Course overview

The TASATFA Tax for Financial Advising subject is a Tax Practitioner Board (TPB)-approved gap subject. It’s designed for individuals who’ve completed a Kaplan Professional tax subject (e.g. DFP5) prior to 26 November 2015 and require a TPB-approved course in Australian taxation law.

To assist a client secure a financial future for themselves and their dependents and families, this subject explains how a financial adviser must have a sound understanding of the key aspects of taxation.

In this subject, individuals are introduced to the Australian taxation system, and the ways rules and regulations might affect a client’s strategies and investments. It explores how different types of income can attract different taxation treatment, and provides specific attention to capital gains and superannuation.

This subject meets the requirements for ‘a course in Australian taxation law’ that’s approved by the Board for tax (financial) advisers for the purposes of Items 301(c), 302(c) and 303(b) of Part 3 of Schedule 2 to the Tax Agent Services Regulations 2009 (TASR).

Subject outline:

DFP5 – Tax for Financial Advising (TASATFA)

Subject Information

On successful completion of TASATFA 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

Topics

• 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

Units of competency

No units of competency are awarded for this subject.

Completion

A certificate of completion will be awarded on successful completion of each subject.

Duration

Subject duration

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

Pathways

Study pathways

To stay ahead in this competitive industry, Kaplan provides training in specialist knowledge areas such as Self Managed Super Funds (SMSF) course and our Accredited Listed Product Adviser (ALPA) program. 

Entry Requirements

This subject is designed for individuals who’ve completed a Kaplan Professional tax subject (e.g. DFP5) prior to 26 November 2015 and require a TPB-approved course in Australian taxation law.

Individuals are required to be aged 18 years or older to enrol in this course.

Recognition of Prior Learning (RPL)

There’s no RPL available for this course as there are no units of competency awarded.

Enrolment information

You may enrol into this course at any time and begin studying immediately on enrolment.

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Delivery

This course is delivered online via Kaplan Professional’s learning management system KapLearn.

Students receive login details to KapLearn upon enrolment. When students log on to KapLearn they can access their subject notes, assessments, additional learning materials such as case studies, practice activities and their online tutor. Students will also receive a set of hard copy notes upon enrolment.

Students access and submit their assessments through KapLearn.

Corporate clients should contact our Corporate Solutions Representative on 1300 728 505 to discuss face-to-face delivery options and how we can tailor our training to your business needs.

Industry education requirements

Education requirements for financial advisers

We encourage you to book a consultation over the phone to discuss the options and study pathways available to you in more detail. These consultations allow our experienced and knowledgeable team to understand your needs, identify the qualification most appropriate for you, and address your questions thoroughly.

Book a consultation >

Alternatively, you can get in touch directly on 1300 320 760 or educationrequirements@kaplan.edu.au .

Assessments

Tax for financial accounting is a one subject course.

Assessment for this subject is as follows:

• One exam

Kaplan Professional exams

Kaplan Professional exams are open book, short-answer exams where emphasis is placed on the application of knowledge.

You must sit your first exam within 12 weeks of your enrolment date.

To achieve an overall grade of ‘competent’ in the exam, you must achieve the nominated pass mark for each module in the exam. If you’re deemed ‘not yet competent’ for the module, you’re provided with a re-sit. You’re only required to attempt that module in the re-sit.  If a re-sit is required, it must be within 16 weeks of your enrolment date.

You can sit your exam while being supervised in your workplace. Alternatively, you can sit at a Kaplan Professional office.

Click here for Kaplan Professional office exam times and venues.

Fees

Individual subjects are $585 (GST exempt) each.
For additional study-related fees refer to our fees document.

Policies

Student policies

Individuals who enrol in a Kaplan Professional course are bound by our published policies, including the policy that sets out our rules for assessment. Individuals can review these policies here. The policies also assist individuals when their study program does not go as planned and they need extra support.

Terms and Conditions

Click here to access our terms and conditions.

Refund Policy

Access our refund policy

Brochure

Click here to download a brochure for this course.