Soft versus hard skills

If you dream of a career in tax or accounting, you’ll need to be a master at identifying fiscal inconsistencies, understanding government legislation and balancing your clients’ books. But although these technical (or hard) skills are intrinsic to succeeding in your future profession, soft skills, such as your ability to form good relationships with customers and your willingness to work as a team, will make you more attractive to prospective bosses.

Cultivating both your hard and soft skills while you study isn’t as challenging as it might seem. Here are four top ways to supercharge your employment potential by proving you’re a candidate with the total package.

Get a customer-facing part-time job

The idea that accountants and taxation professionals crunch numbers without customer interaction is a thing of the past. These days, working in the accounting industry means communicating with clients, resolving their problems and learning to respond to their social cues. Getting a part-time job in hospitality, retail or customer service while you study can help you understand the art of anticipating and responding to customer needs. Once it’s time to put those soft skills into practice, it’ll be second nature.

Obtain a further qualification

An undergraduate qualification in taxation or accounting is not enough to make you stand out. Whether it’s learning a piece of up-and-coming financial software or brushing up on your knowledge of new legislation by enrolling in The Tax Institute’s Graduate Diploma of Applied Tax Law program, investing in your hard skills can be a shortcut to competitive advantage.

Education: Our programs and single subjects help you achieve your full potential in your career, your workplace, and in the profession. Enrol before 25 June and save $100.

Take up a team sport

From collaborating with IT vendors to working with senior management, taxation professionals must be increasingly equipped to meet individual deadlines while working as part of a larger team. Taking up an after-hours sport such as soccer, football or tennis can help you learn how to work with colleagues, anticipate co-workers’ strengths and weaknesses and thrive in a team environment – an all-important soft skill that’s bound to put you ahead of the pack.

Study a second language

A career in accounting can set the stage for international opportunities, but a working knowledge of audit procedures isn’t enough. Signing up for an after-hours class to learn a second language can seriously boost your set of hard skills while broadening your professional horizons.

Although hard skills are critical if you want to establish a career in taxation or accounting, teamwork, communication and customer service play an indispensable role as well. What moves have you recently taken to boost your hard and soft skills?

Find out more about our education program and professional development subjects.

The X factor – 4 ways to stand out in your firm

So, you’ve blitzed the competition and have landed a role at the professional organisation of your dreams. Congratulations!

But don’t get too comfortable.

Winning over a hiring manager is just the first phase when it comes to proving your worth. Taking the initiative and making regular contributions will help you stand out as your firm’s newest shining star.

Here are four tried-and-tested strategies for stepping up from the first rung on your career ladder.

How to shine at a networking event

Whether you’re a seasoned tax professional or junior practitioner, few activities have as much potential for business development and career advancement as networking with peers, influencers and prospective clients.

A networking function can help you forge real-world connections with people you might otherwise only know via email or social media. It enables you to represent your organisation to potentially valuable, influential contacts. However, making and nurturing contacts at such occasions can be challenging if you don’t take the time to prepare.

Here are some ideas on how to best represent your firm at a networking event.

Career alternatives for tax graduates

An assumption often made about students pursuing a degree in tax is that they’re on the fast track to a certain career in accountancy. However, not every tax graduate follows suit. So what are some of the other career options available?

Tax-based education gives you a unique combination of skills, including the ability to be a team player, the ability to not be a team player, communication skills, research skills, maths skills, analytical skills and commercial awareness. The combination of these means you’re equally well prepared for a numerical, analytical or communication-based role. After completing postgraduate tax training, you are spoilt with a unique spread of career options.

Here are five paths you might consider.

Making it in professional services - beyond the technical

When you embark on a career in an area of professional services, such as tax, you’ll naturally look for ways to gain value from every opportunity at work.

For example, performing technical tasks presents an opportunity to display your skills and enthusiasm, thereby impressing those who may help you achieve your future career aspirations.

Raising your profile

Enhancing your career prospects involves raising your profile internally and externally, among clients, within your industry, and within your organisation.

To achieve this, you should know how to use both social media and modern mainstream media to your advantage. And you should know how to build relationships as a trusted client advisor.

