Students

ACCG909 – CPA - Taxation

2014 – MQC S1 Evening

General Information

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Unit convenor and teaching staff Unit convenor and teaching staff Moderator
Dominic Soh
Contact via dominic.soh@mq.edu.au
Unit Convenor
Daisy Chen
Contact via daisy.chen@mqc.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 provide strategic advice regarding the tax issues relating to common business transactions.
  • Ability to analyse events and explain the applicable tax legislation and case law to determine tax liability.

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.

 

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

12 February 2014

-- Week 1

Introduction

Module 1: Tax administration

Module 2: Principles of assessable income

19 February 2014

-- Week 2

Module 3: Capital gains tax

26 February 2014

-- Week 3

Module 4: Principles of General and Specific Deductions

Group assessment topics and groups handed out 

5 March 2014

-- Week 4

1st Multiple Choice exam in class

Module 5: Capital expenditure allowances

 

12 March 2014

-- Week 5

Module 6: Individuals

 

19 March 2014

-- Week 6

 

Module 7: Partnerships

Module 8: Trusts

 

26 March 2014

-- Week 7

Module 9: Companies and dividends

Module 10: Consolidations

 

2 April 2014

-- Week 8

 

Module 11: Transfer pricing

Module 12: Fringe benefits tax

9 April 2014

-- Week 9

 

Module 13: Goods and Services Tax

 

16 April 2014

-- Week 10

2nd Multiple Choice exam in class

 

23 April 2014

-- Week 11

 

 Revision

 Written assignments due  

 

30 April 2014

-- Week 12

CPA exam

 

7 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

Grade Appeals and Final Examination Script Viewing

 

If, at the conclusion of the unit, you have performed below expectations, and are considering lodging an appeal of grade and/or viewing your final exam script 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.city.mq.edu.au/reviews-appeals.html

 

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

 

The University defines serious and unavoidable disruption to studies as resulting from an event or set of circumstances that:

  • could not have reasonably been anticipated, avoided or guarded against by the student; and
  • was beyond the student's control; and
  • caused substantial disruption to the student's capacity for effective study and/or the completion of required work; and
  • substantially interfered with the otherwise satisfactory fulfilment of unit or course requirements; and
  • was of at least three (3) consecutive days duration within a study period and/or prevented completion of the final examination.

A Special Consideration application is deemed to be valid if all the following criteria have been satisfied:

·         The Special Consideration application is completed by the student and submitted online through www.ask.mq.edu.au within five (5) working days after the due date of the associated assessment task / final examination.

·         The application contains supporting evidence to demonstrate the severity of the circumstance(s) and that substantial disruption has been caused to the student’s capacity for effective study. (The University will not follow up on outstanding evidence, nor contact any person or body on behalf of the student. The application will be considered as submitted.)

·         The original supporting documentation has been sighted by MQC reception staff within five (5) working days after the due date of the associated assessment task.

·         Where the particular circumstances are medical in nature, a Professional Authority Form including the health professional’s Medicare Provider Number is included. (If a Professional Authority Form cannot be obtained, an original medical certificate indicating the severity (serious / not serious) and impact of the circumstances must be included with the application.)

·         Where the particular circumstances are non-medical in nature, appropriate supporting evidence indicating the severity (serious / not serious) and impact of the circumstances is included with the application.

·         The student was performing satisfactorily in the unit up to the date of the unavoidable disruption. (If a student’s work in the unit was previously unsatisfactory, subsequent unavoidable disruption will not overcome the fact that the earlier work was unsatisfactory).

Unacceptable grounds for Special Consideration

 

The University has determined that some circumstances are not acceptable grounds for claiming Special Consideration. These grounds include, but are not limited, to:

  • routine demands of employment
  • routine family problems such as tension with or between parents, spouses, and other people closely involved with the student
  • difficulties adjusting to university life, to the self-discipline needed to study effectively, and the demands of academic work
  • stress or anxiety associated with examinations, required assignments or any aspect of academic work
  • routine need for financial support
  • routine demands of sport, clubs and social or extra-curricular activities.

