Unit 2: Tax Compliance Basics - 2024

Learn about income tax fundamentals such as income and deductions, and see how a typical tax compliance job might look like.

In this unit, we cover:

• Introduction to the tax system

• Income tax fundamentals

  • The income tax calculation

  • What is assessable income?

  • What are allowable deductions?

  • Capital gains

  • Tax offsets and rebates

• Substantiation requirements

• Tax reconciliation process

• Tax compliance process - typical workflow

Date recorded: 15 February 2024