Students

ACCG3020 – Taxation Law and Practice

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 Moderator
Catriona Lavermicocca
Teacher's Assistant
Charmaine D'Souza
Contact via accg3020@mq.edu.au
Cissy Zhan
Credit points Credit points
10
Prerequisites Prerequisites
(20cp at 2000 level or above including (BUSL250 or BUSL251 or ACCG2051)) or 40cp in LAW units at 2000 level
Corequisites Corequisites
Co-badged status Co-badged status
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.

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 tax issues and apply the provisions of relevant tax legislation to real-life situations
  • ULO2: Develop a suitable set of tax management strategies for a variety of taxpayers
  • ULO3: Present, evaluate and use numerical and statistical information related to taxation
  • ULO4: Apply research skills to source and interrogate tax law materials and interpret complex legal information
  • ULO5: Produce professionally written tax advice which presents a clear and well supported justification of guidance given

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 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.

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

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).

 

  • Textbook: Woellner, Barkoczy, Murphy, Evans and Pinto, Australian Taxation Law (30th Edition, 2020 Oxford University Press) - cited throughout in the Assessment Guide as 'Woellner' 

 

  • Workbook: LJ Nethercott, L. Gonzaga and K Devos, Australian Taxation Study Manual, Questions and Suggested Solutions (29th edn, 2019 Oxford University Press)

 

  • Casebook: Sadiq, Australian Taxation Law Cases (Thomson Reuters, 2020)           

 

  • Legislation: Barkoczy, 2020 Core Tax Legislation and Study Guide, (23rd Edition, Oxford University Press 2020)

 

 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:

 

  • Sadiq (Gen. Ed.), Colemant, Jogarajan, Krever, McLaren, Obst, and Ting, Principles of Taxation Law (Thomson Reuters, 2020)

 

  • Barkoczy, Australian Tax Casebook (14th edn, Oxford University Press, 2019)

 

  • Australian Master Tax Guide 2020, (65th Edition, CCH)

 

  • Australian Tax Handbook 2020, (Thomson Reuters)

      

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:

  • all ATO rulings and other pronouncements
  • current ATO publications
  • Australian tax case law
  • all ATO forms

 

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.

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 Topic
1

Operating Framework of the Australian Taxation System:

  • Constitutional basis of Taxation - relationship between the Commonwealth and the States;
  • Sources of income tax law;
  • Structure of the income tax legislation and how the parts fit together

Tax Administration:

  • operation and enforcement of the Act and ancillary legislation
  • the assessment process; appeal procedures;
  • rights and remedies of the Commissioner and taxpayer;
  • tax agents.
2

The Concept of Income:

  • distinction between "income" and "capital"
  • exempt income

Calculation of Tax Payable:

  • Formulas, Rates & Offsets

Tax Collection Mechanisms

3

The Income Concept: Incidental Issues

  • residence and source
  • derivation of income
4

Assessable Income I

  • Income according to ordinary concepts
  • statutory extensions to the concept of income

 

Online Quiz - due: mid-week of Week 4

5

Assessable Income II

  • Income according to ordinary concepts
  • statutory extensions to the concept of income
6

Statutory Income

  • Taxation of capital gains and losses
  • calculation of capital gains and losses
  • inter-relationship with the income taxing provisions

 

Revision: How Topics 1-6 fit together

7

Allowable Deductions I:

  • The general deduction provision
  • Substantiation of expenses
  Mid-Session Break: 14 April - 26 April
8

Allowable Deductions II

  • Specific Provisions relating to deductions

 

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

  • Issues related to corporate taxation
  • Dividends and shares, the imputation system
12

Fringe Benefits Tax

  • The tax and its applications in practice
13

Anti-Avoidance Legislation

  • Alienation of Personal Services Income
  • Basic techniques of tax planning
  • Ethical Issues in tax practice

 

REVISION

  FINAL EXAMINATION PERIOD: 9 June - 26 June 2020
  SUPPLEMENTARY EXAMINATION PERIOD: Mid - Late July 2020 (TBC)

 

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.