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Unit Summary

Unit type

UG Coursework Unit

Credit points

12

AQF level

7

Level of learning

Introductory

Unit aim

To equip accounting students with the knowledge of the taxation law and practice in PNG in order to prepare them in their career pursuit in accounting, business and taxation.

Unit content

  1. Overview of PNG
  2. Income Tax
  3. Concepts of Income
  4. Statutory Income & Exempt Income
  5. Statutory Income and Exempt Income
  6. General Deductions
  7. Specific Deductions
  8. Tax Accounting
  9. Taxation of Individuals
  10. GST and Other Taxes
  11. Mining Tax
  12. Tax Administration
  13. Introduction to Taxation Entities & Tax Planning

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 define and state the purposes of taxation
2 appreciate the constitutional taxing powers of PNG Government
3 differentiate receipts that are assessable, capital and exempt under the ITA 1959 as well as deductions that are allowable and non-allowable under the ITA 1959
4 work out the tax profit from the accounting profit
5 calculate the tax liabilities of different types of taxpayers
6 appreciate the taxation administration in relation to the processes and systems in place to enhancing tax compliance and revenue collection
7 appreciate the best tax practice available to tax professionals and taxpayers under the ITA 1959.

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

  1. define and state the purposes of taxation
    • GA4:
  2. appreciate the constitutional taxing powers of PNG Government
    • GA4:
  3. differentiate receipts that are assessable, capital and exempt under the ITA 1959 as well as deductions that are allowable and non-allowable under the ITA 1959
    • GA4:
  4. work out the tax profit from the accounting profit
    • GA4:
  5. calculate the tax liabilities of different types of taxpayers
    • GA4:
  6. appreciate the taxation administration in relation to the processes and systems in place to enhancing tax compliance and revenue collection
    • GA4:
  7. appreciate the best tax practice available to tax professionals and taxpayers under the ITA 1959.
    • GA4: