Students

ACCG909 – CPA - Taxation

2014 – S1 Day

General Information

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Unit convenor and teaching staff Unit convenor and teaching staff
Shirley Murphy
shirley.murphy@mq.edu.au
Credit points Credit points
4
Prerequisites Prerequisites
ACCG926 or ACCG855 or admission to MAdvProfAcc
Corequisites Corequisites
Co-badged status Co-badged status
Unit description Unit description
This unit provides extended formal academic support for full-time students concurrently enrolled in Advanced Taxation segment of the CPA program. The unit provides an in-depth knowledge of the law of income tax as it affects individuals, partnerships, trusts and companies. It also covers comprehensively the practical application of income tax, goods and services tax, capital gains tax and fringe benefits tax in Australia and in relation to overseas transactions.

Important Academic Dates

Information about important academic dates including deadlines for withdrawing from units are available at https://www.mq.edu.au/study/calendar-of-dates

Learning Outcomes

On successful completion of this unit, you will be able to:

  • An advanced and integrated understanding of the income tax laws relating to individuals, partnerships, trusts and companies.
  • An advanced and integrated understanding of the Australian taxation law relating to capital gains tax, GST, and FBT.
  • Ability to apply the relevant tax laws and related legal precedents to a problem or fact situation.
  • Ability to analyse events and explain the applicable tax legislation and case law to determine tax liability.
  • Ability to provide strategic advice regarding the tax issues relating to common business transactions.

Assessment Tasks

Name Weighting Due
1. Class Test 15% Week 4
2. Class Test 30% Week 10
3. Assignment 25% Weeks 11 & 13
4. Final Examination 30% Week 12

1. Class Test

Due: Week 4
Weighting: 15%

Submission : In class on March 6, 2014

Extension: No extensions will be granted

Penalties: Zero marks for non-attempt
On successful completion you will be able to:
  • An advanced and integrated understanding of the income tax laws relating to individuals, partnerships, trusts and companies.
  • An advanced and integrated understanding of the Australian taxation law relating to capital gains tax, GST, and FBT.
  • Ability to apply the relevant tax laws and related legal precedents to a problem or fact situation.
  • Ability to analyse events and explain the applicable tax legislation and case law to determine tax liability.

2. Class Test

Due: Week 10
Weighting: 30%

 

Submission : In class on April 17, 2014

Extension: No extensions will be granted

Penalties: Zero marks for non-attempt

 
On successful completion you will be able to:
  • An advanced and integrated understanding of the income tax laws relating to individuals, partnerships, trusts and companies.
  • An advanced and integrated understanding of the Australian taxation law relating to capital gains tax, GST, and FBT.
  • Ability to apply the relevant tax laws and related legal precedents to a problem or fact situation.
  • Ability to analyse events and explain the applicable tax legislation and case law to determine tax liability.

3. Assignment

Due: Weeks 11 & 13
Weighting: 25%

Submission Written assignment due in class in Week 11 (15%) - April 24, 2014. Group presentation on written assignment in class during Week 13 (10%) - May 8, 2014.

Extension No extensions will be granted unless special consideration has been submitted.

Penalties : 20% of the available marks for any day or part thereof for late submission.
On successful completion you will be able to:
  • An advanced and integrated understanding of the income tax laws relating to individuals, partnerships, trusts and companies.
  • An advanced and integrated understanding of the Australian taxation law relating to capital gains tax, GST, and FBT.
  • Ability to apply the relevant tax laws and related legal precedents to a problem or fact situation.
  • Ability to analyse events and explain the applicable tax legislation and case law to determine tax liability.

4. Final Examination

Due: Week 12
Weighting: 30%

Submission/ Extension /Penalties The examination will be held under the rules and conditions of CPA Australia

 It is a requirement to pass the CPA examination to pass this unit.
On successful completion you will be able to:
  • An advanced and integrated understanding of the income tax laws relating to individuals, partnerships, trusts and companies.
  • An advanced and integrated understanding of the Australian taxation law relating to capital gains tax, GST, and FBT.
  • Ability to apply the relevant tax laws and related legal precedents to a problem or fact situation.
  • Ability to analyse events and explain the applicable tax legislation and case law to determine tax liability.

Delivery and Resources

Classes  

  • There are 3 hours of face-to-face teaching per week consisting of a 3 hour seminar.
  • Students are required to attend all classes during session.

 

Consultation 

  • Students can meet with me after class on Thursdays in E4A Level 2 from 3pm to 4pm. Alternatively, they can email me any questions at: victoria.lakis@mq.edu.au

Required and Recommended Texts and/or Materials

Required Texts

CPA Program: Advanced Taxation, Deakin University, January 2014 (provided to you by CPA Australia)

Recommended Texts

Students will also need to refer to legislation throughout the course. No legislation reference is prescribed, but students would find useful

  • CCH Core Tax Legislation and Study Guide 2014, or
  •  ATP Fundamental Tax Legislation 2014.

