How to Become a Tax Specialist: Australian Careers in Finance

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FNS40222

Certificate IV in Accounting and Bookkeeping

If you have an aptitude for numbers and are looking for a lucrative career, then this FNS40222 Certificate IV in Accounting and Bookkeeping qualification from National Business Institute of Australia (NBIA) could be just what you’re looking for.

This course offers essential accounting knowledge and insight into various accounting and bookkeeping tasks commonly encountered in professional settings. Topics covered include the completion of Business Activity Statements (BAS), preparation of financial reports, processing of financial transactions, and establishment and maintenance of payroll systems. Accredited nationally and widely recognised, it caters to individuals seeking to enhance their proficiency in accounts, accounting, and bookkeeping, as well as those aspiring to establish their own bookkeeping business or become registered BAS agents.

Delivered 100% online, this course is particularly suitable for individuals already employed in the field, as well as those in administrative or office management roles aiming for career advancement who are looking for a flexible course that fits in with their timetable.

Please note: this course is fee-for-service, NOT government funded.

Online

Accounts Administrator, Accounts Clerk, Accounts Payable Officer, Accounts Receivable Officer, BAS Agent, Bookkeeper, Bookkeeper Assistant, Senior Accounts Officer, Tax Specialist, Taxation Advisor

Price may vary

12 months

Not Available

FNSSS00005

FNSSS00008

Tax Agent Certification

If you are looking to upgrade your accounting skills and become a registered tax agent, then this FNSSS00005 and FNSSS00008 Tax Agent Certification qualification from National Business Institute of Australia (NBIA) could be an ideal option for you.

The Tax Agent Certification is approved by the Tax Practitioners Board (TPB). The course meets the requirements of both Commercial Law (FNSSS00005) and Australian Tax Law (FNSSS00008). Including the requirements of Tax Agent Services Act 2009 (TASA).

Accessible to people with a Diploma of Accounting or higher qualification, subjects covered include applying legal principles in Consumer and Contract Law, Corporations and Trust Law, and property law, as well as preparing tax documentation for individuals and preparing and administering tax documentation for legal entities.

In this course you will have access to:

Qualified and Industry expert trainers and assessors.
Unlimited Access to the online Student Learning portal.
Online learning content and resources including website links, case studies, Industry software programs including Xero and Myob, assessments and more.
Student Discussion group
TPB approved course outlines and assessments
FREE Membership to the Institute of Public Accountants (IPA)

Pathways information:

The units provide credit towards:

FNS40222 Certificate IV in Accounting and Bookkeeping.
FNS50222 Diploma of Accounting

NBIA is a partner of ASV Wadeson Group, rated #31 in the Financial Review Top 100 Accounting Firms, 2023.

On successful completion of the course, including assessment, you will possess all the qualifications needed to become a tax agent registered with the Tax Practitioners Board.

This course is delivered 100% online.

Online

Registered Tax Agent, Tax Accountant, Tax Agent, Tax Specialist, Taxation Advisor, Taxation Compliance Officer

Price may vary

Up to 12 months

On this page

What is a Tax Specialist?

What will I do?

What skills do I need?

Resources

What is a Tax Specialist?

The role of a Tax Specialist is both dynamic and rewarding, offering professionals the opportunity to engage deeply with financial regulations and taxation laws. Tax Specialists play a crucial role in helping individuals and businesses navigate the complexities of tax compliance and planning. They analyse financial data, prepare tax returns, and provide strategic advice to optimise tax positions, ensuring that clients meet their obligations while minimising their tax liabilities.

In their day-to-day responsibilities, Tax Specialists examine operating costs and income statements, ensuring accuracy and compliance with statutory requirements. They prepare detailed tax returns for both individuals and organisations, which requires a keen eye for detail and a thorough understanding of current tax legislation. Additionally, they often liaise with financial institutions and other stakeholders to establish effective funds management arrangements, making their role integral to the financial health of their clients.

Beyond the technical aspects, Tax Specialists also provide valuable insights into financial and taxation strategies, advising clients on the best business structures and operational plans. This advisory role not only enhances their clients’ financial outcomes but also fosters long-term relationships built on trust and expertise. The career path of a Tax Specialist is not only about numbers; it is about making a significant impact on clients’ financial well-being and contributing to their success.

