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Unit of Study ACCT2001 - Taxation (2021)

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Unit Snapshot

  • Enrolment information

    It is strongly recommended that you have an ability to read and navigate pieces of legislation applicable to Australian Law.

Unit description

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.

Unit content

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

Availabilities

Location Domestic International
Melbourne
Session1
Session1,3
Online
Session1,3
Session1,3
Perth
Session1
Session1,3
Sydney
Session1
Session1,3

Learning outcomes

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:

communicate tax information to client taxpayers

apply the principles of the law and practice of income taxation in Australia as it applies to individual and small business taxpayers

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

solve specific taxation problems in the areas of income tax, fringe benefits tax and goods and services tax

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

explain the statutory and professional obligations of a tax agent and how they influence practitioner conduct in routine contexts

Prescribed learning resources

Prescribed Texts
  • No prescribed texts.

Prescribed Texts
  • No prescribed texts.

Prescribed Learning Resources may change in future Teaching Periods.