This course provides a foundation in Australian Taxation Law. It covers the main concepts of income taxation in Australia, such as residence and source, tax accounting, general and statutory income, capital gains tax, general and specific deductions, taxation of entities such as partnerships, trusts and companies, international tax and tax avoidance.
Course Content
- Basis of liability to Australian income tax receipts of residence and source of income
- Derivation of income (year of income) tax accounting
- Derivation of income (taxpayer who derives income)
- Alienation of income: income concepts, general law concepts and statutory concepts
- Exempt income
- Capital gains
- Fringe benefits
- Allowable deductions
- General formula for losses and outgoings
- Specific items
- Depreciation
- Trading stock
- Partnerships
- Companies and taxation
- Losses – current year and previous year
- Trusts and income of minors
- Assessments, amendments, objections and appeals
- Commissioner’s powers
Course Delivery
Lecture based with interactive workshops.
Course Outcomes
Students will expand their knowledge and skills to:
- formulate and develop persuasive arguments that can be applied to business problems
- discover the relevance of taxation considerations in commercial problems
- think critically about underlying theories, concepts, assumptions and arguments
- apply principles, techniques and technologies to data and information
- communicate effectively in verbal, written and group contexts.
Suitable for
The Accounting Continuing Education Program (ACEP) courses are especially designed for those who:
- want to qualify for membership of Certified Practising Accountant (CPA) Australia or The Institute of Chartered Accountants in Australia (ICAA)
- have overseas accounting qualifications
- want to broaden or update their knowledge or accounting and law
- need a conversion course to qualify for associate membership of CPA Australia
This course is particularly suitable for people who intend to pursue a career in tax and is a gateway unit for further study in tax.
If you are enrolling in the Accounting Continuing Education Program in order to quality for membership or associate membership of CPA Australia or the ICAA, you should contact them first and arrange to have your qualification assessed.
CPA Australia: (02) 9375 6200
ICAC: (02) 9290 1344
Please ensure that you contact the relevant association prior to enrolling to confirm which courses you need to take in order to qualify for membership of associate membership.
We regret that we are not able to provide advice about which courses you need to take to satisfy membership requirements of professional associations.
Before the course
Students are expected to have a basic knowledge of accounting and commercial law concepts, as well as English language proficiency.
Assessment
The final result is based on a combination of assignments, group presentations, test and final exam. On successful completion of all elements, students receive a Certificate of Attainment.
Final result summary
Class participation: 10%
Mid-semester test: 20%
Group essay and presentation: 20%
Final Exam: 50%
Please note that students must achieve a 50% result in all components, including the final exam, to pass the course.
Students are expected to complete all relevant reading and prepare lecture questions on an individual basis prior to attending the lecture. Students will be expected to actively participate in class discussion on the set questions. Lectures are the key learning platform in this course because developing the relevant skills requires the interactive format provided by this style of lecture. Lecture preparation and contribution is a key element of the learning experience where answers to lecture case questions are not easily bracketed as ‘right’ or ‘wrong’ but are the product of a logical and well structured analysis. Since students are being trained to give advice a definite answer must be given to each problem. A poor attendance record at lectures in the past has resulted in students not performing well in the course.
The University understands that unanticipated situations can arise during the year that may prevent you from submitting an assignment late or attending an exam. Please refer to the Special Consideration Application Form for further information.
You will be advised in writing of the outcomes of all assignments and the date of the final exam.
Reading
University Library Facilities:
Candidates may consult books and journals in any of the University’s libraries. Some students may have reciprocal borrowing rights from other universities. Please call 9351 2265 for verification.
Prescribed Texts:
- R. Deutsch, et al, Fundamental Tax Legislation, 2012 Thompson
- C. Coleman, G. Hart, et al, Principles of Taxation Law, 2012 Thomson
- C. Coleman, et al, Australian Tax Analysis (2011) 8th edition Thomson
Reference books:
- R. Deutsch, et al, Australian Tax Handbook, 2012 Thomson or Master Tax Guide, CCH 2012 (2)
- G. Cooper, et al, Income Taxation: Commentary and Materials, 7th edition (2010)
- Thomson R. Woellner, et al, Australian Taxation Law, (2012 edition) CCH
Students are advised NOT to purchase any textbooks or statutes until requested to do so by the presenter.
Before the course
Students should acquaint themselves with the documents provided below before attending class. Where material only needs to be read prior to a specific class, the documents will be clearly labeled ‘Lecture 01’, ‘Lecture 02’, ‘Lecture 03’ and so on. For classes with multiple meetings, please refer back to this section prior to the commencement of your next class to check for new materials.
