Students
ACCG8124 – Taxation Law
2023 – Session 2, 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
Nick Park
|
|---|---|
| Credit points |
Credit points
10
|
| Prerequisites |
Prerequisites
(ACCG614 or ACCG6014) and admission to MAccg or MAccLead or MAccg(Adv) or MProfAcc or MProfAccgLead
|
| Corequisites |
Corequisites
|
| Co-badged status |
Co-badged status
|
| Unit description |
Unit description
This unit examines the laws relating to income tax (including the taxation of capital gains), fringe benefits tax and the goods and services tax in Australia and their application to determine a particular entity’s tax liability. In completing this unit, students will be able to identify, explain, analyse and apply relevant tax legislation, case law and rulings to a variety of fact situations, making conclusions and recommendations. In addition, the tax issues specific to individuals, partnerships, trusts and companies are considered and compared. Specifically, students can identify, analyse and apply the law relating to income tax and determine a particular taxpayer's final income tax liability; identify, analyse and apply the law relating to GST and FBT and determine a particular taxpayer's GST and FBT liability; explain the relevant tax laws and related legal precedents and apply them to a problem or fact situation; present verbally and in writing conclusions as to the tax implications arising from a particular set of facts. |
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, analyse and apply the law relating to income tax and determine a particular taxpayer's final income tax liability.
- ULO2: Identify, analyse and apply the law relating to GST and FBT and determine a particular taxpayer's GST and FBT liability.
- ULO3: Explain the relevant tax laws and related legal precedents and apply them to a problem or fact situation.
- ULO4: Present verbally and in writing conclusions as to the tax implications arising from a particular set of facts.
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 |
|---|---|---|---|
| Class Participation | 5% | No | Throughout |
| Quiz | 15% | No | Week 5 |
| Case study | 30% | No | Week 9 |
| Final Examination | 50% | No | University Examination Period |
Class Participation
Assessment Type 1: Presentation
Indicative Time on Task 2: 2 hours
Due: Throughout
Weighting: 5%
Requires students to make an oral and written presentation. Each student will be allocated a question and will be required to give one oral presentation analysing and answering the issues in the question. Presentations will be marked on the basis of the level of preparation, understanding, accuracy and ability to explain the key issues.
On successful completion you will be able to:
- Identify, analyse and apply the law relating to income tax and determine a particular taxpayer's final income tax liability.
- Identify, analyse and apply the law relating to GST and FBT and determine a particular taxpayer's GST and FBT liability.
- Explain the relevant tax laws and related legal precedents and apply them to a problem or fact situation.
- Present verbally and in writing conclusions as to the tax implications arising from a particular set of facts.
Quiz
Assessment Type 1: Quiz/Test
Indicative Time on Task 2: 6 hours
Due: Week 5
Weighting: 15%
This diagnostic quiz 1 will cover topics 1 to 3 and related tutorial questions. The quiz is designed to provide feedback as to the student’s understanding of key topics and to identify any particular learning challenges or areas of difficulty prior to the later assessment tasks.
On successful completion you will be able to:
- Identify, analyse and apply the law relating to income tax and determine a particular taxpayer's final income tax liability.
Case study
Assessment Type 1: Report
Indicative Time on Task 2: 31 hours
Due: Week 9
Weighting: 30%
- Business report (25%) Students are required to write a 2,000 word business report that analyses a set of facts concerning a taxpayer’s circumstances and apply the Australian tax law to arrive a conclusion in form of a piece of advice.
- Reflection report on Forage internship case study (5%) In addition to submitting a screenshot of the completion certificate from the selected Forage virtual experience program, students are required to submit a reflection report (500 words) about their experience with participating in the virtual experience program.
On successful completion you will be able to:
- Identify, analyse and apply the law relating to income tax and determine a particular taxpayer's final income tax liability.
- Explain the relevant tax laws and related legal precedents and apply them to a problem or fact situation.
- Present verbally and in writing conclusions as to the tax implications arising from a particular set of facts.
Final Examination
Assessment Type 1: Examination
Indicative Time on Task 2: 21 hours
Due: University Examination Period
Weighting: 50%
A two-hour examination will be held during the University Examination period.
On successful completion you will be able to:
- Identify, analyse and apply the law relating to income tax and determine a particular taxpayer's final income tax liability.
- Identify, analyse and apply the law relating to GST and FBT and determine a particular taxpayer's GST and FBT liability.
- Explain the relevant tax laws and related legal precedents and apply them to a problem or fact situation.
- Present verbally and in writing conclusions as to the tax implications arising from a particular set of facts.
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 |
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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 |
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| 07 |
Lecture 7 Capital Gain tax |
Questions relating to Lecture Six |
|
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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 |
|
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11 |
Lecture 11 Taxation of companies
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Questions relating to Lecture Ten |
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12 |
Lecture 12 Fringe benefits tax Ethics, tax avoidance and evasion
|
Questions relating to Lecture Eleven |
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13 |
Lecture 13 Revision |
Questions relating to Lecture Twelve
|
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14 |
EXAMINATION PERIOD |
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Results
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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.
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- Workshops
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Unit information based on version 2023.04 of the Handbook