If you are aware of the numerous tax laws and regulations, you can create circumstances and portfolios that are tax efficient and minimise the payment of tax. This applies to both individuals and entities and is legal under tax law, as long as it stays within the guidelines for tax planning.
Unfortunately, many people find tax and tax law a confusing area, with all the numbers, calculations and red tape. This lack of knowledge contributes to inefficiency and paying more than is needed at taxation time. So, where should you go to learn more about tax law and the taxation system in Australia?
Learning About Tax Law and Taxation
As educational institutions have started to realise the power of the web in the context of communicating knowledge, many useful courses are now available to study and complete online. If you’re looking to learn about effective tax planning to minimise your taxes, you’ll need to seek out appropriate tax planning courses.
Becoming a registered tax agent is a great way to increase your knowledge of tax laws in Australia. You’ll meet the requirements of the Tax Practitioners Board (TPB) and learn useful skills that can be applied in the real world. In completing such an online course, you’ll learn about:
- The structure of tax and compliance in Australia
- The responsibilities and ethics required of a registered tax agent
- Commercial and property tax
In these types of online courses, you’ll often find that individual subjects can be studied in order to increase your knowledge in a single area. This is useful if you are just looking to learn more about tax law in Australia, but don’t necessarily want to be a registered tax agent. The course will typically be time flexible and allow you to study using the following modes:
- Attending in-person lectures in capital cities
- Studying using web teleconference, if distance is a factor for you
- An intense study period that compresses the entirety of the course into a six-week period
- The opportunity to skip straight to assessments if you already have knowledge of tax law
What to Expect in a Course of Study
Whatever your mode of study, you’ll have certain resources made available to you as part of the course. This is what you might reasonably expect to have included during your course of study:
- An online learning portal so you can log in anytime to participate in discussion forums, download materials and upload materials for assessment
- Webinars recorded in advance, so you can view them at any time
- A list of resources and study materials
- Online access to ask questions of a subject advisor
- The support of other students and subject co-ordinators
Even though tax laws in Australia can be onerous and confusing for individual and business entities, further study can be undertaken through reliable online education providers with experience in this area. The study will be flexible and will serve to increase your knowledge of tax laws in Australia.