Students
ACCG924 – Taxation Law
2015 – S2 Evening
General Information
Download as PDF
| Unit convenor and teaching staff |
Unit convenor and teaching staff
Lecturer
Shirley Murphy
Contact via shirley.murphy@mq.edu.au
E4B104
To be advised on ilearn
Lecturer
Victoria Lakis
Contact via victoria.lakis@mq.edu.au
E4B104
To be advised on ilearn
Unit Convenor
Catriona Lavermicocca
Contact via Email or Phone on 9850-8528
E4A308
Monday 10 am till 12 noon
Lecturer
Tom O'Sullivan
Contact via tom.osullivan@mq.edu.au
E4B104
To be advised on ilearn
Lecturer
Ming Wong-Too-Yuen
Contact via ming.wong-too-yuen@mq.edu.au
E4B104
To be advised on ilearn
|
|---|---|
| Credit points |
Credit points
4
|
| Prerequisites |
Prerequisites
(ACCG614 or ACCG854) and (admission to MAcc(Prof) or MAcc(CPA) or MAcc(Prof)MCom or MCom)
|
| Corequisites |
Corequisites
|
| Co-badged status |
Co-badged status
|
| Unit description |
Unit description
This unit details and analyses the laws relating to income tax, fringe benefits tax and the goods and services tax in Australia. Students completing this unit will review legislative provisions, case law and rulings and apply their knowledge of the taxation laws to a variety of fact situations and case studies as well as participate in group discussion.
|
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:
- Identify, analyse and apply the law relating to income taxation.
- Identify, analyse and apply the law relating to GST.
- Identify, analyse and apply the law relating to FBT.
- Explain the relevant tax laws and related legal precedents and apply them to a problem or fact situation.
- Determine a particular taxpayer's final income tax, GST and FBT liability.
- Present verbally and in writing conclusions as to the tax implications arising from a particular set of facts.
Assessment Tasks
| Name | Weighting | Due |
|---|---|---|
| 1. Class Participation | 10% | In Class |
| 2. Quiz | 15% | 21 August 2015 5pm |
| 3. Case Study | 25% | 28 September 2015 5pm |
| 4. Final Examination | 50% | Examination Period |
1. Class Participation
Due: In Class
Weighting: 10%
Requires students to make an oral and written presentation.
Each student will be allocated a question and will be required to give one oral presentation analysing and answering the issues in the question. The presentation (worth 5 marks) must not be longer than 7 minutes. Presentations will be marked on the basis of the level of preparation, understanding, accuracy and ability to explain the key issues.
Each student will also be required to submit a written analysis (maximum 300 words) of the issues, the law and how to approach solving the question that they have been allocated. This written analysis (worth 5 marks) must be presented to the lecturer in class on the day of the presentation. This written analysis must not be a repeat of the presentation. It should instead be an explanation of the issues arising from the question, the taxation law relevant to those issues and a suggestion of how the issues can be solved by application of the law. The written analysis should not include calculations or numerical explanations.
Submission: Must be submitted in your designated seminars.
Extension: No extensions will be granted.
Penalties: Students who have not submitted the task prior to the deadline will be awarded a mark of 0 for the task, except for cases in which an application for disruption to studies is made and approved.
On successful completion you will be able to:
- Identify, analyse and apply the law relating to income taxation.
- Identify, analyse and apply the law relating to GST.
- Identify, analyse and apply the law relating to FBT.
- Explain the relevant tax laws and related legal precedents and apply them to a problem or fact situation.
- Determine a particular taxpayer's final income tax, GST and FBT liability.
- Present verbally and in writing conclusions as to the tax implications arising from a particular set of facts.
2. Quiz
Due: 21 August 2015 5pm
Weighting: 15%
Will include 15 multiple choice questions covering topics 1 to 3 and related tutorial questions and will be made available on ilearn on 18 August 2015. Results will be provided to students via iLearn.
Submission: Due online 21 August 5pm. Completed via ilearn.
Extension: No extensions will be granted.
Penalties: Students who have not submitted the task prior to the deadline will be awarded a mark of 0 for the task, except for cases in which an application for disruption to studies is made and approved.
On successful completion you will be able to:
- Identify, analyse and apply the law relating to income taxation.
- Explain the relevant tax laws and related legal precedents and apply them to a problem or fact situation.
- Determine a particular taxpayer's final income tax, GST and FBT liability.
3. Case Study
Due: 28 September 2015 5pm
Weighting: 25%
The case study will cover lecture topics 2 to 7 and related tutorial questions, and is due to be lodged via turnitin and ilearn by 5pm 28 September 2015. The case study will require students to provide a detailed analysis of a fact situation applying the taxation laws to arrive at a conclusion in the form of a piece of advice. Guidelines to marking the case study will be provided on ilearn after the case study marks are returned to students.
Submission: Due on 28 September 2015 at 5pm. Lodged via ilearn and Turnitin.
