Contents

Taxation Australia (TAX AU)IntroductionThe Chartered Accountants ProgramAssessmentTime allocationLearning resources and supportsPrescribed reading material

9 December 2013

Taxation New Zealand (TAX NZ)

Module outline

Taxation New Zealand (TAX NZ)

IntroductionThe Taxation New Zealand (TAX NZ) module is a technical module in the Chartered Accountants Program. The module examines and applies relevant New Zealand taxation law to various tax entities. It is practical in nature, with candidates required to explain and calculate the taxation consequences applicable to a range of scenarios, including a comprehensive case study that integrates the various units.

The Chartered Accountants ProgramThe Chartered Accountants Program (the Program) comprises two elements: professional accounting education and mentored practical experience with an Approved Training Employer (ATE). Both the Institute of Chartered Accountants Australia (ICAA) and the New Zealand Institute of Chartered Accountants (NZICA) are founding members of the Global Accounting Alliance (GAA), representing over 775,000 of the world’s leading professional accountants in over 165 countries.

Integrates technical knowledge and professional skills, using complex

real life case studies, to become a well-rounded professional

Mentored Practical Experience

14 weeksOnline learning,

3 face-to-face workshopsWorkshops (40%),

Final exam (60%)

12 weeks eachOnline learning,

Optional face-to-face lecture forum (Aus)/virtual classrooms

3 online assessments (20%), Final exam (80%)

3 years approved full time (or equivalent)

Concurrent to study

Develops technical competence through problem-based

learning using case studies and scenarios

Accredited undergraduate/masters degree or alternative entry pathway

Admission to membership

Develops professional competence with

guidance from a Chartered Accountant

Chartered Accountant

Capstone

Achieve Graduate Diploma of Chartered Accounting (GradDipCA)

Audit & Assurance Taxation

ManagementAccounting &

Applied Finance

Financial Accounting& Reporting

Taxation New Zealand Module outline – page 2 of 5 

Chartered Accountants Program

UnitsThe TAX NZ module comprises the following units:

Unit Name of unit Hours

1 Taxation fundamentals 11

2 Goods and services tax (GST) 7

3 Taxation of employment remuneration 7

4 Income from property 4

5 Trading stock 4

ONLINE ASSESSMENT 1

6 Depreciation 5

7 Taxation of sole traders and the self-employed 4

8 Taxation of partnerships 5

9 Taxation of companies 8

10 Taxation of look-through companies 4

11 Taxation of trusts 6

ONLINE ASSESSMENT 2

12 Taxation of savings vehicles 5

13 Taxation of financial arrangements 5

14 Taxation of primary sector activities 5

15 International taxation issues 8

16 International tax: anti-avoidance 8

ONLINE ASSESSMENT 3

17 Tax planning, ethics and anti-avoidance provisions 6

18 Tax administration 6

19 Trans-Tasman tax issues 5

20 Recent tax developments and tax calculation 7

120

FINAL EXAMINATION

AssessmentThe assessment components are outlined below:

• Three online assessments – 20% in total

• Final examination – 80% (three hours, open book)

To pass the module, candidates must pass the final examination (achieve 50% or more of the available marks), and pass the module overall (achieve 50% or more of the available marks).

Taxation New Zealand Module outline – page 3 of 5 

Chartered Accountants Program

Time allocationThe expected workload for this module is a minimum of 10 hours per week over 12 weeks, or 120 hours in total, excluding module orientation, online assessments, the final exam and study time for the final exam. Candidates are advised to plan their enrolment carefully around work and other commitments to ensure they are able to devote the time required to their studies.

Assumed knowledgeIt is assumed that candidates would have a good understanding of basic taxation principles from their undergraduate studies. Detailed below is a summary of the assumed knowledge for the module:

• Undertake research on taxation issues, which includes identifying sources of tax law and key cases.

• Define the principles of assessable income and identify the difference between revenue and capital receipts and ordinary and exempt income, as well as demonstrate an awareness of timing issues.

• Define the principles of allowable deductions and identify the difference between revenue and capital outgoings and between general and specific deductions with an awareness of timing issues.

• Understand the taxation implications of companies, trusts, partnerships and superannuation funds.

• Describe the administration of taxation in New Zealand, which includes issues regarding determining the residency of taxpayers and the consequences of tax avoidance or tax evasion.

• Explain the nature and incidence of fringe benefit tax.

• Explain the nature and incidence of the goods and services tax.

Candidates can check their knowledge for each of the technical modules by taking the quiz in myLearning and if necessary, using the recommended resources to refresh their learning.

Taxation New Zealand Module outline – page 4 of 5 

Chartered Accountants Program

Learning resources and supportsEach technical module has a range of resources and supports available for candidates, including:

• Online learning material:

– Introduction

– Core content

– Worked examples

– Activities

– Quick reference guides

– Readings

– Unit quiz

– Stories from the profession

• Additional supports:

– An optional face-to-face lecture forum in week 10 for 2 hours (Australia only) or optional virtual classrooms in weeks 5 and 10 for 1 hour each. Both of these options will cover the same content, and both will focus on the more challenging topics and activities from the module.

– Recordings of the virtual classrooms will also be available – these can be accessed by all candidates, regardless of whether or not they have attended these sessions.

– Candidate Study Guide – following enrolment candidates will receive a study guide for all technical modules, containing a summary of the core content for each module.

– Technical query forums – one for each unit in each module, where candidates can post specific questions to a technical specialist.

– Candidate discussion forums – where candidates can raise and discuss issues with other candidates, or form study groups.

– Sample exam – to help candidates prepare for the final exam there will be sample exam papers available to download.

Prescribed reading material2014 New Zealand Master Tax Guide, CCH New Zealand Limited, Auckland, New Zealand

Taxation New Zealand Module outline – page 5 of 5 

Chartered Accountants Program