Course Detail(TAX250 : GST: Understanding Input Tax Recovery Rules)

SDF Funding, SkillsFuture Credit

TAX250 : GST: Understanding Input Tax Recovery Rules

7.00 CPE Hours (Others)
Classroom


Programme Objective

GST-registered businesses can claim GST on their imports and expenses incurred for business purposes. However, there are certain expenses that are not claimable. Businesses who make both taxable and exempt supplies may not be able to claim the full amount of allowable input tax. Wrongful claims are common errors noted during the IRAS’ audits. Penalties could be imposed for these errors.

This workshop aims to provide participants with a better understanding of the input tax recovery rules.
 

Programme Outline

  • Input Tax Recovery Rules
    • Qualifying conditions
    • Disallowed / blocked expenses
    • Time of claiming
  • Supporting Documents
    • Tax Invoice
    • Customer Accounting Tax Invoice
    • Simplified invoice
    • Import Permit
  • Ascertaining the amount of GST claimable
    • Impact of partial exemption
    • De-minimis rule
    • Attribution / Apportionment
  • Specific Expenses
    • Gifts
    • Fringe Expenses
    • Business Expenses


Training Methodology

Lecture style, with Case Studies and Examples

Closing Date for Registration

1 week before programme or until full enrolment

Intended For

An Intermediate level programme for Accounting and Tax Professionals who are involved in the GST compliance process.

Competency Mapping

Others = 7.00 Hours

Schedule & Fees

Date & Time

09 Mar 2020 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 345.61
For Non-Members: $ 415.16

Programme Facilitator(s)

Catherine Chiang

Venue

60 Cecil Street
ISCA House
Singapore 049709

Date & Time

04 Sep 2020 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 345.61
For Non-Members: $ 415.16

Programme Facilitator(s)

Catherine Chiang

Venue

60 Cecil Street
ISCA House
Singapore 049709

Date & Time

20 Nov 2019 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Catherine Chiang

Date & Time

19 Aug 2019 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Catherine Chiang

Testimonial

Funding

1] SkillsFuture Credit (SFC)
Funding Period: Until 27 Jun 2020
Course Ref No.: CRS-N-0050102

All Singaporeans aged 25 and above will receive an opening credit of S$500 from the government. The credits will not expire and periodic top-ups will be provided by the government. SFC may be accumulated to pay for skills related course fees. You may wish to use your SFC to pay for partial/full ISCA course fees.  (For more information on the SFC scheme, please visit http://www.skillsfuture.sg/credit)

If you wish to enrol for the course with SFC Funding, please proceed with the following steps:

  • Step 1: Register for the course online via ISCA Portal. Upon adding to cart, the system will prompt a question “Do you wish to apply for SkillsFuture Credit?”, click “Yes” and input all required information. At the Cart page, please ensure that SFC funding is applied before clicking “Checkout”.
  • Step 2: After successful enrolment, please proceed to submit SFC claim on Skillsfuture Portal within 60 days before the course start date and obtain the necessary approval. Please submit SFC claim via SFC portal here: http://www.skillsfuture.sg/credit.

Failure to submit claim application and obtain necessary approval before the course start date will result in topping up of the SFC indicated for use. Please note that there will be an administrative fee of $42.80 for any revision of invoice.


2] WDA Training Grant - SDF Funding
This course is approved for SDF funding ($2 per training hour) for Company-sponsored participants only (Eligibility criteria apply). 

Funding Period: Until 27 Jun 2020
Funded Hours: 7 hours
Course Ref No.: CRS-N-0050102

If you wish to enrol participants with SDF Funding, please proceed with the following steps (For Corporate enrolments only) :

  • Step 1: Register for the course online via ISCA Portal. Upon adding to cart, the system will prompt a question “Do you wish to apply for WDA Funding?”, click Yes and input all required information. At the Cart page, please ensure that SDF funding is applied before clicking “Checkout”.
     
  • Step 2: After successful enrolment, please proceed to submit the Training Grant application via SkillsConnect Portal here: https://www.skillsconnect.gov.sg/

Employers of company-sponsored participants must submit training grant via SkillsConnect system to obtain training grant for course fees. You may submit the Training Grant application within the period from 30 days before the course start date to 30 days after course start date. Please note that there will be an administrative fee of $42.80 for any revision of invoice.

Eligibility Criteria:

  • Company must be registered or incorporated in Singapore and;
  • Applicant is taking the course for the first time.
  • Applicant must be employed, and is either Singapore Citizen or Permanent Resident of Singapore and;
  • Applicant must achieve at least 75% attendance, and pass all examinations /assessments and;
  • Applicant must be fully sponsored by the Company for all costs associated with the training and;
  • Payment has to be made via corporate means (e.g. corporate cheque, corporate GIRO, corporate credit card).

Programme Facilitator(s)


Catherine Chiang
CA (Singapore), ATA (GST), BAcc (Hons)
 

 Catherine has more than 20 years of experience in GST consultancy, with 10 years of training experience. She has previously spent 6 years in IRAS, handling GST and Income Tax audit and almost 10 years with 2 of the Big Four international accounting firms, specializing in GST compliance and advisory work. During this period, she has accumulated extensive experience in performing GST prudential reviews, GST consultancy, GST compliance 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 Institute of Accredited Tax Professionals and a member of the Institute of Singapore Chartered Accountants. Catherine is also an Advanced Certificate in Training and Assessment (ACTA) certified Trainer.


Programme Objective

GST-registered businesses can claim GST on their imports and expenses incurred for business purposes. However, there are certain expenses that are not claimable. Businesses who make both taxable and exempt supplies may not be able to claim the full amount of allowable input tax. Wrongful claims are common errors noted during the IRAS’ audits. Penalties could be imposed for these errors.

This workshop aims to provide participants with a better understanding of the input tax recovery rules.
 

Programme Outline

  • Input Tax Recovery Rules
    • Qualifying conditions
    • Disallowed / blocked expenses
    • Time of claiming
  • Supporting Documents
    • Tax Invoice
    • Customer Accounting Tax Invoice
    • Simplified invoice
    • Import Permit
  • Ascertaining the amount of GST claimable
    • Impact of partial exemption
    • De-minimis rule
    • Attribution / Apportionment
  • Specific Expenses
    • Gifts
    • Fringe Expenses
    • Business Expenses


Training Methodology

Lecture style, with Case Studies and Examples

Closing Date for Registration

1 week before programme or until full enrolment

Intended For

An Intermediate level programme for Accounting and Tax Professionals who are involved in the GST compliance process.

Competency Mapping

Others = 7.00 Hours

Programme Facilitator(s)

Catherine Chiang
CA (Singapore), ATA (GST), BAcc (Hons)
 

 Catherine has more than 20 years of experience in GST consultancy, with 10 years of training experience. She has previously spent 6 years in IRAS, handling GST and Income Tax audit and almost 10 years with 2 of the Big Four international accounting firms, specializing in GST compliance and advisory work. During this period, she has accumulated extensive experience in performing GST prudential reviews, GST consultancy, GST compliance 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 Institute of Accredited Tax Professionals and a member of the Institute of Singapore Chartered Accountants. Catherine is also an Advanced Certificate in Training and Assessment (ACTA) certified Trainer.

Upcoming Schedule

Date & Time

09 Mar 2020 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 345.61
For Non-Members: $ 415.16

Programme Facilitator(s)

Catherine Chiang

Venue

60 Cecil Street
ISCA House
Singapore 049709