Building specialised expertise in the evolving world of corporate tax
Published: 23 Apr 2024
In the evolving world of corporate taxation, characterised by ongoing reforms and the challenges posed by the digital economy, Australian businesses are in critical need of comprehensive and sound tax advice. The Corporate Tax subject, offered by The Tax Institute Higher Education, has been designed for building specialised expertise, offering a pragmatic exploration of complex topics and breaking them down into accessible learning modules for today’s tax professionals. Undertaking this subject equips professionals like you with the skills necessary to provide insightful guidance within a global context, addressing issues like Base Erosion Profit Shifting (BEPS) and transfer pricing. It empowers candidates to interpret tax laws, prepare comprehensive advice, and analyse alternative strategies for pivotal scenarios such as consolidations, effective capital management, and tax incentives – the perfect recipe for a specialisation in corporate tax.
Structured to be able to be completed concurrently with work responsibilities, the subject is delivered through a flexible distance learning format, utilising a modern online platform complemented by pre-recorded webinars and personalised email support from the Convenor – a subject matter expert.
Key Modules:
Consolidations: Covers core rules, cost setting, losses, practical considerations, multiple entry consolidated (MEC) groups, and other consolidation issues.
Corporate Finance: Topics include an overview, sources of corporate finance, distinguishing debt and equity, thin capitalisation rules, structured retail financial products, commercial debt forgiveness, taxation of financial arrangements, qualifying securities, traditional securities, and other aspects of funding.
Capital Management: Exploring on-market share buybacks, off-market share buybacks, and capital returns.
Corporate Restructures: This module covers the impact of tax consolidation on corporate restructures, Division 615 ITAA97, Subdivision 124–M ITAA97 Scrip–for–scrip roll–over, Division 125 – Demerger, debt/equity rules in a restructure, pre-–sale dividends, and Section 177EA ITAA36.
International: The international module addresses thin capitalisation, transfer pricing, controlled foreign company (CFC) regime, conduit foreign income (CFI), and tax treaties.
Winding-up and Liquidations: Topics include winding–up companies, director’s liability for company tax liabilities, tax obligations when winding up a company, and tax issues in winding–up and liquidations.
Tax Incentives: Covering the registration of eligible R&D activities, tax offset on eligible R&D activities, R&D disposals, recoupments, clawbacks, using R&D offsets, impacts on franking accounts, interaction with tax consolidation, and other tax incentives, including a corporate R&D case study.
Testimonials: Bridging theory and practice
“I learned a lot about corporate tax topics that are often outside of the usual reach of a tax accountant, and yet critical to tax advisory, such as the company loss utilisation rules, the debt/equity tests, the capital reduction/share buy-back rules, the consolidation mechanics, the CGT rollovers, etc.”
Vincent Oldani, Tax Manager, MGI Joyce-Dickson, ACT.
“The subject is directly relevant to my work... Tax is an important part of any M&A transaction or corporate governance, and having been through the course, it’s solidified my understanding and confidence in the area.”
Tanim Islam, AUB Group Limited.
Assessment and prerequisites
Assessment in the subject takes the form of module quizzes, a letter of advice, and a final exam to ensure candidates can practically apply their knowledge. Prerequisites include an Australian Degree or Diploma, the CTA1 Foundations, CTA2A Advanced, CTA2B Advanced subjects (or equivalent), and 12 months of relevant Australian tax or tax law experience.
Advancing expertise, closing knowledge gaps
The Corporate Tax subject addresses global concerns and incorporates real-world examples to empower tax professionals to navigate intricacies and contribute significantly to the success of Australian businesses. Whether dealing with consolidations, international tax challenges, or tax incentives, Corporate Tax serves as a foundational pillar for professionals seeking to excel in their roles, providing a holistic understanding of corporate taxation.
Corporate Tax is an elective subject in both the Graduate Diploma of Applied Tax Law and the Graduate Certificate in Applied Tax Advisory.