Registered AITI Tax Qualification Info and Questions

lisagirl1

TheScriptFan wrote: »

• Restriction of relief for high earners
• Double tax relief
• learn contents of stmt of practice 1/2/3
• Revenue concess. for people sent here on ST
• Taxation of Share option for mobile workers
• Subsistence exp
• 15% of paper will be CAT & SD
• Revise CAT & SD for trusts/retirement relief & Marital breakdown
• Pensions
• Look at tax briefings up to last June
• Domicile Levy
• Income levy has made PRSI and HC more relevant, don't ignore.
• Stuff in Finance act: Abolition of remittance basis for Irish Dom. S825B extended to EU, Higher earners rest amended; S811 amended, Domicile levy
• Trusts - Domestic & offshore
• S806(10) what is a bona fide commerical trans
• Convertible Securities
• Earnouts (ascertainable V unascertainable. Read Marren V Ingles
• Options - CGT
• What happens to your pension if you lose your job

Stuff she defo thinks is on paper:

1. Residence
2. Trusts
3. Shares
4. Pensions

Jesus Script thats some daunting list!! anyone have a similar list for business taxes re changes in FA 10 or topical material? any help much appreciated

ramacc

lisagirl1 wrote: »

Jesus Script thats some daunting list!! anyone have a similar list for business taxes re changes in FA 10 or topical material? any help much appreciated

Hi folks hows the studying going with everyone

Legend100

Only finished up from work yesterday so only hitting the books hard from today

Hopefully have all the manuals done by sunday and then 2 weeks of papers id say:)

smurifit

just gettin into the exam papers these days...some of them are brutal hard! dont know how im going to pass them all!! any major areas we should be lookin at for business taxes? anything mentioned at the revision lectures?

heffelump

Only starting study leave today and the Personal tax seems impossible. Any advice on the best way to approach it? :eek::eek::eek:

dudyi

can you claim an input credit for advaced payment..

eg. advanced payment to a supplier for a reduced rate service not yet completed, payment made 100,000.

how do u treat that.. please help?

TheScriptFan

heffelump wrote: »

Only starting study leave today and the Personal tax seems impossible. Any advice on the best way to approach it? :eek::eek::eek:

I am just giong over the manuals, highlighted all the relevant sections in legis. & doing questions.
It's difficult as the results of the CA on a whole were so bad who knows where they'll go with this! Good luck!

jarvis_c82

Hi,

I'm a repeat student and I've only got Personal and Indirect Taxes to do. What was said at the revision recently for Indirect Taxes.

Cheers and good luck to everyone.

Legend100

Caselaw seems to come up in VAT every year so i did a short summary of the cases in the manual if anyone wants it

ramacc

Hi All - well going topical should be supply of cross broder services and travel agent margin scheme.

In relation to Prof tax advice and ethics all the past paper solutions for the case study (first q) do not have any legislative reference can you get away with this for ethics?

jarvis_c82

I have to agree that the new topics from the Finance Act 2010 will be included, cross - border services and travel agents. I also think something on VRT and VAT aswell.

lisagirl1

ramacc wrote: »

Hi All - well going topical should be supply of cross broder services and travel agent margin scheme.

In relation to Prof tax advice and ethics all the past paper solutions for the case study (first q) do not have any legislative reference can you get away with this for ethics?

The cork lecturer said that they are not looking for detailed legislative references in that course cos they examine them else where. its more a case of putting down the answer in laymans terms for clients. i suppose its no harm to mention d odd section or two but dont get hung up on it. v important to cover all the taxes too, even if say VAT doesnt apply, write that down!

smurifit

hopefully those come up alright...lot to do in next week and a half!

TheScriptFan

Legend100 wrote: »

Caselaw seems to come up in VAT every year so i did a short summary of the cases in the manual if anyone wants it

Thanks a million for that, really appreciate you sharing....you are indeed a legend

Legend100

Can anyone tell me in the solution to Q5 of summer 2010 on the question about high earners, where they get the figure at the end of the question of €671,000 to check the 20% effective rate charged.

