Income tax deductions

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Unit details

Level:   Professional 

Estimated learning duration:   10 hours

 CPD:   10 hours

Assessment: Part 1: 20 multiple choice questions within 60 minutes. 75% pass mark.
2 attempts permitted.

Part 2: 6 scenario-based multiple choice questions within 45 minutes. 80% pass mark.
2 attempts permitted.

Assumed knowledge:   There is no tax technical knowledge required for this unit, though an understanding of the Taxation of income in Australia will be an advantage.


Learning outcomes:

  • Calculate the income tax deduction a tax entity is entitled to claim for a range of scenarios.
    • Meaning of ‘incurred’
    • Interest deductions
    • Specific deductions
    • Work related deductions for employees and self-employed
    • Deduction denial provisions
  • Explain the substantiation requirements that apply to employees claiming work-related deductions.