Students

ACCG8124 – Taxation Law

2020 – Session 1, Weekday attendance, North Ryde

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

General Information

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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
Credit points Credit points
10
Prerequisites Prerequisites
(ACCG614 or ACCG6014) and admission to MAccg or MAccLead or MAccg(Adv) or MProfAcc or MProfAccgLead
Corequisites Corequisites
Co-badged status Co-badged status
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.

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:

  • ULO1: Identify, analyse and apply the law relating to income tax and determine a particular taxpayer's final income tax liability.
  • ULO2: Identify, analyse and apply the law relating to GST and FBT and determine a particular taxpayer's GST and FBT liability.
  • ULO3: Explain the relevant tax laws and related legal precedents and apply them to a problem or fact situation.
  • ULO4: Present verbally and in writing conclusions as to the tax implications arising from a particular set of facts.

Assessment Tasks

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

General Assessment Information

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.

Delivery and Resources

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:

  • Woellner, Barkoczy, Murphy, Evans and Pinto   Australian Taxation Law 2020 OUP  30th Edition
  • Barkoczy, S. Core Tax Legislation and Study Guide 2020 OUP.

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 2020 66th Edition  CCH
  • Nethercott LJ and others Australian Tax Study Manual: Questions and Suggested Solutions 2019 29th  Edition OUP
  • Barkoczy S Australian Tax Casebook 2019 15th  Edition OUP

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.

Unit Schedule

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

     

Policies and Procedures

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).

Student Code of Conduct

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​

Results

Results published on platform other than eStudent, (eg. iLearn, Coursera etc.) 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 or if you are a Global MBA student contact globalmba.support@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 help you improve your marks and take control of your study.

The Library provides online and face to face support to help you find and use relevant information resources. 

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

If you are a Global MBA student contact globalmba.support@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.