The operation of Parliament and how our laws are made, the role of Treasury and the ATO, the Federal Budget and the hierarchy of the courts.
Professional development
Introduction to the Australian tax system
Tax affects everyone, every day. This unit is designed for those who would like to better understand how the Australian tax system works.
Designed for staff supporting tax practitioners, accountants who do not work predominantly in tax (such as auditors), bookkeepers and financial advisers, those returning to work from extended periods of absence with family or overseas, and younger practitioners, business owners, or anyone who wants to better understand our complex system and how it affects our everyday lives.
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Tax affects everyone, every day
This unit is for everyone who needs to better understand how the Australian tax system works. Designed for those new to the profession or considering a career in tax, staff supporting tax practitioners, accountants who do not work predominantly in tax (such as auditors), bookkeepers and financial advisers, those returning to work from extended periods of absence, and curious people who want to understand more about the system that affects so many of us.
Please note: this video unit is designed to provide an overview of the Australian tax system. It does not provide a 'how to' guide on your tax obligations such as preparing a tax return or activity statement.
You'll learn:
- How tax laws are formed.
- The different ways individuals and businesses are taxed.
- Where to access your tax information online.
- At a high-level, an overview of the different tax rules that apply for different tax structures.
- An overview of Australia’s GST system.
- An understanding of commonly used tax terms.
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Learning modules within Introduction to the Australian tax system
The different types of taxes, tax reform, and how we pay our tax through the Pay As You Go (PAYG) system. We also touch on Single Touch Payroll reporting and the different laws under which tax is imposed and calculated.
The tax file number, the key features of tax returns and lodgement, myGov versus myGovID, the tax assessment process and tax payable versus tax refunds.
An overview of the unique tax rules that apply to different tax structures.
The story of GST in Australia, we unravel the GST and unpack taxable supplies, input tax credits, GST registration, tax periods and activity statements.
Common tax and accounting terminology explained, such as income versus deductions, depreciation, tax losses and some special rules.
Abhishek Shekhawat, ATI
Having worked with the ATO, Abhishek brings extensive experience in tax administration, law and policy design, and a range of tax technical areas expertise. He holds a Bachelor of Law and Commerce from UNSW and is continuing his pursuit of knowledge with a Master of Laws. Abhishek has detailed knowledge of the law design framework, and a passion for developing workable solutions to numerous shortcomings of the current tax system.
Andrew Mills, CTA (Life)
Andrew has over 40 years’ experience in the tax profession across professional practice, corporate and the ATO. Apart from his deep tax technical work, Andrew has written extensively, delivered papers at many conferences, and lectured in Masters’ level courses. Andrew has held senior leadership roles in government, practice and corporates and has also been an active volunteer, including as President of The Tax Institute in 2006-07.
Robyn Jacobson, CTA
Robyn has been a voice in the accounting profession for nearly 3 decades, and for over 20 years guided the profession in her role as a professional tax trainer following her formative years in public practice. In her role as Senior Advocate, Robyn champions improvements to our tax system, with a focus on SMEs. She regularly engages with The Treasury, the ATO, the Board of Taxation, the Inspector-General of Taxation and Taxation Ombudsman and the professional bodies on technical issues.
Scott Treatt, CTA
With a broad experience across multiple sectors, Scott has a passion for our tax system and tax education, continuously seeking to find opportunities to improve the efficiency and effectiveness of both. Scott oversees all tax policy and advocacy issues across The Tax Institute, including submissions, technical committees, technical support resources for our members and engagement with government and other professional bodies.
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