Alternatively, students could access tax legislation at  www.comlaw.gov.au.

Additional references

The following books are not required to be purchased, but students would benefit from reference to any of the following as additional reading.

  •  2014 Australian Taxation Law, Woellner, Barkoczy, Murphy, Evans and Pinto, CCH
  •  2014 Master Tax Guide, CCH, or
  •  2014 Australian Tax Handbook, ATP.

Students would also benefit from referring to the 23rd edition of the Australian Taxation Study Manual (Nethercott, Richardson and Devos) which provides questions and suggested solutions to tax problems for the 2012/13 tax year.

Many of the recommended texts and additional references are available in the Library and for purchase from the Macquarie University Co-op Bookshop.

Unit Web Page

  • Course material is available on the learning management system (iLearn).

  • There is no web page for this unit.

Teaching and Learning Activities

The unit is broken up into seminars in which students and the lecturer discuss readings, case studies and assigned questions on specified taxation topics that correlate with the 13 modules. Each seminar will be held on scheduled dates for 3 hours. In between these seminars students are required to work through and complete nominated modules in the CPA program, as well as work on assessment tasks.

In preparation for a seminar, students should work through the relevant modules in the CPA program, as well as work on assessment tasks and self-assessment tests.

Each seminar will consist of a mixture of activities based around the CPA program modules. These will include:

  • Discussion of case studies, examples and questions relating to the previous week’s module, and
  • Review of the main concepts and content, and their practical application, arising from the current module.

 

Technology Used and Required

Students are expected to have:

 - Proficiency in Word, Excel and Powerpoint

 - Knowledge of Macquarie University's online system for downloading materials

 - Knowledge of the library resource database for accessing additonal research material.





Unit Schedule

 

Class date

Topic

13 February 2014

-- Week 1

Introduction

Module 1: Tax administration

Module 2: Principles of assessable income

20 February 2014

-- Week 2

Module 3: Capital gains tax

27 February 2014

-- Week 3

Module 4: Principles of General and Specific Deductions

Group assessment topics and groups handed out 

6 March 2014

-- Week 4

1st Multiple Choice exam in class

Module 5: Capital expenditure allowances

 

13 March 2014

-- Week 5

Module 6: Individuals

 

20 March 2014

-- Week 6

 

Module 7: Partnerships

Module 8: Trusts

 

27 March 2014

-- Week 7

Module 9: Companies and dividends

Module 10: Consolidations

 

3 April 2014

-- Week 8

 

Module 11: Transfer pricing

Module 12: Fringe benefits tax

10 April 2014

-- Week 9

 

Module 13: Goods and Services Tax

 

17 April 2014

-- Week 10

2nd Multiple Choice exam in class

 

24 April 2014

-- Week 11

 

 Revision

 Written assignments due  

 

30 April 2014

-- Week 12

CPA exam

 

8 May  2014

--Week 13

Presentation of group assignments

 

Policies and Procedures

Macquarie University policies and procedures are accessible from Policy Central. Students should be aware of the following policies in particular with regard to Learning and Teaching:

Academic Honesty Policy http://mq.edu.au/policy/docs/academic_honesty/policy.html

Assessment Policy  http://mq.edu.au/policy/docs/assessment/policy.html

Grading Policy http://mq.edu.au/policy/docs/grading/policy.html

Grade Appeal Policy http://mq.edu.au/policy/docs/gradeappeal/policy.html

Grievance Management Policy http://mq.edu.au/policy/docs/grievance_management/policy.html

Disruption to Studies Policy http://www.mq.edu.au/policy/docs/disruption_studies/policy.html The Disruption to Studies Policy is effective from March 3 2014 and replaces the Special Consideration Policy.

In addition, a number of other policies can be found in the Learning and Teaching Category of Policy Central.

Student Code of Conduct

Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/support/student_conduct/

Academic Honesty

The nature of scholarly endeavour, dependent as it is on the work of others, binds all members of the University community to abide by the principles of academic honesty. Its fundamental principle is that all staff and students act with integrity in the creation, development, application and use of ideas and information. This means that:

  • all academic work claimed as original is the work of the author making the claim
  • all academic collaborations are acknowledged
  • academic work is not falsified in any way
  • when the ideas of others are used, these ideas are acknowledged appropriately.