 

Acute Problems

The University defines acute problems as those involving fewer than three (3) consecutive days within a study period. In these cases, students should not apply for special consideration via ask.mq.edu.au, but contact their Unit Convenor within 5 working days of the assessment due date so that a local solution may be discussed, except where the disruption affects completion of a final examination. (If a final examination is affected, the student should submit a special consideration application via ask.mq.edu.au.)

Prior Conditions Conditions existing prior to commencing a unit of study are not grounds for Special Consideration, except in the event of unavoidable deterioration of the condition. The student is responsible for managing their workload in light of any known or anticipated problems. Students with a pre-existing disability/ chronic health condition may contact the Disability Service for information on available support.

In submitting a request for Special Consideration, the student is acknowledging that they may be required to undertake additional work and agreeing to hold themselves available so that they can complete any extra work as required. The time and date, deadline or format of any required extra assessable work as a result of an application for Special Consideration is not negotiable.

 

Attendance

 

All Students are required to attend at least 80% of the scheduled course contact hours each Session.  Additionally MQC monitors the course progress of international students to ensure that the student complies with the conditions of their visa relating to attendance.

This minimum level of attendance includes all lectures and tutorials. Tutorial attendance will be recorded weekly.  If any scheduled class falls on a public holiday this will be rescheduled as advised by your Lecturer. Attendance at any mid-Session or in-class test is compulsory unless otherwise stated.

Unavoidable non-attendance due to illness or circumstances beyond your control must be supported by appropriate documentation to be considered for a supplementary test.  Other non-attendance will obtain zero for the test. You should refer to the section below on Special Consideration for more details about this.

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

Student Support

Students who require assistance are encouraged to contact the Student Services Manager at Macquarie City Campus. Please see reception to book an appointment.

Macquarie University provides a range of Academic Student Support Services. Details of these services can be accessed at http://students.mq.edu.au/support/

At any time students (or groups of students) can book our Student Advising rooms on Level 6 by emailing info@city.mq.edu.au with a day and time and nominated contact person. There are additional student study spaces available on Level 1.

Macquarie University Campus Wellbeing also has a presence on the City Campus each week. If you would like to make an appointment, please email info@city.mq.edu.au or visit their website at: http://www.campuslife.mq.edu.au/campuswellbeing

StudyWISE provides:

·         Online learning resources and academic skills workshops http://www.mq.edu.au/learning_skills

 

·         Personal assistance with your learning & study related questions

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.

IT Help

 

If you wish to receive IT help, we would be glad to assist you at http://informatics.mq.edu.au/help/ or call 02 9850-4357.

 

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 and it outlines what can be done.

 

Students must use their Macquarie University email addresses to communicate with staff as it is University policy that the University issued email account is used for official University communication.

 

Students are expected to act responsibly when utilising Macquarie City Campus IT facilities. The following regulations apply to the use of computing facilities and online services:

 

·         Accessing inappropriate web sites or downloading inappropriate material is not permitted.

·         Material that is not related to coursework for approved unit is deemed inappropriate.

·         Downloading copyright material without permission from the copyright owner is illegal, and strictly prohibited. Students detected undertaking such activities will face disciplinary action, which may result in criminal proceedings.

 

Non-compliance with these conditions may result in disciplinary action without further notice.

 

If you would like to borrow headphones for use in the Macquarie City Campus computer labs (210, 307, 311, 608) at any point, please ask at Level 2 Reception. You will be required to provide your MQC Student ID card.  This will be held as a deposit while using the equipment.

 

For assistance in the computer labs, please see a Lab Demonstrator (usually they can be found in Lab 311, otherwise ask at Level 2 Reception).

 

 

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 provide strategic advice regarding the tax issues relating to common business transactions.
  • Ability to analyse events and explain the applicable tax legislation and case law to determine tax liability.

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 provide strategic advice regarding the tax issues relating to common business transactions.
  • Ability to analyse events and explain the applicable tax legislation and case law to determine tax liability.

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 provide strategic advice regarding the tax issues relating to common business transactions.
  • Ability to analyse events and explain the applicable tax legislation and case law to determine tax liability.

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.