4 reasons why upskilling is vital to your career's health

Learn. Get recognised. Thrive.

It’s safe to say that change and disruption are the new
normal. So, it’s imperative you keep your finger on the pulse and effectively make yourself
indispensable as a professional.

In the tax world, upskilling and achieving the
Chartered Tax Adviser (CTA) designation indicates you've reached the pinnacle
of the tax profession. A respected mark of technical
excellence and professional integrity, Australian tax professionals who attain
the CTA designation are regarded for their leadership and expertise at home and
abroad.

Here are four reasons why
completing the CTA program can be your career's lifeline.

1. It connects you with like-minded professionals

Networking is the name of the game no matter which industry
you work in, and even more so in tax.

CTAs belong to an extensive, network of more than 12,000 tax
advisers and agents, specialist accountants, lawyers, analysts, policy
developers and other practitioners. The Tax Institute’s many events, discussion
groups, and social media channels provide excellent opportunities to network,
connect and discuss ideas, issues and trends that affect the tax profession.

“I get to talk about issues with other tax professionals;
they might have a view on something that I hadn’t even considered,” says James
Collacott, CTA.

“From a technical aspect, I have that fantastic input from
other CTAs in Australia and they’re not even the ones that are in my firm.”

2. It’s badge of
honour

To achieve CTA status, applicants undergo a rigorous testing
process and participate in 30 hours of structured continuing professional
development (CPD) each year. The CTA designation helps to delineate specialist
tax expertise from general accounting or legal services. When clients consult
with a CTA, they know they’re not dealing with someone for whom tax is just an
‘add-on’ skill.

Iain Cooper, Group Manager Taxation at Sinclair Knight Merz,
says, “I’ve done five postgraduate qualifications and it’s the toughest one by
far … It’s the only one I’ve ever failed and it’s because it’s tough that it
represents a gold standard in tax education and tax capability.”

Education:
The CTA designation can set you apart from the competition and help attract more clients.

3. The CTA designation is recognised for its credibility

With a prestigious CTA designation, you’re no longer a
self-professed tax expert.

“You’ve got an independent standard that you’ve had to
conform to that demonstrates your expertise is in tax,” explains Chrystal
Kimber, Advisor at Bowden Liberatore.

“The Tax Institute has enhanced the reputation of the
profession tremendously and the CTA designation has topped that off,” adds Vince
Bailey, CTA, Principal – Vince Bailey Lawyers.

Scott Treatt, CTA Partner, Taxation – Pitcher Partners,
says, “It’s certainly been easier to be recognised among corporates and
clients.”

4. You’ll have a
voice in the tax profession

To undertake the CTA program, you must be an Institute member, which
means you can contribute to the integrity and reputation of the tax profession.
This can be through publishing, presenting, supporting the Institute’s
education program and supporting the development of continuing professional
development programs.

The CTA “illustrates the esteem in which The Tax Institute’s
programmes and the reputation of its members is held internationally,” says Ken
Schurgott, former President of The Tax Institute.

The Tax Institute also advocates on Australian tax policy
issues, and we welcome your contribution to our submissions. In this way, you
can have your say in tax policy debates. Your membership status also gives you
the opportunity to nominate for positions on our various counsels and
committees.

Find out more
about professional
development opportunities and structured education at The Tax Institute.