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Unit Summary

Unit type

UG Coursework Unit

Credit points

12

AQF level

7

Level of learning

Advanced

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 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

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.

GA1: Intellectual rigour, GA2: Creativity, GA3: Ethical practice, GA4: Knowledge of a discipline, GA5: Lifelong learning, GA6: Communication and social skills, GA7: Cultural competence
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 Knowledge of a discipline Communication and social skills
2 develop a working knowledge of the law and practice of income taxation as it applies to individual and small business taxpayers in Australia Ethical practice Knowledge of a discipline
3 explain the principles and application of fringe benefits tax and the goods and services tax (GST) Ethical practice Knowledge of a discipline
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. Ethical practice Knowledge of a discipline Communication and social skills

On completion of this unit, students should be able to:

  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
    • GA4: Knowledge of a discipline
    • GA6: Communication and social skills
  2. develop a working knowledge of the law and practice of income taxation as it applies to individual and small business taxpayers in Australia
    • GA3: Ethical practice
    • GA4: Knowledge of a discipline
  3. explain the principles and application of fringe benefits tax and the goods and services tax (GST)
    • GA3: Ethical practice
    • GA4: Knowledge of a discipline
  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.
    • GA3: Ethical practice
    • GA4: Knowledge of a discipline
    • GA6: Communication and social skills

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.
Prescribed texts may change in future study periods.