CPD Hours: 30 on successful completion
To become a registered tax agent (RTA) with the Tax Practitioners Board (TPB) practitioners must show evidence of having completed two units in Australian taxation law.
The Advanced Taxation Supplement course consists of two standalone units and has been developed to supplement the CPA Program Advanced Tax unit to meet the Advanced Taxation requirement for Australian Taxation Law for registration with the TPB.
International tax fundamentals is one of the units in the program and addresses the influence of globalisation on trade and capital flow, and how this impacts tax jurisdiction (international or domestic).
Key topics covered include:
- Residence
- Source
- Exemptions and treaties
- Foreign currency gains and losses
- Transfer pricing
- Candidates enrolled into this unit are bound by the Rules & Regulations governing the program.
Superannuation is one of the units in the program and investigates the complexities of taxation of superannuation funds in Australia.
Key topics covered include:
- Contributions to superannuation funds (employer or member)
- Tax treatment of contributions
- Superannuation guarantee
- Regulation of superannuation funds
Assessment
Candidates are required to complete a written assignment based on a relevant case study for each the topic areas. Each case study assessment will require a 500-700 word response from candidates. Candidates can complete their study and submit their written assignment anytime within a six month period from the day of enrolment. The written assignment will be submitted for marking via My Online Learning.
Candidates enrolled into this unit are bound by the Rules & Regulations governing the program.
If you have previously completed one unit of the Advanced Taxation Supplement, please email RTO@cpaaustralia.com.au and we will add you to the outstanding subject free of charge.
Learning objectives
International Taxation Fundamental
- Determine whether different types of taxpayers are resident or non-resident for Australian taxation purposes
- Identify what income is subject to tax in Australia, by virtue of its source
- Identify and apply various exemptions in a range of circumstances
- Explain broadly how a double tax agreement works and how it interacts with Australia’s domestic tax laws
- Translate amounts denominated in foreign currency into Australian currency
- Identify relevant forex realisation events and calculate resulting forex realisation gains and losses
- Determine and calculate a taxpayer’s withholding tax liability and a payer’s obligation to withhold and remit withholding tax
- Determine whether the thin capitalisation provisions operate in a particular situation
- Identify circumstances in which the Commissioner may seek to apply transfer pricing rules and explain the effect of such an application
- Calculate a taxpayer’s foreign income tax offset entitlement
Superannuation
- Identify which employees and employers are required to make superannuation guarantee contributions for, and calculate the amount of the superannuation contribution required to be made
- Explain the consequences of an employer not fulfilling its superannuation contribution obligations
- Identify persons who are eligible to obtain an income tax deduction for superannuation contributions and calculate the amount of the deduction entitlement
- Identify contribution caps and determine the implications if the limits are breached
- Calculate the taxable income and tax payable by a superannuation fund explaining why amounts are, and are not, included in the calculation
- Determine the income tax treatment of the payment of lump sum and pension benefits from a superannuation fund
- Identify the main characteristics of a complying superannuation fund
- Identify some of the typical requirements for a superannuation fund maintaining complying status
Audience
Members with less than eight years recent experience in taxation. Members who have eight years’ experience do not need to meet this requirement as the TPB allows them to register using their experience.