It’s also advantageous to know the role passion plays in performance, developing a real interest, better understanding and awareness.

Anticipating problems and displaying judgement

Another career-enhancing activity is to show good judgement and initiative with clients.

This involves knowing when to seek guidance and when not to, knowing what has and hasn’t already worked, and identifying the end goal in a matter (as well as your role in achieving it).

Over time, you will become increasingly skilled at anticipating problems before they arise.

Following through and showing resilience

How do you continually plan, think forward and meet deadlines without fail? How transferable are your skills, and are you able to use tax skills in different environments?

In terms of career moves, what’s acceptable and what is unacceptable? How and when should you advance by moving from one firm to another?

These are all decisions that require knowledge, nerve and the ability to take action at the right time.

Applying a professional approach

A professional approach involves knowing the best way to present research and advice within your organisation, and knowing how Partners like to be treated at any time.

You should also understand the relevant conventions in your firm, in terms of operational issues, file management and document development and distribution.

Office relationships and conflicts

It’s useful to observe and analyse your workplace culture to know which behaviours are appropriate and which are not.

To do this, you might ask what has and hasn’t changed in the last 30 years? Are there significant value differences between Partners and Millennial employees? How do you deal with difficult people and pressure generally?

In terms of support networks, you can consider what makes a good mentor and how you might find one. It’s also worth anticipating, in the event that an office conflict breaks out, the strategies you might employ and who you can turn to.

Juanita Sands’, FTI, compelling story about following your career dreams

Throughout my education I always had a passion for maths and not much else besides reading.  My high school teachers loved telling me I should do something like accounting when I grew up, but being a teenager who did the opposite of what teachers said there was no way I was going to become something boring like an accountant. After starting a maths, psych and law degree, I ultimately ended up at TAFE doing an office administration certificate and loved the accounting subjects and have not looked back since.

After spending 12 years at a local accounting firm, I made the decision to move into a Senior Analyst role with Deloitte. My current role is very broad and diverse working is areas such as:

•  business advisory services – working with small to medium
• tax review of large corporate clients for our audit team, some of whom are listed
• tax provisions for large and listed corporations 
• provide advice for and oversee half of our local office’s self-managed superannuation funds
•  tax advice for our office on a range of areas. To name a few
• Small business CGT concessions – this and super are on of the greatest tax advantages for small business’
• Employee benefits - eligible termination payments, fringe benefits, employee allowances
• Research & Development
• Assessing grant income
• Taxation of trust income
• Deceased Estates

My most satisfying moments are helping others with tax questions, whether small or large questions and helping them to grow their knowledge.  Having people say ‘but how do you know that’ or ‘where do you know to look for the answer’ then showing them how they can get that knowledge.  I found that The Tax Institute is one of my favourite search websites.

I had the opportunity to attend a few of The Tax Institute’s  Tasmanian State Conventions and when I attended a National Convention in 2010 I was given the opportunity to apply for membership at a reduced rate which I took. The resources that The Tax Institute have on the website is great for any sort of tax research and the publications on offer have a great hands on approach to working through complex areas of practice. Membership provides me with access to these and discounts to the many training sessions.

I am currently completing the Tax Institute’s GraduateDiploma of Applied Tax Law and enrolled in the Advanced Superannuation, with Corporate Tax next semester being my last subject.  The Graduate Diploma has been good to cement the knowledge that I already have.

I have now been in accounting for over 15 years and am a single mum to a gorgeous and smart college student.  My daughter inspires me every day.  When starting college this year she was really nervous and concerned about the challenges that she would face.  She accepted the challenge and came out of the first day smiling and ready to take on the world.  This is the way she deals with all challenges in her life.  Having worked full time since she was in primary school and part time while I studied before that I found that work/life balance can be a juggle but is very rewarding being a mum, while working full time.

 To find out more about the Graduate Diploma, visit taxinstitute.com.au/education.

Learning beyond university: Taking your degree to the next level

You’ve spent years taking undergraduate tax courses and finally scored yourself a graduate position. You’re ready to hit the ground running, right?

Well, no actually. Most firms want their new recruits to complete further studies within their first year, such as the Tax Institute’s CTA1Foundations, to bridge the significant gap between academic principles and workplace practice.

