Basic Accountancy Principles Course

Tax Agent Registration Course – For Graduates of Other Disciplines

An alternative pathway to becoming a registered tax agent in Australia

Want to become a tax agent but don’t have a diploma or degree in accounting?

If you hold Tertiary qualifications in law or another discipline other than accounting there is an alternative pathway available to be become registered as a tax agent. Rather than doing an entire Diploma (or higher) of Accounting you are able to complete the units shown in the table below.

Pathway for holders of a Law Degree / Qualification

If you have a law degree you will need to complete our courses in:

Basic Accounting Principles approved by the board

FNSACC421 Prepare financial reports
FNSACC414 Prepare financial statements for non-reporting entities

Australian Taxation Law

AETL001 - Individual Taxation
AETL002 - Taxation of Legal Entities

Pathway for other disciplines

If you have a degree in a discipline other than law and accounting you will need to complete our courses in:

Basic Accounting Principles approved by the board

FNSACC421 Prepare financial reports and FNSACC414 Prepare financial statements for non-reporting entities

Australian Taxation Law

AETL001 - Individual Taxation
AETL002 - Taxation of Legal Entities

Commercial Law

AECL001 - Corporations and Trusts Law
AECL002 - Property Law
AECL003 - Contract and Consumer Law

Course in Basic Accountancy Principles
approved by the board

BAP0001 Basic Accountancy Principles

This unit comprises both FNSACC421 & FNSACC414. FNSACC421 Prepare financial reports and FNSACC414 Prepare financial statements for non-reporting entities.

Sources of regulation of accounting;
Understanding financial statements for different business structures;
Transaction analysis;
Basic understanding of double entry bookkeeping;
Cash and accrual accounting;
Key concepts and rules integral to understanding financial statements including:
- Definition and recognition of revenues and expenses;
- Definition and recognition of assets;
- Definition and recognition of liabilities;
- Measurement of current-assets, including receivables and inventory;
- Measurement of non-current assets including depreciation and impairment; and
- Measurement of liabilities; and
Taxable income and accounting profit (loss).

Australian Taxation Law
FNSSS00008 Tax Law for Tax Agents Skill Set
(Tax Documentation)

This course provides you with a detailed understanding of the concepts and application of Australian Tax Law.

AETL001 - Individual Taxation
(equivalent to FNSACC512 Prepare tax documentation for individuals)

This unit maps to FNSACC522 Prepare tax documentation for individuals, which is part of the FNSSS00008 - Tax Law for Tax Agents Skill Set (Tax documentation)

The following topics are covered:

1. Introduction to Income Tax
2. Assessable Income
3. Exempt and Non-assessable None Exempt Income
4. Capital Gains
5. Annuities and Foreign Pensions
6. Termination Payments
7. Small Business Entities
8. Trading Stock
9. General Deductions
10. Specific Deductions
11. Decline in Value
12. Tax Offsets
13. Tax Losses
14. Income Tax Returns
15. Tax Administration

Learning Outcomes
Students will have an understanding of the individual taxation including:
• The legislative framework of the Australian taxation system;
• principles of Australian tax law;
• residence and source ;
• assessable income;
• deductions;
• tax rebates/offsets and tax accounting;
• capital gains;
• tax administration;
• ethical and professional responsibilities of tax agents including obligations under the TASA and TASR;
• Current industry issues;
• Taxation software and electronic lodgement (including cloud solutions) and;
• ATO calculators and tools

AETL002 - Taxation of Legal Entities
(equivalent to FNSACC601 Prepare and administer tax documentation for legal entities)

This unit maps to FNSACC601 Prepare and administer tax documentation for legal entities, which is part of the FNSSS00008 - Tax Law for Tax Agents Skill Set (Tax documentation)

The following topics are covered:

1. Income of Minors
2. Trusts
3. Partnerships
4. Companies
5. Primary Producers
6. Superannuation funds
7. Clubs, Societies and Associations
8. Special Professionals
9. Tax Agents
10. Returns and Assessment

Learning Outcomes
Students will have an understanding of the taxation law and preparation of varying entity types including:
• taxation of individuals and basic entities including partnerships, trusts and companies;
• taxation aspects of superannuation law;
• ability to complete the tax returns of the above entities
• Current industry issues;
• Taxation software and electronic lodgement (including cloud solutions) and;
• ATO calculators and tools
• ATO rulings and lodgement schedules
• Ethical considerations Tax Agent Services Act (TASA) and Tax Agent Services Regulations (TASR)
• GST law

Commercial Law
FNSSS00005 Commercial Law for Tax Agents Skill Set

AECL001 - Corporations and Trusts Law
(equivalent to FNSTPB504 Apply legal principles in corporations and trust law)

This unit maps to FNSTPB504 Apply legal principles in corporations and trust law which is part of the FNSSS00005 – Commercial Law for Tax Agents Skill Set

The following topics are covered:

1. Choosing a business structure
2. The Company – Nature, Regulation and Registration
3. Management
4. Directors’ Duties
5. Share Capital and Fund Raising
6. External Administration
7. Associations
8. Trusts

Learning Outcomes:

Students will have an understanding of the corporations and trusts such that they can apply relevant statutory, common law and equitable principles to particular client fact situations.

