TAXA2000 Introduction to Australian Tax Law Semester...

Acknowledgement of Country

Unit study package code: TAXA2000

Mode of study: Internal

Tuition pattern summary: Note: For any specific variations to this tuition pattern and for precise information refer to the Learning Activities section.

Seminar: 1 x 3 Hours Weekly

This unit does not have a fieldwork component.

Credit Value: 25.0

Pre-requisite units: 11011 (v.0) Business Law 100 or any previous version OR 11010 (v.0) Law (Contract) 101 or any previous version OR BLAW1004 (v.0) Business Law or any previous version OR BB-LAWCOM (v.0) Bachelor of Laws, Bachelor of Commerce or any previous version OR 314314 (v.0) Bachelor of Laws, Bachelor of Commerce or any previous version

Co-requisite units: Nil

Anti-requisite units: Nil

Result type: Grade/Mark

Approved incidental fees: Information about approved incidental fees can be obtained from our website. Visit fees.curtin.edu.au/incidental_fees.cfm for details.

Unit coordinator: Title: MrsName: Annette MorganPhone: +618 92667106Email: [email protected]: Building: 407 - Room: 327

Teaching Staff: Name: Mathew AlappattPhone: +60 85 443844Email: [email protected]: Building: MIRI - Room: Lectu

Administrative contact: Name: Annette MorganPhone: +618 92667106Email: [email protected]: Building: 407 - Room: 327

Learning Management System: Blackboard (lms.curtin.edu.au)

Unit Outline

TAXA2000 Introduction to Australian Tax Law Semester 2, 2016

Curtin Business School (CBS)Curtin Law School

TAXA2000 Introduction to Australian Tax Law Miri Sarawak Campus 23 Jun 2016 Curtin Law School, Curtin Business School (CBS)

Page: 1 of 12CRICOS Provider Code 00301J

The only authoritative version of this Unit Outline is to be found online in OASIS

http://fees.curtin.edu.au/incidental_fees.cfm

http://lms.curtin.edu.au/

We respectfully acknowledge the Indigenous Elders, custodians, their descendants and kin of this land past and present.

Syllabus This unit introduces the Australian tax system and legislation including income tax and Goods and Services Tax. Topics covered include determination of income, deductions, uniform capital allowances, Capital Gains Tax, partnerships, reconciliation from accounting profit to taxable or net income, trusts and minors, companies and franking accounts.

Introduction Welcome to the unit on Introduction to Australian Tax Law. The primary aim of this unit is to introduce students to the Australian Income Tax system and legislation, a taxation unit which aims to give a basic understanding of the practical application of income tax law to a wide variety of business and financial activities. Goods and Services Tax will be covered as well as the role of a tax professional

The Unit Outline is an important document with which you should be familiar. It sets out the relationship and responsibilities between you, your lecturer, the Unit Co-ordinator and the University. It gives you important information about the general aims of the unit, its resources, and details regarding the assessments, includng mark allocation and dates of assessments.

You should study it carefully, paying particular attention to assessment details and dates. Information in this Unit Outline specifies the requirements of this unit and explains your rights and responsibilities in relation to the University.

If you do not understand any part of this document, do not hesitate to ask your lecturer.

Unit Learning Outcomes All graduates of Curtin University achieve a set of nine graduate attributes during their course of study. These tell an employer that, through your studies, you have acquired discipline knowledge and a range of other skills and attributes which employers say would be useful in a professional setting. Each unit in your course addresses the graduate attributes through a clearly identified set of learning outcomes. They form a vital part in the process referred to as assurance of learning. The learning outcomes tell you what you are expected to know, understand or be able to do in order to be successful in this unit. Each assessment for this unit is carefully designed to test your achievement of one or more of the unit learning outcomes. On successfully completing all of the assessments you will have achieved all of these learning outcomes.

Your course has been designed so that on graduating we can say you will have achieved all of Curtin's Graduate Attributes through the assurance of learning process in each unit.

On successful completion of this unit students can: Graduate Attributes addressed

1 Analyse and apply relevant sections of the income tax assessment acts of 1936 and 1997

2 Calculate taxable income and net tax payable by an individual and sole trader including calculations for net capital gains tax

3 Calculate net income by a trust or partnership entity, including the distribution to beneficiaries or partners

4 Calculate the taxable income of a company, including reconciling accounting profit to taxable profit and franking account

5 Evaluate the Goods and Services Tax (GST) and explain how it applies and undertake basic calculations

Curtin Business School (CBS) Curtin Law School




Curtin's Graduate Attributes

Learning Activities There will be one 3 hour seminar per week.

