Course overview
This course covers tax planning generally and also business tax planning, and estate and wealth planning. The tax planning section focuses on an overview of the Australian tax system and tax planning principles, taxation of employee remuneration, taxation of investment income, taxation of investment structures, and international taxation. As well as providing students with knowledge of fundamental concepts of Australian income tax law and basic tax planning principles, specific strategies for tax planning are covered for each of these topics. The business tax planning section covers income tax issues for business, specific anti-avoidance issues for business entities, and tax issues in buying and selling a business. The estate planning section deals with the process of planning and implementing the orderly transfer of a person's wealth in the event of their death for the benefit of their intended beneficiaries. This section focuses on what are estate and non-estate assets, estate planning objectives, strategies to achieve objectives, specific strategies for estate planning, taxation issues relating to deceased estates and the estate administration process. The wealth planning section focuses on superannuation and insurance in building and protecting wealth.
Course learning outcomes
- Apply the fundamental concepts of Australian income tax law, tax planning, and estate and wealth planning to make informed financial decisions
- Apply critical thinking and problem solving skills to resolve income tax, tax planning, and estate and wealth planning issues
- Communicate effectively orally income tax information and solutions to income tax, tax planning, and estate and wealth planning issues
- Communicate effectively in writing income tax information and solutions to income tax, tax planning, and estate and wealth planning issues
- Demonstrate how to use documentation for estate planning both in a legal and administrative context, and the consequences of non-compliance
- Apply strategies used in estate planning, in the interaction of superannuation with estate planning and in the taxation of deceased estates