Coronavirus (COVID-19) Update
Due to the Coronavirus (COVID-19) pandemic, any references to assessment tasks and on-campus delivery may no longer be up-to-date on this page.
Students should consult iLearn for revised unit information.
Find out more about the Coronavirus (COVID-19) and potential impacts on staff and students
Unit convenor and teaching staff |
Unit convenor and teaching staff
Unit Convenor & Lecturer
Daisy Chen
Lecturer
Jin Oh Park
Contact via Nick
Moderator
Hope Ashiabor
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Credit points |
Credit points
10
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Prerequisites |
Prerequisites
(ACCG614 or ACCG6014) and admission to MAccg or MAccLead or MAccg(Adv) or MProfAcc or MProfAccgLead
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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 examines the laws relating to income tax (including the taxation of capital gains), fringe benefits tax and the goods and services tax in Australia and their application to determine a particular entity’s tax liability. In completing this unit, students will be able to identify, explain, analyse and apply relevant tax legislation, case law and rulings to a variety of fact situations, making conclusions and recommendations. In addition, the tax issues specific to individuals, partnerships, trusts and companies are considered and compared. Specifically, students can identify, analyse and apply the law relating to income tax and determine a particular taxpayer's final income tax liability; identify, analyse and apply the law relating to GST and FBT and determine a particular taxpayer's GST and FBT liability; 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. |
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:
Coronavirus (COVID-19) Update
Assessment details are no longer provided here as a result of changes due to the Coronavirus (COVID-19) pandemic.
Students should consult iLearn for revised unit information.
Find out more about the Coronavirus (COVID-19) and potential impacts on staff and students
Late assessment (for the Typed Written Analysis and Case Study) must also be submitted through Turnitin. No extensions will be granted. 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 incurs a 20% penalty). Late submissions will not be accepted after solutions have been discussed and/or made available. This penalty does not apply for cases in which an application for Special Consideration is made and approved. Note: applications for Special Consideration Policy must be made within 5 (five) business days of the due date and time.
Coronavirus (COVID-19) Update
Any references to on-campus delivery below may no longer be relevant due to COVID-19.
Please check here for updated delivery information: https://ask.mq.edu.au/account/pub/display/unit_status
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 Rooms in 4ER 222(E4A 222)
Required and Recommended Texts and/or Materials
Prescribed textbooks:
All students must purchase the prescribed texts.
Recommended textbooks:
The following is not specifically required but may be used for additional reading.
The prescribed and recommended texts can be purchased 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 can directly access the Unit Guide, and the Assessment Guide, the current lecture outlines, Echo 360 recordings, announcements related to the unit, library and other useful websites via the ACCG8124’s i-Learn site.
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. The Lectures will be recorded on Echo 360 on a weekly basis.
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.
Coronavirus (COVID-19) Update
The unit schedule/topics and any references to on-campus delivery below may no longer be relevant due to COVID-19. Please consult iLearn for latest details, and check here for updated delivery information: https://ask.mq.edu.au/account/pub/display/unit_status
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 1 |
02 |
Lecture 2 International aspects of taxation General principles of income Income from personal exertion |
Questions relating to Lecture One |
Week 2 |
03 |
Lecture 3 Income from property Income from business
|
Questions relating to Lecture Two |
Week 3 |
04 |
Lecture 4 Tax Accounting General deductions |
Questions relating to Lecture Three |
Week 4 |
05 |
Lecture 5 Specific deductions Trading stock |
Questions relating to Lecture Four |
Week 5
|
06 |
Lecture 6 Capital allowances and capital works Blackhole expenses Small business concessions Introduction to Capital Gains Tax |
Questions relating to Lecture Five |
Week 6
|
07 |
Lecture 7 Capital Gains tax |
Questions relating to Lecture Six |
Week 7 |
Mid-session break | 13 to 26 April 2020 | ||
08 |
Lecture 8 Goods and Services Tax
|
Questions relating to Lecture Seven |
Week 8
|
09 |
Lecture 9 Trusts Taxation of minors |
Questions relating to Lecture Eight |
Week 9
|
10 |
Lecture 10 Partnerships Superannuation |
Questions relating to Lecture Nine |
Week 10 |
11 |
Lecture 11 Companies
|
Questions relating to Lecture Ten |
Week 11 |
12 |
Lecture 12 Fringe benefits tax
|
Questions relating to Lecture Eleven |
Week 12 |
13 |
Lecture 13 Revision |
Questions relating to Lecture Twelve
|
Week 13
|
14 |
EXAMINATION PERIOD |
Week beginning 08 June 2020 |
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Macquarie University policies and procedures are accessible from Policy Central (https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/policy-central). Students should be aware of the following policies in particular with regard to Learning and Teaching:
Students seeking more policy resources can visit the Student Policy Gateway (https://students.mq.edu.au/support/study/student-policy-gateway). It is your one-stop-shop for the key policies you need to know about throughout your undergraduate student journey.
If you would like to see all the policies relevant to Learning and Teaching visit Policy Central (https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/policy-central).
Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/study/getting-started/student-conduct
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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 help you improve your marks and take control of your study.
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Students with a disability are encouraged to contact the Disability Service who can provide appropriate help with any issues that arise during their studies.
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