Units
Taxation Law and Practice
Unit code: AYN438
Contact hours: 3 per week
Credit points: 12
Information about fees and unit costs
This unit introduces students to the statutory framework of the Australian taxation system. Elements in the determination of taxable income and the levying of income tax are examined including general and specific categories of assessable income and allowable deductions, capital gains tax and administration aspects of the tax system. The taxation of fringe benefits is also examined. The unit concludes with a brief overview of the taxation of partnerships, trusts and companies and the goods and services tax. Emphasis is placed on developing students' skills in problem solving through research and analysis of taxation issues.
Availability
| Semester | Available |
|---|---|
| 2013 Semester 1 | Yes |
| 2013 Semester 2 | Yes |
Sample subject outline - Semester 1 2013
Note: Subject outlines often change before the semester begins. Below is a sample outline.
Rationale
As many business decisions involve a consideration of the taxation implications, accountancy graduates should possess a basic knowledge of the Australian taxation system so that they can develop skills required for professional practice. The purpose of this unit is to enable students to develop an understanding of the basic fundamentals of taxation.
Aims
This unit aims to develop students' knowledge and understanding of the Australian income tax legislation. In attaining this aim, students will develop research and analysis skills.
Objectives
Course Learning Goals (Postgraduate)
The QUT Business School has established the Assurance of Learning (AOL) Goals to meet contemporary industry needs and standards. Achieving these learning outcomes will assist you to meet the desired graduate outcomes set at QUT - aligned with other internationally renowned business schools. Students will develop the following capabilities relevant to a contemporary global and sustainable business environment:
Have knowledge and skills pertinent to a particular discipline (KS)
1.1 Well-researched knowledge and critical understanding applied to issues at the forefront of a specialised discipline area
1.2 Ability to select and use effectively a range of tools and technologies to locate and/or generate information appropriate to the disciplinary context
Be critical thinkers and effective problem solvers (CTA)
2.1 Apply logical, critical and creative thinking and judgement to generate appropriate solutions to problems in the disciplinary context
Be professional communicators in an intercultural context (PC)
3.1 Ability to create and present professional documents and/or reports using high levels of analysis/synthesis/evaluation for a range of contexts and audiences
3.2 Ability to orally communicate and justify ideas and information, at a professional level, for a variety of contexts and audiences, including peers and discipline specialists
Be able to work effectively in a Team Environment (TW)
4.1 Operate effectively and with flexibility to achieve common goals in collaborative settings, using a range of skills, including leadership, negotiation, reflection, proactivity and support for team members
Have a Social and Ethical Understanding (SEU)
5.1 Apply knowledge of the ethical, social and cultural dimensions relevant to business situations, including appropriate standards or codes of practice, to provide courses of action
Unit Objectives
On completion of this unit, you should be able to:
1. Describe the relevant sections, cases and principles of Australian income tax law
2. Understand the Australian income tax framework
3. Analyse, discuss and resolve issues relating to taxation law
4. Appreciate the dynamic nature of income tax laws which impact on taxpayers' legal rights and duties
The specific course learning goals and unit objectives that apply to this unit are shown in the assessment section of this unit outline.
Content
The following provides a brief overview of the topics to be covered:
Refer to the AYN438 Week 1 Unit Information document for a more detailed lecture and workshop schedule.
This unit will focus predominantly on Australian taxation law issues. However, in two of the topics (Introduction to Taxation Law and the Goods and Services Tax), we consider overseas jurisdictions.
Approaches to Teaching and Learning
Teaching and learning strategies are designed to facilitate the aims and objectives of the unit. The emphasis in Taxation Law and Practice is to equip students with the necessary skills so as to research and solve tax-related problems.
Whilst the basic content of the unit is similar to the equivalent undergraduate unit, a different approach is taken to the teaching of this unit, and additional issues are covered as appropriate, taking into account the background of participants in the course.
