Tax Happy Hour 1 – 2024

Tax and the service provider

The income tax treatment of activities conducted by service providers, including but not limited to Accountants, Lawyers, Architects, Engineers, Hair Salons, Spa’s, Electricians, Builders, Security, Gymnasiums, Car Mechanics etc can be complex.

In the February Tax Happy Hour, we will explore some of the tax challenges facing the service provider including but not limited to the following:

• Effect that the Consumer Protection Act will have on service providers
• Prepayments and section 24C
• Gift Cards
• Franchise fees
• Tax treatment of “Work in Progress” for the service provider
• Tax treatment of payments to sub-contractors
• Prepayments and section 23H
• Tax effect of agency agreements – VAT and Income Tax

The session will be highly practical and will assist members in providing valuable industry specific advice to their clients in the services industry.