Study guide: Second Edition

A professional accountant is required to possess fundamental tax law knowledge and skills. Australia Taxation introduces fundamental concepts of income tax law, and provides an in-depth understanding of relevant Australian tax laws and their application in the areas of income tax law for individuals and simple business structures, capital gains tax, goods and services tax, and fringe benefits tax.

This subject also covers the tax administration system, and the ethical and professional obligations a tax (financial) adviser and a registered tax agent must comply with under the requirements of the Tax Practitioners Board and as a member of a professional accounting organisation.

On completion of this subject, you should be able to:

  • discuss the key provisions of the relevant taxation legislation
  • demonstrate an ability to apply relevant taxation legislation and related legal concepts to determine tax liability arising from common scenarios
  • analyse events and apply the legislation to provide strategic advice to stakeholders regarding tax issues arising from common scenarios.

Exam structure

The Australia Taxation exam consists of multiple-choice questions and extended response questions.

Subject content

The "weighting" column in the following table provides an indication of the emphasis placed on each module in the exam, while the "proportion of study time" column is a guide for you to allocate your study time for each module.

Module Recommended proportion of study time (%) Weighting (%) Recommended study schedule
1. Legal, ethical and regulatory fundamentals 6 6
Week 1
2. Principles of assessable income 10 10
Week 1 and 2
3. Principles of general and specific deductions 8 8
Week 2 and 3
4. Capital allowances 7 7
Week 3
5. CGT fundamentals 15 15
Week 4 and 5
6. Taxation of individuals 15 15
Week 5 and 6
7. Taxation of SBEs and partnerships 6 6
Week 7
8. Taxation of trusts, companies and superannuation funds 9 9
Week 7 and 8
9. FBT fundamentals 7 7
Week 8
10. GST fundamentals 9 9
Week 9
11. Administration of the tax system 9 9
Week 9 and 10
100 100

For further information, see the subject outline (PDF)