Seminars

The purpose of the seminar is to describe some of the principles in the unit and the application of those principles. A seminar does not cover all there is to learn about the area. You will need to read and study further those areas covered in the seminar. Similarly, it is not possible to cover in the seminar all the unit material contained in a Practical Introduction to Australian Taxation Law. All material in a Practical Introduction to Australian Taxation Law, whether covered in the seminar or not, is examinable in the test and the final examination.

Because of student numbers and time constraints, a free exchange of questions and comments between students and lecturer during seminars may not always be possible. However, you may approach your lecturer to discuss or clarify points arising from the seminar immediately after the seminar (if there is time), or at the lecturer’s designated consultation time.

Seminars will generally follow the program as set out on the last page of this Unit Outline

Learning Resources Essential texts

The required textbook(s) for this unit are:

l These 2 books may be purchased as the Curtin Taxpak 2016. Only the 2016 version of Australian Tax Law Select may be taken into the examinations for this unit.

2016 Australian Tax Law Select

2016 A Practical Introduction to Australian Taxation Law

(ISBN/ISSN: VP 9780190305499)

Apply discipline knowledge Thinking skills (use analytical skills to solve problems)

Information skills (confidence to investigate new ideas)

Communication skills Technology skillsLearning how to learn (apply principles learnt to new situations) (confidence to tackle unfamiliar problems)

International perspective (value the perspectives of others)

Cultural understanding (value the perspectives of others)

Professional Skills (work independently and as a team) (plan own work)

Find out more about Curtin's Graduate attributes at the Office of Teaching & Learning website: ctl.curtin.edu.au

CODE TYPE DAY TIME ROOM SEM SEMINAR





http://ctl.curtin.edu.au/

Assessment Assessment schedule

Detailed information on assessment tasks

1. Periodic Class Assessments

Please refer to the Assessment Page on the Blackboard for further details At the completion of each topic there will be a case study with an associated online test which will be availabe on the Blackboard, in total there will be 8 tests for the study period.

You are required to attempt at least 4 out of the 8 online tests in order to pass this assessment.

You may complete as many of the online tests as you wish and the highest 4 results will be taken into account when calculating your overall grade.

A case study for each topic is on the Blackboard under the assessment tab at the beginning of the study perid which you may review at any time, after the completion of the topic you will be required to log on to the Blackboard and complete the revelant online test by the due date.

The aim of the exercise is to ensure that you are provided with feedback to your progress on each topic and to assist you should you require further assistance with any topic.

The total grade for this assessment is 10%.

The test answers and a model answer for the case study will be provided on the blackboard after the due date has passed.

More details on this assessment can be found on the Blackboard

2. Written Assignment

Please refer to the Assessment Page on the Blackboard for further details

Task Value % Date DueUnit Learning Outcome(s)

Assessed

1

Weekly Class Assessment 10 percent Week: As per program guide Day: Refer to written instruction on BB Time: Refer to written instructions on BB

2,3,4

2

Written Assignment 15 percent Week: 11 Day: Monday 10th October Time: 11.59 pm

1

3

Test 25 percent Week: 8 Day: Friday 23rd September Time: 6.30pm

1,2

4

Final Examination 50 percent Week: During Scheduled Final Exam Period Day: During Scheduled Final Exam Period Time: During Scheduled Final Exam Period

3,4,5





The essay will need to be approximately 1000-1500 words and will need to be lodged online using the turnitin programme available on the Blackboard.

You can find a lot more detail on this assessment on the Blackboard

3. Test This test covers topics 1, 2, 3 and 4.

Details of the venue will be provided on Blackboard.

The test will be of 2 hours duration plus 10 minutes reading time.

Australian Taxation Law Select (or MTG and Core Tax Legislation), but not A Practical Introduction to Australian Taxation Law, may be taken into the examination room. (Students who are using the MTG and Core Tax Legislation can take these books into the test.) The book/s must be unmarked except for highlighting and underlining. Tags may show section numbers as well as a brief description of the section or area tagged e.g. – prepayments. Failure to comply will result in confiscation of the book for the duration of the test and you may be subject to a disciplinary hearing.

Please comment on any items you exclude from your calculations e.g. income – exempt or expense – capital. The answers available on Blackboard will show you how to answer these questions correctly.

The rates and tables etc. contained in the back of A Practical Introduction to Australian Taxation Law will be provided in the test. In the mid-semester test you will be provided with the uniform capital allowance schedules.

Students can take a non-programmable, silent calculator into the test.

