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 including Payroll Systems, PAYG & payment summaries
Topic 2: Concepts of income, statutory income and exempt income
Topic 3: Deductions – general and specific
Topic 4: Fringe Benefits Tax and Capital Gains Tax
Topic 5: Goods and Services Tax
Topic 6: Taxation of entities, 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.
|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
- 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.
- Prescribed text information is not currently available.
Teaching and assessment
Commonwealth Supported courses
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