Singapore University of Social Sciences

Tax and Estate Planning (FIN373)

Synopsis

A financial planner should be well informed about the basics of tax and estate planning for clients. Tax considerations are very important when dealing with different investment alternatives. This requires an understanding of the tax code for treatment of income and of deductible expenses. When individuals hold assets in many countries, understanding the implications of cross-border taxation is also important. For high net worth clients, estate planning is a significant concern. Estate planning includes will planning, the use of power of attorney, rights of beneficiaries and the formation of trusts. The course covers these aspects of tax and estate planning.

Level: 3
Credit Units: 5
Presentation Pattern: Every July
E-Learning: BLENDED - Learning is done MAINLY online using interactive study materials in Canvas. Students receive guidance and support from online instructors via discussion forums and emails. This is supplemented with SOME face-to-face sessions. If the course has an exam component, this will be administered on-campus.

Topics

  • Tax code in Singapore – income- deductions – administration of tax system – tax audit
  • Tax planning – tax implications of CPF and SRS Schemes – cross-border tax implications – tax aspects of investment
  • GST – stamp duty – property tax
  • Will planning
  • Trusts – estate duty – family law
  • Business succession planning

Learning Outcome

  • Explain the tax codes in relation to income, expenses and deductions
  • Analyse cross-border taxation issues
  • Assess the tax impact and implications of participating in CPF and SRS
  • Compare the tax aspects of different investment structures
  • Assess how GST, Stamp Duty and Property Tax influence tax planning
  • Apply the basics of will planning, and power of attorney
  • Draw plans to form trusts and business succession
  • Formulate tax and estate plans
  • Discuss the important tax codes
  • Demonstrate the essential knowledge and interpersonal skills to work effectively in a team
  • Demonstrate proficiency in writing
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