This unit uses the SafeAssign tool in BlackBoard. SafeAssign is a text matching tool that assists students to develop the academic skills required to correctly use and cite reference material as well as to check citations and determine possible instances of plagiarism. You will be expected to submit draft and/or final versions of one or more assignments using SafeAssign. Your Unit Coordinator will provide detailed information on how the software will be used in this unit.
Lectures
Each week the unit is taught as a three-hour block. The three hour block is broken up into a two hour lecture and a one hour workshop, which is held at the conclusion of the lecture. Students are expected to attend (listen to) the two hour lecture and one hour workshop each week.
PowerPoint slides and detailed background lecture notes are provided each week for students. You should download the PowerPoint slides and lecture notes each week from the AYN438 Blackboard site and follow these throughout the lecture. The address is: http://blackboard.qut.edu.au. You can access on-line units using any computer that has Internet access. The QUT Student Computing Guide contains information on how to access and use the computing facilities at QUT.
The PowerPoint slides contain several blank spaces, consisting of lecture examples. The answers will be displayed during the lecture itself, students should not email the lecturer for this information.
All material on the AYN438 Blackboard site will be automatically removed on the day of the final exam for this unit. It is your responsibility to ensure that you have copies of all materials before this date.
Workshops
Workshop questions will accompany each lecture. Students are expected to download the workshop questions from the AYN438 Blackboard site and attempt these prior to the workshop the following week. To reinforce the lecture and to reach full understanding of each topic it is essential for students to keep up with the work by completing the required readings and workshop questions.
Students are expected to engage in online and classroom discussions (including the workshops). Even though the workshops are not worth any marks, they represent an excellent opportunity for students to apply the concepts learnt in the preceding week to practical questions. Feedback gained in workshops will also assist students in identifying the areas they may have misunderstood.
Past experience has indicated that there is a strong correlation between students who fail the unit and students who do not keep up to date with lectures and workshops.
Assessment
The assessment in this unit aims to support your achievement of the learning objectives for both Discipline Knowledge and Other Postgraduate Capabilities. Assessment has been designed in order to allow you to both:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment); and
- demonstrate your learning in order to achieve a final grade (summative assessment).Students will receive feedback in various forms throughout the semester which may include:
- Informal: worked examples, such as verbal feedback in class, personal consultation
- Formal: in writing, such as checklists (e.g. criteria sheets), written commentary
- Direct: to individual students, either in written form or in consultation
- Indirect: to the whole class
Assessment name:
Mid-Semester Exam
Description:
Mid-semester examination comprising 25 multiple-choice questions based on Topics 1 to 5.
It will be an open-book exam with no restriction placed on any books or notes used. The exam will be conducted online, in two parts (one part 35 minutes and the ohter 40 minutes), one after the other. More information on the structure of the exam will be provided closer to the time.
Length/Duration: 75 minutes (no perusal)
Formative or Summative: Both
Relates to objectives:
Unit objectives: 1, 2, 3 and AOL goals: KS (1.1), CTA (2.1), PC (3.1)
Weight:
25%
Internal or external:
Internal
Group or individual:
Individual
Due date:
Week 7
Assessment name:
Group Research Report
Description:
Students are required to form groups of 3 or 4 and provide written taxation advice to a client on a number of tax-related issues. The report should not exceed 1,500 words (maximum) typed and properly referenced.
Length/Duration: Unspecified
Formative or Summative: Both
Relates to objectives:
Unit objectives: 2, 3, 4 and AOL goals: KS (1.1), CTA (2.1), PC (3.1), TW (4.1)
Weight:
25%
Internal or external:
Internal
Group or individual:
Group
Due date:
Week 12
Assessment name:
Final Examination
Description:
Final examination based on the entire semester, with a particular emphasis on Topics 6 to 12. The examination is open book. However students are not permitted to bring a laptop computer, a mobile phone or any electronic materials (such as an electronic dictionary) into the exam.
