A commercial law course to underpin your tax skills
- CommLaw1 - Australian Legal Systems
- CommLaw2 - Entities and Business Structures
- CommLaw3 - Property Law
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Information on the CommLaw 1 learning outcomes will be released as they become available.
CommLaw 1 is scheduled to be released in February 2014.
On successful completion of all the CommLaw2 – Entities and Business Structures modules you will be able to:
- demonstrate a sound knowledge of commercial law as it relates to the law of entities and business structures
- advise on the taxation treatment of entities, based on advanced theoretical and technical knowledge of their relevant commercial law contexts
- identify from the fundamental legal concepts of business organisational structures and the underlying regulations where commercial law departs from the taxation treatment of those structures (eg the taxation of partnerships)
- develop and present skilled analysis of business structure choices
- assure competent and responsible judgment in adapting analysis of choices for specific consumers of professional services for taxation compliance
- provide professional advice in the wider Australian commercial setting complying with legal and regulatory requirements.
CommLaw2 - Entities and Business Structures contains the following modules:
- Module 1: Business structures: sole traders, partnerships and corporations
- Module 2: Trusts, agencies, joint ventures and incorporated associations
- Module 3: Superannuation: non-tax legal aspects
- Module 4: Bankruptcy and insolvency: place in Australian commercial law
On successful completion of Module 1 you will be able to:
- identify legal concepts of business structures and the underlying regulation of each structure (including sole trader, partnership and corporation)
- relate the key statutes which shape the regulatory landscape of the Australian commercial environment
- understand the divisions of responsibility between Commonwealth state and territory jurisdictions in regulation of business entities
- analyse how legal principles impact on different types of business structures
- distinguish the relevance and implication of risks for the structure, operation and performance of different types of business structures
- advise on the optimum business structure based upon a range of client needs.
On successful completion of Module 2 you will be able to:
- identify legal concepts and scope of law covering trusts, agency, joint ventures and unincorporated associations
- demonstrate professional judgment in analysis and understanding of commercial transactions involving trustee and trust property
- establish whether a contract has been formed and any relevant exceptions to the contract being binding
- provide competent support for client needs in complying with regulatory obligations of trusts, agency, joint ventures and unincorporated associations
- distinguish between the advantages and disadvantages of each commercial structure.
On successful completion of Module 3 you will be able to:
- explain the legal concepts of superannuation and the underlying regulation of superannuation
- relate the features of a complying superannuation fund
- explain the importance of developing a risk management framework for superannuation fund trustees
- comply with the relevant licensing arrangements for providing advice on superannuation
- from section 945A, explain the fiduciary duties of those professionals working in the superannuation sector.
On successful completion of Module 4 you will be able to:
- identify legal concepts and scope of law covering insolvency and bankruptcy of corporations
- identify what alternatives to bankruptcy are available
- explain how the relevant state and federal laws interact
- explain the powers of an Official Trustee in Bankruptcy
- address the states of insolvency and bankruptcy and their implications for the work of a registered tax agent.
Information on the CommLaw 3 learning outcomes will be released as they become available.
CommLaw 3 is scheduled to be released in August 2013.