Students

ACCG3020 – Taxation Law and Practice

2023 – Session 1, In person-scheduled-weekday, North Ryde

General Information

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Unit convenor and teaching staff Unit convenor and teaching staff Unit Convenor and Lecturer
Daisy Chen
hua.chen@mq.edu.au
See Consultation Schedule on iLearn
Tutor
Jerry Loo
jerry.loo@mq.edu.au
Contact via email
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 including international tax transactions
  • ULO3: Present, evaluate and use numerical and statistical information related to taxation including the use of accounting software
  • 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

General Assessment Information

Late Assessment Submission Penalty (written assessments)   

Unless a Special Consideration request has been submitted and approved, a 5% penalty (of the total possible mark) will be applied each day a written assessment is not submitted, up until the 7th day (including weekends). After the 7th day, a grade of ‘0’ will be awarded even if the assessment is submitted. Submission time for all written assessments is set at 11.55pm. A 1-hour grace period is provided to students who experience a technical concern.   

For any late submissions of time-sensitive tasks, such as scheduled tests/exams, performance assessments/presentations, and/or scheduled practical assessments/labs, students need to submit an application for Special Consideration. 

Assessment Tasks

Name Weighting Hurdle Due
Assessed Coursework 10% No Throughout
Online Quiz 10% No Week 5
Case study 20% No Week 9
Final Examination 60% No University Examination Period

Assessed Coursework

Assessment Type 1: Participatory task
Indicative Time on Task 2: 15 hours
Due: Throughout
Weighting: 10%

The Assessed Coursework Task (10%) is comprised of two tasks: 5% for individual presentations to assigned Tutorial questions during Zoom Tutorial sessions. The other 5% is awarded for a Reflection Report (500-600 words) due in week 11 online via Turn-it-in.
On successful completion you will be able to:
  • Identify tax issues and apply the provisions of relevant tax legislation to real-life situations
  • Develop a suitable set of tax management strategies for a variety of taxpayers including international tax transactions
  • Present, evaluate and use numerical and statistical information related to taxation including the use of accounting software
  • Apply research skills to source and interrogate tax law materials and interpret complex legal information

Online Quiz

Assessment Type 1: Quiz/Test
Indicative Time on Task 2: 10 hours
Due: Week 5
Weighting: 10%

The Online Quiz will consolidate students’ knowledge, skills, and capabilities in relation to the foundation principles of tax law and practice.
On successful completion you will be able to:
  • Identify tax issues and apply the provisions of relevant tax legislation to real-life situations
  • Present, evaluate and use numerical and statistical information related to taxation including the use of accounting software

Case study

Assessment Type 1: Case study/analysis
Indicative Time on Task 2: 30 hours
Due: Week 9
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.
On successful completion you will be able to:
  • Identify tax issues and apply the provisions of relevant tax legislation to real-life situations
  • Develop a suitable set of tax management strategies for a variety of taxpayers including international tax transactions
  • Present, evaluate and use numerical and statistical information related to taxation including the use of accounting software
  • Apply research skills to source and interrogate tax law materials and interpret complex legal information
  • Produce professionally written tax advice which presents a clear and well supported justification of guidance given

Final Examination

Assessment Type 1: Examination
Indicative Time on Task 2: 30 hours
Due: University Examination Period
Weighting: 60%

 

A two-hour examination (open book) will be held during the University Examination period.

 
On successful completion you will be able to:
  • Identify tax issues and apply the provisions of relevant tax legislation to real-life situations
  • Develop a suitable set of tax management strategies for a variety of taxpayers including international tax transactions
  • Present, evaluate and use numerical and statistical information related to taxation including the use of accounting software
  • Apply research skills to source and interrogate tax law materials and interpret complex legal information

1 If you need help with your assignment, please contact:

  • the academic teaching staff in your unit for guidance in understanding or completing this type of assessment
  • the Writing Centre for academic skills support.

2 Indicative time-on-task is an estimate of the time required for completion of the assessment task and is subject to individual variation

Delivery and Resources

Refer to iLearn for details of delivery. 

Unit Schedule

Week

Lecture

Presentation

Assessment Due

01

Lecture 1 

The Australian taxation system and tax formula

No presentations

 

02

Lecture 2 

International aspects of taxation 

General principles of income

 

Questions relating to Lecture One

 

03

Lecture 3 

Income from personal exertion

Income from property

Income from business

 

Questions relating to Lecture Two 

04

Lecture 4 

Tax Accounting

General deductions

Questions relating to Lecture Three

 

05

Lecture 5 

Specific deductions

Trading stock

Questions relating to Lecture Four

Online quiz 

06

Lecture 6

Capital allowances and capital works

Blackhole expenses

Small business concessions

 

Questions relating to Lecture Five

 

 

 

 
07

Lecture 7

Capital Gain tax 

 Questions relating to Lecture Six 

 
       

08

Lecture 8 

Goods and Services Tax

 

Questions relating to Lecture Seven

 

 

 

 

09

Lecture 9

Taxation of individuals

Questions relating to Lecture Eight

 

Case study 

 

10

Lecture 10 

Taxation of partnerships, trusts and 

superannuation 

Questions relating to Lecture Nine

 

11

Lecture 11

Taxation of companies

 

Questions relating to Lecture Ten

 

12

Lecture 12

Fringe benefits tax

Ethics, tax avoidance and evasion 

 

Questions relating to Lecture Eleven

 

13

Lecture 13                               

Revision

 

Questions  relating to Lecture Twelve

 

 

 

14

EXAMINATION PERIOD

 

Policies and Procedures

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.

Student Code of Conduct

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

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

Academic Integrity

At Macquarie, we believe academic integrity – honesty, respect, trust, responsibility, fairness and courage – is at the core of learning, teaching and research. We recognise that meeting the expectations required to complete your assessments can be challenging. So, we offer you a range of resources and services to help you reach your potential, including free online writing and maths support, academic skills development and wellbeing consultations.

Student Support

Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/

The Writing Centre

The Writing Centre provides resources to develop your English language proficiency, academic writing, and communication skills.

The Library provides online and face to face support to help you find and use relevant information resources. 

Student Services and Support

Macquarie University offers a range of Student Support Services including:

Student Enquiries

Got a question? Ask us via AskMQ, or contact Service Connect.

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.

Changes since First Published

Date Description
09/02/2023 Faculty level changes made.

Unit information based on version 2023.04 of the Handbook