Students

ACCG924 – Taxation Law

2019 – S2 Evening

General Information

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Unit convenor and teaching staff Unit convenor and teaching staff Unit Convenor & Lecturer
Daisy Chen
Lecturer
Tom O'Sullivan
Lecturer
Victoria Lakis
Lecturer
Ram Pandey
Moderator
Hope Ashiabor
Credit points Credit points
4
Prerequisites Prerequisites
((ACCG614 or ACCG854) and (admission to MAccg or MAccg(Adv) or MAcc(Prof) or MAcc(CPA) or MAcc(Prof)MCom or MCom or MIntAccg)) or admission to MAdvProfAcc
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. In completing this unit students will apply 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.

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:

  • 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.

General Assessment Information

Turnitin

All text based assessments must be submitted through Turnitin. It is a student’s responsibility to ensure that work is submitted correctly prior to the due date. No hard copies of assessments (other than presentation written analysis) will be accepted and only Turnitin records will be taken as records of submission.

Multiple submissions are available via Turnitin in this unit, prior to the final due date and time of an assessment task and originality reports may be made available to students to view and check their work. Students should note that the system will not immediately produce the similarity score on a second or subsequent submission - it takes approximately 24 hours for the report to be generated. This may be after the due date so students should plan any resubmissions carefully.

Should you have questions about Turnitin or experience issues submitting through the system, you must inform your unit convenor immediately. If the issue is technical in nature you may also lodge a OneHelp Ticket (refer to the IT help page).

It is a student's responsibility to retain a copy of any work submitted. Students must produce these documents upon request. Copies should be retained until the end of the grade appeal period each term. In the event that a student is asked to produce another copy of work submitted and is unable to do so, they may be awarded zero (0) for that particular assessment task.

Assessment Tasks

Name Weighting Hurdle Due
1. Class Participation 10% No In Class
2. Quiz 15% No 26 August 2019 11pm
3. Case Study 25% No 4 October 2019 11pm
4. Final Examination 50% No Examination Period

1. Class Participation

Due: In Class
Weighting: 10%

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. The presentation (worth 5 marks) must not be longer than 7 minutes. Presentations will be marked on the basis of the level of preparation, understanding, accuracy and ability to explain the key issues.

Each student will also be required to submit a typed written analysis (maximum 300 words) of the issues, the law and how to approach solving the question that they have been allocated. This typed written analysis (worth 5 marks) must be submitted in hardcopy to the lecturer in class on the day of the presentation and also via iLearn and turnitin in the section identified as Written Analysis of Presentation Question. This written analysis must not be a repeat of the presentation. It should instead be an explanation of the issues arising from the question, the taxation law relevant to those issues and a suggestion of how the issues can be solved by application of the law. The written analysis should not include calculations or numerical explanations. 

Submission: Must be submitted in hardcopy in your registered seminars and also via iLearn and turnitin.

Extension: No extensions will be granted.

Penalties: Students who have not submitted the task prior to the deadline will be awarded a mark of 0 for the task, except for cases in which an application for special consideration is made and approved.


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.

2. Quiz

Due: 26 August 2019 11pm
Weighting: 15%

Will include 15 multiple choice questions covering topics 1 to 3 and related tutorial questions and will be made available on ilearn on 26 August 2019 at 9am. Results will be provided to students via iLearn.

Submission: Due online 26 August 11pm. Completed via ilearn.

Extension: No extensions will be granted.

Penalties: No extensions will be granted other than in the case of an approved special consideration application.


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

3. Case Study

Due: 4 October 2019 11pm
Weighting: 25%

The case study will cover lecture topics 2 to 7 and related tutorial questions, and is due to be lodged via turnitin and ilearn by 11pm 4 October 2019. The case study will require students to analyse a set of facts concerning a taxpayers circumstances and apply the Australian tax law to arrive at conclusions and advise the taxpayer. Guidelines to marking the case study will be provided on ilearn after the case study marks are returned to students.

Submission: Due on 4 October 2019 at 11pm. Lodged via ilearn and Turnitin.

Extension: No extensions will be granted

Penalties: 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 – 20% penalty). This penalty does not apply for cases in which an application for special consideration is made and approved. No submission will be accepted after solutions have been posted.