We asked four senior staff members from leading accounting and financial services firms, such as Barringtons, DKM Group, Moore Stephens and Westcourt, to explain why they expect their early-career staff members to undertake a tax course with a vocational focus.

Plugging the gaps

The taxation education provided at Australia’s tertiary institutions is of a high standard, but no matter how prestigious the university you went to or what grades you achieved, there is still plenty you need to learn.

“Universities touch on many aspects of tax in their degree courses,” says Anne Goode, associate director at Moore Stephens. “Within a six-month study period the level of detail that can be taught is limited. That’s why we enroll all our tax and business service graduates in CTA1 Foundations. It’s a way to refresh the university course material and complement the in-house training.”

More training equals faster advancement

If the thought of hitting the books five minutes after graduating has you rolling your eyes, consider the fact that undertaking a tax training course will allow you to take on challenging projects sooner than might otherwise be possible.

“Getting graduates to do the Tax Institute’s CTA1 Foundations gives them a general overview – or refresher – in Australian tax law and reduces their write-offs and the consumption of existing staff resources [in supervision] during their first six months on the job,” says Ross Forrester, director at Westcourt. “Once they they’ve completed the course they can move on from just the fundamental professional work to doing simple research tasks.”

Leigh Dyson, senior manager at Barringtons, echoes Forrester’s remarks. “Staff who have completed CTA1 Foundations have a much better understanding of the tax framework and key provisions and don’t require as much supervision or to have basic concepts explained to them. Once staff are enrolled in the course we can get them to start doing compliance-based work, such as tax returns and BAS, which require an understanding of key concepts.”

Boost your soft skills

“I can remember the days when a textbook had so much value – now you can Google everything,” says Daleen Van der Merwe, HR manager at DKM Group. “How do you differentiate yourself in that environment? It’s about having skills.”

Van Der Merwe believes a tax training course such as CTA1 Foundations can teach those skills, creating savvy, sure-footed operators rather than uncertain newbies who are going to cause “other team members’ time to be wasted fixing errors”.   

Read about the importance of soft and hard skills.

Still need convincing about the wisdom of signing up for a post-university Australian tax course? We’ll give the final word to Ross Forrester: “CTA1 Foundations is not an intimidating course for younger staff, but it is an effective one, allowing them to better operate in a professional firm. And it sets them on a pathway to the CTA2A and CTA2B Advanced, which gives them the knowledge needed for a professional advice firm.”

Looking for that competitive edge? Look into completing The Tax Institute’s Programs, Single Subjects or Short-Courses.

Find out more.

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.

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.

Find out more

5 aspects to help you choose your ideal career

Choosing a career is among the most important decisions you’ll ever make, so how do you know what your ideal career is? You've already narrowed down the options by selecting your degree, but the planning doesn't stop there.

Next, you need to think about which practice area interests you, what kind of organisation you want to work for and which industry you ultimately want to work in.

As a tax professional, you’ll have the opportunity to work in a variety of industries, from financial services to fashion. There are plenty of opportunities, so how do you decide? Here are five fast tips to help you identify your ideal career.

Assess your skills

When it comes to choosing your profession, it’s critically important to know where your strengths and talents lie. By aligning your natural skills with your chosen profession you’ll have a greater chance of success and career fulfilment. For instance, if you have a thirst for knowledge and are always looking for ways to improve things, it might be worth thinking about a career in tax, since tax laws change constantly.

Survey your family and friends

Often your family and friends represent a wealth of insight into your habits, behaviours and the areas in which you excel. That’s why it’s worth asking them to list your skills and talents as well as the character traits that they admire – you may be surprised at what this process reveals.

Take the time to write down your top 10 strengths and abilities. Be honest and list everything you’re good at. You might also like to make a list of qualities you’d like to improve upon. How does this match up to the options you’re considering?

Pay attention to what excites you

Often, the things that excite us offer powerful clues into the career that will fulfil us the most. So next time you feel a charge of excitement when you achieve something, don’t ignore it – that feeling is a clue to the kind of work you’ll find fulfilling. Make a list of all the things that interest you and that you enjoy doing. Then compare it to the list of your strengths and abilities. Where do they overlap?