Extension: No extensions will be granted
Penalties: Students who have not submitted the task prior to the deadline will be awarded a mark of 0 for the task, except for cases in which an application for disruption to studies is made and approved.
On successful completion you will be able to:
- Identify, analyse and apply the law relating to income taxation.
- Explain the relevant tax laws and related legal precedents and apply them to a problem or fact situation.
- Determine a particular taxpayer's final income tax, GST and FBT liability.
- Present verbally and in writing conclusions as to the tax implications arising from a particular set of facts.
4. Final Examination
Due: Examination Period
Weighting: 50%
The final exam is 3 hours plus 10 minutes reading time and held during the formal examination period 9 November 2015 to 27 November 2015. The final exam will cover lecture topics 6 to 12 and related tutorial questions
To pass the unit students must PASS the final exam and achieve an overall passing mark.
University final exam conditions apply.
If a Supplementary Examination is granted as a result of the disruption to studies process the examination will be scheduled as per the Supplementary Examination timetable of the Faculty of Business and Economics. Please note that the supplementary examination will be of a similar format as the final examination.
Materials that may be taken into the exam
You are permitted to take the following materials into the final examination
-
Your own handwritten notes.
-
A calculator.
-
Barkoczy, S. Core Tax Legislation and Study Guide 2015 CCH. This may be written on, marked up by hand or tagged as you see fit.
You are NOT permitted to take into the tests or the exam any other items – you are not, for example, allowed to take your textbook Australian Taxation Law into the exam. Similarly, no photocopies are permitted nor any computer downloads or printed output of any type.
On successful completion you will be able to:
- Identify, analyse and apply the law relating to income taxation.
- Identify, analyse and apply the law relating to GST.
- Identify, analyse and apply the law relating to FBT.
- Explain the relevant tax laws and related legal precedents and apply them to a problem or fact situation.
- Determine a particular taxpayer's final income tax, GST and FBT liability.
Delivery and Resources
Classes
· The thirteen three-hour seminars will consist of a 2 hour lecture and 1 hour tutorial component each week as detailed later in this unit guide.
· The timetable for classes can be found on the University web site at: http://www.timetables.mq.edu.au/
· Class attendance for this unit is compulsory.
Staff teaching in the unit will be available for individual consultation with students. A timetable of when staff will be available will be posted on the unit’s iLearn site.
Students experiencing significant difficulties with any topic in the unit must seek assistance immediately. You are encouraged to seek help at a time that is convenient to you from a staff member teaching on this unit during their regular consultation hours. In special circumstances, an appointment may be made outside regular consultation hours.
Lecturer consultation sessions will be run in the Consultation Room at E4B104.
In order to gain access to the unit convenor located on level 3 of building E4A during consultation hours please ring the staff member from the phones available in the lobby (phone numbers of relevant staff members will be provided on iLearn and are available next to the phones).
Required and Recommended Texts and/or Materials
Prescribed textbooks:
- Woellner, Barkoczy, Murphy, Evans and Pinto Australian Taxation Law 2015 CCH 25th Edition
- Barkoczy, S. Core Tax Legislation and Study Guide 2015 CCH.
All students must purchase the prescribed texts.
Recommended textbooks:
The following is not specifically required but may be used for additional reading.
- Australian Master Tax Guide 2015 53rd Edition CCH
- Nethercott LJ and others Australian Tax Study Manual: Questions and Suggested Solutions 25th Edition CCH (2015)
- Barkoczy S Australian Tax Casebook 2014 12th Edition CCH
The prescribed and recommended texts can be purchased from the Macquarie University Co-op Bookshop and are available in the Macquarie Library.
Additional Resources:
The University library has numerous resources relating to taxation law however you may find particularly useful the on-line resources ‘Tax’ resources available through the library databases, specifically CCH-Online.
Additional resources will be made available on the ilearn unit website for you to download and read.
Unit Web Page
You are required to access a computer and the internet at various times in completing this unit, to download course material available on the learning management system (ilearn) and to complete assessment tasks..
Learning and Teaching Activities
Each week, lecture notes will be placed on i-learn before the class. These notes are only the core notes and they are NOT intended to stand alone nor in place of lecture attendance. They are provided for your convenience. You must also properly construct your own notes based on your own readings and any additional comments, supplements and corrections to these notes which may occur during lectures – and which you MUST attend.
You are not entitled to rely on lecturer provided notes for full study purposes nor as the final indicator of exam content. You are required to and expected to read all text and legislative references and also to take into account comments, additional materials and illustrations and examples which may also be given in lectures.
The three-hour seminars will consist of a 2 hour lecture component and 1 hour tutorial component. It is expected that ALL students have prepared answers to each week’s tutorial questions PRIOR to the seminar.
Workload required for this unit is 150 hours.
