Master the basics of tax return preparation in the Zero to Mini Hero Program, a 7-part program designed for those new to tax or in need of a refresher.

Featuring a case study throughout, the program is complemented by client ‘source documents’, templates, model answers, and more.

In this program, we cover:

Tax Compliance Basics
- Introducing the tax system
- Income tax fundamentals, including income and deductions
- Capital gains
- Tax credits & offsets
- A typical workflow in the tax compliance process
- Introduction to substantiation requirements and tax reconciliations
Preparation of Tax Returns for Individuals
- Using prefill and other ATO reports & information
- Specific income for individuals
- Specific deductions for individuals
- Medicare Levy & Medicare Levy Surcharge (MLS)
- Preparation of income tax returns using a case study
Preparation of Tax Returns for Partnerships
- Tax law partnerships
- Common law partnerships
- Preparation of tax reconciliation and income tax returns using case study
Preparation of Tax Returns for Companies
- Overview of companies
- Base rate entities (BRE) and small business entities (SBE)
- Applying losses and trading stock considerations
- Franking and imputation system
- Paying dividends and Division 7A (including Minimum Yearly Repayments, MYR)
- Preparation of tax reconciliation and income tax return using a case study
Preparation of Tax Returns for Trusts
- Overview of trusts and trust losses
- Streaming of income and Family Trust Elections (FTE)
- Reading a trust deed and distribution resolution
- Distributions to beneficiaries
- Income for trust law and tax law purposes
- Reading a managed investment fund tax statement
- Preparation of tax reconciliation and income tax return using a case study
Tax Administration & Professional Ethics
- Overview of ethics for new accountants
- Substantiation and record-keeping
- Tax Agent obligations
- Overview of ATO administration framework
- Reliance on ATO documents
- Interest and penalties
The Big Picture & Tax Planning Basics
- Calculating the effective tax rate
- Preparation of a group tax summary using case study
- Tax planning considerations
- Distributions and beneficiaries
- Discussion of tax planning scenarios using the case study

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