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).
Module 1: Overview of Australian income tax including payroll systems
Module 2: Income Tax – Concepts of income including statutory income and exempt income, and capital gains
Module 3: Income Tax – General and specific deductions
Module 4: Goods and services tax
Module 5: Fringe benefits tax
Module 6: Income Tax – Taxation of entities, taxation administration, tax agents, and 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.
|On completion of this unit, students should be able to:|
|1||Develop and apply solutions for various types of taxation including goods and services tax (GST), fringe benefits and capital gains tax.|
|2||Apply the principles of the law and practice of income taxation in Australia as it applies to individual and small business taxpayers|
|3||Perform tax calculations and communicate tax information to clients|
|4||Explain the statutory and professional obligations of a tax agent and how they influence practitioner conduct in routine contexts|
On completion of this unit, students should be able to:
- Develop and apply solutions for various types of taxation including goods and services tax (GST), fringe benefits and capital gains tax.
- Apply the principles of the law and practice of income taxation in Australia as it applies to individual and small business taxpayers
- Perform tax calculations and communicate tax information to clients
- Explain the statutory and professional obligations of a tax agent and how they influence practitioner conduct in routine contexts
Prescribed Learning Resources
- Sadiq, K, Black, C, Hanegbi, R, Jogarajan, S, Krever, R, Obst, W & Ting, A, 2020, Principles of Taxation Law 2020, Thomson Reuters (Professional) Australia Limited, Pyrmont, NSW.
- The prescribed text is updated every financial year. Please refer to the Unit's MySCU site for the edition details of your text, Principles of Taxation Law, Thomson Reuters (Professional) Australia Limited, Pyrmont, NSW.
Teaching and assessment
Commonwealth Supported courses
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Fee paying courses
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