This course
describes the skills and knowledge required to research, identify and analyse
the taxation requirements, including taxation administration, that apply to
particular clients and circumstances.
It applies to individuals who provide tax (financial) advice services as defined in the Tax Agent Services Act 2009. Individuals providing such services are generally required to be registered tax (financial) advisers.
This course meets the Australian Tax Practitioners Board (TPB) educational requirements for Tax Agent registration and or renewal of registration.
This course in taxation law for tax (financial) advisers covering the following key areas:
- Australian Income Tax Law Concepts: This includes concepts of income, deductions, tax offsets/rebates, residence, source, including the principles of the taxation of negative gearing, fixed income investments, capital allowances and income protection/ replacement.
Australian Income Tax Treatment: This includes the tax treatment of individuals, partnerships, companies and trusts including treatment of imputation credits, deferred and tax free trust distributions.
Employee Remuneration: This includes fringe benefits tax, salary packaging, termination payments and employee share schemes.
Capital Gains Tax (CGT): This includes CGT event A1 happening on disposal of an asset, the CGT discounts, the CGT consequences of death (estate planning) and the main residence exemption (and its application to investment properties), the availability of CGT concessions for small business, roll-overs, deemed disposals and gifts.
Superannuation: This includes key areas concerning taxation of contributions, fund earnings and benefits. At times expert advice may need to be sought on self-managed superannuation funds (SMSFs) and more detailed topics.
Tax anti-avoidance provisions (especially those relating to promoter penalties).
Ethical and Professional responsibilities of tax (financial) advisers including obligations under the TASA and TASR.
Goods and Services Tax (GST)
Tax administration including assessments, amendments and objections, but not preparation of returns or communications on behalf of clients with the Australian Taxation Office.