Both the question paper and the answer booklet must be returned for marking. If a question paper is not returned with the answer booklet the answers will NOT BE MARKED.

Results will be released three weeks after the test. They will be posted on Blackboard. Please do not send e-mails or post queries regarding the date of release of the results.

Assessment criteria:

1.1 List and calculate items that are included in Taxable Income

1.2 Notate and explain items that are excluded from Taxable Income

1.3 Use the cash or accrual basis of accounting where applicable

1.4 Calculate Net Tax Payable (including Low Income Tax Offset)

2.1 Calculate the decline in value of depreciating assets.

2.2 Calculate the deduction available under Division 43.

3.1 Calculate Capital Gains

3.2 Notate and explain items that are exempt or excluded from Capital Gains

3.3 Calculate Net Capital Gains including capital losses

3.4 Calculate Net Capital Gains for a business including the active asset discount

4. Provide legislative references and reasoning where required.

Additional information on the test will be provided on the Blackboard closer to the test date.

4. Final Examination The final examination covers all topics of the course, with greater emphasis on Topics 5, 6, 7, 8 and 9.

The exam will be of 2.5 hours duration with 10 minutes reading time.

The rates and tables etc. contained in the back of A Practical Introduction to Australian Taxation Law will be provided in the examination. You will also be provided with the trust flowchart and the Division 6AA flowchart.

Students can take a non-programmable, silent calculator into the examination.

Both the question paper and the answer booklet must be returned for marking. If a question paper is not returned with the answer booklet the answers will NOT BE MARKED.





Assessment Criteria:

4.1 Calculate the Net Income of a Partnership

4.2 Calculate the distribution of partnership income

5.1 Explain when a beneficiary of a trust is Presently Entitled and/or under a Legal Disability

5.2 Calculate the distribution of Trust Income and net tax payable by the trustee and /or beneficiary in the case of a minor beneficiary

5.3 Calculate the tax payable by a minor

5.4 Calculate the net tax payable for undistributed income of a trust

5.5 Notate the sections of the Act applicable for the distributed and undistributed income of a trust.

6.1 Calculate Taxable Income/net income from accounting profit and show the reconciling items

7.1 Calculate the Taxable Income and Net Tax Payable by a Company

7.2 Include appropriate items in the Company’s Franking Account

7.3 Calculate the benchmark rate on payment of dividends

7.4 Calculate and explain the effect of under-franking and over-franking.

8.1 Explain an Input Tax Credit for GST

8.2 Calculate GST payable

9.1 Explain the role and obligations of a Tax Agent

10 Provide legislative references or reasoning when required.

Additional information on the test will be provided on the Blackboard closer to the test date

Assessment Compliance Information The Final Exam will be held during the formal examination period. It is the student’s responsibility to check the date and time of the Final Exam on the Curtin website.

Official release of results for this unit are published on Oasis on the Curtin website http://oasis.curtin.edu.au

Pass requirements

To pass this unit you must:

a Receive an overall grade of 5 or more and a total mark of at least 50% AND

b Attempt all assessments.

This means you can fail an assessment and still pass the unit.

Fair assessment through moderation

Moderation describes a quality assurance process to ensure that assessments are appropriate to the learning outcomes, and that student work is evaluated consistently by assessors. Minimum standards for the moderation of assessment are described in the Assessment and Student Progression Manual, available from policies.curtin.edu.au/policies/teachingandlearning.cfm





http://oasis.curtin.edu.au/

http://policies.curtin.edu.au/policies/teachingandlearning.cfm

Late assessment policy

This ensures that the requirements for submission of assignments and other work to be assessed are fair, transparent, equitable, and that penalties are consistently applied.

1. All assessments students are required to submit will have a due date and time specified on this Unit Outline. 2. Students will be penalised by a deduction of ten percent per calendar day for a late assessment submission

(eg a mark equivalent to 10% of the total allocated for the assessment will be deducted from the marked value for every day that the assessment is late). This means that an assessment worth 20 marks will have two marks deducted per calendar day late. Hence if it was handed in three calendar days late and given a mark of 16/20, the student would receive 10/20. An assessment more than seven calendar days overdue will not be marked and will receive a mark of 0.

Assessment extension

A student unable to complete an assessment task by/on the original published date/time (eg examinations, tests) or due date/time (eg assignments) must apply for an assessment extension using the Assessment Extension form (available from the Forms page at students.curtin.edu.au/administration/) as prescribed by the Academic Registrar. It is the responsibility of the student to demonstrate and provide evidence for exceptional circumstances beyond the student's control that prevent them from completing/submitting the assessment task.

