KPMG TAX CONSULTING VIRTUAL INTERNSHIP | MODULE 1 SOLUTIONS

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In this video, I go back to where it all began with another KPMG Virtual Internship. This time we are looking at the Tax Consulting Internship.

In this module, I create a memo in regard to a stock buy-back plan proposed by UPL. The memo advises UPL to apply for a class ruling by the Australian Tax Office (ATO) in order to provide accurate tax information to shareholders through a public platform.

The class ruling should cover at least 4 key issues:

1. Capital proceeds impact shareholder’s capital gain or loss in relation to the buy-back
2. Portion of buy-back price treated as a dividend for tax purposes
3. ATO will not deny shareholders the benefits of franking credits on the dividends paid
4. Decrease gross capital proceeds of buy-back by taxable cash dividends (double tax)

Google doc link:
docs.google.com/document/d/1SPE19hrZB3e33MJJ2Z-lDi…

Music Credit:
   • Lioness (Instrumental) – DayFox (No Copyri...  
Lioness (Instrumental) by DayFox soundcloud.com/dayfox