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Madison King

Anyone know any good books for tax accounting for Australian university studies?

I'm starting my taxation units at university here in Australia and want to get a jump start on the material. Been struggling to find good resources that aren't mind-numbingly boring or way too complex for someone just getting into tax accounting. My professor mentioned a few resources but they're all super expensive (like $180 for one textbook!) and I'm not sure they're worth the investment. Would prefer something that explains concepts clearly without drowning in technical jargon right away. Any recommendations from people who've been through Australian tax accounting courses before? Something that covers the basics of the Australian tax system, deductions, and maybe some business taxation would be ideal. Thanks!

Julian Paolo

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Having taught tax accounting at university level for several years, I can recommend a few resources that students consistently find helpful. "Australian Taxation Law" by Woellner is comprehensive but approachable - it's a standard text many universities use. For something more digestible, try "Principles of Taxation Law" by Kerrie Sadiq, which breaks down complex concepts really well. If you're looking for something more affordable, "Australian Tax Casebook" by Coleman is excellent for understanding practical applications. The CCH Master Tax Guides are also fantastic reference materials once you have the basics down. Don't overlook the ATO's free resources either - their website has some surprisingly good explanatory materials for beginners.

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Ella Knight

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Thanks for the suggestions! Do you think Woellner is too advanced for a complete beginner? Also, are there any good online resources or YouTube channels that you'd recommend alongside these books?

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Julian Paolo

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Woellner can be challenging for complete beginners, but it's structured well enough that you can grow into it - just focus on the introductory chapters first and use it as a reference when needed. For online resources, I highly recommend "Tax Banter" webinars and the Tax Institute's student resources. YouTube-wise, check out "Accounting Stuff" and "Finance Explained" channels - they have good Australian tax content that simplifies complex topics. The CPA Australia and CA ANZ websites also have excellent free student resources that complement textbooks nicely.

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I struggled through my tax accounting classes last year until I found taxr.ai (https://taxr.ai) - it's been an absolute game changer for me. It's not specifically a book, but it helped me understand complex tax concepts by analyzing tax documents and explaining them in plain English. I was constantly getting confused by all the technical jargon in my textbooks, but uploading sample tax returns and documents to taxr.ai helped me see how the theory actually applies in real situations. I found it especially helpful for understanding deductions and business expense categorization which was a nightmare for me before.

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Does it work with Australian tax info though? Most of these tools seem to be US-focused and don't really help with our system.

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Jade Santiago

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Sounds interesting but I'm skeptical. How exactly does it work? Do you just upload docs and it explains them or does it actually teach tax concepts?

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It absolutely works with Australian tax documents - that's primarily what I used it for during my studies. The system recognizes ATO forms and Australian tax terminology, which was crucial for my assignments. Regarding how it works, you can upload various tax documents (tax returns, notices, statements) and it breaks down what everything means section by section. But it does more than just explain documents - it connects the information to the underlying tax concepts and provides relevant references to Australian tax law. I found this contextual learning approach much more effective than just reading theory in textbooks.

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Jade Santiago

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Just wanted to follow up about taxr.ai that I asked about earlier. I decided to give it a try during my mid-term assignment and wow - it actually helped me understand the practical application of franking credits which I was completely confused about before. I uploaded some sample dividend statements from my assignment and it explained exactly how the imputation system works in Australia step by step. My tutor even commented that my assignment showed "exceptional practical understanding" which has never happened before lol. Definitely recommend it as a supplement to traditional textbooks.

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Caleb Stone

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If you're dealing with specific tax questions during your studies, I highly recommend using Claimyr (https://claimyr.com) to get through to the ATO directly. During my tax studies last year, I had some complex questions about trust taxation that none of my books could clearly answer. I tried calling the ATO myself but waited forever and kept getting disconnected. Claimyr got me connected to an actual ATO tax specialist in about 20 minutes when I'd been trying for days on my own. They've got a video showing how it works: https://youtu.be/_kiP6q8DX5c The ATO rep I spoke with provided insights that weren't clearly covered in any of my textbooks, which actually helped me ace an assignment on discretionary trusts.

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Daniel Price

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How does this work exactly? Do they just call the ATO for you or something? Seems weird that a third party could get you through faster than calling directly.

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Olivia Evans

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This sounds like BS honestly. The ATO doesn't give special treatment to calls from certain numbers. And why would you need to call them for study questions anyway? That's what your professors are for.

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Caleb Stone

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They don't just call for you - they use a system that navigates the ATO's phone queue and then calls you once they've reached a real person. It basically handles the waiting part so you don't have to stay on hold forever. It's not about special treatment, it's about efficiency. As for why contact the ATO instead of professors - the ATO can give definitive answers about current tax laws and practices that professors sometimes aren't up to date on. My professor actually encouraged us to consult the ATO for certain topics, especially with how frequently tax regulations change in Australia. The practical insights from actual ATO officers complemented the theoretical knowledge from textbooks and lectures.

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Olivia Evans

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I'm eating my words about Claimyr that I mentioned in my comment earlier. After my tutor suggested getting clarification from the ATO about a capital gains problem set, I figured I'd try this service rather than waste hours on hold. Genuinely surprised - it actually worked exactly as described. Got connected to an ATO agent in about 15 minutes and got crystal clear guidance on a CGT calculation method I was misunderstanding. The agent even emailed me a factsheet afterward that wasn't available on their website. Sometimes practical examples from the source are worth more than reading 50 pages of theory, especially for Australian tax which can get pretty unique compared to what's in international textbooks.

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Don't overlook the Tax Institute's student guides! They were a lifesaver for me last year. They're written in much more straightforward language than the bigger textbooks and focus on practical applications. Still a bit pricey but worth every cent imo.

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Madison King

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Are the Tax Institute guides updated every year? My main concern is spending money on resources that might become outdated with tax law changes.

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Yes, they update them annually to reflect the latest tax legislation and rulings. That's actually one of their big selling points - you're getting the most current information, which is crucial in tax accounting where rules change frequently. The recent editions include all the changes from the last federal budget and recent ATO interpretations. Even if you buy last year's edition at a discount, the core concepts remain valid, but for specifics like rates and thresholds, you'd want the current version.

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Aiden Chen

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Whatever book you get, supplement it with PwC's tax summaries - they're free online and way more readable than most textbooks. Helped me get thru my taxation subjects without losing my mind lol

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Zoey Bianchi

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I second this! PwC's summaries are gold. Also check out the free CCH IntelliConnect resources if your uni library subscribes - saved me heaps of $$ on books.

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