Unit convenor and teaching staff |
Unit convenor and teaching staff
Unit Convenor
Peter Crowfoot
Contact via peter.crowfoot@mq.edu.au
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Credit points |
Credit points
3
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Prerequisites |
Prerequisites
(6cp in LAW or LAWS units at 300 level and (LAWS256 or LAW456 or LAW406)) or (39cp including BUSL250 and BUSL301)
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Corequisites |
Corequisites
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Co-badged status |
Co-badged status
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Unit description |
Unit description
This unit covers an examination of the Australian taxation system. The unit covers the examination of what is income, the taxation of capital gains, deductions, capital allowances, and tax avoidance issues. The unit covers the administration of the taxation system and the taxation of companies, trusts and partnerships. The unit also covers a treatment of the social security system and the legal availability of welfare benefits. The unit is significant as it provides a basic knowledge of the taxation system and is a good background for all law students whether or not they practice in the taxation area.
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Information about important academic dates including deadlines for withdrawing from units are available at https://www.mq.edu.au/study/calendar-of-dates
On successful completion of this unit, you will be able to:
Assignment/Assessment submission
Weekly coursework: Internal students – hand in at tutorials. Up to 2 A4 pages, handwritten.
External students – first 6 week’s work as above to be handed in at the on-campus session during the mid-semester break. The second six week’s work will be self-corrected based on information which will be provided.
Written report - Microsoft word document, 12 point type double spaced, of maximum length 1100 words. Submitted electronically via Turnitin. The question will be made available on iLearn at 9am on Friday September 5th 2014, and answers must be uploaded to Turnitin by 10pm on Friday September 12th 2014.
In-tutorial test - Internal students – completed and handed in during the tutorial.
External Students - completed and handed in during the on-campus session.
Final examination - The Final Examination paper will be made available on iLearn at 9am on Tuesday November 18th 2014. Answers are to be submitted as a Microsoft word document, 12 point double spaced via Turnitin by 10pm on Tuesday November 25th 2014. Each question will indicate the maximum number of words for that answer.
Extensions and penalties.
Assessments or assignments uploaded after the cut-off time on the dates given above will not be accepted for marking (that is, a zero mark will be awarded), except for cases of serious and recognised disruption to study (see below).
When a student suffers a disruption to study which is ‘serious and unavoidable’ they may apply for special consideration. In order to do so the student must meet the criteria under the Macquarie University "Disruption to Studies" policy and be approved by the Unit Convenor. Applications are made online at ask.mq.edu.au. Outcomes for recognized serious and unavoidable disruptions to studies are as set out in the University schedule - http://www.mq.edu.au/policy/docs/disruption_studies/schedule_outcomes.html
When a disruption to study is not serious or unavoidable, the approach to special consideration and the impact on your assessment will be as follows:
Marked Attendance - tutorials: In general no special consideration is given. However for tutorials missed because of illness a medical certificate can be presented at the next tutorial attended. If compulsory excursions or trips are required by other subjects enrolled in, documentary evidence of this will be accepted
Marked Attendance - On-Campus Session, External Students: No special consideration, attendance is compulsory.
Graded Participation - tutorial: In general no special consideration is given. However for tutorials missed because of illness a medical certificate can be presented at the next tutorial attended. If compulsory excursions or trips are required by other subjects enrolled in, documentary evidence of this will be accepted
In-Tutorial Test: In general no special consideration is given. However for a test missed because of illness a medical certificate can be presented at the next tutorial attended. If compulsory excursions or trips are required by other subjects enrolled in, documentary evidence of this will be accepted. The student will be required to sit for a supplementary test.
Written Report - – no or late submission: no special consideration; a grade of zero
Final Examination – no or late submission: no special consideration; a grade of zero
Final Examination (performance affected) no special consideration; a grade of zero
Final Examination (preparation affected) no special consideration; a grade of zero
Name | Weighting | Due |
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Weekly problems | 10% | Weekly |
Presentations | 5% | As assigned |
Participation | 5% | Weekly |
Written Report | 15% | September 12, 2014 |
In-tutorial test | 15% | Tutorial in week 6 |
Final Examination | 50% | November 25th 2014 |
Due: Weekly
Weighting: 10%
Internal students – hand in at tutorials. Up to 2 A4 pages, handwritten.
External students – first 6 week’s work as above to be handed in at the on-campus session during the mid-semester break. The second six week’s work will be self-corrected based on information which will be provided.
Due: As assigned
Weighting: 5%
Up to 5 marks are awarded for a student’s presentation(s.) The answer should be presented logically and succinctly, keeping the attention of the audience and explaining any difficulties overcome. Answers to questions from the Tutor and other students should show that the student has good knowledge of the subject and is not just parroting information provided by others in the group. Should students give more than one presentation the higher mark is used if the marks should differ.
Due: Weekly
Weighting: 5%
Up to 5 marks are awarded for general tutorial participation in the way of asking questions and taking part knowledgeably in discussions.
