For the CPA Program • Elective subject
Australia Taxation Advanced for the CPA Program, cut to 47 pages of notes, 80 flashcards, a three-page cheat sheet and an 80-mark practice exam, so you study what carries the marks. Packs $45 to $120 AUD, instant PDF download.
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About the subject
Australia Taxation Advanced is an elective in the CPA Program. This study guide covers advanced Australian tax: policy and anti-avoidance, trusts, superannuation, companies, consolidations, business structures, corporate financing, cross-border issues and GST.
The exam mixes multiple choice with extended response, and most questions are built around a client's structure. You have to take a rule, Part IVA, trust streaming, Division 7A, the franking system, and apply it to facts you have never seen before, which is where most marks are won or lost. The notes are built for that: the rules and the wording first, then how to use them in the exam.
The subject splits into nine modules. The notes match the exam, so your study time follows the marks. The 2026 edition reflects the 2024-25 tax year the exam is based on.
What's inside
Three parts that work together. Learn it in the notes, drill it with the exam, lock it in with the cards.
The whole subject rewritten in plain English, the way a colleague who passed last year would explain it.
Fifty multiple choice and three extended-response questions, built around real client scenarios and written for an open-book exam.
The last-week toolkit. Quick recall on the go, and one quick reference sheet for the open-book exam.
A look inside
This is the actual work, not a description of it. Genuine pieces from the notes, flashcards, cheat sheet and exam, so you can see the quality before you spend a cent. It is a taste. The full pack goes a lot deeper.
Income of the trust estate is the trust-law distributable amount set by the deed. Net income is the section 95 tax figure. Beneficiaries are taxed on a share of net income, but the share is fixed by entitlement to the trust income.
The exact wording to use, pulled out so you cannot miss it.
The three-part structure every anti-avoidance answer is marked against.
Good tax design balances them, because they tend to pull against each other.
Distinguish horizontal and vertical equity.
Horizontal equity means people in the same economic position pay the same tax. Vertical equity means those with greater capacity to pay bear more, which is the basis of progressive rates. A flat consumption tax can weaken vertical equity, because lower earners spend a larger share of income.
Print double-sided, cut, and drill them anywhere.
The Diverted Profits Tax rate is 40 per cent. Both it and the Multinational Anti-Avoidance Law apply only to significant global entities, broadly groups with annual global income of one billion Australian dollars or more.
The figures the exam expects you to know cold, even open book.
Part IVA needs a sole or dominant tax purpose, not merely a tax saving. Choosing the more tax-effective of two genuine commercial options is not enough; the question is whether obtaining the benefit was the point of the scheme.
Tips and traps sit right where people slip, so you learn the mistake before you make it.
The 80 per cent rule only matters if the results test is failed. If the entity passes the results test, it is a personal services business and the PSI rules do not apply, even if all the income comes from one client. Work the results test first.
The order of the tests is itself the mark. The notes drill it.
A trustee is preparing to distribute the income of a discretionary trust. The trust's distributable income worked out under the deed differs from the trust's net income worked out for tax. Which statement correctly describes the difference?
Fifty multiple choice and three extended response, every one worked through.
The income of the trust estate is a trust-law amount, the distributable income worked out under the deed. The net income of the trust is the tax figure in section 95, the trust's assessable income less allowable deductions. The two often differ, for example where a capital gain or franking credit is in the net income but not in the distributable income.
The first option reverses the two, because section 95 defines net income and the deed sets the distributable income. The two figures are frequently different and are not made equal by registration. And the last option also reverses the descriptions.
Every question is marked up like this. The three extended-response questions come with a model answer and the marking guide, so you can see exactly where the marks sit.
And this is a sample. The full pack has all 47 pages, 80 cards, the cheat sheet, and the complete 80-mark exam with worked solutions.
Made for studying after work
You are fitting this around a full-time job. The notes are cut down so your study time goes to the parts that earn marks, not to re-reading the textbook.
Nine modules of material sorted into what gets tested and what does not.
The modules that carry the most marks get the most space. The rest is kept short.
Worked solutions show how to take a principle and answer a scenario you have not seen.
Choose your pack
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For revision when you know the theory and want to practise under exam conditions.
Everything for the subject, from first read to the final open-book exam.
For learning the subject from scratch and building recall.
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