Establish your priorities

It’s important your chosen career reflects your lifestyle aspirations and personal goals. If you value a work-life balance, it pays to pick a job that doesn't demand to toil around the clock. If you require a solid, steady income that will allow you to thrive financially, make sure you pick a stable speciality for which you'll encounter regular demand. As a tax professional, you can expect your specialised knowledge to be in high demand from business, government and private citizens, leading to steady employment.

Embrace internships and work experience

Internships and work experience will give you a powerful insight into what you love and what you loathe. Throughout your studies, take the time to approach companies you’d like to work for and offer your services for free – it’s an investment of your time that’s bound to pay professional dividends. Try working for organisations of different sizes to reveal what type of workplace you are most comfortable with.

Finding the right career takes time, as well as a good understanding of your own strengths, interests and priorities. Once you have a clear picture of what’s most important you’ll be on track to finding your ideal career.

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

Find out more

How LinkedIn can boost your career opportunities

There are now nearly 400 million LinkedIn users across the world. Today's employers are moving to LinkedIn – instead of job boards – to find and recruit top talent. This means that having an optimised and up-to-date LinkedIn profile can help tax students with career prospects now and in the future.

Social professional networks are now considered an essential tool to reach out to potential employers. According to LinkedIn’s Australia & New Zealand Recruiting Trends 2016 report, 40 per cent of surveyed talent leaders say using social professional networks is an essential and long-lasting trend for employer brands to guarantee quality hires. So if top-tier employers are looking to LinkedIn for their next round of hires, it’s important your profile meets the grade.

While LinkedIn may be the online equivalent of traditional networking, the tactics you employ to guarantee success apply in a different way. Here’s how you can attract the eyes of higher-ups from top-tier tax firms with your LinkedIn profile.

Show off your skill set

As with a traditional CV, the skills portion of your LinkedIn profile is an important area that demonstrates your industry expertise. While on a CV the skills may appear as standalone claims, LinkedIn allows your connections to endorse your attributes, showcasing your top 10 skills based on endorsements on your profile. 38 per cent of employer recruiters consider sourcing highly skilled talent as their top priority as we move into 2016. Having active connections offering real-time accolades for your skill set will prove to be a valuable feature on your profile.

Feature any industry-specific memberships

If you belong to accredited organisations in the tax industry – such as The Tax Institute – use the organisations section to highlight your membership and status. LinkedIn is a keyword-rich site, so any opportunity to optimise your profile with relevant search terms will increase the odds of it being viewed by a recruiter or HR manager.

Include tax-specific coursework

As a recent tax graduate or current student, one of the most attractive traits you possess is your education. While a degree is an achievement in itself, it is also worthwhile to highlight any industry-related coursework that could impress potential employers. This might include any on-the-job training or work offered by organisations while you were studying. This section can prove to be particularly valuable if you see yourself entering a niche area of tax.

Join relevant groups

There are thousands of LinkedIn groups you can join. They range from general interest to industry specific and can be a great place to find out about news and changes in the tax industry. Join The Tax Institute LinkedIn group to build your tax knowledge and engage with industry peers.

Being active in groups can also make you more attractive to potential employers who are members. Keep in mind that if you start a conversation, it's important to follow up on comments and questions.

An active LinkedIn profile can improve the odds of your name being seen by potential employers, creating opportunities that have long-term benefits for your tax career.

Take control of those first-interview nerves

You’re nearing graduation and have lined up a number of job interviews. It’s understandable that you’re nervous, but don’t let those pesky butterflies stop you from showing your interviewers that you’re the right candidate for the job. Be prepared and stay focused so you can tackle those interviews with confidence.

1. Know the role

Make sure you fully understand the context of the role for which you’re interviewing. This knowledge not only puts you at an advantage for the interview, but also demonstrates that you’re interested in this specific job – not just any job.

With this in mind, do the following:

• Research the company. Get a handle on what the company does, how long it’s been doing it, what the company culture is like and what its values are.
• Research your interviewer and the hiring manager. A trusty Google search and LinkedIn are great places to start.
• Read any materials your interviewer may have provided, such as the job description or information on company structure.
• Research the industry as a whole and the company’s competitors.

