Students

ACCG8124 – Taxation Law

2024 – 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
Nick Park
nick.park@mq.edu.au
Moderator
Rahat Munir
rahat.munir@mq.edu.au
Credit points Credit points
10
Prerequisites Prerequisites
(ACCG614 or ACCG6014) and admission to GradDipAccgPrac or 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

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 apply 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

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

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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 connect.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 the Service Connect Portal, 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
28/07/2024 The moderator role has been updated to Professor Rahat Munir.

Unit information based on version 2024.02 of the Handbook