Becoming a better client adviser through education

Adam Rutherford, Accountant CMS Private Advisory and dux graduate, on how study made him a better adviser to his clients.

Adam started his professional career at CMS Private Advisory in 2013 where he works as an accountant. 

“I work in the business services division assisting small-medium sized businesses and individuals with a range of taxation matters among other things,” he says.

He says he wanted to learn about the strategies and concessions that may be available to a client when dealing with transactions that have tax implications.

Undertaking education not only builds knowledge and skills but also builds confidence that can translate to success on the job. One of the key challenges for the profession is building a strong pipeline of future advisory capability amidst technology advances and changing client expectations driving a shift in the role of the tax professional. 

After completing CTA2A and CTA2B Advanced, Adam says the questions raised throughout the programs helped him gain a better understanding of the application of tax legislation in real-world scenarios”.  Completing education subjects will assist you with building your tax capability as you progress in your career in tax – and you should invest in your career and yourself whether you’re a new entrant to the profession or an experienced tax practitioner.

“I have developed a greater understanding of the small business CGT concessions, particularly with the rules and issues that can arise when a trust or company makes a capital gain that is eligible for the concessions,” he explains.
       
“The subjects covered a range of topics so I was able to gain an understanding in areas that I have not previously had a great deal of experience with, such as the taxation and regulation of superannuation funds and the taxation of international transactions.

“Both subjects have a focus on the practical application of the taxation laws which I have found to be really useful,” he adds.

What’s next for Adam?

“I have started studying Tax for Trusts in Estate Planning and Wealth Management with The Tax Institute as part of the Graduate Diploma of Applied Tax Law,” he says. The Tax Institute’s education programs have been developed to provide specific professional outcomes. Whether you want to complete a recognised postgraduate qualification, become a Chartered Tax Adviser (CTA) or complete an education program approved by the Tax Practitioners Board (TPB) you can do so.

“At some stage in the near future, I would also like to study the CTA3 Advisory program the aim of becoming a CTA.”


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