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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD THAT HAS PASSED THE END DATE: 

Present a proposal to optimise the tax aspects of the wealth management of an entity 
SAQA US ID UNIT STANDARD TITLE
14521  Present a proposal to optimise the tax aspects of the wealth management of an entity 
ORIGINATOR
SGB Financial Services 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Finance, Economics and Accounting 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 5  Level TBA: Pre-2009 was L5 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Passed the End Date -
Status was "Registered" 
2003-08-13  2006-08-13  SAQA 0249/03 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2007-08-13   2010-08-13  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This unit standard is replaced by: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
242574  Present a proposal to optimise the tax aspects of the wealth management of an entity  Level 5  Level TBA: Pre-2009 was L5   

PURPOSE OF THE UNIT STANDARD 
This Unit Standard is intended for learners who give financial advice such as intermediaries, financial planners, product developers, trust officers, tax planners, financial managers and attorneys.

The qualifying learner is capable of:
  • Showing insight into how different assets and instruments are taxed.
  • Analysing the current tax position of an entity.
  • Identifying possible tax solutions.
  • Presenting a possible solution to optimise tax aspects of a wealth management portfolio. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    There is open access to this Unit Standard. Learners should be competent in Communication and Mathematical and Financial Literacy at NQF Level 4. 

    UNIT STANDARD RANGE 
  • Investment instruments include unit trusts, long-term policies, shares, property, fixed assets, containers, hard assets, stocks, investment portfolios, money market instruments and offshore investments.
  • An entity is an individual, company or trust. 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Demonstrate knowledge and insight into how different assets and instruments are taxed. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. The tax implications on three investment instruments are explained with reference to capital growth, income rebates, deductions and exemptions. 

    ASSESSMENT CRITERION 2 
    2. The ways in which different types of income are taxed and why each type is taxed in that manner are explained with reference to interest, dividends, capital growth, income that is exempt, rental and capital gains tax. 

    SPECIFIC OUTCOME 2 
    Analyse the current tax position of an entity. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. The assets of an entity are scrutinised to determine which assets are taxable and the type of tax incurred by each. 

    ASSESSMENT CRITERION 2 
    2. The tax position of the entity is established based on the current assets. 

    ASSESSMENT CRITERION 3 
    3. The current life cycle of the entity is analysed for tax purposes. 

    SPECIFIC OUTCOME 3 
    Identify possible tax solutions. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. Potential tax solutions are researched in terms of legislation, the nature of the entity and the nature of the assets. 

    ASSESSMENT CRITERION 2 
    2. Potential tax solutions are sorted for best tax effect over the long term. 

    ASSESSMENT CRITERION 3 
    3. Instruments that optimise the best after tax return are grouped and explained in terms of the advantages and disadvantages of each beyond tax. 

    ASSESSMENT CRITERION 4 
    4. The potential impact of a tax solution on the asset portfolio is calculated and explained for three different solutions. 

    SPECIFIC OUTCOME 4 
    Present a possible solution to optimise tax aspects of a wealth management portfolio. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. A final proposal is drafted that includes recommendations, calculations, advantages and disadvantages of the proposal and cost implications. 

    ASSESSMENT CRITERION 2 
    2. A plan of action including timeframes is drafted to restructure a portfolio in terms of the proposal. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
    This Unit Standard will be internally assessed by the provider and moderated by a moderator registered by INSQA or a relevant accredited ETQA. The mechanisms and requirements for moderation are contained in the document obtainable from INSQA (INSQA framework for assessment and moderation). 

    UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    N/A 

    UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    The learner is able to identify and solve problems in which responses show that responsible decisions using critical and creative thinking have been made in proposing a potential tax solution. 

    UNIT STANDARD CCFO ORGANISING 
    The learner is able to organise and manage him/herself and his/her activities responsibly and effectively in drafting a proposal and plan of action for restructuring a portfolio. 

    UNIT STANDARD CCFO COLLECTING 
    The learner is able to collect, organise and critically evaluate information in order to propose possible tax solutions. 

    UNIT STANDARD CCFO COMMUNICATING 
    The learner is able to communicate effectively using visual, mathematics and language skills in the modes of oral and/or written presentations in explaining a proposed solution and drafting a proposal and plan of implementation. 

    UNIT STANDARD CCFO SCIENCE 
    The learner is able to use science and technology effectively and critically in manipulating information using a computer. 

    UNIT STANDARD CCFO DEMONSTRATING 
    The learner is able to demonstrate an understanding of the world as a set of related systems by recognising that problem-solving contexts do not exist in isolation in explaining ways in which different types of income are taxed and explaining the potential impact of a tax solution on an asset profile. 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    UNIT STANDARD NOTES 
    This unit standard has been replaced by unit standard 242574, which is "Present a proposal to optimise the tax aspects of the wealth management of an entity", Level 5, 4 Credits. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  23973   National Certificate: Financial Services: Wealth Management  Level 5  Level TBA: Pre-2009 was L5  Passed the End Date -
    Status was "Registered" 
    2006-08-13  Was INSETA until Last Date for Achievement 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    1. Sanlam Life Insurance Ltd 



    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.