Taxation

Overview

Taxation is a critical part of your role as Chartered Accountant and relevant to all aspects of life – both business and personal. All business decisions have tax implications that you need to understand as an accounting professional.

This module examines and applies relevant Australian tax law to various tax entities. It is practical in nature and you will be required to explain and calculate the taxation consequences applicable to a range of real-life simulated scenarios, including a comprehensive case study which integrates the various units.

The TAX module is one of the five compulsory modules in the Chartered Accountants Program. It requires a good understanding of the principles of taxation from your previous tertiary studies. 

Units within the TAX module

  • Australian taxation fundamentals
  • Trading stock
  • GST and other taxes
  • Taxation of employment remuneration
  • Capital Gains Tax (CGT) fundaments
  • CGT – exemptions, rollovers and special topics
  • Deductions for capuital expenditure
  • Small business entities (SBEs)
  • Taxation of individuals
  • Taxation of companies
  • Taxation of partnerships
  • Taxation of trusts
  • Taxation of superannuation funds
  • Tax consolidation regime
  • Taxation of financial transactions
  • International taxation issues
  • International tax: anti-avoidance
  • Tax planning and anti-avoidance provisions
  • Tax administration in Australia
  • Recent developments and tax reconciliation.

How is the TAX module taught?

The TAX module is 12 weeks in duration and offers flexible learning options with the delivery of materials online through myLearning (accessible after you enrol in the module by logging into myAccount and selecting myLearning).

You will also be required to purchase a prescribed text.

Additional learning support is provided through peer discussion forums as well as via the Technical Query Forums (TQFs), where you will be able to ask questions of a taxation specialist. You also have the option of attending virtual classrooms and accessing an audio recording.

The expected minimum workload for an average candidate with the required assumed knowledge for the TAX module is 120 hours. This includes time for reading the material, working through the examples and the completion of activities.

Additional time will be required if you choose to attend optional virtual sessions and to prepare for and attempt the exam and other assessments.

How am I assessed?

You are assessed as follows:

  • Three online assessments – 20% in total
  • Final examination – 80% in total.

To pass the module you will need to:

  • Pass the final examination (achieve 50% or more of the available examination marks), and
  • Pass the module overall (achieve 50% or more of the available module marks).

Module summary

The TAX module will develop your technical skills to enable you to explain and calculate the taxation consequences that apply in a range of scenarios. Armed with the latest international disciplinary and business knowledge you will be able to solve problems; collaborate effectively with individuals and teams; demonstrate strong taxation skills; and provide professional advice confidently, in all sectors.

Versions for Australia and New Zealand

Different versions of the TAX module are offered in Australia and New Zealand. If you want to attain the GradDipCA qualification, you must do the Australian TAX module, to meet the requirements of the relevant Australian education regulator. If you reside in New Zealand when enrolling in the TAX module, you will automatically be enrolled in the New Zealand version.

Applications to register for the Program with accounting qualifications obtained in either Australia or New Zealand will be assessed on the same bases. That means that a graduate of an accounting degree accredited by the New Zealand Institute of Chartered Accountants who would like to register for the Program in Australia will not be required to do bridging subjects in Australian company and taxation law. Such a candidate will be responsible for ensuring that they have the assumed knowledge for each module.

 

For more information and to enrol

Take a look at the timetable to find out when you can next enrol in this module.  

Article last updated 29 July 2014