timing issues: now, later or a mixture of both?
Key changes, the latest ATO guidance and lessons to be learned from recent cases

Recorded 11 April 2024

Tax deductions are often the subject of dispute between the ATO and clients. This means that it is important for practitioners to stay up to date with developments as they arise, especially because practitioners often need to exercise a degree of judgment in determining whether a deduction can be claimed.

The Tax Deductions Essentials Webinar provides you with a framework for understanding when deductions can be claimed and how to apply the timing rules.

We explore the revenue and capital distinction, but also look at some of the key rules which can allow deductions to be claimed for capital expenses. Ensure your team is up to speed with the latest developments, that clients aren’t missing out on deductions that are available to them and keep them under the ATO’s radar.

Total 1.25 CPD Hours

What we cover

The Tax Deductions Essentials Webinar aims to provide you with a framework for understanding when deductions are available.

The process for determining whether a deduction can be claimed
How to determine whether an expense qualifies for an immediate deduction or must be claimed over a number of years
Practical issues in determining whether a client has incurred an expense
Applying the prepayment rules and the exceptions which can sometimes enable prepaid expenses to be deducted upfront
How to navigate the revenue / capital distinction
When capital expenditure can still qualify for deductions either upfront or over 5 years under the blackhole expenditure rules
How to approach common (but difficult) problem areas such as legal expenses
Exploring the practical issues that arise from recent changes to the rules
The ATO's latest guidance on deductions

Matthew Tse

Tax Adviser, Knowledge Shop

Matthew is a Tax Adviser with Knowledge Shop assisting practitioners across the country to better understand how the tax laws apply. He has a genuine interest in tax and is a firm believer of thinking through complex problems from different angles.

Matthew has worked for the ATO, a tax consulting division of a mid-tier accounting firm and as an in-house tax manager for a Big Four professional services firm.