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).

1. Textbook: Woellner, Barkoczy, Murphy, Evans and Pinto, Australian Taxation Law (31st edn, Oxford University Press 2021) - cited throughout this Unit Guide as Woellner'
2. Workbook: LJ Nethercott, L. Gonzaga and K Devos, Australian Taxation Study Manual, Questions and Suggested Solutions (30th edn, Oxford University Press, 2020)
3. Legislation: Barkoczy, 2021 Core Tax Legislation and Study Guide, (24th edition, Oxford University Press 2021)

The ACCG3020 homepage is at: ilearn.mq.edu.au.

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 ACCG3020’s i-Learn site.

Lectures and Tutorials

The main means of presentation 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 listed topics, as well as noting where each topic fits into the overall framework of the tax regime. The Lectures will be recorded on Echo 360 on a weekly basis.

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 set out in this unit's Assessment Guide to supplement the material set out in the lecture outlines.

The Tutorial sessions will be run online via Zoom as well as in face-to-face modes. The Tutorial questions for each week's class are also to be found in the unit's Assessment Guide. 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

• The timetable for classes can be found on the University web site at: http://www.timetables.mq.edu.au/
• Students can only change their allocated lecture or tutorial class in the first three (3) weeks through the e-Student system and only when there is a vacancy in that class.
• If a student changes classes in the first three weeks, it is their responsibility to inform both their old tutor and their new Tutor. Failure to inform Tutors about the change in class allocation may result in a student not obtaining all the class marks for which all students are eligible.
• You must attend your official tutorial class. Tutors will keep attendance records and you can only attend class or sit for the class presentation in your registered tutorial. Please ensure that you know your Tutor’s name and your tutorial class number .
• 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.
• In cases where classes have been missed because of of illness or misadventure, it is up to the student to provide relevant documentation - (such as medical certificates or other reports) - explaining the reasons for their absence. The documentation must be lodged with BESS in accordance with the special consideration application procedure.
• Students are expected to arrive on time and not to leave until the class ends. 
• If you have a recurring problem that makes you late, or compels you to leave early, have the courtesy to discuss this with your lecturer/tutor. 
• Students who disturb or disrupt in lectures and tutorial class will be asked to leave.

Prizes

• The Department of Accounting and Corporate Governance Prize for Taxation Law and Practice is awarded for proficiency in the Sessions 1 and 2 offerings of this unit respectively.
• http://www.businessandeconomics.mq.edu.au/undergraduate_degrees/prizes_scholarships

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.), Coleman, Hanegbi, Hart, Jogarajan, Krever, McLaren, Obst, Ting, Principles of Taxation Law, (Thomson Reuters, 2021).
• Sadiq, Australian Taxation Law Cases (Thomson Reuters, 2021)
• S Barkoczy, Australian Tax Casebook (15th edn, Oxford University Press, 2020).
• Hodgson, Mortimer, and Butler, Tax Questions & Answers 2020 (Thomson Reuters, 2020).

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.

(a) Commentaries: Both CCH and Thomson Reuters provide an on-line service covering a commentary on the relevant legislation, rulings and reports and other pronouncements of the Australian Taxation Office. These on-line tax services are also available in multi-volume loose-leaf formats.

The on-line service of CCH can be accessed from the University Library’s database.

(b) Useful Internet sites:  Internet resources are a very valuable source of information relating to current developments on taxation issues. Some useful sites include:

(i) ATO website: The Australian Taxation Office Internet site www.ato.gov.au . This site offers access to:

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

(ii) Access to other internet sites which are relevant to tax issues can be located at:

• Australian Treasury: http://www.treasury.gov.au. This site contains Treasury press releases and consultation documents.
• CPA Australia: http://www.cpaaustralia.com.au. This site contains relevant information including policy submissions canvassing tax reform.
• Chartered Accountants Australia and New Zealand: https://www.charteredaccountantsanz.com/. This site contains relevant information including policy submissions canvassing tax reform.
• Taxation Institute of Australia: www.taxinstitute.com.au. This site provides useful resources and professional development activities in tax.
• Deloitte: http://www.deloitte.com.au Click on “tax central” to access information on proposed tax reforms.
• Ernst & Young: http://www.ey.com/global/gcr.nsf/austaralia/home. Good for keeping up to date on tax reforms.
• KPMG: http://www.kpmg.com.au. Very useful, especially for its “Daily Tax News”.
• Board of Taxation: http://www.taxboard.gov.au. Contains information on proposed tax changes.

(iii) Cases, rulings, and legislation can also be accessed from the following sites:

• Cases: Scaleplus site http://scaleplus.law.gov.au
• Cases: Australian Legal Information Institute site http://www.austlii.edu.au
• Cases and Taxation rulings: Australian Taxation Office; http://www.ato.gov.au

(c) Professional Reference Texts

• 2020 Australian Master Tax Guide (CCH)
• 2020 Australian Tax Handbook (Thomson Reuters)
• 2020 Australian Master GST Guide (CCH)
• 2020 Australian GST Handbook (Thomson Reuters)

(d) Journals 

Articles in legal and accounting journals are invaluable aids in keeping up to date with developments in tax law and practice.These include:

• Australian Tax Review
• Australian Tax Forum, a journal of taxation policy, law and reform
• Taxation in Australia
• The Tax Specialist
• The Australian Accountant
• The Journal of Australian Taxation
• The Chartered Accountant in Australia
• The Australian Law Journal, it contains a section called "Revenue Notes" which features articles on important decisions.

(e) 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

• 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

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

The concept of income: 

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

• Formulas, Rates & Offsets

• residence and source;
• derivation of income

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

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

Online Quiz - due mid-week of Week 5.

• 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

• The general provision s.8-1
• Substantiation of expenses.

• Specific provisions relating to deductions

Important Notice: The Take-home Case-Study Assignment will be posted on iLearn at the end of this week. The written responses must be submitted at the beginning of week 9 via Turn-it-in on this unit's iLearn facility.   

Please refer to iLearn and to the Assessment Guide for further details.

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

• The tax and its applications in practice

• Alienation of Personal Services Income;
• Basic techniques of tax planning;
• Ethical issues in tax practice;
• REVISION