Further information on the academic honesty can be found in the Macquarie University Academic Honesty Policy at http://www.mq.edu.au/policy/docs/academic_honesty/policy.html

Grades

Macquarie University uses the following grades in coursework units of study:

  • HD - High Distinction
  • D - Distinction
  • CR - Credit
  • P - Pass
  • F - Fail

Grade descriptors and other information concerning grading are contained in the Macquarie University Grading Policy which is available at:

http://www.mq.edu.au/policy/docs/grading/policy.html

Grading Appeals

If, at the conclusion of the unit, you have performed below expectations, and are considering lodging an appeal of grade please refer to the following website which provides information about these processes and the cut off dates in the first instance. Please read the instructions provided concerning what constitutes a valid grounds for appeal before appealing your grade.

http://www.businessandeconomics.mq.edu.au/new_and_current_students/undergraduate_current_students/how_do_i/grade_appeals/

Special Consideration Policy

The University is committed to equity and fairness in all aspects of its learning and teaching. In stating this commitment, the University recognises that there may be circumstances where a student is prevented by unavoidable disruption from performing in accordance with their ability. A special consideration policy exists to support students who experience serious and unavoidable disruption such that they do not reach their usual demonstrated performance level. The policy is available at:

http://www.mq.edu.au/policy/docs/special_consideration/policy.html

Student Support

Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/

Learning Skills

Learning Skills (mq.edu.au/learningskills) provides academic writing resources and study strategies to improve your marks and take control of your study.

Student Services and Support

Students with a disability are encouraged to contact the Disability Service who can provide appropriate help with any issues that arise during their studies.

Student Enquiries

For all student enquiries, visit Student Connect at ask.mq.edu.au

IT Help

For help with University computer systems and technology, visit http://informatics.mq.edu.au/help/. 

When using the University's IT, you must adhere to the Acceptable Use Policy. The policy applies to all who connect to the MQ network including students.

Graduate Capabilities

PG - Discipline Knowledge and Skills

Our postgraduates will be able to demonstrate a significantly enhanced depth and breadth of knowledge, scholarly understanding, and specific subject content knowledge in their chosen fields.

This graduate capability is supported by:

Learning outcomes

  • An advanced and integrated understanding of the income tax laws relating to individuals, partnerships, trusts and companies.
  • An advanced and integrated understanding of the Australian taxation law relating to capital gains tax, GST, and FBT.
  • Ability to apply the relevant tax laws and related legal precedents to a problem or fact situation.
  • Ability to analyse events and explain the applicable tax legislation and case law to determine tax liability.
  • Ability to provide strategic advice regarding the tax issues relating to common business transactions.

Assessment tasks

  • 1. Class Test
  • 2. Class Test
  • 3. Assignment
  • 4. Final Examination

PG - Critical, Analytical and Integrative Thinking

Our postgraduates will be capable of utilising and reflecting on prior knowledge and experience, of applying higher level critical thinking skills, and of integrating and synthesising learning and knowledge from a range of sources and environments. A characteristic of this form of thinking is the generation of new, professionally oriented knowledge through personal or group-based critique of practice and theory.

This graduate capability is supported by:

Learning outcomes

  • An advanced and integrated understanding of the income tax laws relating to individuals, partnerships, trusts and companies.
  • An advanced and integrated understanding of the Australian taxation law relating to capital gains tax, GST, and FBT.
  • Ability to apply the relevant tax laws and related legal precedents to a problem or fact situation.
  • Ability to analyse events and explain the applicable tax legislation and case law to determine tax liability.
  • Ability to provide strategic advice regarding the tax issues relating to common business transactions.

Assessment tasks

  • 1. Class Test
  • 2. Class Test
  • 3. Assignment
  • 4. Final Examination

PG - Research and Problem Solving Capability

Our postgraduates will be capable of systematic enquiry; able to use research skills to create new knowledge that can be applied to real world issues, or contribute to a field of study or practice to enhance society. They will be capable of creative questioning, problem finding and problem solving.

This graduate capability is supported by:

Learning outcomes

  • An advanced and integrated understanding of the income tax laws relating to individuals, partnerships, trusts and companies.
  • An advanced and integrated understanding of the Australian taxation law relating to capital gains tax, GST, and FBT.
  • Ability to apply the relevant tax laws and related legal precedents to a problem or fact situation.
  • Ability to analyse events and explain the applicable tax legislation and case law to determine tax liability.
  • Ability to provide strategic advice regarding the tax issues relating to common business transactions.

Assessment tasks

  • 1. Class Test
  • 2. Class Test
  • 3. Assignment
  • 4. Final Examination

Research & Practice

This unit gives you opportunities to conduct your own research and give you practice in applying reasearch findings in your assessment tasks.

Students will be required to use library resources beyond these materials in undertaking research necessary to complete their tasks.

The CPA unit materials have a reference list at the end of each chapter or module containing all references cited by the author. These provide some guidance to references that could be used to research particular issues.