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On behalf of the Taxation Institute, we would like to congratulate all Student Members who have now completed their studies and will soon graduate from University. The Taxation Institute would like to welcome those students coming into the tax profession and wish you success in your new careers.

Tax Careers Online

The Taxation Institute will soon be launching a new recruitment and job search website called Tax Careers which will be open to all Taxation Institute Members and tax professionals Australia wide. Job seeker benefits include:

• Create your Job Seekers account online in the first 3 months for a chance to WIN
• Search for job roles in tax from a range of sectors, job categories and in any location across Australia
• No cost to job seekers
• Secure online information exchange

To register your interest as a job seeker or to find out more information, please click here.

Interested in continuing your membership with Australia’s leading tax education body?

Student Members now have the opportunity to apply for full membership and take advantage of a 50% discount on membership fees:

Membership with the Taxation Institute will ensure you have access to the best tax education, products and services available to the tax profession, as well as enable you to gain exposure to future employers and mentors from around the country. Membership with the Taxation Institute is essential for anyone who is serious about a career in tax.

For more information on the benefits of membership or our current eligibility criteria, please click here. To download a membership application form showing our discounted membership fees for Student Members, please click here. NB: Fees based on membership from 1 January 2009 to 30 June 2009. Special offer expires 28 February 2009.

We want to hear from you!

The Taxation Institute would like your feedback about your experience as a Student Member and what you would like to see added to the Student Membership at the Taxation Institute.

• What is your favourite part of ConTax?
• What is your favourite area of our website?
• What benefits did you find little value in?
• What other benefits would you like to see?
• Are you interested in furthering your knowledge in tax?

Please send your answers and advice to studentmembership@taxinstitute.com.au. Your feedback is valuable in allowing us to improve the benefits and services we offer to our Student Members.

Yours sincerely,

Noel Rowland               Janet Adams
CEO                              Membership Manager

1. Plan

Plan what you need to do in your tax research. Sketch what area of tax will be relevant. Think of key terms to use when keying in terms in a database. Think of synonyms to the key terms you are looking for eg. goods and services tax or value added tax. What is the question asking you to do? Discuss, evaluate etc? Keep to any word limit.

2. Find the relevant information
3. Assess what you have found
4. Write a draft and cite correctly
5. Keep up to date

Contributed by: Colin Fong • Part Time Lecturer • Faculty of Law • The University of New South Wales
Edited by: Professor Dale Pinto FTIA • Curtin University • Western Australia

To read this article in full, please click here

Colin Fong is a part-time Lecturer, Faculty of Law, The University of New South Wales, Sydney, Curtin Business School Visiting Fellow 2004.	Dale Pinto is an Associate Professor and Head of the Tax Department in the School of Business Law at Curtin University. He has published widely in national and international refereed and practitioner journals in the areas of taxation law, electronic commerce and international tax.

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Dr. Cook is employed as a doctor by Quantum Medical Practice Pty. Ltd. in Perth.

He also carries on a soft toy internet business using one of the rooms at his residence (which is his family home) at Churchlands for this purpose.

As his friends, Karen and Tom had moved to Sydney, Dr. Cook wanted to be close to them, so he decided to move to Sydney too. Prior to leaving Perth to move to Sydney on 30 June 2008, he sold the following assets:

(1) His residence (which is his family home) at Churchlands for $492,000 on 1 April 2008 ( stamp duty and legal costs on disposal were $2,000 ). The home was bought on 31 January 1986 for $197,000 ( stamp duty, transfer fees, borrowing expenses and legal fees were $3,000 ) and renovations to the home totalling $85,000 were carried out in June 1995.

He had claimed tax deductions ( for rates, taxes, insurance, interest etc.) in respect of 10% of this property for each year of his ownership as home office expenses based on floor space of the room set aside to carry on his soft toy internet business.

(2) Shares in Quack Medical Supplies Ltd. on 10 November 2007 for $50,000. He bought these shares in January 1995 for $55,000.

(3) A vacant block of land in Morley for $45,000 on 1 June 2008. He bought the land for $35,000 on 28 September 2007. Stamp duty on purchase was $682 and commission paid on sale was $1,350. Interest of $3,000 was paid in respect of a bank loan which had been obtained to finance the purchase.

He had carried forward losses of $5,900 (for ordinary assets) and $1,000 (for collectables) from the last financial year.

Advise Dr. Cook on the net capital gain or loss ,arising from the above transactions, for the year ended 30 June 2008 (assuming that he wishes to legally minimise his tax liability). Please ensure that you provide full explanations and cite relevant statutory and cases (if any) to support your answers.

The see the suggested solutions to these sample questions, please click here .

Mahmood Fadjiar obtained his Bachelor of Laws degree in 1971 and his Master of Laws degree in 1977 both from the University of Singapore. He is currently enrolled at the University of Western Australia for the degree of Doctor of Juridical Sciences (SJD). He is an advocate and solicitor of the Supreme Court of Singapore and a barrister and solicitor of the Supreme Court of Western Australia and the High Court in Australia.

