Brian Richards CTA, Subject Convenor
Subject
Tax for Trusts: from an SME perspective
Helping SME clients manage wealth
An aging population, complicated family relationships, tax legislation and longer lifespans create a complex landscape for managing and distributing wealth. The Tax for Trusts subject arms you with the skills to understand the tax laws, evaluate the implications, compare strategies, and produce SME client advice on a range of trust issues. The preparation of distribution resolutions is also a focus which will assist you to effectively stream dividends.
Content in the subject includes 100A and Div7A ITAA1936 changes announced by the ATO in 2022, plus recent court decisions.
This subject is offered via distance learning using an online learning platform supported by pre–recorded webinars and email support from the Convenor, a subject matter expert.
Download the Information Pack to view the learning outcomes for each of the 7 modules within this subject.
- Subjects1
- Credit Points6
- LevelAdvanced
- Cost$1,885
- CPD120 hours
- DeliveryOnline
- Study Length12 weeks
- Study Periods3 per year
- Study Per Week10 hours
- Subject CodeATL008
- Subject PrerequisitesAn Australian Degree or Diploma | ATL001, ATL003 and ATL004 (or equivalent) | 12 months relevant Australian tax or tax law experience
ATL008 Tax for Trusts gives you the skills to advise clients on a range of strategies and is an essential for any practitioner wanting to work for SMEs.
Who is this for?
- anyone who has completed CTA2A and CTA2B Advanced, or equivalent
- certified Financial Planners (CFP™)
- CPA and CA qualified accountants
- corporate tax specialised professional
- financial advisers
- lawyers working, or wanting to work with SMEs
- tax professional advising high net worth clients.
Entry requirements
- hold an Australian degree or diploma in:
a. accounting; or
b. commerce; or
c. finance; or
d. law; with
e. tax or commercial law subjects - have completed CTA1 Foundations, CTA2A Advanced and CTA2B Advanced subjects, or an equivalent qualification. Please contact The Tax Institute Higher Education for further information
- meet English language requirements if the language of instruction for your 6 years of high school qualifications was not English
- have at least 12 months’ relevant Australian tax or tax law experience.
Learning outcomes
On completion of ATL008 Tax for Trusts you will be able to;
- Explain and evaluate the key tax laws that apply to trusts,
- Compare, assess and communicate the implications of various estate or succession planning strategies,
- Quantify the CGT implications of trust transactions,
- Quantify the Div7A and 100A ITAA1936 implications of trust transactions, and
- Produce and communicate advice on the tax implications of wealth accumulation and management strategies by managing risks through planning, professional partnering, avoidance of litigation, and entity succession.
Modules
- ITAA framework for trusts
- Creation, derivation, trustee choices and termination
- Present entitlement, streaming, family trusts and losses
- Capital gains tax
- Tax controversy, including:
- Advanced Division 7A,
- 100A,
- disclaimers, and
- other anti-avoidance provisions
- Worked examples
Assessment structure
- Online module quizzes - pass mark 50% Weighting 10%
- Exam - pass mark 50% Weighting 50%
- 2,500 - 3,000 word assignment - pass mark 50% Weighting 40%
Please note that all assessment tasks must be passed in order to complete the subject.
Distance learning
A flexible learning approach using an online learning platform supported by pre-recorded webinars and email support with a subject matter expert.
Assessment Only study
Assessment Only study allows candidates to accelerate their studies by progressing directly to the assessments for the subject based on prior study, qualifications and experience. Candidates will only receive access to past exam papers and online checkpoint tests prior to the exam.
Resources made available to a candidate (excluding assessment-only study) are:
- Relevant CTA2A and CTA2B materials - this subject is intended to extend the skills acquired in those subjects
- access to Legal Research and Reasoning Course
- online access to:
- Marks’ Trusts & Estates: Taxation and Practice,3rd Edition
- John Gall, Division 7A Handbook, 8th Edition
- Mark Friezer, The Australian Tax Handbook, 2022
- The Tax Institute’s Tax Knowledge Exchange library of resources for the duration of the subject
- access to an online learning portal, including:
- The Tax Institute’s TASA 2009 and the Code of Professional Conduct online module
- study materials
- recorded webinars
- past exam papers (where applicable)
- email access to the subject convenor for technical questions
- access to a Tax Research session to build research skills
- access to effective business writing skills module
- support from trained subject coordinators
Recognition of prior learning (RPL)
RPL is a process for providing candidates credit for learning or qualifications completed before your enrolment with The Tax Institute Higher Education.
To apply for RPL (fee $165), please complete the RPL form. Evidence of your qualifications will need to be provided with this application.
Please view our current timetable.
ATL008 Tax for Trusts
Standard ATL subject enrolment fee $1,885. Early bird discount $100.
Standard ATL subject enrolment fee is GST exempt.
Standard prices are valid until 11 August 2024.
The early bird discount applies per subject if enrolling before the early bird close date (except for assessment only study mode and CTA1 Foundations Intensive SP1 and SP2).
All Tax Institute Higher Education candidates are eligible to receive Education Membership of The Tax Institute for $220 (saving $365) upon enrolment until 30 June in the subsequent calendar year. Member fees attract GST and price quoted is inclusive of GST.
Please refer to the Candidate Care Guide where you'll find information on our policies.
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