2. Find out about the interview process

Learn as much as you can in advance. How many rounds of interviews is the company conducting? Who will you meet throughout the process? Will you have to undertake any tests? If you’re working with a recruiter, a good one will provide this information immediately. If not, don’t be afraid to ask for more information so you can eliminate as many surprises as possible.

3. Prepare answers to likely questions

Most entry-level interviews focus on similar themes. It’s a good idea to give some thought to how you’d respond to the following:

• Tell me about yourself: This is a starter question aimed at relaxing you and getting you talking. Make sure you use it to focus in on the things you want to say.
• Why did you choose your field of study? The interviewer will be looking for your passion and commitment to your chosen field.
• Tell me about some work you’ve completed in this field: This question gauges your textbook and practical knowledge. If you haven’t had the opportunity to work in your field, get proactive and seek out an opportunity. Whether volunteered or paid work, this experience will speak volumes to potential employers.

4. Have questions of your own

With the research you’ve done, you should be able to ask some questions that demonstrate a greater depth of understanding of the company and the industry.

5. Take a deep breath

On interview day, take your time answering questions – don’t panic if there’s a short silence between the question and your answer. Also, make sure you’re answering the right question. If you don’t understand what they’re looking for, ask the interviewer to repeat or clarify the question.

The interview process isn’t just about whether the company is comfortable with you as an employee. It’s also your opportunity to understand whether the job and company are right for you.

The dos and don'ts of networking as a graduate student

As a recent graduate, armed with a catalogue of up-to-date theoretical knowledge in your back pocket, you have the unique ability to solve problems that even veterans of the game might have trouble with. However, your first networking event can be a bit daunting.

Networking is a vehicle that can potentially accelerate your career faster than anything else. However, you need to take the correct approach from the outset. Here are the dos and don'ts of networking as a graduate student.

Socialise

While your main aim for the evening might be to speak with the top dog at a networking event, that doesn’t mean you need to go in all guns blazing. Remember, this is a cocktail event and you are here to socialise first and foremost. Solidifying working relationships should be natural, not forced.

Be genuine and approachable

To ensure you have the right approach to the night, try to connect with people on a personal level. People respond to passion, so approach your colleagues on common ground. The more compelling and believable the information you share, the more likely they will be to respond with the same enthusiasm. They may even remember you by the association you create: “Joe is passionate about charity in Brazil and studies tax accountancy.”

Be specific

When you do manage to lock down your ideal target – such as an executive of a top-tier firm – it’s important to be genuine as well as specific. The typical day-to-day role of an executive often means they are thinking about any number of things at one time, ranging from the present state of their business to forecasting several years in advance. It’s safe to say that their thought processes are in a big-picture capacity.

Create a memorable impression by providing them with something tangible to consider. Are you looking for an internship over the summer break or a graduate position? What is it you can offer them, and how might they benefit from accepting your proposal? Whatever it may be, ensure you arrive prepared and capitalise on your moment.

Circulate

You might have a few industry heavyweights in your sights at the start of the night, but that doesn’t mean you should exclude any connections that aren't the top dogs. A diverse network of connections – consisting of a range of job titles, industries and locations – could offer opportunities for your career that you never quite envisioned. Remember the old adage: “It’s not what you know but who you know.” You just never know how or how well people at a networking event are connected.

Follow through

Once you have made a lasting impression, it’s important to enforce your credibility with the follow-up. If you have locked in a proposal or a catch-up over coffee, delivering on that commitment acts as a guarantor for your reputation. A strong reputation in the industry can do wonders in building the confidence others have in your abilities. Reputation is lasting and can offer you rewards well beyond one night’s interaction.

A successful evening of networking can have immediate as well as long-term benefits for your tax career. As long as you enter the night with enthusiasm and a firm approach in mind, it could be what sets your career in motion.


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

Find out more 

The X factor: Four ways to stand out in your firm

So you’ve blitzed the competition and landed a role at the accounting organisation of your dreams. Congratulations! But don’t get too comfortable just yet.

It pays to remember that winning over your employer is only the first phase when it comes to proving your worth. Taking the initiative and making regular contributions can go a long way towards helping you stand out as your firm’s newest shining star.

