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Tax Agent Certification Course

Why study a Tax Agent Course?

If you are on this page, you were considering studying either Monarch’s FNS50215 Diploma of Accounting, FNS60215 Advanced Diploma of Accounting, or exploring becoming a Registered Tax Agent with the Tax Practitioners Board (TPB). The great news is you can add the Tax Agent Certification Course to the Diploma of Accounting, or study our Advanced Diploma of Accounting which automatically includes it. Monarch’s Tax Agent Certification (“TAC”) course is a TPB Approved Course, meeting the TPB education criteria required to become a Registered Tax Agent. It covers the prescribed skill set in Australian Taxation and Commercial Law.

How does it work?

Simply complete the FNS50215 Diploma of Accounting enrolment form choosing to add the TAC course for an additional $795, and our Online learning management system will automatically include the extra module you require to gain your TAC qualification.  Just to be clear, the TAC course is not a substitute for the Diploma of Accounting – you need both to become a Registered Tax Agent. Alternatively, complete the FNS60215 Advanced Diploma of Accounting enrolment form which automatically includes the TAC.

Can I enrol in the TAC module stand-alone, or at a later date?

Yes. However, you must select the TAC course when enrolling in the FNS50215 Diploma of Accounting at the outset to receive the $795 bundled pricing. The standard TAC course fee is $1,495. Students who enrol in the FNS50215 Diploma of Accounting and at a later date choose to enrol in the TAC course pay the standard fee, as do students enrolling on a stand-alone basis.

How do I enrol?

Please complete the TAC course enrolment form on this page, unless you are enrolling in the FNS50215 Diploma of Accounting bundled with TAC whereby you complete the FNS50215 Diploma of Accounting enrollment form choosing the TAC course as an add-on for $795. Alternatively, enrol directly into the FNS60215 Advanced Diploma of Accounting that already includes the TAC.

Is there an open book exam?

Yes – this is a requirement by the TPB for all Approved Courses. Please refer to the ‘Assessments’ section below for details.

Next steps to become a Registered Tax Agent

Monarch’s FNS50215 Diploma of Accounting plus TAC, or FNS60215 Advanced Diploma of Accounting course fulfills the education criteria required to become a Registered Tax Agent. Additional requirements include; being over 18 years, satisfying a fit and proper person test, 2 years experience in the past 5 years, and obtaining professional indemnity insurance. Go to the TPB website for more information, or call our friendly course consultants on 1300 738 955 for more information.

Course Modules

  • Module 1 - Australian Taxation Law
    1. Tax treatments for individuals
    2. Concepts of income (assessable and exempt), deductions, tax offsets, tax losses
    3. Employee remuneration including fringe benefits tax
    4. Termination payments
    5. Capital gains tax
    6. Annuities and foreign pensions
    7. Small business entities & trading stock as applicable to individuals
    8. Tax anti-avoidance provisions
    9. Ethical and professional responsibilities of tax (financial) advisers including obligations under the TASA and TASR
    10. Tax treatment for entities such as trusts, partnerships, companies, primary producers, associations
    11. Superannuation and self-managed superannuation funds – taxation of contributions fund earnings
    12. Fringe benefits tax
    13. Capital gains tax
    14. Goods and services tax
    15. International taxation
    16. Tax administration including assessments, amendments, objections and compliance
    17. Tax planning
    18. Regulatory framework for tax practitioners
    19. Code of conduct
  • Module 2 - Commercial Law
    1. Introductory contract law
    2. Contract formation, validity and performance
    3. Fundamental legal concepts of business organisational structures
    4. Aspects of the law of torts, especially negligence and negligent misstatement
    5. Key provisions of the Competition and Consumer Act, particularly those relating to misleading and deceptive conduct.
    6. Framework of the Australian legal system
    7. Negligence and risk
    8. The Company – a separate legal entity
    9. Directors duties
    10. Choosing a business structure
    11. Trusts.
    12. Interests in real property
    13. Shared and transferred interests
    14. Personal property
    15. Intellectual property
    16. Managing property risk
  • Features

    Engaging content. Amazing Support. 

