CA Program Core 4: Tax (Australia) study plan

Map the statutory sequence for calculating taxable income and explain where each domain sits in that calculation

Distinguish assessable income under ordinary concepts from statutory inclusions, using at least six worked examples

Apply the general deduction provision and its positive limbs to classify ten given expenses as deductible or not

Explain the negative limbs and identify which expenses they deny, with reasons

Compute taxable income for three short fact patterns that combine income and deductions

Apply the trading stock rules to determine opening and closing stock values and the effect on taxable income

Explain the choices available for valuing closing stock and when each is permitted

Analyse the treatment of stock on disposal outside ordinary sale, including the market valuation substitution

Reconcile a simple trading account from raw transactions to taxable trading profit

Identify timing rules for prepayments, accruals and receipts in advance

Identify CGT events and the CGT assets they apply to across at least eight scenarios

Apply the cost base elements and reduced cost base to compute a capital gain or loss

Apply the discount and indexation concessions correctly, including the ordering of losses

Apply the small business CGT concessions to a fact pattern and justify eligibility

Explain the interaction between capital losses and other assessable income

Compare the tax treatment of companies, partnerships, trusts and sole traders on the same profit figure

Explain imputation, franking credits and the rules for distributing franked dividends to resident and non-resident shareholders

Apply the trust loss and income injection integrity rules to a described arrangement

Explain the consolidation entry and exit rules and the single entity principle

Compute the tax payable for a small consolidated group after an intra-group transaction

Classify ten transactions as taxable supplies, GST-free supplies, input-taxed supplies or outside the GST system

Compute net GST payable for a business over a quarterly tax period from a list of transactions

Apply the rules for GST groups, tax invoices and adjustment events

Explain the cash versus accrual accounting basis for GST and when each applies

Identify common errors in GST treatment of property and financial supplies

Identify fringe benefits across at least eight common benefit types and the applicable valuation rule

Compute fringe benefits taxable amount and FBT payable using the correct gross-up rate and rebate treatment

Explain the interaction between FBT, income tax deductibility and GST credits on benefits provided

Analyse an arrangement against the general anti-avoidance provision and state whether it would be caught

Apply the tax planning principles of timing, character and entity to a client scenario and identify the ethical constraints

Explain the concessional and non-concessional contribution caps and compute excess contributions and their tax treatment

Apply the rules for superannuation fund tax on earnings, including the treatment of pension phase assets

Compare the tax treatment of lump sums and income streams in retirement

Apply residency tests to determine Australian tax residency for three individuals

Explain source rules, withholding obligations and foreign income tax offsets for a resident with foreign income

Explain the roles of the Commissioner, the Administrative Appeals Tribunal and the courts in tax disputes

Summarise taxpayer obligations for rulings, amendments, penalties and objections

Synthesise all domains into a single integrated case study calculation from source documents to tax payable

Identify and correct your three weakest knowledge areas using targeted revision

Complete a timed practice assessment under exam conditions