Unit Schedule
|
Week |
Lecture |
Presentation |
Seminar date |
|
01 |
Lecture 1 Introduction to taxation law Tax formula, tax rates and tax offsets Administrative aspects of taxation |
No presentations |
Week commencing 27 July |
|
02 |
Lecture 2 General principles of income Income from personal exertion |
Q 1, 2, 3, 4 and 5 relating to Lecture One |
Week commencing 3 August |
|
03 |
Lecture 3 Income from property Income from business International aspects of taxation |
Q 1, 2, 3 and 4 relating to Lecture Two |
Week commencing 10 August |
|
04 |
Lecture 4 Tax Accounting General deductions |
Q 1, 2, 3, 4, 5 and 6 relating to Lecture Three |
Week commencing 17 August |
|
05 |
Lecture 5 Specific deductions Trading stock |
Q 1, 2, 3, 4, 5, 6 and 7 relating to Lecture Four |
Week commencing 24 August |
|
06 |
Lecture 6 Capital allowances and capital works Blackhole expenses Small business concessions Introduction to Capital Gains Tax |
Q 1, 2, 3, 4, 5 and 6 relating to Lecture Five |
Week commencing 31 August
|
| 07 |
Lecture 7 Capital Gains tax |
Q1, 2, 3, 4, 5 and 6 relating to Lecture Six |
Week commencing 7 September |
| Mid session break | 14 September to 27 September | ||
|
08 |
Lecture 8 Goods and Services Tax
|
Q 1, 2, 3, 4 and 5 relating to Lecture Seven |
Week commencing 28 September |
|
09 |
Lecture 9 Trusts Taxation of minors |
Q 1, 2, 3, 4 and 5 relating to Lecture Eight |
Week commencing 5 October* *Class on Monday this week will not be run as it is a Public Holiday. Please attend an alternative class during this week.
|
|
10 |
Lecture 10 Partnerships
|
Q 1, 2, 3, 4 and 5 relating to Lecture Nine |
Week commencing 12 October |
|
11 |
Lecture 11 Companies
|
Q 1, 2, 3, 4, 5 and 6 relating to Lecture Ten |
Week commencing 19 October |
|
12 |
Lecture 12 Fringe benefits tax
|
Q 1, 2, 3, 4, 5 and 6 relating to Lecture Eleven |
Week commencing 26 October |
|
13 |
Lecture 13 Revision |
Q 1, 2, 3, 4 and 5 relating to Lecture Twelve
|
Week commencing 2 November |
|
14 |
EXAMINATION PERIOD STARTS |
|
9 November 2015 |
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/
Results
Results shown in iLearn, or released directly by your Unit Convenor, are not confirmed as they are subject to final approval by the University. Once approved, final results will be sent to your student email address and will be made available in eStudent. For more information visit ask.mq.edu.au.
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 - Capable of Professional and Personal Judgment and Initiative
Our postgraduates will demonstrate a high standard of discernment and common sense in their professional and personal judgment. They will have the ability to make informed choices and decisions that reflect both the nature of their professional work and their personal perspectives.
This graduate capability is supported by:
Learning outcomes
- Identify, analyse and apply the law relating to income taxation.
- Identify, analyse and apply the law relating to GST.
- Identify, analyse and apply the law relating to FBT.
- Explain the relevant tax laws and related legal precedents and apply them to a problem or fact situation.
- Present verbally and in writing conclusions as to the tax implications arising from a particular set of facts.
Assessment tasks
- 1. Class Participation
- 2. Quiz
- 3. Case Study
- 4. Final Examination
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
- Identify, analyse and apply the law relating to income taxation.
- Identify, analyse and apply the law relating to GST.
- Identify, analyse and apply the law relating to FBT.
- Explain the relevant tax laws and related legal precedents and apply them to a problem or fact situation.
- Determine a particular taxpayer's final income tax, GST and FBT liability.
- Present verbally and in writing conclusions as to the tax implications arising from a particular set of facts.
Assessment tasks
- 1. Class Participation
- 2. Quiz
- 3. Case Study
- 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
- Identify, analyse and apply the law relating to income taxation.
- Identify, analyse and apply the law relating to GST.
- Identify, analyse and apply the law relating to FBT.
- Explain the relevant tax laws and related legal precedents and apply them to a problem or fact situation.
- Determine a particular taxpayer's final income tax, GST and FBT liability.
- Present verbally and in writing conclusions as to the tax implications arising from a particular set of facts.
Assessment tasks
- 1. Class Participation
- 2. Quiz
- 3. Case Study
- 4. Final Examination
Changes from Previous Offering
No changes from the previous offering of ACCG924
Research & Practice, Global & Sustainability
This unit addresses global and sustainability issues and the relevant implications arising from the materials, assessment, academic discussion and debate in classes/seminars. The unit promotes sustainability by developing the ability in students to research and locate information relating to recent developments in taxation law. Throughout the unit additional references and materials are provided to facilitate research.