Length/Duration: 2 hours +15 minutes perusal
Formative or Summative: Summative
Relates to objectives:
Unit objectives: 1, 2, 3 and AOL goals: KS (1.1), CTA (2.1), PC (3.1), TW (4.1)
Weight:
50%
Internal or external:
Internal
Group or individual:
Individual
Due date:
Central Exam Period
Academic Honesty
QUT is committed to maintaining high academic standards to protect the value of its qualifications. To assist you in assuring the academic integrity of your assessment you are encouraged to make use of the support materials and services available to help you consider and check your assessment items. Important information about the university's approach to academic integrity of assessment is on your unit Blackboard site.
A breach of academic integrity is regarded as Student Misconduct and can lead to the imposition of penalties.
Resource materials
Prescribed Texts and Readings
Lecture materials, workshop questions and additional readings are available for students to downland from QUT's Blackboard site. The address is: http://blackboard.qut.edu.au. Students are expected to print off these materials each week prior to attending class. The two prescribed texts for this unit are:
As there have been many notable tax changes since 2012, students are strongly advised to buy the 2013 versions of each book listed above.
Other References
Australian Tax Handbook 2013. (2013). Thomson ATP Publishers. Sydney. NSW .
Barkoczy, S.( 2013). Foundations of Taxation Law. (5th edition). CCH Australia Ltd. Sydney. NSW.
Fisher, R., and Hodgson, H.M. (2012). 'Tax Questions and Answers 2013'. Thomson ATP Publishers.
(2012). Master Tax Examples 2012/13. (11th edition). CCH Australia Ltd. Sydney. NSW.
Nethercott, L., Richardson, G., and Devos, K. ( 2012). 'Australian Taxation Study Manual - Questions and Suggested Solutions'. (22nd edition). CCH Australia Ltd. Sydney. NSW.
Barkoczy, S. (2012). 'Australian Tax casebook. (12th edition). CCH Australia Ltd. Sydney. NSW.
Woellner, R., Vella, T., Burns, L., and Barkoczy. S. (2012). 'Australian Taxation Law'. 24th edition. CCH Australia Ltd.
Useful Tax Web Sites
The internet is a vitally important and excellent source of information for students wishing to obtain the most up to date information in this area where the law is in a constant state of change and development. Some of the most useful tax web sites are:
Australian Taxation Office
http://www.ato.gov.au
Australian Taxation Office (Legal Database)
http://law.ato.gov.au/atolaw/index.htm
CCH Online (Direct Tax Access)
http://library2.cch.com.au/dynaweb/aft/@CCH__CollectionView;cd=2;pf=;cs=default;ts=default
User name: qut1 Password: library
Commonwealth Attorney General's Department
http://scaleplus.law.gov.au
CPA Australia (Taxation)
http://www.cpaaustralia.com.au/cps/rde/xchg/SID-3F57FEDE-3A7F70A4/cpa/hs.xsl/79_ENA_HTML.htm
Deloitte Touche Tohmatsu (Tax Alert)
http://www.deloitte.com/dtt/section_node/0,2332,sid%253D5634,00.htm
Ernst & Young (Tax Insights Library)
http://www.ey.com/global/content.nsf/Australia/Publications_-_Tax
Flinders University Law School
http://commerce.flinders.edu.au/tax
Institute of Chartered Accountants in Australia (Taxation)
http://www.icaa.org.au/tech/index.cfm?menu=289&id=A105252063
KPMG (Daily Tax News)
http://www.kpmg.com.au/Default.aspx?TabID=63&KPMGArticleItemID=307
PricewaterhouseCoopers (Australia - Taxation)
http://www.pwc.com/extweb/service.nsf/docid/D92586025619EDCB8525666600203345
Taxation Institute of Australia
http://www.taxinstitute.com.au/index.cfm
Taxpayers Australia
http://www.taxpayer.com.au/
Taxation Journals
Risk assessment statement
There are no out-of-the-ordinary risks associated with lectures or workshops in this unit. You should, however, familiarise yourself with evacuation procedures operating in the buildings in which you attend classes and take the time to
view the Emergency video.
Disclaimer - Offer of some units is subject to viability, and information in these Unit Outlines is subject to change prior to commencement of semester.
Last modified: 11-Feb-2013
