FPC006 Taxation for Financial Planning

This subject focuses on the key principles of the Australian taxation system encountered in the provision of professional financial planning advice. It is designed to build advice capability in personal and business tax affairs and addresses concepts including taxation structures, taxable income, deductions, capital gains tax, fringe benefits tax, goods and services tax as well as professional standards and ethics.

FPC006 Taxation for Financial Planning (available from Study Period 3, 2022) complies with Corporations (Relevant Providers—Education and Training Standards) Determination 2021, division 3, section 3-70 Specified course: taxation law

For more information, please refer to the subject outline.

  • Learning outcomes
    • On successful completion of this subject, individuals should be able to:

      1. Explain the role of key stakeholders in the Australian taxation system.
      2. Classify and apply concepts of income, expenses, rebates and offsets in calculating tax outcomes.
      3. Interpret and communicate taxation issues and strategies in the provision of financial planning advice.
      4. Calculate and evaluate employee remuneration arrangements.
      5. Compare and contrast the tax treatment of different entities.
      6. Analyse situations which may lead to the application of integrity measures and penalty provisions.
      7. Explain and reflect on the role of ethical, professional and legal standards in providing tax (financial) advice.  
  • Subject content
    • Topic Title
      Topic 1 Key taxation concepts
      Topic 2 Ordinary and statutory income
      Topic 3 Capital gains tax (CGT)
      Topic 4 General and specific deductions
      Topic 5 Tax offsets and personal income tax
      Topic 6 Superannuation and remuneration planning
      Topic 7 Business entities
      Topic 8 Goods and services tax (GST)
      Topic 9 Integrity measures, tax avoidance and penalties
      Topic 10 Tax and advice professional frameworks

  • CPD
    • Kaplan Professional has assessed this subject. Click here for the following CPD hours applicable from 1 January 2019 on successful completion of this course. For subjects or courses completed prior to this date, please contact Kaplan Professional’s CPD Support team on 1300 527 526 or pdmail@kaplan.edu.au.

  • Duration
    • The duration of this subject is one study period (12 weeks).

  • Assessment
  • Pre-requisites
    • There are no prerequisites for this subject. However, individuals should review the ‘Assumed Knowledge’ tab to understand the prior knowledge Kaplan advises they should hold before enrolling in this subject.

  • Assumed knowledge
    • Whilst there are no prerequisites for this subject, Kaplan assumes that individuals have completed FPC001B Economic and Legal Context for Financial Planning, FPC002B Ethics and Professionalism in Financial Advice, FPC003 Superannuation and Retirement Advice and FPC004 Insurance Advice, or understand the content covered in those subjects, prior to undertaking FPC006 Tax and Commercial Law for Financial Planning.

  • Course transition subject equivalence
    • Individuals may not be required to complete this subject if they have transitioned from a SIA/Finsia/Kaplan course and have completed the following subjects:

      • there are no equivalences for this subject.
  • Reading list
    • There is no prescribed text for this subject. Individuals are provided with key readings and access to Kaplan’s online databases. Individuals are encouraged to research and read widely on the topic.

  • Subject enhancements
    • We’re pleased to announce that the following enhancements have been made to this subject:

      • We revised the timing and positioning of the online workshops and drop-in sessions to align with assessments.