Study guide: sixth edition
Australia Taxation is designed to provide you with an awareness of the key provisions of the relevant taxation legislation and enable you to apply the relevant legislative concepts to determine taxation consequences. It is important to consider the taxation impact on individuals, partnerships, companies, trusts and superannuation funds.
On completion of this subject, you should be able to:
- understand the key administrative components of the Australia taxation system and the basic principles of Australia income tax, fringe benefit tax and goods and services taxation legislation
- analyse, discuss and resolve issues relating to the determination of assessable income and allowable deductions
- explain taxation law that relate to the taxation of individuals, companies, partnerships, trusts and superannuation funds
- analyse transaction and circumstances and apply relevant taxation laws to determine tax liability.
The Australia Taxation subject reflects legislation in place as at 1 January 2023. Exam questions will be based upon the 2022-23 tax year and the FBT year ending 31 March 2023.
The Australia Taxation exam consists of multiple-choice questions and extended response questions.
The “weighting” column in the following table provides an indication of the emphasis placed on each module in the exam, while the “recommended 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 (%)|
|1. The legal, ethical and regulatory fundamentals and administration of the tax system||15||15|
|2. Principles of taxable income||25||25|
|3. CGT fundamentals||15||15|
|4. Taxation of individuals||15||15|
|5. Taxation of various types of entities other than individuals||15||15|
|6. GST and FBT fundamentals||15||15|
The role of CPA Australia in tax policy
Members in Fiji may study a local taxation subject offered by the University of the South Pacific (USP)
This subject provides you with leading-edge, specialised training in the area of Singapore taxation
Members in Malaysia may study a local taxation subject offered by Sunway TES and Universiti Tun Abdul Razak.
Australia Taxation – Advanced
An extension of Australia Taxation, this subject examines advanced tax issues including income tax law
Discover all you need to know about Australian and New Zealand taxation legislation