    Online Study or Workshops
    Online Study (Self-Paced)
    • Easy-to-read course materials (including posted hardcopy textbooks)
    • Meets the Tax Practitioners Board (TPB) education requirements.
    • Telephone Support from our Accredited Trainers
    • Email Support from our Accredited Trainers
    • Online Assessments
    • Online Student Forums
    Workshops (Face-to-face)           Online Study Support PLUS

    • Workshop contact days: 4 days
    • Facilitated by expert industry qualified trainers
  • Online vs workshop

    Online Learning – any time, any place, with maximum flexibility:

    Online learning allows you to start a course when and where it is convenient for you to study. It is particularly popular with stay-at-home parents, full time employees, or anyone seeking maximum flexibility because you can choose the pace you study (fast or slow).

    You are very well supported throughout your course. A dedicated Online education support team allows you to discuss your course work on a one-on-one basis with a specialist Accounting trainer. Your trainer is happy to contact you via phone, Skype, or email between Monday to Friday 9am to 5pm as you progress through the course, so you definitely won’t feel alone. You also have access to Online discussion forums via Monarch’s state-of-the-art learning management system providing access to an online learning community of fellow students.

    Please CLICK HERE for more information about studying Online with Monarch.

    Face-to-Face workshops – CBD training nationwide

    We offer intimate ‘small class room’ training (i.e. no more than 15 students per trainer) at our state-of-the-art training facilities just minutes from the CBD in all major States. All  training materials are included in our prices.

    We would be pleased to record your interest in any of our face-to-face courses and will let you know as soon as the course is confirmed to proceed. Please note, there must be a sufficient number of students for the face-to-face courses to proceed. Monarch as such reserves the right to cancel or reschedule courses due to insufficient student enrolments or other factors.

    Your office

    Monarch Institute provides onsite training for group instruction (minimum 6 staff). Please call us or email us, if you represent a company or organisation with more than 6 staff that require face-to-face workshops conducted at your office.

  • Pricing

    Tax Agent Certification (“TAC”) Module  – Detailed Pricing

    You can choose to enrol in the FULL Tax Agent Certification Course or alternatively you can enrol in just individual units (see prices below). There are substantial savings when enrolling in the full course.

    Tax Agent Certification Online (self paced)
    Education
    Face to Face
    (workshops)
    Module 1^ – Australian Taxation Law $650 $1,500
    Module 1  – TPB Exam Requirement (Australian Taxation Law) $275
    Module 2 – Commercial Law $650 $1,500
     Module 2 – TPB Exam Requirement (Commercial Law) $275
    Stand Alone TAC Course – Save $1,495 $2,850
    TAC bundled with Diploma of Accounting* – Save $2,995 $5,325

    ^Module 1 (Australian Taxation Law) does not need to be undertaken if you have already completed it as part of Monarch Institute’s FNS50215 Diploma of Accounting. The TPB still however require you to complete a short exam for Australian Taxation Law (refer to the assessment section below).

    *The Tax Agent Certification (“TAC”) Course price is $1,495 (Online study). If the TAC course is added to the FNS50215 Diploma of Accounting enrolment at inception, the TAC course price is reduced to $795 i.e. FNS50215 Diploma of Accounting plus TAC is $2,995.

    All students studying at Monarch Institute are regarded as undertaking a course or qualification by Online (self-paced) education. Students may also choose to attend optional workshops which are facilitated by a recognised industry expert (‘facilitator’), in this instance a Accounting and Tax Professional. All Monarch facilitators are nationally recognised trainers and assessors under the Australian Quality Framework (AQF). To successfully complete the Tax Agent Certification Course, pre-reading, attendance at optional workshops (if applicable), self-study and post-workshop assessment is required. It is a Tax Practitioner Board (TPB) requirement that two exams be undertaken. The first exam is for Australian Taxation Law, and the other exam is for Commercial Law. Refer to the Assessments section (below) for more information. Refer to workshop availability times under the timetable section. Refer also to the Student Information Guide.

  • Duration

    You have up to 1 year to complete the Tax Agent Certification (“TAC”) course, and many complete it in less time.

    We find our students complete the TAC course in varying time frames. It really does depend on your life situation. That is, your time availability, background, ability and work rate. There is no set minimum length of time to complete the course, however the maximum duration is 1 year. There is also a requirement that you complete each module within 6 months (i.e. 2 modules times 6 months = 1 year maximum). You have two study options; Online learning and Face-to-face workshops.

