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Description

Is severance payment taxable income or non-taxable retrenchment benefit? How the tax treatment of severance payment is mostly a question of fact, can be drastically altered based on its characterisation.

This session discusses the characteristic of the employment income. A detailed discussion of the taxation of individuals is beyond the scope of this session

The High Court has recently published a judgement related to section 10, and it is timely to be exploring this topic. Our Tax 101 series is aimed at tax and non-tax trained junior executives or anyone who has an interest in understanding the Singapore Tax system. This session is a mix of practical experience and academic knowledge.

Programme Outline

  • Singapore tax system
  • Taxation of individuals in Singapore
  • Basic tax concepts relevant to an individual
  • Capital versus revenue receipts of an individual
  • Exploratory case study - CIT v Forsyth, John Russell [2020]
  • Q&A

What you will learn

By the end of this session, attendees should be able to obtain a systematic understanding of knowledge of (to evaluate the effects thereon) the employment income in the wide interdisciplinary concept, on differentiating between a severance payment and an ex gratia payment. 

Target Audience

An intermediate level program intended for tax accountants, business accountants, auditors. 

Expert Speaker

Kevin Matthaios Lee 

Kevin, a business finance professional, is also a Subject-Matter Expert (SME) in the tax practise of a mid-tier professional services firm, while simultaneously holding a position as a trainer/facilitator where he shares his insights on the global issue in FRS, political science and economics and international business law. He has been a speaker at various seminars, and network (exclusive) events, inter alia, Wolters Kluwer (CCH), ISCA, CIMA and ACCA. 

Register for this session on its own or register as part of the 5 webinars bundle or 10 webinars bundle and save up to 58%

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One-Connection-One-Fee

Our webinars operate on a 'one-connection-one-fee' basis, so you can have your whole team participate together in a boardroom setting for one cost effective price, using one registered log-in connection. The registered attendee will receive a CPD certificate.

Recordings

Like the topic but can’t make the time? Register for the Live Session and you’ll receive the Recording regardless! Recordings are provided for webinars with a duration of 3 hours and less.