CTA 1 Foundation

[Leavingforgood]

Hi - anyone doing the CTA1 Foundation course with the Tax Institute please feel free to share your experience, queries, advice on work-study-life balance etc.

[DXB2OZ]

LeavingforGood, can I ask if you are working at the moment, as that does have an impact? Also, did you sign up to attend the lectures or are you going just for the online webinars?

 

I did the CTA1 course overseas and CTA2 in Oz, I know of at least one forum member doing CTA1 at the moment.

 

My one piece of advice is to keep the momentum going. If you have a few days off, that is fine, but don't let things slide too much. My other piece of advice is don't try to remember everything. This is open book exams, much like practice - you need to understand and be able to refer, but you are not expected to keep it all in your head.

 

Their admin can be beyond shocking, but the course itself is very good.

[Pell]

Yep, doing it at the moment, and working (long hours, I may add) - it seems that my brain doesn't work as it used to do when I was younger, surprise, surprise....

@DXB2OZ - totally agree on their admin, they have no clue. The website and the lecturer say the assessments have to be completed before the lectures take place - and  they put the assignment on the website on day of the lecture. This happened last week and so I asked her, how is someone who works full time supposed to complete the assignment? The course convener said that the all assignments need to be completed before the day of the exam, which does not gel with what the lecturer and the website says. Anyway, there's only one way to tackle it: head on, and whenever possible every day.

 

[EmNew]

 

Also enrolled and somewhat frustrated with communication and admin side of the course. 

 

Finding it really hard to balance work life and being a part time student again.

 

I can only really study from around 9pm onwards, after trying to fit in supper and some form of exercise once I get back from work. Really trying to put in an hour every week night but get those nights where the brain is at capacity and no info is retained. The other issue is trying to unlearn +20 years of RSA tax and sections of tax Acts whilst going through the material. I also find that sometimes when the material seems too familiar, I don't pay enough attention to it on first go through and miss some subtle difference to RSA tax and therefore miss the essence of the Aus version.

 

My plan is to try and do 5 hours between Mon-Fri in the evenings, and then a catch up of another 5 hours split between Sat & Sun, if the suggested 10 hours per week is actually sufficient.

I had hoped to do general reading on the train of sections as revision to maximise the daily commute time , but gave that up after a few attempts as I realised I was too distracted by the other commuters.

 

 

 

[Leavingforgood]

Very disappointed with the admin too - the first webinar session covered Module 3 and 4 within a week of starting the course!

 

@DXB2OZ thanks for the advice - do you recommend knowing specifics on legal cases?

 

[Pell]

@Leavingforgood @DXB2OZ @EmNew - ladies, thanks for the feedback! Before I ask the "all-knowing" (insert eyeroll here) course convener, I thought I'd ask you. Where can one get extra questions and past papers? They only provide one past paper in the study material, and I've done all the assessments and revision assessments.... the only way to cream this, at least for me, is to do as many questions as possible. Yay, this brings back fond memories of when I was doing my Board exam and I had questions galore, now I don't have enough....

 

[DXB2OZ]

Leavingforgood, legal case specifics were not required when I did the course, but it may be worth double checking as a few things seem to have changed. Am not sure who you can ask, as I have some doubts about this lots ability to organize the proverbial p**** up in a brewery. But this is designed for you to be able to practice, not argue a case in court.

 

Pell, we were not successful in obtaining additional past papers - I get the idea it is a closely guarded secret as questions get re-used year on year.

 

Listen closely to webinars and lectures, make sure you know your "limbs" and where to refer to in your notes for other information.

 

I had summary notes, which I used for many of the details, such as the long list of what you can and can't claim under what circumstance. The exam format didn't feel unfamiliar or confusing.

 

Good luck!!

 

 

[Leavingforgood]

Pity about the past papers, I feel I need a few more activities to drill the principles into my head, especially those relating to the buts and exceptions to exceptions.

[Pell]

@Leavingforgood & @EmNew - ladies, I don't know about you, but I've struggled with module 4 activities 16 and 17... Have you found any examples of notional interest calculations? Or am I being dense and overcomplicating things...?

[Leavingforgood]

@Pell- I only started Module 4 yesterday, so not yet at that topic. Did you want more practice examples or is the concept difficult to understand?

 

Are you reading all the rulings - I feel like I am over-reading things which is slowing my progress :(. I know its only for my benefit if I do read, but time is so limited.

[Pell]

@Leavingforgood practice examples make perfect for me, especially now that I haven't studies for such a long time. I don't read all the rulings, I would never be done that way. I try to download them and skim through, paying special attention to examples. Our lecturer said that we should read the required reading and if we have time the further reading. Some are interesting reading, but the itaa sections are killers, some are so convoluted that I feel completely idiotic. 

[EmNew]

@Pell - still working through module 4 so not at notional interest section yet. Getting a little worried about my slow progress, but doing the best I can at the moment. 

 

Still reeling from a bad experience on first attempt on module 3's quiz.........that ^!%#$^% low income tax offset .........it just won't stick in my head as a tax calc step. My course nemesis.

Also didn't help that all pages fell out of ring-binder when paging to get to tax tables....