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.

4. Final Examination

Due: Examination Period
Weighting: 50%

The final exam is 3 hours plus 10 minutes reading time and held during the formal examination period commencing 11 November 2019. The final exam will cover lecture topics 6 to 12 and related tutorial questions.

University final exam conditions apply.

If a Supplementary Examination is granted as a result of the special consideration process the examination will be scheduled as per the Supplementary Examination timetable of the Faculty of Business and Economics. Please note that the supplementary examination will be of a similar format as the final examination.

 

Materials that may be taken into the exam

You are permitted to take the following materials into the final examination

  • Your own handwritten notes which must be in English.

  • A calculator.

  • Barkoczy, S. Core Tax Legislation and Study Guide 2019. This may be written on, marked up by hand or tagged as you see fit. 

You are NOT permitted to take into the tests or the exam any other items – you are not, for example, allowed to take your textbook Australian Taxation Law into the exam. Similarly, no photocopies are permitted nor any computer downloads or printed output of any type.

 


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.

Delivery and Resources

Classes   

·         The thirteen three-hour seminars will consist of a 2 hour lecture and 1 hour tutorial component each week as detailed later in this unit guide.

·         The timetable for classes can be found on the University web site at:  http://www.timetables.mq.edu.au/

·         Class attendance for this unit is compulsory.

Staff teaching in the unit will be available for individual consultation with students. A timetable of when staff will be available will be posted on the unit’s iLearn site.

Students experiencing significant difficulties with any topic in the unit must seek assistance immediately. You are encouraged to seek help at a time that is convenient to you from a staff member teaching on this unit during their regular consultation hours. In special circumstances, an appointment may be made outside regular consultation hours.  

Lecturer consultation sessions will be run in the Consultation Rooms in 4ER 222(E4A 222)

Required and Recommended Texts and/or Materials

Prescribed textbooks:

  • Woellner, Barkoczy, Murphy, Evans and Pinto   Australian Taxation Law 2019 OUP  29th Edition
  • Barkoczy, S. Core Tax Legislation and Study Guide 2019 OUP.

All students must purchase the prescribed texts.

 

Recommended textbooks:

The following is not specifically required but may be used for additional reading.

  • Australian Master Tax Guide 2019 62th Edition  CCH
  • Nethercott LJ and others Australian Tax Study Manual: Questions and Suggested Solutions 2019 29th  Edition OUP
  • Barkoczy S Australian Tax Casebook 2018 14th  Edition OUP

The prescribed and recommended texts can be purchased from the Macquarie University Co-op Bookshop and are available in the Macquarie Library.

 

Additional Resources: 

The University library has numerous resources relating to taxation law however you may find particularly useful the on-line resources ‘Tax’ resources available through the library databases, specifically CCH-Online.

Additional resources will be made available on the ilearn unit website for you to download and read.

Unit Web Page  

You are required to access a computer and the internet at various times in completing this unit, to download course material available on the learning management system (ilearn) and to complete assessment tasks.. 

Learning and Teaching Activities  

Each week, lecture notes will be placed on i-learn before the class. These notes are only the core notes and they are NOT intended to stand alone nor in place of lecture attendance. They are provided for your convenience. You must also properly construct your own notes based on your own readings and any additional comments, supplements and corrections to these notes which may occur during lectures – and which you MUST attend.

You are not entitled to rely on lecturer provided notes for full study purposes nor as the final indicator of exam content. You are required to and expected to read all text and legislative references and also to take into account comments, additional materials and illustrations and examples which may also be given in lectures.

The three-hour seminars will consist of a 2 hour lecture component and 1 hour tutorial component. It is expected that ALL students have prepared answers to each week’s tutorial questions PRIOR to the seminar.

Workload required for this unit is 150 hours.

