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.

Delivery Format and Other Details:

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.The precorded lecture will be posted on a Monday, Wednesday and Friday.

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 day’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.t imetables.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

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:

• Woellner, Barkoczy, Murphy, Evans and Pinto, Australian Taxation Law (31st edn, Oxford University Press 2021)
• Sadiq, Australian Taxation Law Cases (Thomson Reuters, 2022)
• S Barkoczy, Australian Tax Casebook (15th edn, Oxford University Press, 2020).
• Workbook: LJ Nethercott, L. Gonzaga and K Devos, Australian Taxation Study Manual, Questions and Suggested Solutions (30th edn, Oxford University Press, 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.

1. 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.

1. Useful Internet sites: Internet resources are a very valuable source of information relating to current developments on taxation issues. Some useful sites include:
   1. ATO website: The Australian Taxation Office Internet site www.ato.gov.au . This site offer access to:

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

1. 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.charteredaccountantsan z.com/.

This site contains relevant information including policy submissions canvassing tax reform

Tax Law Journal reference list.

Professional Text Guide

• • 2022 Australian Master Tax Guide (CCH), 70th ed
  • 2022 Australian Tax Handbook (Thomson Reuters)
  • 2022 Australian Master GST Guide (CCH)
  • 2022 Australian GST Handbook (Thomson Reuters)

Unit Schedule

Topic

Lecture 1 (12.12.22)

The sources of tax law

Tax formula, tax rates and tax offsets Tax administration

Lecture 2 (14.12.22)

General principles of income ordinary and statutory income, exempt income, assessable non-exempt income Residence and Source

Lecture 3 (16.12.22)

Income from Business

Income from Property

Lecture 4 (19.12.22)

General Deductions

Lecture 5 (21.12.22)

Specific Deductions

Mid-Session Break (22 December 2022 to 2 January 2023)

Lecture 6 (04.01.23)

Statutory Income-Capital Gains Tax

Lecture 7 (06.01.23)

Fringe Benefits Tax Goods and Services Tax

Lecture 8 (09.01.23)

Principles of Compensation

Lecture 9 (11.01.23)

Trading Stock and Tax Accounting

Lecture 10 (13.01.23)

Business Entities Sole Trader and Partnership

Lecture 11 (16.01.23)

Taxation of Companies and Shareholders

Lecture 12 (18.01.23)

Trusts and Beneficiaries; International Taxation

Lecture 13 (20.01.23)

Tax Avoidance and Tax Administration

REVISION