Details for Taxation Law

Taxation is a very important area of government activity. It impacts upon the directions and efficiency of the economy and ultimately affects the distribution of income in society and provides parameters within which government spending programs can be maintained. In addition, we as individuals have an obvious need to understand the taxation laws and their implications for our personal decisions. This is also true for businesses. Given that taxation is an area with one of the largest amounts of legislation and legislative change, and a large number of reported decisions and administrative rulings, the unit is required to provide a high level of understanding which also has to be achieved in the short space of one semester’s study. Nevertheless, because the law changes so frequently, the key aim is not to give a static picture of the legal provisions in the semester in which you are studying this area, but rather to use that material to develop dynamic skills that will allow you to find, understand and utilise the provisions that are operative whenever you have a particular taxation issue to consider.

Quick Info

  • Currently offered by Alphacrucis: Yes
  • Course code: BUS350
  • Credit points: 10
  • Subject coordinator: Philip Lee

Prerequisites

The following courses are prerequisites:

Awards offering Taxation Law

This unit is offered as a part of the following awards:

Unit Content

Outcomes

  1. Describe and discuss the fundamental principles and operations of the Australian taxation system and the Tax Assessment Act;
  2. Critically analyse, discuss and apply problem-solving skills to resolve issues relating to taxation law;
  3. Demonstrate an advanced ability to research and analyse examples of taxation cases to illustrate income tax rulings;
  4. Identify, describe and apply the fundamental concepts of assessable income and allowable deductions to calculate taxable income and tax payable for individuals and common tax entities;
  5. Identify various types of taxation including income tax, capital gains tax, goods and services tax, and fringe benefits tax, and perform basic taxation calculations for them. 

Subject Content

  • An introduction to taxation law and theory
  • The meaning of income and assessable income
  • Allowable deductions
  • Goods and Services Tax (GST)
  • Capital Gains Tax
  • Fringe Benefits Tax
  • Capital allowances (Depreciation)
  • Calculation of tax payable
  • Taxation for partnerships, trusts, and companies
  • Dividend imputation
  • Taxation administration
  • International taxation and issues in taxation law

This course may be offered in the following formats

  • Face to face (onsite)
  • eLearning (online)
  • Intensives

Please consult your course prospectus or enquire about how and when this course will be offered next at Alphacrucis College.

Assessment Methods

  • Mid-term Examination (20%)
  • Practical Exercises - Tax Advice (40%)
  • Final Exam (50%)

Prescribed Text

  • Woellner, R., Barkoczy, S., Murphy, S., Evans, C. & Pinto, D. (2016). Australian Taxation Law (26th Ed.). South Melbourne: Oxford University Press.

Please consult your instructor each semester before purchasing any texts

Representative References

TBA