 

 

 

Unit Schedule

 

 

Week

Lecture

Presentation

Seminar date

01

Lecture 1

Introduction to taxation law

Tax formula, tax rates and tax offsets

Administrative aspects of taxation

No presentations

Week 1 

02

Lecture 2

International aspects of taxation 

General principles of income

Income from personal exertion

Questions relating to Lecture One

Week 2

03

Lecture 3

Income from property

Income from business

 

Questions relating to Lecture Two

Week 3 

04

Lecture 4

Tax Accounting

General deductions

Questions relating to Lecture Three

Week 4 

05

Lecture 5

Specific deductions

Trading stock

Questions relating to Lecture Four

Week 5 

 

06

Lecture 6

Capital allowances and capital works

Blackhole expenses

Small business concessions

Introduction to Capital Gains Tax

Questions relating to Lecture Five

 

Week 6 

 

 

07

Lecture 7

Capital Gains tax

 

Questions relating to Lecture Six

 

Week 7 

  Mid-session break 16 to 29 September 2019  

08

Lecture 8

Goods and Services Tax

 

Questions relating to Lecture Seven

 

Week 8

 

 

09

Lecture 9

Trusts

Taxation of minors

Questions relating to Lecture Eight

 

Week 9

 

10

Lecture 10

Partnerships

Superannuation 

Questions relating to Lecture Nine

Week 10 

11

Lecture 11

Companies

 

Questions relating to Lecture Ten

Week 11 

12

Lecture 12

Fringe benefits tax

 

Questions relating to Lecture Eleven

Week 12

13

Lecture 13                               

Revision

 

Questions  relating to Lecture Twelve

 

Week 13 

 

14

EXAMINATION PERIOD

Week beginning 11 November 2019

     
     

 

Policies and Procedures

Macquarie University policies and procedures are accessible from Policy Central (https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/policy-central). Students should be aware of the following policies in particular with regard to Learning and Teaching:

Undergraduate students seeking more policy resources can visit the Student Policy Gateway (https://students.mq.edu.au/support/study/student-policy-gateway). It is your one-stop-shop for the key policies you need to know about throughout your undergraduate student journey.

If you would like to see all the policies relevant to Learning and Teaching visit Policy Central (https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/policy-central).

Student Code of Conduct

Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/study/getting-started/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

Student Support

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

Learning Skills

Learning Skills (mq.edu.au/learningskills) provides academic writing resources and study strategies to improve your marks and take control of your study.

Student Services and Support

Students with a disability are encouraged to contact the Disability Service who can provide appropriate help with any issues that arise during their studies.

Student Enquiries

For all student enquiries, visit Student Connect at ask.mq.edu.au

If you are a Global MBA student contact globalmba.support@mq.edu.au

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.

Graduate Capabilities

PG - Capable of Professional and Personal Judgment and Initiative

Our postgraduates will demonstrate a high standard of discernment and common sense in their professional and personal judgment. They will have the ability to make informed choices and decisions that reflect both the nature of their professional work and their personal perspectives.

This graduate capability is supported by:

Learning outcomes

  • 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.

Assessment tasks

  • 1. Class Participation
  • 2. Quiz
  • 3. Case Study
  • 4. Final Examination

PG - Discipline Knowledge and Skills

Our postgraduates will be able to demonstrate a significantly enhanced depth and breadth of knowledge, scholarly understanding, and specific subject content knowledge in their chosen fields.

This graduate capability is supported by:

Learning outcomes

  • 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.

Assessment tasks

  • 1. Class Participation
  • 2. Quiz
  • 3. Case Study
  • 4. Final Examination

PG - Critical, Analytical and Integrative Thinking

Our postgraduates will be capable of utilising and reflecting on prior knowledge and experience, of applying higher level critical thinking skills, and of integrating and synthesising learning and knowledge from a range of sources and environments. A characteristic of this form of thinking is the generation of new, professionally oriented knowledge through personal or group-based critique of practice and theory.

This graduate capability is supported by:

Learning outcomes

  • 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.

Assessment tasks

  • 1. Class Participation
  • 2. Quiz
  • 3. Case Study
  • 4. Final Examination

Changes from Previous Offering

The learning outcomes for the quiz and case study have been revised. 

Research & Practice, Global & Sustainability

This unit addresses global and sustainability issues and the relevant implications in reading materials, assessments and seminar discussions. The unit promotes sustainability by developing a student's ability to research and locate information relating to recent developments in taxation law. Throughout the unit additional references and materials are provided to facilitate research. 

Changes since First Published

Date Description
23/07/2019 Changes in teaching staff