    Volume of learning: We have found people that work in the financial services industry with experience and understanding of the key Accounting concepts complete the course in as little as 4-7 months. Other students that have no experience or understanding of key Accounting concepts take closer to 1 year.

  • Accreditation

    Monarch Institute is an Approved Course Provider with the Tax Practitioners Board (TPB), with Australian Taxation Law and Commercial Law units listed on the TPB website. Other requirements also apply for registration as a Tax Agent with the Tax Practitioners Board (TPB). Please refer to the www.tpb.gov.au.

    Units of competency:

    The Tax Agent Certification (“TAC”) course includes the following two modules. Please note, the course content in the first module below (i.e. Taxation) is covered and equivalent to Module 4 of the FNS50215 Diploma of Accounting.

    National Code  Unit Title
    Module 1 (TAC) Taxation 
    FNSACC502 Prepare Tax Documentation for Individuals (MTL001)
    FNSACC601 Prepare and administer tax documentation for legal entities (MTL002)
    FNSACC603 Implement tax plans and evaluate tax obligations (MTL003)
    Module 2 (TAC) Commercial Law
    FNSTPB503 Apply legal principles in contract and consumer law (MCL001)
    FNSTPB504 Apply legal principles in corporations and trust law (MCL002)
    FNSTPB505 Apply legal principles in property law (MCL003)

    Please note, it is a requirement by the TPB that the TAC course include exams. Please refer to the ‘Assessments’ section (below) for how exams are conducted.

  • Assessments

    Monarch has carefully structured its Assessments to include a variety of formats which will enhance your understanding:

    • Calculation questions
    • Multiple choice questions
    • Short answer questions
    • Case study and scenario-based questions

    Will I have to complete an exam?

    The Tax Practitioners Board (TPB) requires the  Tax Agent Certification (“TAC”) Module to be completed via 2 X 2 hour open book exams.

    The first exam covers Australian Tax Law. The second exam covers Australian Commercial Law. The exams do not need to be completed at the same time, in fact it is suggested they are not.

    Please note, if enrolling in the full FNS50215 Diploma of Accounting (Module 1 – 4) only, there are no exams rather assessment tasks described above (eg calculation, multiple choice, short answer, and case study questions completed in a student’s own time).

    What is included in the Tax Agent Certification (“TAC”) exam?

    Each exam consists of 30 multiple choice questions and 6 short answer or calculation questions.

    Where do I do the exam?

    The Tax Practitioner Board (TPB) specifies students can complete the exam at any location provided they are independently supervised according to the terms and conditions of independent supervision as specified by the TPB.

    For more details on the requirements of independent supervision, please contact one of our friendly course consultants.

    What standard of English and Maths will I need?

    Our free online assessment tool can help you determine the broad language, literacy and numeracy standards (i.e. English and Maths standards) required to study a Diploma level course. You can access the free tool by CLICKING HERE

  • Career opportunities

    Management Accounting & Financial Accounting Careers

    An Accounting career is a great profession often involving different types of work depending on the job role, company, and industry.  Accounting can broadly be broken up into two key areas;

    Management Accounting; involves completing tasks and producing reports that inform company management about financial decisions relating to the operations of the business. These decisions that management accountants help to define, are generally forward looking. For example, a management accountant might provide the information to a department head or CEO about the financial issues and consequences of undertaking a strategy.

    Financial Accounting; involves completing tasks and producing reports based on historical information. These reports provide management and external stakeholders including banks, financiers, shareholders or government agencies with an important snapshot of the company’s current financial status. A financial accountant will help the CEO, head of a department, or board of a company to understand what financial issues and opportunities exist at any given time.

    What job roles exist?

    Depending on your level of experience, the following Accounting job roles exist:

    • Registered Tax Agent
    • Budget Analyst
    • Financial Analyst
    • Accounting Manager
    • Financial Controller
    • Forensic Accountant
    • Management Accountant
    • Financial Accountant
    • Auditor
    • Government Accountant
    • Chief Financial Officer (CFO)
  • Study pathways

    Recognition of prior learning

    Monarch Institute recognises Recognition of Prior Learning (RPL) which takes into account the knowledge and skills you have already gained through your previous education and work history, attributing this to your FNS50215 Diploma of Accounting or FNS60215 Advanced Diploma of Accounting. This may be through formal or informal training and can result in credits towards your qualification. More information about RPL is contained in Monarch’s Student Information Guide.