Unit 1: Welcome, Ethics & Tax Administration - 2024

Let’s get started! Meet your case study client, get an overview of professional ethics, and dive into the Australian tax system.

In this unit, we cover:

• Quick brief for Zero to Mini Hero Program

• Meeting the case study client

• Ethics & Professional Conduct

  • Tax Practitioners Board (TPB) Code of Professional Conduct

  • Identifying and addressing threats under APES 110

  • Overview of ethics standards for accountants

• Tax Administration

  • Introducing the tax system

  • Who needs to lodge a tax return?

  • Due dates for various return types

  • Lodgement deferrals

  • Failure to Lodge (FTL) penalties

  • General Interest Charges (GIC) and Shortfall Interest Charges (SIC)

  • Options to remit penalties and interest

  • Reliance on ATO documents, publications and tools

Date recorded: 13 February 2024