TAX Elective FAE 2012

Rob01

Hi all

I wanted to start a new thread for this as I'm repeating it for the second time this year and can't afford another "not competent"/fail .

I done the revision course last year and felt it was terrible, just reading from the slides, so I wasn't paying more money for it again this year.

I know the revision course had a class on the 26th February and the Elective had one on the 4th March. I would be grateful if anyone could upload the notes for either of these classes.

Hopefully this thread can help people get through the final hurdle come September 2012.

Regards

Rob

noveltea

I am registered for the revision course, but I was not able to make it. The notes for the last class up on the student website was just the exam paper from September.

cookieincork

Hi all,
I am in the same position as Rob above. I raelly want to attend the Cork lectures,but i cant get access to the notes..Has anyone had any luck with getting a link??Thanks so much

aca101

Could anyone upload the solutions for the case studies in the book, I think they're up under Course Materials. I'm a repeat student, so I don't have access to these unfortunately. Would really appreciate if someone could post some of them up here.

mooneygm

Hopefully these are some of the notes you were looking for

aca101

I was looking for the solutions to the case studies in the book, thanks anyway though...no harm having the solutions for the challenging questions though as they're fairly useful too.

mooneygm

Sorry about that - think that's them attached now. Also included some other docs posted to course materials.

aca101

mooneygm wrote: »

Sorry about that - think that's them attached now. Also included some other docs posted to course materials.

That's great....thanks a mil!

Rob01

Thanks very much for that!

Unfortunately if you don't pay the institute for the revision course you don't get any of the updated notes so that is a great help to me.

M2009

Thanks mooneygm!!! Really appreciate you uploading that info!! I am currently in Oz and travelling home a week before my exam :eek: so I need all the help I can get

Cliona2012

Anyonw know where to get the tax case studies?
Can only see case study 1,2 and 5 on the site and the solutions.
Where are the remaining questions??:(

Cliona2012

Anyone?

Rob01

Cliona2012 wrote: »

Anyone?

Which ones are you looking for?

Cliona2012

I have case study 1, 2, and 5, and all of the solutions.
So I need all the remaining questions.
Do you have a link or anything?
I cant for the life of me see them on that bloody Student Centre!!!!

Rob01

Cliona2012 wrote: »

I have case study 1, 2, and 5, and all of the solutions.
So I need all the remaining questions.
Do you have a link or anything?
I cant for the life of me see them on that bloody Student Centre!!!!

No sorry, as I'm a repeat student not enrolled in the revision course I have no access to any new case studies/updated solutions so I'm hoping for some help from people on here!

Just had a look there and I only have the cases 1 & 2 for this year, which was sent to me from someone doing the course for the first time this year. They sent me everything they had to date though and no other cases were included in that? Maybe they were handouts in class? I don't really know, sorry!

Cliona2012

OK, thanks for checking!

WeeDeee

The case studies are in the Business Decisions and Transactions Taxes Book from page 214 onwards

Rob01

Is the mock exam and solutions available anywhere? Or could someone put up a link?

WeeDeee

http://students.charteredaccountants.ie/Student-Information/Courses/Course-Timetables/

Elle2012

Hi Guys,

Im repeating the tax elective as well in September..

I know not many extra cases were put up last year, but just wondering were any new cases put up this year?

I got a new elective book - not much extra in it.. but can list new parts if anyone needs it..

luco123

Elle2012 wrote: »

Hi Guys,

Im repeating the tax elective as well in September..

I know not many extra cases were put up last year, but just wondering were any new cases put up this year?

I got a new elective book - not much extra in it.. but can list new parts if anyone needs it..

where did u get the book? Im repeating as well. i would really appreciate if you could list the new elements.

Cliona2012

WeeDeee wrote: »

The case studies are in the Business Decisions and Transactions Taxes Book from page 214 onwards

Thank you

Elle2012

I bought the book online (library section on the icai website allows you to buy it)

Main differences are:

1. Add on to Chapter 2 - Ireland's Incentives as a location of choice for coporates: looks at relief for specified intangible assets and relief for expenditure on R&D

2. Chapter 3 - looks more at the 2010 code as oppposed to the 2002 code and the key aspects of the code

They seem to be the main changes so far.. havnt looked at VAT section yet but will let you if i come across many changes..

Ive looked at the cases at the back of the book alright but I was wondering did the institute put up any extra cases? I know last year a few extra cases were put up that were more the standard of whats in the exam than the cases at the back of the book (some of those are kinda short).. just wondering were any extra posted this year? cause the audit ppl seem to have loads!

Thanks

aca101

I'm just wondering are there any other cases apart from those in the tax elective book and in the sample and past papers?

