Business Deductions, Stock & Tax Course

Learn and Understand Business Taxation and Deductions Involved

What you'll learn

The General deduction

Specific deductions

Deductions specifically not allowed in determination of taxable income

Prepaid expenditure – Section 23H

Trading Stock

Requirements

No prior knowledge needed

Description

As a tax professional, learners are immediately confronted with large volumes of detailed tax theory, and struggle to understand how the theory fits into the end goal of preparing tax computations.This course has been designed to develop a foundation of simple application upon which the complexities of taxation can be built at a later stage. The approach is practical rather than theoretical.Topics Discussed:The General deductionTradeTax VS AccountingExpenditure and lossActually incurredDuring the year of assessmentIn the production of incomeNot of a capital natureSpecific deductionsDouble deductions – section 23BVAT – section 23CLegal ExpensesRestraint of trade paymentsRegistration of patents, copyrights, designs and trademarksAcquisition of patents, copyrights and designsResearch and Development expenditureBad DebtsDoubtful DebtsEmployer Contributions: Pension, provident and benefit fundsDonations to public benefit organizationsAnnuities paid to former employees on retirementDeductions specifically not allowed in determination of taxable incomePrivate and domestic expenditure – Sections 23 (a) and (b)Insured losses – Section 23 ©Tax, penalties and interest on tax – Section 23 (d)Provisions – Section 23 (e)Expenses to produce exempt income – Section 23 (f)Non-trade expenditure – Section 23 (g)Restraint of trade payments – Section 23 (l)Expenditure relating to employment – Section 23 (m)Fines and corrupt activities – Section 23 (n)Prepaid expenditure – Section 23HTrading StockSection 22Closing StockOpening StockCost for the purposes of section 22Stock acquired for no considerationPeriods shorter than a year of assessmentPrivate and domestic consumptionAll Included:Video presented courseDownloadable course materialCertificate of trainingAssessment (optional)SAIT Accredited - 4 Verifiable CPD Points

Overview

Section 1: Business Deductions, Stock & Tax Course

Lecture 1 Part 1

Lecture 2 Part 2

Lecture 3 Part 3

Lecture 4 Part 4

Lecture 5 Part 5

Lecture 6 Part 6

Business Owners,Financial Managers,Finance Professionals,Bookkeepers,Business Professionals