Australia Taxation

Online Class

  • 5 Weeks of live tuition via webinar
  • 2 classes/week of 2 hours each (total 4 h/w)
  • Access to recorded webinars throughout the semester
  • 30 min Q&A time after every session
  • Exam critical areas
  • Summary notes guidance
  • Customised diagrams and flowcharts
  • Exam tips and techniques
  • ClickMeeting webinar

Timetable

Commencement: 06-Jan-20

Finish: 30-Jan-20

Days: Monday + Thursday

All times are at Australian Eastern Standard Time

Class Timetable

No upcoming events.

Site Content

Subject outline

 Australia Taxation is divided into 11 Modules

Module 1 - Legal, ethical and regulatory fundamentals

Module 2 - Principles of assessable income

Module 3 - Principles of general and specific deductions

Module 4 - Capital allowances

Module 5 - CGT fundamentals

Module 6 - Taxation of individuals

Module 7 - Taxation of SBEs and partnerships

Module 8 - Taxation of trusts, companies and superannuation funds

Module 9 - FBT fundamentals

Module 10 - GST fundamentals

Module 11 - Administration of the tax system


The brief content of these modules are as follows:


Module 1 - Legal, ethical and regulatory fundamentals

• Tax law environment

• Ethical principles and behaviour

• Identifying ethical dilemmas

• Tax practitioner obligations

• TPB Code of Professional Conduct

• Tax planning, avoidance and evasion


Module 2 - Principles of assessable income

• Defining and determining income

• Determining source of income

• Tax implications of residency and non-residency

• Derivation

• Determining derivation for tax purposes

• International taxation core concepts

• Trading stock core concepts


Module 3 - Principles of general and specific deductions

• General deductions

• Specific deductions

• Limitations of deductibility

• Substantiation requirements for individuals


Module 4 - Capital allowances

• Small business entities (SBEs)

• Capital allowances core concepts

• Capital allowance rules for non SBEs

Capital allowance rules for SBE

• Defining capital works

• Calculating capital works deductions


Module 5 - CGT fundamentals

• CGT core concepts

• CGT events

• CGT assets

• Determining gain/loss from CGT event

• Determining exception or exemption

• Rollover provisions and other reliefs

• Calculating net capital gain/loss


Module 6 - Taxation of individuals

• Individual taxation core concepts

• Defining types of assessable income

• ETPs, PSI and ESS schemes

• CGT relief for individuals

• Taxing superannuation for individuals

• Calculating allowable deductions

• Applying tax offsets

• Calculating tax payable


Module 7 - Taxation of SBEs and partnerships

• SBE concessions core concepts

• Calculating the small business income tax offset

• Small business restructure rollover

• Partnership taxation core concepts

• Determining the net partnership income/loss

• Calculating a partner’s share of tax payable

• Alteration of partner’s interest


Module 8 - Taxation of trusts, companies and superannuation funds

• Trust taxation core concepts

• About Division 6

• Determining net income of a trust

• Discrepancies and capital gains

• About trust distributions

• Family trusts

• Administration and reporting for trusts

• Company taxation core concepts

• Calculating taxable income

• Dividend imputation system

• Superannuation fund taxation


Module 9 - FBT fundamentals

• FBT core concepts

• Calculating FBT

• Specific fringe benefits

• Exempt fringe benefits and employees

• Salary packaging

• Administration

• Reportable fringe benefits


Module 10 - GST fundamentals

• GST core concepts

• Determining supply

• Input tax credits

• Calculating GST

• Administration


Module 11 - Administration of the tax system

• Income tax self-assessment

• Lodging of tax returns and assessments

• Tax audits

• Objections, reviews and appeals

• Tax reporting and payment obligations

• ATO guidance documents and rulings

• Penalties and interest charges

• Identifying Part IVA

• Promoter penalty regime.