 

[Pell]

@EmNew, don't feel alone, I screwed up on both quiz 3 questions because of the frigging low income tax offset. The upside is I'll never forget it now, and probably neither will you. ? Quiz 4 is much easier, I approached it with a lot of anxiety and in the end it went very well. Had a look at the exam paper , half the marks are from the first 4 modules. Tomorrow I will interrogate the lecturer as to what we can expecrt, ie more than half the paper from modules 1-4, or do they change it. 

[EmNew]

Certainly gaining a growing appreciation for good old Huxman and Haupt's Notes on Income Tax annual publication........They really knew how to break down every aspect into practical examples and once you had worked through them, you had no doubts.

 

Just wish there were more examples and activities to test out practical application of course material

[Donovan83]

1 hour ago, EmNew said:

Certainly gaining a growing appreciation for good old Huxman and Haupt's Notes on Income Tax annual publication........They really knew how to break down every aspect into practical examples and once you had worked through them, you had no doubts.

 

Just wish there were more examples and activities to test out practical application of course material

Now there's a book I haven't thought of in ages! 

 

H&H was my tax friend in 3rd year and honours. I wish there was an aussie equivalent, that book was excellent! 

[Leavingforgood]

Hahahahaha - Huxman and Haupt. Huxman was my lecturer eons ago - always said about his tests/exams "I have never failed anyone...................they fail themselves" - wise man.

 

@Pell @EmNew - if there is a TR related to a topic, have a look at the bottom as the rulings sometimes do have examples. Have you done module 1 - thought it was quite useful to be able to do the relevant calculations/ activities in module 3.

 

 

[Pell]

@EmNew & @Leavingforgood Hello ladies,

How is your trek into the Aussie tax going? I found the Structures module boring, after the fretful first 4 modules... Have not made any headway on getting additional questions from the course convenor who pointed me to the revision quizzes (duh! been there done that). When I was doing my CA, I had so many questions I didn't know what to do with, and now.... yes, I know, I should stop comparing. The lecture two weeks ago was alright, mostly, but it's frustrating because the lecturer doesn't cover everything, due to lack of time (and a very annoying person who keeps asking question after question, after question and just won't shut up, which takes precious time from the lecture). Then 9pm arrives and we've still got a fair bit to cover. How did you find your webinars? And did you manage to get additional questions? Maybe if we bombard the course convenor with emails, she'll point us in the right direction. 

[EmNew]

@Pell - tax taken a back seat for now - it's budget prep time at work and that's all I eat/breathe at the moment. Presentation to Board is tomorrow so then it's out the way, and my boss approved leave for Friday / Tuesday so that I could have an extra long long weekend to catch up on studies. I did finish structures and it was a lot better / easier to get to grips with than the earlier modules, so yes, boring in comparison 

I still haven't watched the download of the first webinar lecture ...............

No extra questions , but then I haven't asked yet. When I get my ducks in a row this coming weekend, I will shoot off an email to the convenor and add to the requests for more.

Edited April 19, 2016 by EmNew

[Leavingforgood]

@Pell@EmNew - just finished the webinar this evening and did ask the convenor (Liisa) and she said that each module has 20 questions (10 in the quiz plus 10 activities), basically implying we have enough to practice on. There will be a practice exam coming our way sometime in May, in addition to the sample one in the pack.

 

I've only done half of Module 4, couldn't stomach all the technicalities and started Structures, thought it was a good break from rules rules and rules. I feel though that I am not absorbing the principles, some of the people on the webinar were flying with questions and answers, whilst I had to page through the file to find the answer (there were pop quizzes in the webinar),  Good luck with the studying!

EmNew - not sure if you will get anything out of the first webinar...really summarized what is in the pack. Second one is better (if you didn't attend)

[LCJKZ]

Hi Guys

 

Is the CTA1 Foundation program from The Tax Institute the only (or best) way to get started on getting your tax converted? I have been searching online (somewhat unsuccessfully) and asking some universities about trying to convert my MCom taxation. The universities don't seem to respond. 

 

I am so confused about what to register for? Graduate diploma of applied tax law? Chartered tax advisor program, tax agent program? What have you all registered for?

 

Liz

 

Edited May 16, 2016 by LCJKZ

[Pell]

The CTA1 Foundations (through the tax institute) gives you a well-rounded view of the Australian tax system. It is, among other things, designed for foreign professionals just like us.

It is a bit pricey, but I find it useful. It was recommended to me by other people who had done it.

[LCJKZ]

Thank you @Pell

 

Are you just doing the CTA1 Foundations? Or are you going to do the other subjects as well?

 

 

 

[Pell]

Just the CTA1, for now. Depending on how it goes, I might do the CTA2 as well, but I will cross that bridge when I come to it. 

[Cujo]

Anyone want some training examples send me a pm with your email and I will email you a document. Take into account its from last year and tax law changes every year.

[Leavingforgood]

Hi there @Pell @EmNew- How are you both? I am in trouble, haven't touched my notes in almost three weeks - workload :(. I am so tempted to ask for a deferral, or do you think there is still time to catch up? There are four modules I still haven't touched. Oh dear......