The student will be expected to lodge the form and supporting documentation with the unit coordinator before the assessment date/time or due date/time. An application may be accepted up to five working days after the date or due date of the assessment task where the student is able to provide an acceptable explanation as to why he or she was not able to submit the application prior to the assessment date. An application for an assessment extension will not be accepted after the date of the Board of Examiners' meeting.

Deferred assessments

Supplementary assessments

Supplementary assessments, if granted by the Board of Examiners, will have a due date or be held between 06/02/2017 and 17/02/2017 . Notification to students will be made after the Board of Examiners’ meeting via the Official Communications Channel (OCC) in OASIS.

It is the responsibility of students to be available to complete the requirements of a supplementary assessment. If your results show that you have been granted a supplementary assessment you should immediately check OASIS for details.

Reasonable adjustments for students with disabilities/health circumstances likely to impact on studies

A Curtin Access Plan (CAP) is a document that outlines the type and level of support required by a student with a disability or health condition to have equitable access to their studies at Curtin. This support can include alternative exam or test arrangements, study materials in accessible formats, access to Curtin’s facilities and services or other support as discussed with an advisor from Disability Services (disability.curtin.edu.au). Documentation is required from your treating Health Professional to confirm your health circumstances.

If you think you may be eligible for a CAP, please contact Disability Services. If you already have a CAP please provide it to the Unit Coordinator at the beginning of each semester.

If your results show that you have been granted a deferred assessment you should immediately check OASIS for details.

Deferred examinations/tests will be held from 06/02/2017 to 17/02/2017 . Notification to students will be made after the Board of Examiners’ meeting via the Official Communications Channel (OCC) in OASIS.





http://students.curtin.edu.au/administration/

http://life.curtin.edu.au/health-and-wellbeing/CAP.htm

http://life.curtin.edu.au/health-and-wellbeing/disability_services.htm

http://life.curtin.edu.au/health-and-wellbeing/disablity_services_eligibility.htm#/health-and-wellbeing/10126.htm

http://life.curtin.edu.au/health-and-wellbeing/contact_disability_services.htm

Referencing style

The referencing style for this unit is Australian Legal Citiation.

More information on this referencing style can be obtained at http://www.law.unimelb.edu.au/mulr/aglc

Copyright © Curtin University. The course material for this unit is provided to you for your own research and study only. It is subject to copyright. It is a copyright infringement to make this material available on third party websites.

Academic Integrity (including plagiarism and cheating) Any conduct by a student that is dishonest or unfair in connection with any academic work is considered to be academic misconduct. Plagiarism and cheating are serious offences that will be investigated and may result in penalties such as reduced or zero grades, annulled units or even termination from the course.

Plagiarism occurs when work or property of another person is presented as one's own, without appropriate acknowledgement or referencing. Submitting work which has been produced by someone else (e.g. allowing or contracting another person to do the work for which you claim authorship) is also plagiarism. Submitted work is subjected to a plagiarism detection process, which may include the use of text matching systems or interviews with students to determine authorship.

Cheating includes (but is not limited to) asking or paying someone to complete an assessment task for you or any use of unauthorised materials or assistance during an examination or test.

From Semester 1, 2016, all incoming coursework students are required to complete Curtin’s Academic Integrity Program (AIP). If a student does not pass the program by the end of their first study period of enrolment at Curtin, their marks will be withheld until they pass. More information about the AIP can be found at: https://academicintegrity.curtin.edu.au/students/AIP.cfm

Refer to the Academic Integrity tab in Blackboard or academicintegrity.curtin.edu.au for more information, including student guidelines for avoiding plagiarism.

Information and Communications Technology (ICT) Expectations Curtin students are expected to have reliable internet access in order to connect to OASIS email and learning systems such as Blackboard and Library Services.

You may also require a computer or mobile device for preparing and submitting your work.

For general ICT assistance, in the first instance please contact OASIS Student Support: oasisapps.curtin.edu.au/help/general/support.cfm

For specific assistance with any of the items listed below, please contact The Learning Centre: life.curtin.edu.au/learning-support/learning_centre.htm

l Using Blackboard, the I Drive and Back-Up files l Introduction to PowerPoint, Word and Excel





http://www.law.unimelb.edu.au/mulr/aglc

https://academicintegrity.curtin.edu.au/students/AIP.cfm

http://academicintegrity.curtin.edu.au/

https://oasisapps.curtin.edu.au/help/general/support.cfm

http://life.curtin.edu.au/learning-support/learning_centre.htm

Additional information

CORE UNIT STATUS If you are taking this unit as a required (core) unit in your course of study, you may be terminated from your course of study if you fail this unit twice.

