• Concepts of: income, deductions, tax offsets/rebates, residence, source, including the principles of the taxation of negative gearing, fixed income investments, capital allowances and income protection/ replacement

• Tax treatment of: individuals, partnerships, companies and trusts including treatment of imputation credits, deferred and tax free trust distributions

• Employee remuneration including fringe benefits tax, salary packaging, termination payments and employee share schemes

• Capital gains tax (CGT), including CGT event A1 happening on disposal of an asset, the CGT discounts, the CGT consequences of death (estate planning) and the main residence exemption (and its application to investment properties), the availability of CGT concessions for small business, roll-overs, deemed disposals and gifts

• Superannuation: key areas concerning taxation of contributions, fund earnings and benefits. At times expert advice may need to be sought on self-managed superannuation funds (SMSFs) and more detailed topics

• Tax anti-avoidance provisions (especially those relating to promoter penalties)

• Ethical and professional responsibilities of tax agents including obligations under the TASA and Tax Agent Services Regulations 2022 (TASR).

In addition, the course should cover the following areas of taxation law at a basic awareness level:

• Goods and services tax

• Tax administration including assessments, amendments and objections.

One tertiary level subject.

Diploma level (Australian Qualifications Framework level 5 criteria).

At least 40% of the assessment for the entire course should be undertaken under some form of independent supervision.

For more information refer to Course in Australian taxation law approved by the Board for tax agents with a tax (financial) advice services condition.

The course must cover at least the following key areas:

• Introductory contract law

• Fundamental legal concepts of business organisational structures (that is, sole traders, partnerships, corporations and trusts) and the underlying regulation of those structures

• Aspects of the law of torts (in particular, negligence and negligent misstatement) and the key provisions of the Competition and Consumer Act 1910, including those relating to misleading and deceptive conduct.

One tertiary level subject.

Diploma level (Australian Qualifications Framework level 5 criteria).

At least 40% of the assessment for the entire course should be undertaken under some form of independent supervision.

For more information refer to Course in commercial law approved by the Board for tax agents with a tax (financial) advice services condition.

• The objects of the TASA

• Registration process and eligibility requirements under the TASA, including knowledge of:

  • the fit and proper person requirement

  • prescribed qualifications and experience requirements (for individuals), or the requirement to have a sufficient number of individuals who are registered to provide tax agent services to a competent standard and to carry out supervisory arrangements (for companies and partnerships)

  • relevant transitional provisions.

• The Code including the underlying content of the professional and ethical standards required of registered tax practitioners that are contained in the Code in section 30-10 of the TASA

• Administrative sanctions that may be imposed for a breach of the Code, including:

  • written cautions from us

  • orders from us requiring specified action to be taken (including requiring a registered tax practitioner to complete a course of training or requiring a registered tax practitioner to practice under supervision)

  • suspension of registration

  • termination of registration.

• Civil penalty provisions including contraventions that apply to the conduct of entities that are not registered tax practitioners:

  • providing tax agent services without being registered

  • advertising tax agent services without being registered

  • representing that you are a registered tax practitioner without being registered.

• Civil penalty provisions including contraventions applicable to the conduct of registered tax practitioners:

  • making false or misleading statements

  • using deregistered entities

  • improperly signing a declaration or other statement.

• Our power to apply to the Federal Court for an injunction

• Obligations to notify us of a change of circumstances.

3 hours or half a day.

Diploma (Australian Qualifications Framework level 5 criteria).

Assessment may occur by a variety of modes, including being conducted online, provided that suitable quality assurance mechanisms are in place to ensure the integrity of the examination process.

For more information refer to Required knowledge of the Tax Agent Services Act 2009 including the Code of Professional Conduct.