Tax for Financial Advising

On successful completion of TFA 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 and describe 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 planner 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 enrolment date.

An additional four (4) weeks resubmission time will be granted if both assessment tasks have been attempted and the student has been deemed ‘Not yet competent’ in one or more of the exams. This time can be used to re-sit an exam. There is no fee for this extension.

Therefore, if a student completes the learning and assessment, and the resubmission time is granted, the duration will be 16 weeks.

Completion
A certificate of completion will be awarded on successful completion.

Industry recognition
Kaplan Professional has assessed this subject and CPD hours are applicable upon successful completion. For further information, please contact Kaplan Professional’s CPD Support team by phone on 1300 527 526 or via email at pdmail@kaplan.edu.au

• 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