Category Software

RPL: A Smart Way to Advance your Skills and Experience

If you want to advance your studies or gain more experience through training, it is advisable to consider the knowledge and experience that you already have as well. With that in mind, you may be able to take lesser time in getting your qualification, or even acquire your desired qualification without studying. Now, that is where RPL assessment comes into play.

What is Recognition of prior learning?

Recognition of prior learning (RPL) is an assessment carried out to determine the level of knowledge and experience that you have acquired on the job and through life. For instance, if you have served in an office for a considerable period, you could have a qualification in business administration or office management.

This happens after a thorough RPL assessment. Similarly, serving on a farm can help you qualify in crop production or animal husbandry, after RPL assessment. It is equally important to evaluate yourself before you embark on RPL assessment in North Hobart, TAS. This can help you determine the right qualifications to meet the skills and experience you have gained over the years.

Skills assessment

When it comes to skills assessment, experts do it based on industry standards. For instance, you may have to perform certain tasks, provide samples of your previous work, or to explain various steps in accomplishing certain tasks. In that regard, RPL assessors may arrange visits to your workplace for a one-on-one consultation and demonstration of your abilities. After the assessment, your skills and knowledge should match a particular qualification.

Who should you contact?

For best RPL assessment in North Hobart, TAS, you should register with a reliable organization. You can also contact your country’s Department of Education. The advice you get from such sources can help you weigh your RPL options. For example, you can discuss the cost of the assessment, which varies from one provider to another.

Previous study—transfer of credits

 One of the arms of RPL assessment involves transfer of credits, a process that recognizes what you have already achieved at school, college, or university. You may also gain credits from a past course that you undertook. It is advisable to confirm with your previous institutions before you enroll. In the same way, you need to have all the certificates and transcripts before you can qualify for trade recognition. For example, in Australia, you may consult the department of Trades and Recognition Service for advice about the skills you may have from previous trades.

Assessment methods

When you enroll for RPL assessment, ensure that the assessors use the right adjustment. For example, the assessment should be based on your literacy level, your experience, and cultural background. In addition, the assessment should consider specific proof to show your prior achievements against which you are looking for a credit. Finally, yet on a very important note, the assessment should offer various means by which you can demonstrate that you meet the requirements for the award of given credits.

To that end, engaging reliable providers of RPL assessment is something worth considering. Reliable providers will provide you with the resources you need for a thorough assessment of your skills and experience.


Increase Results: Ditching Financial Advisers

In a study made by the Social Science Research network, it showed that the people who chose the wrong financial advisors lost an average total of 5 percent on stocks. Again, that is on the average. There are cases in which the business owner was forced to file bankruptcy and a financial lawsuit was the only answer to the problem. So, you might say that 5 percent is merely nothing but that is not the case especially with historical share prices ASX investments.

Put it this way, if you have a hundred thousand investment portfolio, you should be getting a return of 12 percent. However, because your financial adviser screwed up, you are only getting a 5 percent increase. We are talking about a difference of more than two million dollars of hard earned money here. So, before researching the historical share prices ASX has, read on this article to find out why it is better to handle your finances on your own.

It will be easier in the long run

This might sound absurd to you, but learning on your own can actually bring you good things financially. First of all, you don’t have to pay extra for financial advisers. Almost everything that they will say can be learned and found in books. There are also software that are offered online that might help you calculate, compare and research historical share prices ASX investments like the one JustData has. So, since you are learning on your own, you might commit mistakes and that’s completely normal. But, you don’t have to worry because these mistakes will cause very minimal effects on your business because of the software that you are using.

Higher returns

As stated above, the statistics depict that by handling your own finances you are not only securing your profit, but you are also securing the posterity of your company as well. One thing that we know about numbers is that they don’t lie. Another interesting statistic that you need to know is that a majority of these companies and personalities are small to medium investors. This means that they are just normal people like you.

Higher investments

By tying up with a financial adviser, you are more likely to end up with safer yet lower yielding financial investments. One thing that you need to understand about trading and buying stocks is that it is a gamble. As true as it may, it should still be a well calculated gamble. Relying on your personal knowledge and experience is not bad at all if they yield good results.

With no one to stop you from investing into high risk yet high yielding stocks, you are increasing your chances to success. However, remember that this is a two edged sword. You are on your own now and you don’t have anyone to blame. So you should take extra caution and study every possible angle that might bring you down. So, go ahead and do your homework on ASX historical share prices. For more details, just visit


Updated Guidance on Acquiring Actuarial Certificates

The ATO have conducted updates to their technical guidance in regard to claiming exempt current pension income, or ECPI as well as when one requires an actuarial certificate. Two key areas exist where the current industry-practice could be different from the interpretation applied by ATO. Practitioners should thus be mindful of two aspects as follows:

actuarial certificate

  • Segregated pension assets require being in place all financial year through to exclude need for actuarial certification.
  • Claiming ECPI is now not an optional undertaking

Segregated pension assets

Recently, the ATO updated a section on its website that explains the exemption of paying taxes on pension assets. It delineates three requirements for putting claims on ECPI without requiring actuarial certification. The ATO states that someone does not require obtaining an actuarial certificate for claiming ECPI under the conditions below:

  • When claiming the tax exemption via the segregated assets method
  • Where assets were segregated for the full income-year
  • If all the time when pensions were payable for the income-year, the SMSF paid just the allocated pensions, account-based pensions or market-linked pensions and not any other form of pension

It is crucial noting that ATO will presume that all fund assets meet the segregation-requirement, if a fund is in pension phase entirely and has only account-based pensions for the entire year. This situation is somewhat of a change in approach for a lot of SMSF practitioners, especially under the following circumstances:

  • Pensions Initiated Midway through a Tax Year. ATO states that account-based pensions have to be in place throughout the year for them to be considered as segregated pensions and be exempt from actuarial certification. The certificate will be needed for claiming ECPI for a fund that has pensions starting mid-way through a particular financial year.
  • Pension Stopped Midway through a Tax Year. Commuting pensions are subject to the same argument. A fund that ceases pension on any date apart from 30th June is likely to require actuarial certification for claiming ECPI.
  • Utilizing Contributions and Rollovers for Starting New Pensions. In essence, funds that receive whether new contributions or rollovers and commence new pensions immediately would be subject to similar treatment. Such pensions would not have been activated for the full financial year that the fund would need an actuarial certificate.

One can however obtain an actuarial certificate in Bellerive swiftly in situations where this is necessary for claiming ECPI.

Claiming ECPI is not optional

A lot of practitioners within the industry had held the view that trustees were not under obligation to claim ECPI under certain circumstances, such as when cost of doing this outweighed the tax benefit appreciably. It was initially thought that trustees could choose to pay tax liable on the income rather than make payment for actuarial certification then claim ECPI. However, the ATO has issued clear guidelines objecting this view. A fund has to claim appropriate amount of ECPI if at any point in the course of the year it gets to pay pensions. The ECPI however needs to be claimed via the unsegregated method, which requires someone to obtain actuarial certification or alternatively employ the segregated method.

Still, one can find the help that Bellerive actuarial certificate services offer quite strategic if it proves necessary presenting the invaluable document.