This course will cover all the key areas including the following:

• How the tax system works including current tax rates; • All about your personal tax return including details on the calculation of assessable income, income tax payable, deductions, the Medicare levy and much more; • How capital gains tax (CGT) works including discount capital gains, calculation of capital gains, the 12-month rule and more; • The rules surrounding your main residence and the tax exemption on disposal; • How rental income works including the records you must keep, the rental income you must declare and the expenses you can claim, as well as how CGT works upon selling a property; • What fringe benefit taxes (FBT) are and how they work; • How the retirement and superannuation system works including a detailed discussion of super fund taxation issues; • The tax issues around death including what is involved in the tax return of a deceased person as well as CGT and superannuation death benefit issues; • The basics of setting up a business including the different types: sole trader, partnership, company or trust, and the taxation issues of each; • How goods and services tax (GST) works including what is taxable, who has to register, how to register, what needs to be on invoices and lodging your returns.