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Unit Summary

Unit type

UG Coursework Unit

Credit points

12

AQF level

7

Level of learning

Advanced

Pre-requisites

ACC00132 - Taxation

Unit aim

Concerned with the application of the principles of income tax law to the different classes of taxpayers including companies, partnerships, trusts, superannuation funds, and special taxpayers. While some attention is given to the preparation of returns for each class of taxpayer, the major emphasis is placed upon the rationale underlying the application and modification of the general principles of taxation in each case. Emphasis is also placed upon the administration of taxation, foreign source income and the operation of Goods and Services Tax.

Unit content

Topic 1: Administration of income tax
Topics 2 & 3: Taxation of companies and company distributions
Topic 4: Taxation and partnerships
Topic 5: Taxation of trust estates and related areas
Topic 6: Introduction to superannuation and related areas of taxation 
Topic 7: Taxation and primary production
Topic 8: Taxation and resource-based industries
Topic 9: Special taxation provisions relating to: artists, writers, sportspersons, research and development, industrial property, Australian films and leases
Topic 10: Foreign source income and foreign income tax offsets
Topic 11: GST
Topic 12: Tax planning and the anti-tax avoidance provisions, and the future of taxation in Australia.

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 discuss the principles of a good tax system as it relates to administration and entities and apply these principles to your analyses of changes to our tax system
2 develop a working knowledge of the law and practice of income taxation in Australia in relation to companies, trusts, partnerships, superannuation funds and specific taxpayers
3 explain the principles and application of the goods and services tax (GST)
4 solve specific taxation questions and problems in the areas of income tax and goods and services tax with reference to the legislation and judicial cases
5 Analyse and explain various tax planning techniques that can be used to legitimately minimise taxpayers' liability to income tax

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

  1. discuss the principles of a good tax system as it relates to administration and entities and apply these principles to your analyses of changes to our tax system
    • GA4:
    • GA6:
  2. develop a working knowledge of the law and practice of income taxation in Australia in relation to companies, trusts, partnerships, superannuation funds and specific taxpayers
    • GA3:
    • GA4:
  3. explain the principles and application of the goods and services tax (GST)
    • GA3:
    • GA4:
  4. solve specific taxation questions and problems in the areas of income tax and goods and services tax with reference to the legislation and judicial cases
    • GA4:
    • GA6:
  5. Analyse and explain various tax planning techniques that can be used to legitimately minimise taxpayers' liability to income tax
    • GA3:
    • GA4:

Prescribed texts

  • Barkoczy, S, 2013, Core Tax Legislation & Study Guide, 16th edn, CCH Australia, North Ryde. ISBN: 978 1 922042 65 1.
  • CCH, 2013, Australian Master Tax Guide Tax Year End 2013, 53rd edn, CCH Australia, North Ryde. ISBN: 9781922042934.
  • Devos, K, Nethercott, L & Richardson, G, 2013, Australian Taxation Study Manual: Questions and Suggested Solutions, 23rd edn, CCH Australia, North Ryde. ISBN: 9781922042927 .
Prescribed texts may change in future teaching periods.