Australian School of Business Taxation and Business Law of Australian Taxation Law is intended to provide students with a sophisticated but broad understanding of the Australian taxation

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  • www.asb.unsw.edu.au

    CRICOS Code: 00098G

    TABL5901 PRINCIPLES OF AUSTRALIAN TAXATION LAW

    COURSE OUTLINE SEMESTER 1, 2014

    2014 The University of New South Wales Sydney 2052 Australia The original material prepared for this guide is copyright. Apart from fair dealing for the purposes of private study, research, criticism or review, as permitted under the Copyright Act, no part may be reproduced by any process without written permission. Enquiries should be addressed to the Head of School, T, UNSW, Sydney 2052.

    Australian School of Business Taxation and Business Law Course Outline

  • Principles of Australian Taxation Law

    TABL1001

    TABL5901

    Principles of Australian Taxation Law is intended to provide students with a sophisticated but broad understanding of the Australian taxation system from a legal perspective. In this course, the fundamental elements of the Australian direct and indirect taxation regimes are analysed. The course investigates the principles of the taxation of income and deductions rules, and the capital gains tax rules. The course also provides an introduction and overview of the Fringe Benefits Tax, the Superannuation system and the Goods and Services Tax.

    Semester 1, 2014

  • TABL1001_TABL5901 Principles of Australian Taxation Law

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    Edition Semester 1, 2014

    Copyright The University of New South Wales, 2014

    No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage and retrieval system, without the prior written permission of the Head of School. Copyright for acknowledged materials reproduced herein is retained by the copyright holder. All readings in this publication are copied under licence in accordance with Part VB of the Copyright Act 1968.

    A U T H O R S

    Michael Walpole BA, LLB, GradDipTax Natal

    Yuri Grbich LLM VUW, PhD LSE

    R E V I S I O N S F O R 2 0 1 4 B Y :

    Margaret McKerchar (Materials updated as at February 2014)

    Educational Design & Desktop Publishing by:

    BBlueprintEEducationalSServices P/L

    http://www.bprint.com.auP.O.Box54

    StanhopeGardensNSW,2768

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    Contents COURSE OUTLINE About the lecturer ................................................................................. 4Letter of introduction ........................................................................... 5Introduction to the course ..................................................................... 6

    Student learning outcomes and goals ......................................... 6How to use this package ..................................................................... 11Key to instructional icons ................................................................... 12Profile of this course .......................................................................... 13

    Course description ................................................................... 13Textbooks and references ........................................................ 14

    Supporting your learning .................................................................... 16Conferencing ............................................................................ 16School of Taxation & Business Law Website ......................... 17Atax Student Guide .................................................................. 17Library and resources ............................................................... 17Online learning in this course .................................................. 18Other support ........................................................................... 19Academic Honesty and Plagiarism .......................................... 20

    Assessment: Undergraduate Students (TABL1001) .......................... 22Assessment: Postgraduate Students (TABL5901) ............................. 28Suggested study schedule ................................................................... 35

    Appendix AAssignment preparation and submission Sample Examination Paper

    STUDY GUIDE Module 1 The Australian legal system: A lawyers reasoning Module 2 Income tax: Assessable income Module 3 Income tax: Allowable deductions Module 4 Capital gains tax Module 5 Fringe Benefits Tax Module 6 Australias Superannaution System Module 7 Goods and Services Tax

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    About the lecturer

    Margaret McKerchar BA(Accounting), MBA, PhD (UNSW), FTIA, FCPA

    Margaret McKerchar is a Professor and former Head of School at Atax. She joined Atax in 2005 from her previous appointment at The University of Sydney and brings with her over thirty years experience in tax.

    Commencing her career in 1975 as a cadet in the Australian Taxation Office, Margaret has worked in practice and has been a registered tax agent since 1984. She has made a major contribution to taxation in Australia since 1990 as an academic and researcher. During this period she has conducted research, presented papers and published both in Australia and overseas on tax compliance, tax policy and tax reform.

    Margaret was awarded the Graham Hill ATTA Medal for services to tax teaching and policy in 2009. Other achievements include being runner-up in the OECD 2nd Jan Franke Tax Research Award in 2002 for a paper on lessons for tax administrations, and being awarded the CPA Frank Burke Research Scholarship in 2003. Margaret has had Research Fellowships to San Jose State University, Curtin University and UiTM Malaysia. She is an Erskine Fellow at University of Canterbury and an Adjunct Professor at the University of South Australia.

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    Letter of introduction Welcome to Principles of Australian Taxation Law which is, for many of you, your first law course with the School of Taxation & Business Laws Atax program.

    Our students in this course include those studying a Bachelor of Taxation degree as well as undertaking postgraduate level study but coming from backgrounds outside of law or commerce (eg, we have students from Arts, Science and Mathematics). This course is designed to provide all students with the same grounding in taxation concepts as well as introducing students to the basic skills neded in a law course. We aim to provide you with an understanding of the core building blocks of the Australian taxation system, and to teach you how to apply some of the central concepts to a given situation.

    The process involved in learning the material is not simply a delivery of information by the lecturers. You will be expected to engage the material and work with it. You will be expected to work with the concepts in the material, to discuss them with fellow students and to contribute to discussions in the audio conferences. Your views are important.

    I wish you luck in your Atax studies and look forward to working with you in this course.

    Margaret McKerchar

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    Introduction to the course

    Relationship to other courses in program This course is a compulsory component in each of the following programs: Bachelor of Taxation Graduate Certificate in Taxation Studies Graduate Diploma in Taxation Studies Master of Taxation Studies.

    It is highly recommended that students take this course at the start of their program of study as it provides the foundation for subsequent courses in the degree program.

    Course summary This course provides students from Australia and other jurisdictions with a technical overview of the essential elements of the Australian taxation system. This course also enables students to convert overseas accounting qualifications to Australian equivalents.

    Course objectives Upon completion of this course, students should have developed: an understanding of the legal framework within which

    Australian taxation operates, and of the policy considerations inherent in taxation generally

    the skills required to understand and apply legal cases, and to apply principles of taxation in solving problem questions

    the ability to argue effectively and to consider issues from more than one point of view.

    Student learning outcomes and goals Learning outcomes are what you should be able to do by the end of this course if you participate fully in learning activities and successfully complete the assessment items. The learning outcomes in this course will help you to achieve some of the overall learning goals for your program. These program learning goals are what we want you to be or have by the time you successfully complete your degree. The following is a list of the ASB program learning goals for both undergraduate and postgraduate students.

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    ASB Undergraduate Program Learning Goals

    1. Knowledge: Our graduates will have in-depth disciplinary knowledge applicable in local and global contexts.

    You should be able to select and apply disciplinary knowledge to business situations in a local and global environment.

    2. Critical thinking and problem solving: Our graduates will be critical thinkers and effective problem solvers.

    You should be able to identify and research issues in business situations, analyse the issues, and propose appropriate and well-justified solutions.

    3. Commun

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