Tax planning is “the activities taken to minimise tax liabilities to ensure all available allowances, deductions, exclusions and exemptions are working together in the most tax-efficient manner to reduce the total TAX COST”.
Tax planning strategies are typically employed to help a business achieve their financial and business goals. There are benefits of tax planning for both large and small businesses and planning plays an important role in:
• Lowering the amount of taxable income
• Reducing the tax rate
• Allowing greater control of when taxes get paid
• Maximising tax relief/tax credits available
There are always new laws and changing allowances, so regular reviews are important, There are also different types of business tax planning strategies.
[B] COURSE BENEFITS
• Be able to plan your business expenditure to ensure maximum deductions
• Ensure that your capital expenditures obtain maximum allowances
• Understand the fine points of classification and deductions
• Ensure that your tax estimate and liability are minimised
• Maximise double deduction
[C] WHO SHOULD ATTEND
• Chief Financial Officers
• Financial Controllers
• Finance Managers
• Tax Consultants
• Company Secretaries,
• Tax Practitioners/Advisors
[D] DATE, TIME & FEE
DATE: 24 May 2021 (Mon)
TIME: 9.00am - 5.00pm
MODE: Online/ Interactive
CPD: 8 Hours
[HRDF CLAIMABLE | SBL KHAS]
- Early Bird Offer (before 7 May 2021) - RM 570
- Special Offer (before 20 May 2021) - RM 620
- Normal Fee - RM 670
>> Fee includes Course Notes, Certificate of Completion and 6% Service Tax.
** OFFER **
- 10% Cashback for SST2u Learner Card+ (SLC+) members. T&Cs applied.
[E] COURSE OUTLINE
Here are a few areas where an advisor would be able to benefit you and help you to save tax:
Budget Announcements & Implications
• Tax issues of Budget 2020
• Implications of Budget for companies
• Potential tax planning opportunities arising from Budget 2020
• Re-look into past Budgets, their implications and if they are still relevant
Tax Computations & Administration
• Computation of statutory income from Business
• Computation of statutory income from Investment
• Tax Computation for a Financial Year
• Tax Administration for a Financial Year
• Important dates for Tax Submissions
Understanding Tax Deductions
• What are tax deductions
• Common tax deductible items
• Common non-allowable items:
o Expenses that are not incurred
o Capital expenditure
o Nondeductible expenses
• Overview of important single and double deductions and exemptions
Capital Allowances (CA) on Purchase of Fixed Assets
• Types of capital expenditures that qualify for tax relief
• Meaning of machinery or plant and industrial building
• Persons entitled to Capital Allowances & Industrial Building Allowances
• Calculating the Allowances (Initial, Annual, Accelerated, Balancing & Notional)
• Double claim of capital expenditure by claiming on CA and under other asset based driven incentives (i.e. reinvestment allowance, infrastructure allowance, etc)
• Small Value Assets and Accelerated capital allowances and deemed industrial buildings
Tax Incentives & How To Utilize Them
• Major tax incentives available:
o Tax exemptions
o Capital expenditure allowances
Questions & Answers
[F] SPEAKER PROFILE
C.A. (M), FCCA, FFA
Tharmaseelan C.A (M), F.C.C.A, MIAE has vast experience in the field of Accounting, Taxation, Internal Control Systems and Finance for almost 15 year in an international accounting firm and local consultancy firms.
His career spanned across wide working experience and exposure in Accounting, Taxation, implementing Internal Control Systems and Finance in consultancy firms, a leading hotel in Langkawi and in a leading hotel training college. He has also developed Business, Accountancy and IT Programs with various colleges, and these programs are validated by foreign universities and professional Bodies.
He was attached to a medium size audit firm as a Senior Audit Assistant before he moved over to an established international tax company where he held the position as a Tax Senior. He then joined an established professional firm as the Tax Manager where he oversaw the computation, submission and resolving tax issues for clients.
His tenure with an established Consultancy as a Senior Consultant gave him the opportunity to designed internal control systems & implemented it. He also advised his clients on compliance with accounting standards and tax regulations. His last position prior to going into practise was as the Associate Director of The Business School where he was responsible for restructuring the Busines School and identifying suitable courses and obtaining accreditation from various bodies and universities.
He is currently in practice offering his expertise and knowledge to corporate and professional clients, locally and worldwide. His specializations are in designing and setting up of Accounting, Taxation, Finance, Internal Control and Operational Systems as well as in performing Operational Audits. His well-esteemed clients include those in the hospitality, education, manufacturing and service-based industries.
He has trained personnel from numerous private sector companies and the public sector, including MK Land Berhad, KULIM HI TECH Berhad, including, Majlis Bandaraya Shah Alam, Permodalan Nasional Berhad, Institut Jantung Negara, Tradewind Hotel Group, Bintulu Development Authority, Ritz Carlton Hotel, Putrajaya, IOI Resort, Majlis Perbadanan Sibu, Lembaga Urusan Tabung Haji, Tenaga Cable Industries, Yeo Hiap Seng, Kobe Precision, Eon Finance, International Islamic University, Petroliam Nasional Bhd, Progressive Insurance Bhd, Subang Jaya Medical Centre, The MINT Hotel, KLIA Pan Pacific Hotel, Bank Rakyat, Toshiba Electronics, UDA Holdings Bhd, Komag USA, Bank Industri & Teknologi (M) Bhd, PPB Group and TH Plantations to name a few.
As a qualified Accountant, he is actively involved in conducting audit and financial courses. His experience brings him to faraway countries such as Vietnam, Brunei, Nepal, Uganda and Rwanda to train Accounting and Financial Professionals.
He is also a regular training facilitator for
1. Malaysian Institute of Accountants
2. Certified Public Accountants of Australia
3. Malaysian Institute of Management
[G] ENQUIRY & REGISTRATION
Teo (011 - 3178 9203)
Logesh (012 - 503 0346)
Siti (012 - 383 8603)
Han (019 - 323 0507)