Law of entities and business structures

Students will have an understanding of the various business structures and laws which relate to them in Australia including those which apply to sole traders, partnerships, trusts and companies. Students will also be exposed to the considerations which need to be borne in mind in choosing the most appropriate structure for a business. This will enable tax agents to be able to advise on the tax treatment of the entities.

Students will have an understanding of the usage of trusts as a business structure. In particular, the different types of trusts and their purposes. The taxation of trusts are covered in the taxation unit.

Current Industry Issues

Students will gain and understanding of the current issues in setting up of structures including current trust laws on income streaming.

AECL002 - Property Law
(equivalent to FNSTPB505 Apply legal principles in property law)

This unit maps to FNSTPB505 Apply legal principles in property law which is part of the FNSSS00005 – Commercial Law for Tax Agents Skill Set

The following topics are covered:

The following topics corresponding to the chapters of the above text are as follows:

1. The Framework of the Australian Legal System
2. Contract Formation
3. Contract Validity
4. Contractual Rights and Obligations
5. Contractual Performance – Termination and Breach
6. Identifying, Protecting and Enforcing Interests in Personal Property
7. Interests in Intellectual Property

Research Topics
1. Research topic – Native title
2. Research topic – community and strata title
3. Application of contract law principles to property transactions

Learning Outcomes

Students will have an understanding of the Australian legal system such that they can apply relevant statutory, common law and equitable principles to particular client fact situations.

Contracts

Students will have an understanding of the fundamental legal concepts which govern the formation, operation and breach and discharge of contracts, including rules relating to remedies. This knowledge will be in context so they understand issues relating to the timing of the making of a contract (conditions precedent and subsequent), terms of a contract, changes to a contract and how that may produce different tax impacts.

Real and personal property law

Students will have a foundational knowledge of core legal concepts relating to real and personal property law. This foundational knowledge will be enhanced in Commercial and Property Law unit.

Intellectual property

Students will cover core concepts of intellectual property including copyright, designs, patents and trademarks.

AECL003 - Contract and Consumer Law
(equivalent to FNSTPB503 Apply legal principles in consumer and contract law)

This unit maps to FNSTPB503 Apply legal principles in consumer and contract law which is part of the FNSSS00005 – Commercial Law for Tax Agents Skill Set

The following topics are covered:

1. Australian legal systems and processes
2. Contracts – elements, operation and remedies
3. Law of torts – in particular negligence
4. Insurance law, including insurance contracts
5. Consumer protection law
6. Debt recovery and bankruptcy
7. Financial Services law

Learning Outcomes

Contract and Consumer Law students will have an understanding of the contract and consumer law law such that they can apply relevant statutory, common law and equitable principles to particular client fact situations.

Contract Law

Students will build on their understanding of the fundamental legal concepts which govern the formation, operation and breach and discharge of contracts, including rules relating to remedies. This knowledge will be in context so they understand issues relating to the timing of the making of a contract (conditions precedent and subsequent), terms of a contract, changes to a contract and how that may produce different tax impacts.

Superannuation

Students will gain an understanding of the regulation of superannuation products, superannuation providers and the trustees and managers of superannuation funds. Also covered will be roles of the responsible authorities such as APRA and the future expected changes to the superannuation regime.

Law of torts

Students will have an understanding of the law of torts and will particularly focus on the torts of negligence and negligent misstatement. They will also have an understanding of damages and defences to torts.

Insurance law

Students will cover the fundamental legal concepts as they relate to insurance law including the concept of an ‘insurable interest’. Indemnities, contracts of insurance and commercial insurance contracts will also be covered.

Consumer protection law

Students will cover core concepts relating to consumer protection law including consumer guarantees, product safety, and business practices (including misleading and deceptive conduct and false or misleading representations.

Applied Education is an approved training provider for the tax agent registration course FNSSS00005 – Commercial Law for Tax Agents Skill Set as approved by Tax Practitioners Board.

Course in Basic Accountancy Principles

The TPB tax agent certification course consists of 5 units of study

Entry Requirements

Payment Plans & Fee

Upfront Payment

Basic Accounting Principles – $725 total for both units FNSACC421 & FNSACC414.

