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ACCA F6 Tips for Sept 2016 Exams by Gabriel Chua

ACCAF6 SEPT 2016 EXAM TIPS

 Tips for Section A MCQ

MCQ are tested widely and specifically. Therefore do not skip any material of the F6 syllabus. Questions set in this section are very tricky therefore do not select an answer almost immediately. To score well in this section, you need to be familiar with the nitty-gritty of the tax laws. For example, the specific conditions that must be met for certain type of deductions to be taken.

Likely Tested Topics for Section B

1. Withholding Tax Question
• Take note of the difference between copyright right and copyrighted articles which are not subjected to withholding tax. This has been a popular area recently.
• Make sure you are familiar with the various penalties arising from the non-compliance with WHT rules.
2. Partnership Question (LLP or General Partnership) has been tested in March and June 2016. Most likely tested again.
3. Corporate Tax Computations
• Know your taxable/non-taxable/tax exempt or deductible/non- deductible rules inside out.
• Remember to claim Start-up tax exemption or partial tax exemption and corporate income tax rebate.
• Corporate income tax rebate will be raised to 50% subject to a cap of $20,000.
• Tax deductions for donations is 3 times for qualifying donations made from 1 Jan to 31 Dec 2015 to Institutions of a Public Character (IPC) and other approved recipients.
4. Individual Tax Computations
• It is useful to look at IRAS website for guidance. Examiner usually test very specific scenarios which are covered in this link: https://www.iras.gov.sg/irashome/Businesses/Employers/Tax-Treatment-of-Employee-Remuneration/
• Tax deductions for donations is 3 times for qualifying donations made from 1 Jan to 31 Dec 2015 to Institutions of a Public Character (IPC) and other approved recipients.
5. GST Question
• There are changes to the pre-registration GST claim rules for GST-registered businesses. It may be tested as theory on top of GST calculations. You may refer to Budget 2015 updates for this area.

6. Other areas of the Syllabus which may include: Productivity and Innovation Credit Scheme, Rental Income, Carry forward/ Carry back, Group Relief System, Tax Planning (S.24 Election), Tax Administration, PIC+

Practice as many past year questions as possible and refer to the IRAS website as much as you can. Stay calm during the exam and answer as much as you can. Often fear of the exam question throw students off. Focus on what you can do and not what you can’t do. Time management is important, watch the clock and don’t spend too much time on one question, move on.

I wish you best of luck for your ACCA F6 revision! Good luck for your examination And may the odds be in your favor!

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