Here are four tried-and-tested strategies for moving past the first rung on your career ladder.

Be as proactive as possible

When you’re a new hire at the start of a learning curve, it can feel daunting to take the reins – you don’t want to appear like you’re overstepping your rank. But whether you offer to help an overworked colleague, volunteer for a new project or voice your opinions in a meeting, taking decisive action shows your employer you want to be considered a future asset.

Invest in your professional development

Few things impress a boss more than an employee who is committed to improving their knowledge and learning new skills – even if they already have a degree under their belt. Enrolling in a Graduate Diploma or applying to become a registered tax agent at The Tax Institute is proof that you’re willing to continually invest in your professional development. This sends the message that you’re unwilling to be complacent, and also increases your value as an employee in the process.

Flag issues as they arise

Although it’s tempting to take on tasks without thinking about the consequences, the ability to anticipate and articulate obstacles and issues is a powerful quality that will put you ahead of the pack. From a bottleneck sparked by a client project or a resourcing shortfall that will put your firm behind a deadline, flagging potential problems with your manager isn’t just testament to your skills as a communicator – it’s also proof of your commitment to doing the best job.

Implement a new initiative or system

Remember that star employees don’t just follow instructions – they’re team players who are unafraid to bring new ideas to the table and reinvent the status quo. Implementing a working method that eliminates reconciliation errors, coming up with a project-management system that leads to greater collaboration or simply suggesting a social activity that your colleagues can enjoy together are sure-fire ways to set yourself apart.

It’s important not to rest on your laurels if you want to prove you’re the kind of hire who is prepared to do whatever it takes to master your role.

Whether it’s showing you’re willing to make effective decisions or mustering the courage to talk about problems, stepping out of your comfort zone can help establish your professional credentials in a way that could see you climbing that career ladder sooner than anticipated.


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

Find out more 

How to build your resume while you study

These days, achieving a high-distinction average or mastering your taxation law units aren’t enough to land the job of your dreams. Recruiters and hiring managers are increasingly looking for candidates who combine academic rigour and industry passion with focus, drive and initiative. If you’re still studying for your degree, there are countless ways to prove to your potential employer that your contribution to their business will go well beyond balancing the books.

Here are four strategies for building your resume while you study – because it's never too early to start making a mark on your career.

Volunteer at a not-for-profit

If you’re a third-year accounting student, you could be a valuable asset to a business that couldn’t otherwise pay for your skills. From under-resourced charities that grapple with financial administration to not-for-profits that could benefit from simple bookkeeping, offering pro-bono services can seriously bolster your resume. It can also show employers that your social conscience matches your commercial instincts.

Start a side project

Extracurricular passions aren’t a distraction from your career – they can make you more attractive in an employer’s eyes. Companies are seeking out well-rounded individuals with a range of interests and passions, rather than workers who live for the daily grind. Whether you’ve always dreamt of designing a mobile app, starting a fundraising initiative to help disadvantaged students or planting a community garden, a side project can show your future boss that you’re equipped to put plans into action.

Land an internship

Yes, it may be the obvious, well-trodden avenue, but for good reason. Finding an internship with a company in your industry can accelerate your path to employment and help your resume land at the top of the pile. By working with professionals in your sector, you don’t just gain valuable industry experience and a network of contacts – you’re also better placed to pursue a path that interests you once it’s time to start applying for jobs.

Learn something new

Although future tax professionals are often meticulous and numbers oriented, this doesn’t mean you can’t explore the other side of your brain. Learning a new language, taking a writing class or enrolling in a professional communication course can make you valuable for employers looking for candidates that can connect with their clients – while proving that you’re committed to your personal growth. Alternatively, it’s just as useful to train yourself in an up-and-coming accounting program, take advanced Excel tutorials or brush up on a much-hyped piece of software that businesses are planning to adopt.

From taking a short course to launching a side project, there’s no shortage of steps you can take to build a sparkling CV. What steps did you take to make your resume stand out?


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

Find out more

Four graduate attributes that make employers drool

So you've got a graduate or even postgraduate tax qualification and you're looking to land a prestige tax or accounting position? If you want to separate yourself out from the pack, demonstrating these four attributes will keep you top of mind with hiring managers.

