Tax for Financial Advising

On successful completion of Tax for Financial Advising, individuals should be able to:

• Describe the fundamentals of the taxation system within Australia, including the basics of the income tax system for individuals, non-residents, minors, partnerships, companies and trusts, and the Medicare Scheme
• Explain the rules relating to goods and services tax, fringe benefits tax and capital gains tax, including capital gains concessions available to small businesses
• Define a tax deduction and tax offset, describing the different deductions and offsets available and eligibility criteria
• Explain the taxation rules applying to superannuation benefits, employment termination payments and life insurance policies
• Identify the role of the financial adviser in taxation planning and describe common strategies employed
• Identify how the Privacy Act applies to professionals operating in the taxation planning area
• Demonstrate an understanding of the superannuation industry in Australia in relation to retirement planning and the tax implications
• Explain the various options and tax implications available for using superannuation benefits
• List the advantages and disadvantages of self-managed superannuation funds
• Explain the importance of a trust deed and determine the most appropriate trustee structures for a fund

Individuals have a total of 12 weeks to complete the learning and assessment requirements for Tax for Financial Advising from their initial activation date.

An additional four weeks (4) per is available if required to re-sit an exam.

For a guide on the number of study hours for Professional Year formal training, click here.

Completion

A certificate of completion will be awarded on successful completion.

• Topic 1: Introduction to taxation
• Topic 2: Features for the Australian taxation system
• Topic 3: Essential taxation and superannuation principles
• Topic 4: Capital gains tax
• Topic 5: Deductions, offsets and cash flow