This unit describes the performance outcomes, skills and knowledge required to prepare non-complex income tax returns for individuals in accordance with statutory requirements, and encompasses gathering and verifying data, calculating taxable income and reviewing compliance. This unit applies to accountants and tax specialists who prepare non-complex tax individual returns.
This unit meets the Australian Tax Practitioners Board educational requirements for Tax Agent registration and or renewal of registration.
This course in Taxation law for tax agents covering the following key areas:
ØIntroduction to income tax,
ØAssessable income,
ØCapital Gains,
ØExempt income and non-assessable non-exempt income,
ØAnnuities and foreign investments,
ØTermination Payments,
ØSmall business entities,
ØTrading stock,
ØGeneral deductions,
ØSpecific deductions,
ØDecline in value and capital allowances,
ØTax offsets,
ØIncome tax returns - individuals, and
ØTax losses.