I've come across a few cases in notes I've gotten from a friend; a few like Bosco Parrot, Rolls Ltd, Buy Low Sell High. I'm just wondering are there many more like these out there as they're probably a bit more useful than the cases from the book given they're laid out in the same way as the Core cases (showing primary indicators and what's needed for competency).

luco123

Have the 2010 & 2011 tax elective exam papers & solutions been updated for 2012 rates?

ucd.1985

aca101 wrote: »

I'm just wondering are there any other cases apart from those in the tax elective book and in the sample and past papers?

I've come across a few cases in notes I've gotten from a friend; a few like Bosco Parrot, Rolls Ltd, Buy Low Sell High. I'm just wondering are there many more like these out there as they're probably a bit more useful than the cases from the book given they're laid out in the same way as the Core cases (showing primary indicators and what's needed for competency).

Any chance you could post these up?

Thanks

Elle2012

Just wondering did you come across any more cases?

while there is loads in the elective as it is - could really do with some more cases to practice..

also are people using the legisaltion much for revision?

Thanks

WeeDeee

I've not used the legislation book at all, find the text book very useful though

luco123

Please guys im looking for the roi updated papers and solutions..... im repeating... can someone please help me!!

mikey767

Hey guys, just wondering if we actually need the two books of legislation that the institute sent or is the text book okay?

aca101

Do we need to quote legislative references in our answers? I wasn't aware that we had to, but I was doing a few of the cases from the book and they specifically ask you to quote legislation.

Elle2012

If I know the legislative reference ill def put it down but if I dont and I do have time at the end of the exam will probably look it up alright..

just getting a bit worried about tax cases at the mo, im repeating but would have thought more cases might have been uploaded this year?

EveT

hi, does anyone know if there are sample tax elective papers?

Rob01

EveT wrote: »

hi, does anyone know if there are sample tax elective papers?

There is only 1 that I am aware of. The 3 questions in the paper are
- Sim 1 - Gerard O'Connor
- Sim 2 - Ryan McGrath
- Sim 3 - Venway Ltd

Other sample Q's i have are
- Bosco Parrot
- Buy low sell high
- Rolls Ltd

Unfortunately I only have these as hard copies

EveT

found them!

aca101

Anyone else find they're at a bit of a loose end with the elective now? I've done the past papers, mocks and the sample paper...dunno what else I can do now really. Bit of a disaster they never gave us any cases. Don't really want to go back to revising from the book at this stage in the game.

WeeDeee

aca101 wrote: »

Anyone else find they're at a bit of a loose end with the elective now? I've done the past papers, mocks and the sample paper...dunno what else I can do now really. Bit of a disaster they never gave us any cases. Don't really want to go back to revising from the book at this stage in the game.

Im the same and ive even revised the book again! Not sure what else to do at this stage either..

bazzer86

Does any one have that 3/4 page summary from the chartered grind school handy with all the rates?

Rob01

bazzer86 wrote: »

Does any one have that 3/4 page summary from the chartered grind school handy with all the rates?

Only thing I have on softcopy is this mindmap for International Taxes. Hope it is of some help to people.

bazzer86

Nice one sound for that... Yeah that's something that I was looking for... There's another one similar to this is the same format but covers the other stuff...

Rob01

I know it's very hard to say but any predictions for what has a higher chance of appearing on the exam.

Mine would be....

VAT on property - due to weak answers in previous years
Trusts - Has not been examined yet
R&D credits/intangible assets - not examined yet

noveltea

VAT on property is a defo....Hopefully the new rules. Then depending on the core if it does not come up in that, like a transfer of trade or reconstruction thing, but if that is in the core tomorrow I doubt they ask it again for the elective.

And I would love a bit of retirement relief.

Bansai

Rob01 wrote: »

I know it's very hard to say but any predictions for what has a higher chance of appearing on the exam.

Mine would be....

VAT on property - due to weak answers in previous years
Trusts - Has not been examined yet
R&D credits/intangible assets - not examined yet

Vat is going to continue to appear until its answered better apparently. Trusts were fairly covered in the mock though and specified intangible assets also came up in the form of patents.

I'd say the Ireland/UK DTT might come up in some form.

I'd love if Revenue Audit/Penalties Q and CGT Retirement Relief Q came up but I suppose that would be too easy.

Szewinska

does anybody find it difficult remember all the vat issues on different sales of services. so may rules.

upnorthchick

lads trust was on last years paper?! sim 1

Bansai

upnorthchick wrote: »

lads trust was on last years paper?! sim 1

Sim 1 of the 2011 Paper was "Maple Electronics" we were told to ignore trusts in that question.

upnorthchick

aww confused lol
my heads fried after todays sh1t!
your prob right trusts, VAT and maybe some IHT - have we seen much of it?

Rob01

Best of luck to everyone 2moro. Nearly there....

noveltea

Ahhhhh what is IHT????

upnorthchick

Inheritance tax. aww not sure if its called that in south
Good luck to you all too.

Username2011

Could someone explain to me what exactly a trading company is? Is it just a manufacturing company?

As in participation exemption only applies to trading subsidies

Thanks