Selected Issues in Taxation

Description

Lawyers, as well as Accountants, have an important role to play in the field of taxation, particularly in advising clients in respect of their liability to tax, in acting for them in dealings with the Inland Revenue Department and appearing for them before the Taxation Review Authority and the Courts.  This course discusses some of the key areas in the field of taxation that are relevant to lawyers in practice.

The course will include:
•  Introduction - Overview of the tax system, the rewrite of the Income Tax Act.  
•  Tax jurisdiction - the concept of residence and derivation of income.  
•  The concept of income and capital – including the taxation of business profits and personal property sales.  
•  The tax treatment of items of expenditure including the treatment of interest costs, the prohibition for deducting capital expenditure and the treatment of repairs and maintenance.  
•  Goods and Services Tax – an introduction.
•  The role of lawyers in tax investigations and dispute resolution.  Legal professional privilege and tax advice privilege will be reviewed.  The topic will also consider the John George Russell and the "Russell tax template".
•  Tax planning, tax avoidance, the abusive tax position and tax evasion.  Recent cases will be reviewed.  
•  Review of taxpayers' rights and obligations.  The Inland Revenue's Taxpayers Charter will be considered.