CBA SKILLED LAWYER SERIES 2018

Income for Tax Purposes:  What Corporate Lawyers Need to Know

A lawyer’s lack of knowledge about tax issues can have significant implications in the business law context. To avoid mistakes that can be costly for you and your clients, it is important to understand the difference between financial income and tax.

In this webinar, our knowledgeable speakers will explain how corporate lawyers can use tax returns to glean helpful information. Topics will include:

• How financial statements do not reflect the tax position of a company
  • Consolidated vs. entity basis
  • Cost of assets in financial statements vs. cost for tax purposes
  • Differences in timing

• Key concepts to consider including:
  • Accounts receivable
  • Capital gain
  • Depreciation and amortization
  • Stated capital vs. paid-up capital

• Retained earnings vs. safe income

• IFRS/ASPE and tax
  • Deferred tax liabilities
  • Deferred tax assets

• Valuation issues

• Use of corporate tax returns as a due diligence tool

This is the 4th webinar of the Interpreting Financial Statements program.

Presenters