Postgraduate Diploma in Tax Strategy and Management

Purpose

SA Tax Legislation has undergone fundamental changes over the past decade. This qualification will bring all parties involved in the field of taxation up to date with the latest developments. Tax consultants will be empowered to optimally position themselves and their clients from a strategic tax perspective, now, and in the future.

Rationale

Most tax consultants do not keep their taxation knowledge up to date after completion of their formal higher education studies. This programme will bridge the gap between static, outdated knowledge and modern, relevant and up-to-date application of tax strategy and management. Additionally, this diploma will offer candidates the opportunity to select areas of taxation for specialization and serve as a vehicle for continuing professional development.

Comprehensive background knowledge of tax and accounting and the ability to comprehend basic financial calculations in this regard.

Recognition of Prior Learning

Relevant work experience and learning exposure in the taxation field (supported by a portfolio) will be assessed via the standard UFS RPL as well as Free State Higher Education Consortium procedures.

Access to the Qualification

Any B Com/B Acc degree or equivalent qualification that included taxation as a major subject.

OR

Relevant work experience in the taxation field (supported by a portfolio) that can be recognized in terms of prior learning as equivalent to the first criterion.

All submissions are subject to a selection process.

NQF Level 7.

The minimum duration of the qualification is twelve (12) months and it consists of 124 credits.

The following areas of learning are included

• Basic corporate tax.
• Advanced corporate tax.
• Estate planning.
• Tax management for farmers.
• Calculating individual tax.
• Investments and their tax implications.
• Salary structuring in tax perspective.
• Capital gains tax.
• Tax administration.
• Value added tax (VAT).

All ten modules in this qualification are deemed to be core learning. The tax laws in South Africa are structured in such a way that it is almost impossible to categorise some as more or less important. The various "specialization areas" in the field of tax are interlinked and have an influence on each other.

Learners who have completed the Postgraduate Diploma in Tax Strategy and Management can

1. Effectively apply the basic principles of Capital Gains Tax and calculate it as well.
2. Effectively deal with advanced corporate tax and all its calculations.
3. Effectively give advice on the basic intermediate corporate taxation needs of the average company or close corporation.
4. Effectively assist individuals to calculate and plan for all the tax consequences upon them if they pass away.
5. Effectively perform tax planning and calculate the tax liability of an individual taxpayer.
6. Effectively assist clients to select appropriate investments with regard to their tax implications.
7. Effectively advice employers on effective salary package restructuring for optimal tax benefits.
8. Effectively assist individuals functioning in the tax industry in terms of tax payers' rights, rights and obligations of SARS, and general tax administration.
9. Effectively perform tax planning and calculate the tax liabilities for farmers.
10. Effectively advice the business sector on the nuts and bolts of VAT.

Associated Assessment Criteria for Exit Level Outcome 1

• Minimise the CGT liability in local and international tax planning.
• Identify and calculate the CGT effect of a number of economic actions.
• Integrate CGT with income tax, and other SA taxes.

Associated Assessment Criteria for Exit Level Outcome 2

• Calculate STC on dividends (advanced).
• Identity situations where the corporate rules may be applied and be able to apply these rules.
• Identify transfer pricing and thin capitalization situations and to avoid the adverse effect of these anti-avoidance rules.
• Perform any corporate tax calculation.
• Perform international tax planning.

Associated Assessment Criteria for Exit Level Outcome 3

• Calculate the tax liability of a company or close corporation.
• Calculate the STC liability of a company or close corporation.
• Minimise the tax liability of a company/cc through tax planning.
• Integrate tax types in corporate tax planning.

Associated Assessment Criteria for Exit Level Outcome 4

• Calculate donation tax and estate duty liabilities.
• Competently perform estate planning and minimise all potential tax liabilities.
• Use a trust as tool in estate planning.
• Integrate estate duty with other taxes such as normal tax, Capital Gains Tax etc.

Associated Assessment Criteria for Exit Level Outcome 5

• Calculate the tax liability of a business person (complete the IT12BU).
• Advise an individual taxpayer on how to pay the minimum taxation (excluding salary restructuring).

Associated Assessment Criteria for Exit Level Outcome 6

• Optimise tax efficiency in local and foreign investment planning.
• Optimise tax efficiency in retirement planning.
• Integrate tax on investments with all SA taxes.

Associated Assessment Criteria for Exit Level Outcome 7

• Calculate the employees' tax liability.
• Calculate the tax value and employee's tax implications of fringe benefits.
• Make proper use of exemptions available to employees.
• Structure reimbursive allowances in a tax efficient way.
• Avoid the adverse effect of s 23(m) on the employee.
• Avoid the adverse effect of legislation on labour brokers and personal service companies or trusts.
• Structure salary packages without creating pitfalls (by understanding court cases on salary structuring schemes).
• Calculate the employees' tax on the salary and benefits of foreign resident.

Associated Assessment Criteria for Exit Level Outcome 8

• Know the types of taxes in SA, apply court decisions in taxation planning, utilise interpretation notes critically in tax planning.
• Follow best practice when escalating disputes to SARS.
• Administer their own and clients' tax affairs in line with best practice.
• Advise clients on their constitutional rights and obligations in terms of tax planning and administration.
• Choose the correct legal entity when embarking on an entrepreneurial venture.
• Perform tax planning to avoid adverse effects of anti-avoidance legislation.

Associated Assessment Criteria for Exit Level Outcome 9

• Calculate the tax liability of a farmer.
• Advise a farmer on how to minimise his or her tax liability.
• Integrate normal taxation with other taxes applicable to farmers (VAT, Capital Gains Tax etc).

Associated Assessment Criteria for Exit Level Outcome 10

• Complete their VAT returns correctly.
• Calculate their VAT liability.
• Plan the business' transactions in a VAT efficient way.

Integrated Assessment

The Diploma is subdivided into ten modules, participants will be required to submit a practical assignment and write a formal test for each module. An integrated case study on all modules will conclude the qualification.