An inquiring mind

American writer John Maxwell famously observed that a person who knows how will always have a job, but that the person who knows why will always be the boss. Your recent tax qualification will hopefully have encouraged you to constantly ask that crucial ‘why?’ question. James Collacott, dux of the Tax Institute's CTA2 Advanced course, notes: "After having completed CTA1, I knew that I needed to move my knowledge to the next level if I was going to be able to progress my career in taxation. The Australian tax system is complicated and the CTA2 Advanced course allowed me to apply my new knowledge immediately and apply the principles I’d learnt to the tax affairs of the firm’s clients.”

Connections

Most jobs are never advertised, meaning if you aren’t in the know, you’re not in the running. What’s more, hiring managers are more comfortable taking a punt on a candidate who comes recommended by someone they trust. Granted, having a large network isn’t in itself proof of competence but at the least it demonstrates a candidate is likely to have the ability to work well with others. It’s never too early (or too late) to start growing your network and a tax course is a great place to form relationships with those working in the industry.

The ability to communicate

If tax matters were simple you wouldn’t have had to spend years studying at undergraduate and postgraduate level to master them. Nonetheless, you’ll be in hot demand if you possess the communication skills to explain what you’re planning on doing, or have done, to clients with little interest in the intricacies of the Australian tax system. Nicole Chromy says of her CTA2 Advanced course, “[It] has built my confidence to break down and tackle complex scenarios. Furthermore, it has assisted me in working out how to take these conclusions and explain the outcome in an understandable manner to my clients.”

The capacity to not be a team player

It may sound counterintuitive, but the ability to cope with and, when appropriate provoke, discord is something every graduate should have, at least according to Sir Martin Sorrell, founder and CEO public relations firm WPP. He argues: “If a leader is surrounded by ‘yes’ people they learn nothing. Good people know how to stand their ground and make their case – even when others don’t want to hear what they’re saying.”

As necessary as they are, qualifications aren’t likely to be sufficient to land you that dream job. To have your pick of potential employers, you’ll need to demonstrate you’ve got the kind of attributes (such as those listed above) that others don’t.


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Five essential business skills to get you ahead

How would you design a phone for deaf people? How many piano tuners are there in Melbourne? How heavy is the Empire State Building? And how would you answer these seemingly impossible questions if asked in actual interviews?

The last one is a question worth pondering if you want to demonstrate your own potential to prospective employers – they are undoubtedly looking for more than just academic achievement in your taxation course.

Mastery of your tax training is just the starting point for recruiters looking to hire the best talent. Companies are on the hunt for well-rounded, business-savvy agents capable of looking beyond trade technicalities. Here’s our list of five of the most important qualities employers value in their people.

1. Problem solvers

The questions posed above invite interviewees to demonstrate their creative ability to overcome workplace challenges and problems, and how to adapt to changing circumstances or the unexpected.
Thinking about instances in your life where you have been flexible in solving a problem can be a good starting point when it comes to showing employers you can think on your feet.

2. Effective organisers

Good organisation is key to being able to manage projects, making it a fundamental skill for any new recruit to demonstrate. The ability to break down a large project into separate stages, estimate the work and time required, delegate work and keep projects on track, on time and on budget is a core competency for larger firms especially.

3. Digital savviness

A basic requirement among management recruits is proficiency in a range of core software. Spreadsheets are fundamental to tax and accounting, but understanding shortcuts and being able to manipulate data quickly will help you stand out as a future high-flyer.
Database management and the ability to use data-visualisation tools have also emerged as important skill sets to possess as data becomes more central to every organisation.

4. Commercial smarts

Understanding what makes the wider industry in which you work tick, and where the sector is going, demonstrates your ability to look beyond your tax training and marks you out as one to watch. It shows initiative, appreciation of the bigger picture and engagement with the tax and accounting world beyond just your taxation education.

5. Good communicators

A recent study among 50,000 company recruiters revealed that communication skills were the most important factor in hiring managers. Learning to work effectively by listening carefully and speaking and writing effectively is a skill you can consciously improve.
Mastering your ability to work with clients and colleagues is just as important as mastering your taxation education to ensure you enjoy an effective and long career.