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Free Seminar Opportunities
For more information on Taxation Institute seminars, visit our website www.taxinstitute.com.au to view brochures for our events	Limited FREE registrations are now available for selected Taxation Institute events for Student Members. To find out about FREE event opportunities, please contact your local state office or email studentmembership@taxinstitute.com.au

Name: Jemma Sanderson ATIA
Employer: Cooper Partners Financial Services, Perth WA
Position: Principal
Member Since: 2006

Describe your current role:

I head up the SMSF Specialist Services division of a Tax Specialist and Business Advisory Accounting Firm. In this role I provide strategic advice to trustees and members of SMSFs, as well as estate planning and succession advice to individuals and business owners.

How did you end up in tax?

After finishing university a role came up dealing with superannuation. I received really good initial training and enjoyed making a difference to people’s retirement and what they have worked for their whole lives to achieve.

Why I’m a Member of the Taxation Institute of Australia.

The ongoing education events are of a high quality, with great practical examples. The calibre of presenters is always high, and you get value from attending the events. The social events are a great opportunity to meet other people in both your own field and other areas of tax.

What advice can you give graduates?

Try and learn as much as possible about all the different areas in your field and find your niche.

Advice to those entering the profession?

Try and experience as many different tax areas as possible. Get involved from the start in the social events offered and meet others in your field and experience.

Most memorable career moment to date?

Speaking at the Taxation Institute WA State Convention in Busselton in 2007.

How do you kick back and relax ?

I enjoy watching most sports, and have recently started playing golf. I also enjoy playing tennis and relaxing at home with my partner and two dogs .

Favourite holiday destination?

Italy – so much history and so many beautiful things to see, not to mention the beaches.

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Structured Education Program
Essential tax education for all tax professionals Foundation Tax >> Applied Tax >> Advanced Tax
Accountants: Applied Tax provides exemptions into both the CA and CPA Programs giving you the flexibility to choose either of those programs for your professional qualification. Lawyers: Applied Tax is an excellent course to develop your tax specialisation! As a graduate of the Advanced Tax course and a regular sponsor for staff in the Foundation Tax course I am familiar with the training methodology of the Taxation Institute of Australia. We feel this methodology is better for our staff who are given the opportunity to develop both their business writing and verbal communication skills. To enrol today or for more information go to: www.taxeducation.com.au	Cindy McDonald FTIA Advanced Tax Graduate and Sponsoring Employer

Some Recent Cases of Interest

• FC of T v Spriggs [2008] FCAFC 150
• Murdoch v Commissioner of Taxation [2008] FCAFC 86
• Kocic v Commissioner of Taxation [2008] FCA 1576
• Pattenden v Commissioner of Taxation [2008] FCA 1590
• Pre Paid Professional Administration Ltd v Deputy Commissioner of Taxation [2008] FCA 1580
• Deutsche Asia Pacific Finance Inc v Commissioner of Taxation (No. 2) [2008] FCA 1570
• Romanin v The Commissioner of Taxation [2008] FCA 1532

Legislation

Places to locate legislation include the following sites:

• Austlii - Federal and State legislation
• ComLaw - Official Australian Government site
• ATO - Exhaustive site for tax and superannuation and related legislation; Includes EM’s and Second Reading speeches
• Federal Parliament - Bills, EM’s and Second Reading speeches; No Acts (go to ComLaw for these)

ATO

www.ato.gov.au

This website is extremely useful for students and practitioners and will reward your efforts to become familiar with the contents and how they are arranged.

• Public Rulings, Determinations etc.
• ATO Interpretive Decisions
• NTLG Minutes
• Tax, superannuation and related legislation. Also includes EM’s and Second Reading speeches

Journals

• Taxation in Australia
• The Tax Specialist
• Australian Tax Forum

The Treasury and Ministry Websites

• Treasury
• The Hon. Wayne Swan - Treasurer
• The Hon. Chris Bowen – Assistant Treasurer & Minister for Competition Policy & Consumer Affairs
• The Hon. Nick Sherry – Minister for Superannuation & Corporate Law

Related websites

• Taxation Institute of Australia
• ATO
• Board of Taxation
• Austlii
• ComLaw
• Treasury: Ralph Review
• Treasury: Review of Income Self Assessment
• Inspector-General of Taxation
• Federal Parliament - Canberra

Education Websites

You may have access to one or more of these sites via your educational institution – it’s a good idea to check this out.

• Thomson - Subscription needed for access
• CCH - Subscription needed for access
• LexisNexis - Subscription needed for access

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Various special offers from the Taxation Institute’s Business Alliance Partners are available to Student Members. Please click here to see special offers from Thomson, HSBC and more.

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We welcome your feedback about ConTax and the receipt of proposed content contributions (i.e articles) for future editions.Click here to contact ConTax.

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