Due: September 12, 2014
Weighting: 15%
Microsoft word document, 12 point type double spaced, of maximum length 1100 words. Submitted electronically via Turnitin. The quesion will be made available on iLearn at 9am on Friday September 5th 2014, and answers must be uploaded to Turnitin by 10pm on Friday September 12th 2014.
Due: Tutorial in week 6
Weighting: 15%
Completed and handed in during the tutorial held in Week 6
Due: November 25th 2014
Weighting: 50%
The Final Examination paper will be made available on iLearn at 9am on Tuesday November 18th 2014. Answers are to be submitted as a Microsoft word document, 12 point double spaced via Turnitin by 10pm on Tuesday November 25th 2014. Each question will indicate the maximum number of words for that answer.
There will be no “live” lectures given. Rather, lectures will be pre-recorded using Echo and posted on iLearn, so attendance is not required. A full set of slides will accompany each lecture and these will also be posted separately on iLearn. Most weeks the lecture will be divided into several individual recordings, each covering a specific topic. There will also be a one-hour tutorial each week.
For External Students there will be two on-campus days during the Mid-Semester Break, as detailed in the Unit Schedule. For these students attendance during both of these days is compulsory and a requirement of the Course.
For tutorial times and classrooms please consult the MQ Timetable website: http://www.timetables.mq.edu.au. This website will display up-to-date information on your classes and classroom locations.
Prescribed Texts
NOTE: Out-of-date editions of the text will not contain the latest changes in Taxation Law and may result in students learning incorrect material. Therefore you are strongly advised not to purchase second-hand older editions of the text.
Reference materials
While references to the prescribed weekly readings for this Unit are mainly from the prescribed text, references will also be made during the lectures to reported cases, rulings and other pronouncements issued by the Australian Taxation Office.
(a) Commentaries: Both CCH and Thomson Reuters provide an on-line service covering a commentary onthe relevant legislation, rulings and reports and other pronouncements of the Australian Taxation Office. These on-line tax services are also available in multi-volume loose-leaf formats.The on-line service of CCH can be accessed from the University Library’s database.
(b) Useful Internet sites: Internet resources are a very valuable source of information relating tocurrent developments on taxation issues. Some useful sites include:
(i) ATO website: The Australian Taxation Office Internet site www.ato.gov.au . This site offers access to:
all ATO rulings and other pronouncements
current ATO publications
legislation
Australian and selected overseas tax case law
all ATO forms
(ii) Access to other internet sites which are relevant to tax issues can be located at:
Australian Treasury: http://www.treasury.gov.au. This site contains Treasury press releases and consultation documents.
CPA Australia: http://www.cpaaustralia.com.au. This site contains relevant information including submissions canvassing tax reform.
Institute of Chartered Accountants in Australia: http://www.icaa.org.au. This site contains relevant
information including submissions canvassing tax reform.
Deloitte: http://www.deloitte.com.au Click on “tax central” to access information on proposed tax reforms.
Ernst & Young: http://www.ey.com/global/gcr.nsf/austaralia/home. Good for keeping up to date on tax reforms.
KPMG: http://www.kpmg.com.au. Very useful, especially for its “Daily Tax News”.
Board of Taxation: http://www.taxboard.gov.au. Contains information on proposed tax changes.
(iii) Cases, rulings, and legislation can also be accessed from the following sites:
Cases: Scaleplus site http://scaleplus.law.gov.au
Cases: Australian Legal Information Institute site http://www.austlii.edu.au
Cases and Taxation rulings: Australian Taxation Office; http://www.ato.gov.au
Lectures (recorded on iLearn)
Week |
Commences |
Topic |
1 |
August 4th |
Introduction and Operating framework of the Australian Tax System |
2 |
August 11th |
Ordinary Income 1 |
3 |
August 18th |
Ordinary Income 2 |
4 |
August 25th |
Ordinary Income 3 |
5 |
September 1st |
Statutory Income and Compensation |
6 |
September 8th |
Allowable Deductions 1 |
7 |
September 15th |
Allowable Deductions 2 |
Mid-Semester break. External Students’ On-Campus days 9am to 4pm October 2nd and 3rd (attendance is compulsory). |
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8 |
October 6th |
Taxable Income and calculation of tax payable |
9 |
October 13th |
Companies and shareholders |
10 |
October 20th |
Trusts and Partnerships |
11 |
October 27th |
Goods and Services Tax |
12 |
November 3rd |
Fringe Benefits tax |
13 |
November 10th |
Tax avoidance, ethics, tax administration, tax collection mechanisms |
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.
Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/support/student_conduct/
Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/
Learning Skills (mq.edu.au/learningskills) provides academic writing resources and study strategies to improve your marks and take control of your study.
Students with a disability are encouraged to contact the Disability Service who can provide appropriate help with any issues that arise during their studies.
For all student enquiries, visit Student Connect at ask.mq.edu.au
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.
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This graduate capability is supported by:
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This graduate capability is supported by:
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This graduate capability is supported by:
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This graduate capability is supported by:
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This graduate capability is supported by:
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This graduate capability is supported by:
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This graduate capability is supported by:
Date | Description |
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17/07/2014 | Updated Disruption to Study and Special Consideration section |