Discounts available if purchasing with other tax agent registration units.

Payment Plans

We understand not everyone has the financial resources upfront to invest in training, so we offer payment plans to get you moving faster towards your future. The Tax Agent Registration Course is eligible for a 6-month payment plan.

An administration fee of $100 is added for this option
A $250 deposit is processed at the commencement of course
Remainder is paid over 6 equal monthly instalments
All you need is a valid credit card

Concessions on Courses

Concession pricing is available for eligible students as per the Student Handbook. Proof of concession must be provided at the time of enrolment; please contact us to apply for a concession rate when enrolling.

Refund Policy

Refer to the Student Handbook for our refund policy. This course includes a non-refundable administration fee of $250.

Course Duration

Course Materials

Tax Agent units require the purchase of textbooks. A link will be provided for you to order these directly from the publisher, with discounts available to Applied Education students.

For Basic Accounting Principles, course training manuals are supplied in digital non-printable format. A hard copy version for FNSACC414 can be purchased through the student platform when you have enrolled.

We also supply additional learning material including:

Course Presentation Slides
Summary Notes
Resources and Publications, where applicable
Video tutorials covering key learning concepts are available for Basic Accountant Principles, AECL001 Corporations and Trusts Law and AECL003 Contract and Consumer Law.

Assessments

Pre-course

Before starting, you will be required to complete a Language, Literacy and Numeracy (LLN) questionnaire. This quick questionnaire is used to determine your LLN skill level so that we can best support you in your studies.

Modules & Units

The Introductory Modules include a Communication Skills Assessment and a Work Health and Safety Assessment.

The Unit assessments and examinations are completed using a variety of methods and are submitted online via our student portal. They are conducted open book from either your home or office, and comprise theoretical and practical exercises.

Exams

All Tax Practitioners Board Approved units include an exam component, which needs to be independently supervised. Exams are three-hour, open-book assessments comprising of short answer and multiple choice questions, very similar in format to the unit assessments.

Exams must be completed within your course duration period. Prior to your exam, you will need to complete and return the Supervisor Nomination Form to Applied Education detailing your supervisor's information, contact details and the elected date of your assessment.

Exams can be undertaken at any location and time of your choosing, with the only condition being that you have a nominated, independent supervisor present. Your supervisor can be a person of responsibility such as a registered tax agent, member of an accounting professional body, public servant, doctor, nurse, police officer, director etc. who does not have a close personal or professional relationship with you.

If you cannot arrange a supervisor then we offer the following options for conducting your supervised assessment:

Online - online supervised exam with one of our staff members
Perth Training Centre - Level 1, 524 Hay St, Perth WA 6000
Melbourne Training Centre - Level 27, 101 Collins St, Melbourne VIC 3000
Sydney Training Centre - Level 26, 44 Market St, Sydney NSW 2000
Brisbane Training Centre - Level 19, 10 Eagle St, Brisbane QLD 4000

Study Method

These units are completed through Online study. This is a convenient, effective and affordable way to learn when and where you want.

We provide you with the following:

Quality materials
Videos and webinars
Amazing Support from our assessors and student support team
Online assessments and exams
Student Facebook group

The course has been developed to give you flexibility so that you can study at your own pace, in your own time and in your own environment. The best part is, with Applied Education we provide a high level of support for all our students and are here with you in your study journey.

Computer Requirements

Career Pathways

Accounting Experts
Training experts since 1999
Tax Practitioners Board Approved
TPB approved for Tax Agent registration

Amazing Support
Expert trainers and passionate support
IFPA Membership
Developed in consultation with industry partner Institute of Financial Professionals Australia (IFPA)

Student Support - The Applied Education Difference

Amazing Support
Every student receives help getting started
and can book a welcome call
Online Support
Dedicated Support Team and Ticket Lodgement

Facebook & Student Forums
Dedicated Facebook Study Group and Online Forums
Phone Support
Talk to Assessors & Student Services Team

Accreditation & Industry Partners

As a Registered Training Organisation (ID 52240), we comply with the government’s strict quality and consistency standards. We conduct regular audits to ensure we keep this accreditation and deliver the level of training you deserve.

Nationally Recognised Training - The units in this course are recognised in all states and territories of Australia.

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Basic Accountancy Principles Course

Tax Agent Registration Course – For Graduates of Other Disciplines

An alternative pathway to becoming a registered tax agent in Australia

Pathway for holders of a Law Degree / Qualification

Pathway for other disciplines

Course in Basic Accountancy Principles
approved by the board

Australian Taxation Law
FNSSS00008 Tax Law for Tax Agents Skill Set
(Tax Documentation)

Commercial Law
FNSSS00005 Commercial Law for Tax Agents Skill Set