1. Describe three main types of tax offsets available to individual tax payers? Which are the four refundable tax offsets?

2. What rules apply to the valuation of trading stock if a taxpayer is classified as an SBE?

3. If a taxpayer business chooses not to be assessed under the simplified taxation system (STS) what other methods of trading stock valuation are available to be used?

4. What are the code of conducts which outline the ethical and professional responsibilities as a registered tax agent to adhere to when dealing with tax matter?