Tax professionals will appreciate that keeping up-to-date with constant changes to the tax law is an exhausting exercise. However, with the increasing reliance on accounting standards and principles to determine income tax outcomes, tax professionals must also keep abreast of key changes to accounting rules.
This event identified the key, wide ranging, recent developments in accounting standards and principles that may impact income tax outcomes. Income tax rules that are particularly impacted by accounting standards include TOFA 3&4, tax consolidation asset tax cost setting rules and the thin capitalisation rules. The developments may impact existing arrangements and also proposed transactions (including M&A transactions).
This event provided guidance on key recent tax developments and their consequential tax-effect accounting impacts.