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The benefits of on-the-job networking

Most job-networking advice follows the same script: hit the pavement, connect with industry peers on social media, get yourself known. But what can you do to advance your career without jumping ship.
Here are five tips on how to get all the benefits of networking without leaving your current company.

1. Join company clubs and groups

If you work for a mid-sized or larger firm, it’s likely they have clubs and groups that bring people together from different areas to share knowledge, skills and experience. Do they have meet-ups and team sports outside of work? This can be a good way to have fun while getting to know your colleagues better.

2. Polish your skills

One of the best ways to gain a competitive edge within your own company is to join a group or association. Workshops, seminars and conferences can give you a bird’s-eye view of industry trends and best practices. If the extra skills and knowledge you gain can benefit the company, your employer might even be prepared to pay for the cost of membership.

3. Volunteer

This is another good way to broaden your horizons – and career options – without joining the throng of job hunters. Unpaid or pro-bono work can show that you are sensitive to social causes while also raising your profile with colleagues and managers. If you can get them to join in as well, it can be a good way to bond with them.

4. Nurture relationships

Everyone wants to carve out a great career path, but some forget this can only be achieved by doing the right thing by their colleagues and the company. Getting ahead in your career depends very much on the relationships you build along the way. Polish your listening skills, look for opportunities to make other people’s jobs easier and provide a helping hand whenever possible. It will pay dividends later.

5. Be thankful

A quick ‘thank you’ email takes only a few seconds and shows the recipient you appreciate what they did for you. Other small gestures – such as treating a colleague to lunch or bringing a cake to the office – might seem a little cheesy, but they can go a long way towards making you a valued and well-liked person around the office.

Also keep in mind that hiring and training a new employee is expensive, and most companies are willing to invest heavily in retaining their best staff. If you can give them reason to do so, the rewards can be great.


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If you are a tertiary education student, The Tax Institute can help you progress in your career journey.

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Getting the most out of your Gen Y colleagues

The common perception surrounding today’s graduates is that they are entitled, unmotivated individuals who know nothing of hard work. So how can you best work alongside the bright young things that are your Gen Y colleagues? Here are five quick tips on how to work productively with younger staff.

1. Treat them as people first

Senior staff may be content to quietly toil away at their desks all day, but young workers also want to work in a place where they can connect with others. Before asking whether that spreadsheet is ready first thing Monday morning, ask your Gen Y colleague about his or her weekend. Make it clear that you see them as real people, not just cogs in the corporate machine.

2. Challenge their skills

Young workers have oodles of energy, so don’t be afraid to use it! Despite the stereotype, Gen Yers are eager to learn. The best option is to give them stretch assignments that will challenge their skills, while still making sure they get support and recognition along the way. They are the leaders of tomorrow, so you will also be laying a solid foundation for their future.

3. Acknowledge their achievements

Another popular stereotype is that young people are self-absorbed. But weren’t most of us self-conscious and hungry for approval early in our own careers? Let them know you appreciate their contributions, however insignificant. If they feel valued, they will also feel more positive and motivated.

4. Be flexible

Your Gen Y colleagues grew up in a world that indulges them with an almost endless variety of ways to access information and complete a task. This doesn’t mean letting go of all structure, but you will get better results from your Gen Y workmates if you let their creativity and initiative flourish, just as long as they are clear on what they need to deliver. Give them space to work smarter, not harder, and they will be more productive and satisfied.

5. Be socially responsible

Generation Y is already rising through the ranks as the next wave of leaders and policymakers. They have grown up in an age of rapid social change and pressing environmental concerns, and they want to take a leading role in shaping their future. Jump on social media to discover which issues matter most to them. Make the workplace green – reduce paper usage, conserve energy and put in bike racks for staff who pedal to work.

Remember that Gen Yers really do want to make a contribution and forge a valuable, lasting career. Are you ready to offer the flexibility, support and recognition that will convince them to stay with you?

Give yourself the edge with free Student Membership

If you are a tertiary education student, The Tax Institute can help you progress in your career journey.

Find out about Student Membership.