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ConTax newsletter - August 2013

Careers article: What to expect in an entry-level tax position

When writing a resume for a tax position, it is important that the information disclosed is written in a concise and logical manner.

A summary of your work experience and the use of bullet points within a resume can help recruiters easily determine whether candidates are suitable for a position e.g. where candidates are applying for a graduate position, there may be numerous applications, so it is best to present your resume in a manner which is convenient for the person reviewing it.

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Young Practitioner Profile: Craig Marston

Craig Marston works for Greenwoods & Freehills Pty Ltd as a Senior Associate.

Craig completed a Bachelor of Laws and Bachelor of Economics at the University of New South Wales, as well as a Master of Laws at the University of Sydney between 2006 and 2010. Craig has previously worked at Allens Arthur Robinson before moving to his current role at Greenwoods & Freehills, and has contributed to various teaching engagements with UNSW and Atax.

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Sample exam question: Partnerships

Mickey is your client, for the 2012/13 tax year. Mickey along with Minnie and Donald are equal partners in an environmental assessment business– trading as “MMD EnviroProtect”.

MMD EnviroProtect received $750,400 from fees for services provided this year and collected a further $210,200 from invoices outstanding from last financial year’s services.

MMD EnviroProtect paid a salary to the secretary Daisy of $55,000 per annum, paid $26,000 in rent for the business premises and a further $185,000 in other business expenses.

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Are you thinking of a career in tax? Free careers webinar

In keeping with our mission to equip tax professionals – including aspiring professionals like yourself – with everything you need to be work ready, we are proud to launch the new Careers in Tax Week.

How to establish your career in tax session – FREE session for you. If you want to be a leader in the tax, who better to learn from than the professionals who are the recognised leaders of the tax profession?

Held in September, the Careers in Tax Week features a free online session specifically for students and graduates of tax – How to establish your career in tax.

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Feature article: Interaction between GST, FBT and Income Tax

For a number of reasons, the interaction between the GST, FBT and the income tax can be complex, and students often make mistakes in this area. The central purpose of this article is to provide a structured and coherent framework for approaching the tax rules that apply to the interaction between these three regimes.

The starting point in this area though is that you must have an understanding of the central rules under each regime when that regime is viewed in isolation. Even though there is some commentary on this, this is largely assumed in this article. From there, the article focuses on the relevant rules that apply at the point where the regimes interact in regard to the transaction where an employer provides a fringe benefit to an employee.

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Library links: Recent tax cases of interest

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Your resources and benefits

As a student member of The Tax Institute, an extensive range of resources, services and benefits are available exclusively to you.

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Course in Australian Taxation Law

Thinking of a career in Tax? Approved by the TPB, the Course in Australian Taxation Law is the definitive course for those wishing to register as a tax agent or expand their taxation law knowledge.

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Young Tax Practitioner events

The YTP webinar series covers important technical information and offers practical tips to guide participants through a number of key tax and legal issues.

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