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Unit Summary
Unit type
UG Coursework Unit
Credit points
12
AQF level
Level of learning
Intermediate
Former School/College
Pre-requisites
132 credit points in any SCU units AND one of the Units below (LAW00130 Introduction to Law and Contract OR LAW10157 - Australian Legal System OR LAW00101 Legal Studies I OR LAW00111 - Legal Process OR LAW00004 - Company Law (or be enrolled in this unit in the same period)
Unit aim
Introduces the student to the nature and incidence of Commonwealth and State taxation laws, with emphasis being given to the understanding of the general principles and application of each type of tax, and the role of the accountant in the administration of taxation. While the major thrust of the subject is directed towards an understanding of Commonwealth Income Tax, particularly as it applies to the individual taxpayer and small business taxpayer, it also covers other areas of taxation, viz: Goods and Services Tax, Fringe Benefits Tax, and state-based taxes including Payroll Tax, Stamp Duty, and Land Tax.
Unit content
Topic 1 Overview of Australian income tax
Topic 2 Concepts of income
Topic 3 Statutory income and exempt income
Topic 4 Capital Gains Tax
Topic 5 General deductions
Topic 6 Specific deductions
Topic 7 Tax accounting
Topic 8 Taxation of individuals
Topic 9 Fringe Benefits Tax
Topic 10 Goods and Services Tax and other taxes
Topic 11 Taxation administration
Topic 12 Tax Planning and Introduction to taxation of entities
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: | GA1 | GA2 | GA3 | GA4 | GA5 | GA6 | GA7 | |
|---|---|---|---|---|---|---|---|---|
| 1 | discuss and communicate the principles of a good tax system and apply these principles to your analyses of changes to the tax system in Australia | |||||||
| 2 | develop a working knowledge of the law and practice of income taxation as it applies to individual and small business taxpayers in Australia | |||||||
| 3 | explain the principles and application of fringe benefits tax and the goods and services tax (GST) | |||||||
| 4 | solve specific taxation questions and problems in the areas of income tax, fringe benefits tax and goods and services tax with reference to the legislation and judicial cases. | |||||||
On completion of this unit, students should be able to:
-
discuss and communicate the principles of a good tax system and apply these principles to your analyses of changes to the tax system in Australia
- GA4:
- GA6:
-
develop a working knowledge of the law and practice of income taxation as it applies to individual and small business taxpayers in Australia
- GA3:
- GA4:
-
explain the principles and application of fringe benefits tax and the goods and services tax (GST)
- GA3:
- GA4:
-
solve specific taxation questions and problems in the areas of income tax, fringe benefits tax and goods and services tax with reference to the legislation and judicial cases.
- GA3:
- GA4:
- GA6:
Prescribed texts
- Barkoczy, S, 2014, Core Tax Legislation & Study Guide, 17th edn, CCH Australia Ltd, North Ryde. ISBN: 978 1 922215 59 8.
- Chow, M, 2014, Australian Master Tax Guide, 54th edn, CCH Australia Ltd, North Ryde. ISBN: 978 1 922215 57 4.
- Nethercott, L, Richardson, G & Devos, K, 2013, Australian Taxation Study Manual: Questions & Suggested Solutions, 23rd edn, CCH Australia Ltd, North Ryde. ISBN: 978 1 922042 92 7.
- Barkoczy, S, 2014, Core Tax Legislation & Study Guide, 17th edn, CCH Australia Ltd, North Ryde. ISBN: 978 1 922215 59 8.
- Chow, M, 2014, Australian Master Tax Guide, 54th edn, CCH Australia Ltd, North Ryde. ISBN: 978 1 922215 57 4.
- Nethercott, L, Richardson, G & Devos, K, 2013, Australian Taxation Study Manual: Questions & Suggested Solutions, 23rd edn, CCH Australia Ltd, North Ryde. ISBN: 978 1 922042 92 7.