As the landscape of taxation continues to evolve, Tax Specialists are positioned at the forefront of financial advisory services. With ongoing professional development and the potential for career advancement, this field offers a fulfilling career for those who are detail-oriented, analytical, and passionate about finance. The blend of technical skills and interpersonal communication makes the role of a Tax Specialist both challenging and immensely satisfying.

Career snapshots For Tax Specialists

Taxation Accountants play a crucial role in analysing, reporting, and advising on taxation issues for both individuals and organisations. They prepare taxation returns, manage disputes with tax authorities, and ensure compliance with statutory requirements. This profession is essential in maintaining the financial integrity of businesses and individuals alike.

Average Age: 42 years
Gender Distribution: 51% female
Hours Worked: Average of 44 hours per week, with 74% working full-time
Average Salary: Ranges from $75,000 to $95,000 annually
Unemployment Rate: N/A
Employment Numbers: Approximately 12,500 Taxation Accountants are currently employed in Australia
Projected Growth: Annual employment growth is not specified, but the demand for taxation services remains steady

Taxation Accountants are predominantly employed in the Professional, Scientific and Technical Services sector, with significant representation in major states such as New South Wales and Victoria. The profession requires registration with one of Australia’s three peak accounting bodies, ensuring that practitioners meet the necessary educational and professional standards.

As the financial landscape continues to evolve, the role of Taxation Accountants is expected to remain vital, providing opportunities for those looking to enter or advance in this field.

What will I do?

Tax Specialists play a crucial role in navigating the complex world of taxation for individuals and businesses alike. They analyse financial information, prepare tax returns, and provide expert advice on tax-related matters. With a keen understanding of tax laws and regulations, these professionals ensure compliance while optimising tax strategies to benefit their clients. Their work not only helps clients save money but also fosters trust and transparency in financial dealings.

Examine operating costs and organisations’ income and expenditure – Tax Specialists assess financial data to identify tax obligations and opportunities for savings.
Provide assurance about the accuracy of financial reports – They ensure that financial statements comply with statutory requirements and accurately reflect the organisation’s financial position.
Offer financial and taxation advice – Tax Specialists advise clients on the best business structures, plans, and operations to optimise tax outcomes.
Prepare taxation returns – They compile and submit tax returns for individuals and organisations, ensuring all information is accurate and submitted on time.
Liaise with financial institutions and brokers – Tax Specialists work with financial entities to establish effective funds management arrangements.
Introduce and maintain accounting systems – They help clients select and implement appropriate computer-based accounting systems to streamline financial processes.
Maintain internal control systems – Tax Specialists ensure that robust internal controls are in place to prevent errors and fraud in financial reporting.
Appraise cash flow and financial risk – They evaluate the financial viability of capital investment projects, providing insights into potential risks and returns.

What skills do I need?

A career as a Tax Specialist requires a diverse set of skills that blend analytical thinking, attention to detail, and strong communication abilities. Tax Specialists must possess a thorough understanding of tax laws and regulations, enabling them to provide accurate advice and prepare tax returns for individuals and businesses. Proficiency in accounting software and financial analysis is essential, as they often examine operating costs and assess financial risks. Additionally, the ability to maintain internal control systems and introduce effective accounting practices is crucial for ensuring compliance with statutory requirements.

Moreover, interpersonal skills are vital for Tax Specialists, as they frequently liaise with clients, financial institutions, and tax authorities. They must be adept at explaining complex tax concepts in a clear and approachable manner, fostering trust and confidence among clients. Continuous professional development is also important in this field, as tax laws are subject to frequent changes. Therefore, a commitment to staying updated with the latest regulations and best practices is essential for success in this dynamic career.

Skills/attributes

Strong analytical skills
Attention to detail
Excellent communication skills
Knowledge of tax laws and regulations
Proficiency in accounting software
Ability to work under pressure and meet deadlines
Problem-solving skills
Understanding of financial statements
Client management skills
Ethical judgement and integrity
Ability to work independently and as part of a team
Continuous learning mindset

Resources

NATIONAL

QLD

VIC

ACT

TAS

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How to Become a Tax Specialist: Australian Careers in Finance

What is a Tax Specialist?

Career snapshots For Tax Specialists

What will I do?

What skills do I need?

Skills/attributes

Resources

Career Outcomes