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
Moderator
Catriona Lavermicocca
Teacher's Assistant
Charmaine D'Souza
Contact via accg3020@mq.edu.au
Cissy Zhan
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Credit points |
Credit points
10
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Prerequisites |
Prerequisites
(20cp at 2000 level or above including (BUSL250 or BUSL251 or ACCG2051)) or 40cp in LAW units at 2000 level
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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 introduces students to the tax framework operating in Australia. It looks at the regulatory environment and the impact of the conceptual framework on key areas of taxation including income tax; goods and services tax; and fringe benefits tax. After completing this unit, students will be able to recognise, describe and analyse taxation issues and apply tax concepts to problems encountered in a contemporary setting. |
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 Submissions:
Late assessments must also be submitted through Turn-it-in. 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 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
Lectures and Tutorials
The main means of delivery in this unit is by way of 13 two-hour lectures and 12 weekly tutorials of one hour duration. Lectures cover the basic material as outlined in the schedule of listed topics. The lectures also note where each topic in the schedule fits into the overall framework of the tax regime.
The timetable for classes can be found on the University's website at: http://www.timetables.mq.edu.au
Each week’s lecture outlines (PowerPoint slides) will be posted on iLearn prior to the formal lecture. They are not intended to be a substitute for lecture attendance. These outlines are only core notes and they are NOT intended to be treated as stand-alone resources nor in place of lecture attendance. They cannot be relied upon to the exclusion of the allocated reading tasks for each week. You are expected to prepare your own notes from the reading plan set out in the unit's Assessment Guide to supplement the material set out in the lecture outlines.
The Lectures will also be recorded on Echo 360 on a weekly basis.
The tutorial questions are to be found in the unit’s Assessment Guide.
Tutorials 2-13 form the basis of the exercises in Assessment Task 1
Questions in Tutorials 2-13 have been designed to provide a practical application of the principles discussed in lectures. Tutorials will involve an analysis and discussion of pre-set questions based on the previous week’s lecture. They therefore complement and consolidate the topics covered in lectures. It is essential that adequate preparation be undertaken BEFORE each tutorial in order for the full benefit to be gained.
Students will also be expected to participate in tutorials through the submission of hand-written responses to tutorial questions, the contribution to class discussions through formal presentations during tutorials, and showing an interest in other learning activities conducted by the tutor.
Special Note for Students Enrolled in the i-Lecture stream: Students enrolled in the i-Lecture stream are expected to attend the weekly tutorials and to participate in completing the Assessed Coursework components of this unit.
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 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 consultation hours. In special circumstances, an appointment may be made outside regular consultation hours.
Tutor consultation sessions will be held in the Consultation Rooms in 4ER 222 (E4A 222)
Required and Recommended Texts and/or Materials
There are a number of general texts covering the content of this unit. Students are advised to acquire each of the texts appearing under the heading "PRESCRIBED TEXTS".
PRESCRIBED TEXTS (Students should have access to these books AT ALL TIMES).
RECOMMENDED TEXTBOOKS
The acquisitions of the following are OPTIONAL. Students should consult the lecturer before making a purchase from books in this category.
Any of the following books may also be of use:
NOTE: It is pointless having an out of date edition of the textbook.
USEFUL WEBSITES:
Internet resources are a very valuable source of information relating to current developments on taxation issues.
One of the sites that you will find useful is the Australian Taxation Office website www.ato.gov.au. This site offers access to:
ADDITIONAL RESOURCES
The University Library has numerous resources relating to taxation law, however, you may find particularly useful the online resources 'Tax' resources available through the Library databases, such as 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.
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 | Topic |
1 |
Operating Framework of the Australian Taxation System:
Tax Administration:
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2 |
The Concept of Income:
Calculation of Tax Payable:
Tax Collection Mechanisms |
3 |
The Income Concept: Incidental Issues
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4 |
Assessable Income I
Online Quiz - due: mid-week of Week 4 |
5 |
Assessable Income II
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6 |
Statutory Income
Revision: How Topics 1-6 fit together |
7 |
Allowable Deductions I:
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Mid-Session Break: 14 April - 26 April | |
8 |
Allowable Deductions II
Important Notice: The Take-home Case Study will be posted on iLearn at 14:00 on Thursday 30 April 2020. |
9 |
Goods and Services Tax
Important Notice: Written responses to the Take-home Case Study is due at 15:00 on Monday 4 May 2020 and must be submitted via Turn-it-in on this unit's iLearn facility |
10 | Taxation of Partnerships, Trust Estates and Beneficiaries, Minors |
11 |
Companies
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12 |
Fringe Benefits Tax
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13 |
Anti-Avoidance Legislation
REVISION |
FINAL EXAMINATION PERIOD: 9 June - 26 June 2020 | |
SUPPLEMENTARY EXAMINATION PERIOD: Mid - Late July 2020 (TBC) |
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