I've tried a few combinations of the income and can't figure out how it's gotten

TheScriptFan

Legend100 wrote: »

Can anyone tell me in the solution to Q5 of summer 2010 on the question about high earners, where they get the figure at the end of the question of €671,000 to check the 20% effective rate charged.

I've tried a few combinations of the income and can't figure out how it's gotten

Hi there - it is their combined total income before any relief: 456,500 for Michael & 214,500 for Mary : 671,000

SquishyLady

Hey All
I am only finishing up tomorrow.....I am doing the exams myself with no support from work & as a result I have shed load to do in the next week.
Did any lecturers from around the country mention anything that they would bet their life savings would come up??
Desperately need help!!!!
Thanks in advance!

whatyathink

Legend100 wrote: »

Caselaw seems to come up in VAT every year so i did a short summary of the cases in the manual if anyone wants it

Thanks a million for this, could do with all the help i can get!
Study is not going well at all, decided just to do exam papers from tomorrow on, hopefully some of the questions will be repeated in some format!

heffelump

I now what you mean Whatyathink I'm finding it so hard and have to admit I feel like giving up. It's so tough to try get through it all. I know a man that did them two years ago though and he only studied the past papers and failed. Next time round he only studied the manual and failed again. Eventually on his 4th go he passed. Hes a very intelligent man so I have to say it's really playing on my mind and I'm finding it so hard to stay positive. not trying to dishearten any1 else. Guess I just wonder am I the
only one that finds these so daunting?!?

TheScriptFan

whatyathink wrote: »

Thanks a million for this, could do with all the help i can get!
Study is not going well at all, decided just to do exam papers from tomorrow on, hopefully some of the questions will be repeated in some format!

We still have 10 full days to study so alot can be covered in that time. I think doing exam questions is as good a plan as any. They do seem to repeat quite alot of questions, and it's good to get familiar with those big questions and pick out what they are asking. I get bored half way through the question...my main problem!!

Legend100

my problem is laziness, i try an exam Q and after 10 mins i just end up checking the solution

what im trying to do is do an exam question and if i dont know something from the solution i go back and cover the chapter from the manual

.....i seem to be going back to the business manual alot!

I think i must have read chapter 11 about ten times at this stage!!

SquishyLady

I know the feeling legend100!
I am going back over stuff & I feel I haven't looked at this stuff before........I am so fed up at this stage & the will to continue is fading quicker than it should be!!!

heffelump

How many years of past papers are ye guys doing? Wondering is there any point going back to 2007 or would 08, 09 and 10 be enough to cover. Starting to panic already:(:(

I'm asking in particular about business tax which I'm definitely finding the hardest. At this stage I'm wondering should I leave it and concentrate on the other three and do bt in the repeats.

Any suggestions?

Legend100

I'm just trying to do as many as i can but it's slow enough, so much has changed even since 2008 that it does get a bit confusing going back further than that

honestly can see myself passing the personal tax....there is just so much they can ask, the past papers seem to have loads with material from the earlier parts

TheScriptFan

Yeah it is definitely so confusing going back over past years. I'm just doing as many as I can because its good to get the practice of the scenarios I think, to pick out what they are looking for. At least this time two weeks it'll all be over!! :eek:

beeftotheheels

Concentrate on 2009 and 2010 business tax papers. Prior to that they were significantly different.

Coffee Addict

Hi
Sorry if this is a stupid question, but what is the difference between ex-works & CIF?
Thanks

wgk

The thread has gone quiet, starting to enter serious worry stage now!:eek:

6ix

First of all - best of luck to everyone doing the exams!

I'm not doing them, but my girlfriend is and she's at the extreme worry stage. She's asked me to ask a question on here, so if anyone can answer it, she'd be grateful:

Were any pointers given at the revision lectures for the Part3 PATAE exam as to what might be on the paper?

Thanks!

heffelump

Just wondering if I knew my business past papers fairly well would that be enough to scrape a pass do ye think? I'm dizzy from looking at the manual and keep getting bogged down on the little details!