Tax Law

1. Explain the Code of Conduct established under the Tax Agents Service Act (TASA) 2009.

2.. Interpret and apply selected sections of the Income Tax Assessment Act (ITAA) 36 and ITAA 97.

3. Investigate alternatives and prepare written advice for a client about the tax implications for a proposed investment strategy. 6. Analyse and apply tax legislation to authentic scenarios. 

This assessment assesses your research skills, your ability to synthesise an original piece of work to specific content requirements and your ability to produce a comprehensible piece of advice which addressesthe client’s needs. It also assesses your written communication skills. The ability to deliver to a brief is an essential skill in the workplace. Clients may well approach advisors seeking a combination of specific information needs and advice on the tax implications of a particular arrangement, or advice on how to structure a business concept given the tax aspects of the jurisdiction. It is therefore important to be able to identify all the issues presented by an arrangement and to think about the potential consequences of different approaches to addressing the client’s needs. The case study is designed to incorporate uncertainty. You are expected to develop a piece of work equating to written advice for your client. You must therefore identify the facts and issues presented by each aspect of the case study, identify and apply the relevant legislation and/or case law, come to a conclusion and make a recommendation to your client as to the preferred approach to comply with the relevant tax laws whilst achieving the required business outcome for your client.

Your case study needs to presented in the form of a written report to a client. An executive summary is not required. The report should use appropriate subheadings and appropriate referencing techniques. Your case study needs to identify and discuss the tax implications of the various issues raised. As an end goal you need to provide specific advice to your client as to how you think the client should structure their affairs in order to manage their tax risks in the Australian jurisdiction. Your advice must be consistent with the ethical requirements of the Tax Agent Code of Conduct. In order to produce your case study, you will need to review relevant case and legislation. The subject manual and set texts are starting points only, and you will be expected to use these initial materials to identify potential useful resources. You will then need to review your selected resources to see if they value add to your analysis. Your case study is not just a list of answers. You must address each issue and come to an integrated analysis as to the structure you would recommend. Your reasons for your conclusions and recommendations must be based on your research into the relevant cases and legislation. It is expected that you will survey the relevant literature, including decided cases, and select appropriate additional resources. Additionally, at least two (2) decided cases should be referenced and at least three (3) other resources. 

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