Tuesday, 17 May 2016

How to select a tax speciality

One of the benefits of having a career in the tax sector is being able to specialise in your area of interest. Here’s an overview of some things you need to know before choosing your focus.

A career in tax is versatile, but to optimise its versatility you first need to figure out what you want. Do you want to earn more or travel more? Are there particular lifestyle benefits you're keen on? What about political influence and meeting people? The industry you choose will determine the benefits and challenges you'll have.

Property and investment
Specialising in the ins and outs of property and investment tax issues will lead you to people who are interested in making money, including high-net-worth individuals and wealth-creation organisations.
Great for: Earning potential.

Superannuation
An ageing population, the increase in self-managed superannuation funds (SMSFs) and the complex tax issues around super all mean tax specialists in this area are in high demand. Expect to handle everything from super tax returns to SMSF structures and estate planning.
Great for: Job stability.

Corporate
There is a wide range of roles in the corporate tax sector – from audit and compliance to consultancy and advisory – and most will involve meeting with clients and working in teams on specific jobs. This environment is very supportive of graduates and you'll find that plenty of opportunities will present themselves, especially as all corporate firms and many of their clients are multinational.
Great for: Travel and international exposure.

Business
The beauty of understanding business tax is that your skills can be applied to almost any organisation, from not-for-profits to sole traders. Each industry has its own particular challenges, for example special exemptions and deductions for artists paired with the instability and breadth of their income streams. Many tax specialists find this work rewarding as it both helps businesses and provides interesting challenges.
Great for: Job satisfaction.

Policy and analysis
Interested in the mechanism of tax? Perhaps policy and analysis is the specialisation for you. A role as an economist or analyst drives everything from political platforms to tax-system reform. If you want to spearhead change as a thought leader on tax, this is your area.
Great for: Prestige and influence.

The tax industry provides steady work and a variety of roles, which is a big draw for students and graduates looking to test their skills in different areas of interest. Choosing a specialisation does require a little research so you can match its benefits and challenges to your skills, needs and interests for a satisfying career.
 Graduate Diploma of Applied Tax Law
If you are looking to specialise, consider The Tax Institute’s speciality single subjects, including AdvancedSuperannuation, Corporate Tax, and Tax for Trusts in Estate Planning and WealthManagement.



8 comments:

  1. You can always use these advices if you want to get Assignment Help in Brisbane. I had such experience recently

    ReplyDelete
  2. Thanks for the article, quickbooks is a accounting tool which is also used for tax planning it is a cost-effective tool for preparing daily accounts and it has the bank transaction feature, which sometimes a login page error occur named
    quickbooks error code 179 and it can be solved with the quickbooks rebuild error 179

    ReplyDelete
  3. Thanks for the wonderful read.
    E-waste is one of the fastest-growing waste streams on the planet. It contains a wide list of chemicals that are harmful to people and the environment, like: mercury, lead, beryllium etc. For best e-waste recycling service experience check out what e-waste recycling in UAE has to offer.

    ReplyDelete
  4. Your custom product packaging should also have a professional appearance. You don’t want it to look like a second grader designed it. So don’t go overboard with garish colors and crazy fonts–unless of course, this kind of visual mayhem represents your company.

    ReplyDelete
  5. Thank you for this article. Your article is very interesting and useful. If You have any problem related to account software, here is the complete guide for Quickbooks error 1334 .

    ReplyDelete
  6. The information you provided is very helpful. You have written an excellent post. Thanks for sharing such a useful piece of information with us.
    Read more about quickbooks connection diagnostic tool
    if you use QuickBooks for saving tax for your business.

    ReplyDelete
  7. It’s great to come across a blog every once in a while that isn’t the same outdated rehashed information. Wonderful read! I’ve saved your site and I’m including your RSS feeds to my Google account.

    QuickBooks Update Error 1625 | QuickBooks Error PS038 | QuickBooks Error 6155

    ReplyDelete
  8. The data you supplied is quite useful. If you do work related to accounts, You will be facing a lot of errors quickbooks error code 15106, for example, prevents users from downloading or installing new updates. QuickBooks cannot update because the downloaded files are faulty, according to the error notice, which offers no solutions. In this blog, we'll look at some of the easy workarounds for QuickBooks issue number 15106.

    ReplyDelete