Introduces students to Commonwealth and State taxation laws, with emphasis on general principles and application of each type of tax, and the role of the accountant in the administration of taxation. Students will engage in teacher-directed activities that focus on the interpretation, application and communication of particular taxation aspects governing different entity types.
This unit develops a working knowledge of Australian Taxation legislation including Fringe Benefits Tax Assessment Act 1986, the Income Tax Assessment Act 1936 (ITAA 1936), the Income Tax Assessment Act 1997 (ITAA 1997), Taxation Administration Act 1953 (TAA 1953), Tax Agent Services Act 2009 (TASA).
Topic 1: Overview of Australian income tax
Topic 2: Payroll Systems, PAYG & payment summaries
Topic 3: Goods and Services Tax and other taxes
Topic 4: Fringe Benefits Tax
Topic 5: Concepts of income
Topic 6: Statutory income and exempt income
Topic 7: Capital Gains Tax
Topic 8: General deductions
Topic 9: Specific deductions
Topic 10: Tax accounting, taxation of individuals & software
Topic 11: Taxation of entities
Topic 12: Taxation administration, tax agents & ethics
Unit Learning Outcomes express learning achievement in terms of what a student should know, understand and be able to do on completion of a unit. These outcomes are aligned with the graduate attributes. The unit learning outcomes and graduate attributes are also the basis of evaluating prior learning.
Learning outcomes and graduate attributes
|On completion of this unit, students should be able to:||GA1||GA2||GA3||GA4||GA5||GA6||GA7|
|1||communicate tax information to client taxpayers||Communication and social skills|
|2||apply the principles of the law and practice of income taxation in Australia as it applies to individual and small business taxpayers||Knowledge of a discipline||Lifelong learning|
|3||describe the principles of the goods and services tax (GST), fringe benefits tax, the wine tax, the luxury car and the fuel tax and state-based taxes including payroll tax, stamp duty, and land tax||Knowledge of a discipline|
|4||solve specific taxation problems in the areas of income tax, fringe benefits tax and goods and services tax||Knowledge of a discipline||Lifelong learning|
|5||use information systems in taxation practice including the preparation of a Business Activity Statement (BAS), Instalment Activity Statement (IAS) and an individual income Tax return||Lifelong learning|
|6||explain the statutory and professional obligations of a tax agent and how they influence practitioner conduct in routine contexts||Lifelong learning||Communication and social skills|
- Barkoczy, S, 2017, Core Tax Legislation & Study Guide, 20th edn, Oxford University Press. ISBN: 9780190308513.
- Chow, M, 2017, Australian Master Tax Guide, 60th edn, Oxford University Press. ISBN: 9780994621184.
- Devos, K, Nethercott, L & Richardson, G, 2016, Australian Taxation Study Manual: Questions and Suggested Solutions, 26th edn, Oxford University Press. ISBN: 9780190306342.
- C Coleman, R Hanegbi, S Jogarajan, R Krever, W Obst, J Teoh & A Ting, 2017, Principles of Taxation Law 2017, Thomson Reuters (Professional) Australia Limited, Pyrmont, NSW. ISBN: 9780455239309.
Teaching and assessment
|Lecture online 1 hour (12 weeks)|
|Prepare a BAS and supporting workpapers||15%|
|Prepare an Individual Tax Return, working papers and letter to client||35%|
|Exam: closed book||50%|
Commonwealth Supported courses
For information regarding Student Contribution Amounts please visit the Student Contribution Amounts.
Commencing 2017 Commonwealth Supported only. Student contribution band: 3
Please check the international course and fee list to determine the relevant fees.