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Unit Summary

Unit type

UG Coursework Unit

Credit points

12

AQF level

7

Level of learning

Advanced

Former School/College

Former School of Business and Tourism

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: , GA2: , GA3: , GA4: , GA5: , GA6: , GA7:
On completion of this unit, students should be able to: GA1 GA2 GA3 GA4 GA5 GA6 GA7
1 communicate tax information to client taxpayers
2 apply the principles of the law and practice of income taxation in Australia as it applies to individual and small business taxpayers
3 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
4 solve specific taxation problems in the areas of income tax, fringe benefits tax and goods and services tax
5 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
6 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:

  1. communicate tax information to client taxpayers
    • GA6:
  2. apply the principles of the law and practice of income taxation in Australia as it applies to individual and small business taxpayers
    • GA4:
    • GA5:
  3. 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
    • GA4:
  4. solve specific taxation problems in the areas of income tax, fringe benefits tax and goods and services tax
    • GA4:
    • GA5:
  5. 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
    • GA5:
  6. explain the statutory and professional obligations of a tax agent and how they influence practitioner conduct in routine contexts
    • GA5:
    • GA6:

Prescribed texts

  • No prescribed texts.

  • No prescribed texts.
Prescribed texts may change in future teaching periods.