Taxation of individuals

Islam woman working with finance and calculate financial on calculator.


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 assumed for this unit.


Learning outcomes:

  • Explain the Australian income tax law context within which individuals that are resident of Australia or foreign residents, are taxed on their taxable income.
  • Determine the rates of tax payable by different categories of taxpayers in different circumstances and use them to calculate the tax liability of the taxpayer.
  • Explain the Medicare levy, the Medicare levy surcharge and related exemptions, and apply them to the calculation of the income tax liability of a taxpayer.
  • Explain key tax offsets which can be claimed by individual taxpayers and the rules about study and training support, and apply them when calculating a taxpayer's income tax liability.
  • Explain the rules and calculate the basic income tax liability when the taxpayer is a minor.