Students
ACCG909 – CPA - Taxation
2016 – S1 Evening
General Information
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| Unit convenor and teaching staff |
Unit convenor and teaching staff
Unit Convenor
Tom O'Sullivan
Contact via Email
E4A104 by appointment
Consultation is available by appointment.
Catriona Lavermicocca
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| Credit points |
Credit points
4
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| Prerequisites |
Prerequisites
ACCG907 and ACCG908 and ACCG913
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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 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.
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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 situations.
- Ability to critically analyse a tax scenario and explain the tax consequences of that scenario.
General Assessment Information
(*) See below for conditions relating to satisfactory completion of this course.
In grading the assessment tasks completed in this unit the Macquarie University Grading Policy will be applied. Please refer to the policy at http://www.mq.edu.au/policy/docs/grading/policy.html. Further detail relating to assessment tasks are set out in the Assessment Guide available on ilearn.
Satisfactory completion of this course
To satisfactorily complete ACCG 909, students must:
- receive a pass grade in the written assignment, as well as an overall pass grade (or higher) for the internal assessment component of the course (comprising of Class Tests 1 & 2, and the group presentation); and
- receive a pass grade (or higher) for the CPA external examination.
Assessment Tasks
| Name | Weighting | Due |
|---|---|---|
| Class test 1 | 15% | 8 March 2016 |
| Class Test 2 | 30% | 12 April 2016 |
| Assignment | 25% | 10 May 2016 |
| Final exam | 30% | Between 23/4 and 8/5 2016 |
Class test 1
Due: 8 March 2016
Weighting: 15%
1 hour duration
Submission: Held in seminar on 8 march 2016
Extensions: No extensions will be granted. Students who do not attend the class test on the allocated date will be awarded a mark of zero, except for cases where an application for Disruption to Studies is made and approved.
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.
- Ability to apply the relevant tax laws and related legal precedents to a problem or fact situation
- Ability to critically analyse a tax scenario and explain the tax consequences of that scenario.
Class Test 2
Due: 12 April 2016
Weighting: 30%
2 hour duration
Submission date: Held in seminar on 12 April 2016.
Extensions: No extensions will be granted. Students who do not attend the class test will be awarded a mark of zero, except for cases where an application for Disruption to Studies is made and approved.
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 critically analyse a tax scenario and explain the tax consequences of that scenario.
Assignment
Due: 10 May 2016
Weighting: 25%
Submission: Written assignment (15%) and group presentation (10%) is due in class in Week 13 - 10 May 2016.
The group presentation is worth 10% and each student in the group will receive the same mark. The written assignment is worth 15% and will be graded on a pass/fail basis
Extensions: No extensions will be granted for the presentation or written assignment. Students who do not present on the allocated day will be awarded a mark of zero for the task. With respect to the written assignment there will be a deduction of 10% of the total available marks made from the total awarded mark for each 24 hour period or part thereof that the submission is late (for example, 25 hours late in submission – 20% penalty). These penalties do not apply for cases in which an application for disruption of studies is made and approved.
Penalties for late submission: 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 critically analyse a tax scenario and explain the tax consequences of that scenario.
Final exam
Due: Between 23/4 and 8/5 2016
Weighting: 30%
The three-hour open book 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.
Submission/Extension/Penalties: The examination will be held under the rules and conditions of CPA Australia. Please refer to details provided by CPA Australia
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 provide strategic advice regarding the tax issues relating to common business situations.
- Ability to critically analyse a tax scenario and explain the tax consequences of that scenario.
Delivery and Resources
Classes
There are 3 hours of face-to-face teaching per week consisting of a 3-hour seminar. Please refer to the following webpage for the specific seminar day and time http://timetables.mq.edu.au.
Students are required to attend all classes.
