What is a Chartered Tax Adviser (CTA)?

If you’re serious about building a career in tax, one of your long-term objectives should be to attain the Chartered Tax Adviser designation.

This is an internationally recognised, respected mark of technical excellence and professional integrity. It represents the pinnacle of the tax profession. 

The CTA designation can take your career to the heights of the tax profession. Conceived by the UK’s Chartered Institute of Taxation, it’s the ultimate accreditation for tax professionals around the world.

Here are three compelling ways a CTA designation can help you achieve more.

Vivian Wang’s life two years after graduating

I began my interest in the accounting industry through my Bachelor of Commerce in 2010 at the University of Western Australia majoring in Financial Accounting and Management Accounting with a Business Law minor. My passion for accounting picked up during the second year of my degree when I began working part-time at the R E Ledger. I was able to relate what I have learned on paper to real life situations, which was challenging yet interesting to me. I undertook an Honours year following my Bachelor degree at UWA and commenced full-time work at R E Ledger in 2014. I have completed my study with the Institute of Chartered Accountants in 2015 and am embarking on the CTA3 Advisory program with The Tax Institute in 2016.

My current role at R E Ledger is quite diverse. It varies from client meetings to tax research to preparation and review of financial statements and tax returns to supervising our junior and intermediate staff. I have had the opportunity to work closely with our director on ATO Tax Audits and company liquidations which were most fascinating.

I’ve had the opportunity to learn from and work with leading tax advisors while working on a diverse and fascinating group of clients, allowing me to gain valuable knowledge and skills on various aspects of our industry. Using these skills to help and work with clients to achieve their objectives is very rewarding for me. Another highlight would be finishing my CA study and achieving merit results for both Taxation and Financial Reporting.

I was encouraged by my mentor to join The Tax Institute to further enhance my tax skills. The Institute’s seminars and publications provide me with an excellent opportunity to enhance my tax knowledge and skills.  In addition, joining The Tax Institute provides great opportunities to meet other like-minded tax professionals.

Whether it is learning new knowledge or keeping up to date with changes within the industry, study in our profession never ends. Being proactive and never being afraid to ask questions are the key to gaining knowledge and experience. 

Want to expand your education, visit taxinstitute.com.au/education for further information.

Navigating an acquisition

Whether you’re working for the acquirer or the target, acquisitions are exciting transactions to be involved in. As an advisor, you shape how both the newly acquired business and the seller will operate.

Acquisitions typically have a wide variety of tax implications, and usually involve a large team covering corporate, international and transaction taxes. These transactions involve a significant amount of planning and careful execution to ensure every aspect has been thoroughly examined.

Planning and advising

The first stage of any acquisition involves detailed planning. This includes considering how the acquisition could be structured. For example, will the shares or assets be purchased? It can also involve looking at options to fund the acquisition.

For every possible solution, there are a multitude of tax implications that need to be identified, researched and solved. This process is complex and requires excellent problem-solving and numerical skills, as well as intellectual agility. A tax training course that focuses on high-level tax planning can help you develop these skills.

A team of advisors is usually involved in this process, with many holding specialised taxation education in areas including corporate tax, international tax, GST or stamp duty. Each member of the team plays a significant role in defining the business.

Negotiating

Negotiations are an interesting part of acquisitions and may involve several parties. Tax practitioners may negotiate with the ATO or state revenue authorities to obtain rulings on the proposed tax treatment of the acquisition. Significant technical research is required to prepare for these discussions and your persuasive skills will be put to the test when creating applications.

You may also be involved in negotiating the final sale outcome and reviewing clauses in the contract, like tax warranties and indemnifications. This requires strategic thinking and foresight to identify the best way to protect your client. These negotiations also require a high degree of discretion due to the sensitive nature of such transactions.

Documenting and executing

Once the deal is completed, there’s still plenty of work to be done. This includes documenting each aspect of the final arrangement to ensure all the necessary facts are evidenced. You may also use this to prepare the client’s compliance documents, such as tax returns and BAS statements. This is an important part of managing a client’s taxation affairs and may involve liaising with them directly to obtain information. Managing corporate taxation compliance is a good opportunity to put your tax training into practice, while also building a strong relationship with the client.

Navigating an acquisition is a challenging and rewarding experience for any taxation advisor. It provides you with an opportunity to refine your research, problem-solving and negotiation skills, while also building strong relationships with not only your client, but other advisors and regulatory authorities.


Take the next step in your tax career with the Graduate Diploma of Applied Tax Law 

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Member profile: Christine Palmer

Employer: KPMG

Position: Lawyer

I completed the dual degrees of Bachelor of Business and Bachelor of Laws at the Queensland University of Technology (“QUT”) in 2009. 
In 2010 I completed the Graduate Diploma in Legal Practice at QUT and was subsequently admitted to the Supreme Court of Queensland. In 2013 I completed the Graduate Diploma in Chartered Accounting and the CTA3 Advisory course in 2014 with The Tax Institute. I'm currently completing a Master of Laws with the University of New South Wales.
I have previously worked at BDO in the Corporate and International Tax team and the KPMG Corporate Tax team before moving to my current role in the KPMG Legal team.

Describe your current role

As a lawyer in the KPMG legal team in Brisbane I am involved in providing specialist tax dispute assistance, legal tax advisory and drafting tax legal related documentation as well as trust deed reviews.

Describe your involvement in The Tax Institute’s committees

I have been a member of the Graduate Diploma Committee since late 2014.  I have lectured for The Tax Institute.

What are your career highlights?

I have enjoyed every opportunity that has been provided to me.  No one particular highlight stands out but I was particularly excited to join the KPMG Legal team this year.

Why did you join The Tax Institute?

I joined The Tax Institute as a way to get involved in the tax community here in Brisbane and to enhance my tax technical knowledge.

What inspires you?

I have always found tax law fascinating as I see it as one of the foundations of a society and is politically driven. Tax law is technically and intellectually challenging and requires you to be continually learning. Every transaction will have a tax implication and being able to help clients manage their taxation obligations in a commercially realistic manner is professionally rewarding and is why I enjoy coming into work every day.

What advice would you give to graduates?

There are no silly questions but always take an issue as far as you can and have your views on it before asking the question. Have a go at the solution before you ask your question.

What do I do to unwind?

I like to play trivia, read, watch tv, go to the movies, shop and spend time with my family and friends.

Favourite holiday destination?

I love Scotland. It is so beautiful.