ACCA-Wolters Kluwer Joint Event: GST Consideration on Non-Business Receipts – Business Test and the Impact on Input Tax Claims

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Description

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A GST registered organisation (taxable person) may undertake various activities, some of which are business in nature while some may be regarded as non-business for GST purposes. A taxable person is not entitled to claim input tax credits for GST incurred in respect of his non-business activities.

To determine whether there exists a business, particularly where the situation does not appear to fall clearly within the statutory definition, the Comptroller of GST will make reference to the common business tests.

This workshop will provide you with a practical understanding of the GST treatment on non-business receipts and the appropriate apportionment of input tax claims.

Programme Outline

• Business test: Business or non-business receipts?
• Non-business receipts or Taxable supplies?
• Grants
• Donations
• Sponsorships
• Input tax recovery rules
• Common Pitfalls to Avoid

Target Audience

• Finance Managers and Executives
• Accountants and Accounts Executive (involved with the preparation of GST returns)
• Anyone involved in GST compliance

Expert Speaker

Catherine Chiang

Catherine is a Senior GST Consultant. She had spent 6 years in the IRAS, and almost 10 years with two of the Big Four international accounting firms. She has extensive experience in performing GST prudential reviews, GST consultancy, GST compliance, GST audits and GST training for clients.

Catherine has a Bachelor of Accountancy (Honours) degree from the National University of Singapore. She is an Accredited Tax Advisor (GST) registered with the Singapore Chartered Tax Professionals and a member of the Institute of Singapore Chartered Accountants. She is also an ACTA certified Trainer.