Required and Recommended texts and/or Materials
Required texts
CPA Program: Advanced Taxation, Deakin University, January 2016 materials (provided to you by CPA Australia)
Recommended texts
Students will need to refer to legislation throughout the course. No legislation reference is prescribed as compulsory, but students would find useful:
OUP Core Tax Legislation and Study Guide (2016 edition), or Thomson Reuters Fundamental Tax Legislation (2016 edition).
Alternatively, students can 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:
OUP Australian Taxation Law, Woellner, Barkoczy, Murphy, Evans and Pinto (2016 edition) CCH Australian Master Tax Guide (2016 edition), or
Thomson Reuters Australian Tax Handbook (2016 edition).
Students would also benefit from referring to the 25th edition of the OUP Australian Taxation Study Manual (Nethercott, Richardson and Devos) which provides questions and suggested solutions to tax problems for the 2014/15 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 iLearn.
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 the scheduled date 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 week's module.
Group work is required in completing the assignment and associated presentation. Workload in completing this unit is 150 hours.
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, and
- knowledge of the library resource database for accessing additional research material.
Unit Schedule
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Week |
Date of Class |
Agenda
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1 |
9 February 2016
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Introduction
Module 1: Tax administration
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2 |
16 February 2016
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Module 2: Principles of assessable income |
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3 |
23 February 2016 |
Module 3: Principles of General and Specific Deductions
Group assessment topics and groups handed out
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4 |
1 March 2016 |
Module 4: Capital expenditure allowances
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5 |
8 March 2016
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Module 5: Capital gains tax
1st Multiple choice exam in class
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6 |
15 March 2016
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Module 6: Individuals
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7 |
To be advised |
Module 7: Partnerships
Module 8: Trusts
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8 |
22 March 2016
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Module 9: Companies and dividends |
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9 |
29 March 2016 |
Module 10: Consolidations
Module 11: Transfer pricing
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10 |
5 April 2016 |
Module 12: Fringe benefits tax
Module 13: Goods and services tax
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11 |
12 April 2016
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2nd Multiple choice exam in class |
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12 |
19 April 2016 |
Revision class
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23 April 2016 to 8 May 2016
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CPAexam |
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13 |
17 May 2016
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Written assignment due
Delivery of group presentations
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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
New Assessment Policy in effect from Session 2 2016 http://mq.edu.au/policy/docs/assessment/policy_2016.html. For more information visit http://students.mq.edu.au/events/2016/07/19/new_assessment_policy_in_place_from_session_2/
Assessment Policy prior to Session 2 2016 http://mq.edu.au/policy/docs/assessment/policy.html
Grading Policy prior to Session 2 2016 http://mq.edu.au/policy/docs/grading/policy.html
Grade Appeal Policy http://mq.edu.au/policy/docs/gradeappeal/policy.html
Complaint Management Procedure for Students and Members of the Public http://www.mq.edu.au/policy/docs/complaint_management/procedure.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://www.mq.edu.au/about_us/offices_and_units/information_technology/help/.
When using the University's IT, you must adhere to the Acceptable Use of IT Resources 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 provide strategic advice regarding the tax issues relating to common business situations.
- Ability to critically analyse a tax scenario and explain the tax consequences of that scenario.
Assessment tasks
- Class test 1
- Class Test 2
- Assignment
- Final exam
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 situations.
- Ability to critically analyse a tax scenario and explain the tax consequences of that scenario.
Assessment tasks
- Class test 1
- Class Test 2
- Assignment
- Final exam
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 situations.
- Ability to critically analyse a tax scenario and explain the tax consequences of that scenario.
Assessment tasks
- Class test 1
- Class Test 2
- Assignment
- Final exam
Changes from Previous Offering
The written assignment is now graded on a pass/fail basis. Students must also receive a pass grade (or higher) in the internal assessment.
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. This unit promotes sustainability by developing the ability in students to research and locate information relating to recent developments in taxation law.
The CPA Australia Advanced Taxation Study Guide includes a reference list at the end of each module containing a number of references that students may use and provides some guidance to references that could be used to research particular issues.