Session 2 Learning and Teaching Update
The decision has been made to conduct study online for the remainder of Session 2 for all units WITHOUT mandatory on-campus learning activities. Exams for Session 2 will also be online where possible to do so.
This is due to the extension of the lockdown orders and to provide certainty around arrangements for the remainder of Session 2. We hope to return to campus beyond Session 2 as soon as it is safe and appropriate to do so.
Some classes/teaching activities cannot be moved online and must be taught on campus. You should already know if you are in one of these classes/teaching activities and your unit convenor will provide you with more information via iLearn. If you want to confirm, see the list of units with mandatory on-campus classes/teaching activities.
Visit the MQ COVID-19 information page for more detail.
Unit convenor and teaching staff |
Unit convenor and teaching staff
Unit convenor
Daisy Chen
Contact via Contact via ACCG3020@mq.edu.au
Please see iLearn
Moderator
Rahat Munir
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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:
General Assessment Information
Late Submissions:
Late assessments (for the Case Study and reflection report)) 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.
Name | Weighting | Hurdle | Due |
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Assessed Coursework | 10% | No | Twice Weekly |
Online Quiz | 10% | No | Friday, 10 December 2021 at 11pm |
Case study | 20% | No | Friday, 7 January 2022 at 3pm |
Final Examination | 60% | No | University Examination Period |
Assessment Type 1: Participatory task
Indicative Time on Task 2: 15 hours
Due: Twice Weekly
Weighting: 10%
During the session, weekly tutorial questions will be assessed. Students are expected to make a reasonable attempt at completing the weekly assigned tutorial questions.
Assessment Type 1: Quiz/Test
Indicative Time on Task 2: 10 hours
Due: Friday, 10 December 2021 at 11pm
Weighting: 10%
The Online Quiz will consolidate students’ knowledge, skills, and capabilities in relation to the foundation principles of tax law and practice.
Assessment Type 1: Case study/analysis
Indicative Time on Task 2: 30 hours
Due: Friday, 7 January 2022 at 3pm
Weighting: 20%
Students will be presented with a set of facts which will require them to identify the main tax issue(s), provide a detailed analysis of the tax issues, and apply relevant taxation laws to arrive at a conclusion in the form of a piece of advice. Students are required to communicate their professional tax advice via a 1500-word report.
Assessment Type 1: Examination
Indicative Time on Task 2: 30 hours
Due: University Examination Period
Weighting: 60%
A three-hour open book exam will be held during the University Examination Period.
1 If you need help with your assignment, please contact:
2 Indicative time-on-task is an estimate of the time required for completion of the assessment task and is subject to individual variation
Required Text: |
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 must have access to these books AT ALL TIMES).
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Unit Web Page: |
The ACCG3020 homepage is at: ilearn.mq.edu.au.
You can directly access the Unit Guide, the current lecture outlines, Zoom recordings, announcements related to the unit, library and other useful websites via the ACCG3020’s i-Learn site. |
Technology Used and Required: |
Students will need access to the internet as lecture handouts and notices will be available from the unit’s web page. |
Delivery Format and Other Details: |
Lectures and Tutorials The main means of presentation is by way of 10 two-hour lectures and 9 weekly tutorials of one hour duration. Lectures cover the basic material as outlined in the listed topics, as well as noting where each topic fits into the overall framework of the tax regime. The Lectures will be run online via Zoom and the Zoom recording will be posting on iLearn after the live session. Each week’s lecture outlines (PowerPoint slides) will also be posted on i-Learn 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 are provided for your convenience. You cannot rely on these outlines to the exclusion of the allocated reading tasks for each week. You are expected to prepare your own notes from the prescribed reading. The Tutorial sessions will be run online via Zoom. The Tutorial questions for each week's class are also to be found on iLearn site. The tutorial questions have been designed to provide a practical application of the principles discussed in lectures. Tutorials will involve an analysis and discussion of preset 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. Attendance and participation in Tutorials are compulsory. Students - (including those enrolled in the i-Lecture stream) - will therefore be expected to attend and to participate in tutorials through, contributions to class discussions, formal presentations during tutorials, and showing an interest in other learning activities conducted by the Tutor. Classes
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Recommended Readings: |
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. REFERENCE MATERIALS While references to the prescribed weekly readings for this Unit are set from standard textbooks on taxation, references will also be made during the lectures to reported cases, rulings and other pronouncements issued by the Australian Taxation Office.
Useful Internet sites: Internet resources are a very valuable source of information relating to current developments on taxation issues. Some useful sites include:
Access to other internet sites which are relevant to tax issues can be located at:
Professional Reference Texts
Journals
Update on Tax Developments For a weekly update on tax developments, students are advised to consult either CCH Tax Week or the Thomson Reuters Weekly Tax Bulletin; the former can be accessed from the University Library’s database |
Unit Schedule
Topic
Lecture 1 (29/11/2021)
The sources of tax law
Tax formula, tax rates and tax offsets
Tax administration
International aspect of taxation
Lecture 2 (1/12/2021)
General principles of income
Income from personal exertion
Lecture 3 (06/12/2021)
Income from Business
Income from Property
Lecute 4 (8/12/2021)
General Deductions
Lecture 5 (13/12/2021)
Specific Deductions
Capital Allowances
Lecture 6 (15/12/2021)
Statutory Income
Mid-Session Break (20 December 2021 to 2 January 2022)
Lecture 7 (03/01/2022)
Fringe Benefits Tax
Goods and Services Tax
Lecture 8 (5/01/2022)
Principles of Compensation
Trading Stock
Lecture 9 (10/01/2022)
Partnerships
Companies
Lecture 10 (12/01/2022),
Trust Estates and Beneficiaries, minors
Anti-Avoidance Legislation
REVISION
Macquarie University policies and procedures are accessible from Policy Central (https://policies.mq.edu.au). Students should be aware of the following policies in particular with regard to Learning and Teaching:
Students seeking more policy resources can visit Student Policies (https://students.mq.edu.au/support/study/policies). It is your one-stop-shop for the key policies you need to know about throughout your undergraduate student journey.
To find other policies relating to Teaching and Learning, visit Policy Central (https://policies.mq.edu.au) and use the search tool.
Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/admin/other-resources/student-conduct
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
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.
The Library provides online and face to face support to help you find and use relevant information resources.
Students with a disability are encouraged to contact the Disability Service who can provide appropriate help with any issues that arise during their studies.
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
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.
Unit information based on version 2021.02 of the Handbook