STUDY LOAD 10 hours per week

TEACHING STAFF The teaching staff will assist you with your learning and any problems or difficulties you may be experiencing while undertaking this unit. They will also mark your examinations and provide feedback in relation to your progress in this unit.

If you leave a message for the lecturer or tutor by email or telephone, allow for a response time of one working day.

Note: When contacting the teaching staff, please be aware that we are on Western Standard Time (+8 GMT).

You are welcome to contact your lecturer via email. Always provide your full name, student number and tutorial group when you send an email. Please put an appropriate subject into the Subject Heading – e.g. Taxa2000 (Insert your venue – e.g. Miri).

Please note that the lecturer will use a student’s Curtin email address if it is necessary to contact a student. It is the student’s responsibility to ensure that he/she regularly checks his/her Curtin email for official correspondence.

PRIZES The R K O’Connor QC prize is awarded for the best student in TAXA2000

Enrolment

It is your responsibility to ensure that your enrolment is correct - you can check your enrolment through the eStudent option on OASIS, where you can also print an Enrolment Advice.

Student Rights and Responsibilities It is the responsibility of every student to be aware of all relevant legislation, policies and procedures relating to their rights and responsibilities as a student. These include:

l the Student Charter l the University's Guiding Ethical Principles l the University's policy and statements on plagiarism and academic integrity l copyright principles and responsibilities l the University's policies on appropriate use of software and computer facilities

Information on all these things is available through the University's "Student Rights and Responsibilities" website at: students.curtin.edu.au/rights.





http://students.curtin.edu.au/rights/

Student Equity There are a number of factors that might disadvantage some students from participating in their studies or assessments to the best of their ability, under standard conditions. These factors may include a disability or medical condition (e.g. mental illness, chronic illness, physical or sensory disability, learning disability), significant family responsibilities, pregnancy, religious practices, living in a remote location or another reason. If you believe you may be unfairly disadvantaged on these or other grounds please contact Student Equity at [email protected] or go to http://eesj.curtin.edu.au/student_equity/index.cfm for more information

You can also contact Counselling and Disability services: http://www.disability.curtin.edu.au or the Multi-faith services: http://life.curtin.edu.au/health-and-wellbeing/about_multifaith_services.htm for further information.

It is important to note that the staff of the university may not be able to meet your needs if they are not informed of your individual circumstances so please get in touch with the appropriate service if you require assistance. For general wellbeing concerns or advice please contact Curtin's Student Wellbeing Advisory Service at: http://life.curtin.edu.au/health-and-wellbeing/student_wellbeing_service.htm

Recent unit changes Students are encouraged to provide unit feedback through eVALUate, Curtin's online student feedback system. For more information about eVALUate, please refer to evaluate.curtin.edu.au/info/.

Recent changes to this unit include:

Periodic assessments have been introduced to provide early feedback to students

This unit has received excellent feedback regarding the quality of the lecturers and the materials and facilities such as the Discussion Board and iLectures. We continue to work at improving the experience for students. The Unit Co-ordinator is always keen to hear about your experience in the unit. You are therefore encouraged to take the time at the end of the semester to share your experience.

To view previous student feedback about this unit, search for the Unit Summary Report at https://evaluate.curtin.edu.au/student/unit_search.cfm. See https://evaluate.curtin.edu.au/info/dates.cfm to find out when you can eVALUate this unit.





mailto:[email protected]

http://eesj.curtin.edu.au/student_equity/index.cfm

http://www.disability.curtin.edu.au/

http://life.curtin.edu.au/health-and-wellbeing/about_multifaith_services.htm

http://life.curtin.edu.au/health-and-wellbeing/student_wellbeing_service.htm

http://evaluate.curtin.edu.au/info/index.cfm

https://evaluate.curtin.edu.au/student/unit_search.cfm

https://evaluate.curtin.edu.au/info/dates.cfm

Program calendar

Week Begin Date Suggested study program Pre-readings

Assessment Due

Orientation 25 July No Classes

1 1 August Introduction and Framework of the Australian Taxation System

Unit Guide

2 8 August

Income Unit Guide and ATLS

3 15 August Deductions

Unit Guide and ATLS

Online Test 1 - Due 17th August (Income Topic)

4 22 August Deductions Unit Guide and ATLS

5 29 August Tuition Free Week

6 5 September Uniform Capital Allowances Unit Guide and ATLS

Online Test 2 - Due 7th September (Deduction Topic)

7 12 September

Capital Gains Tax Unit Guide and ATLS

Online Test 3 - Due 14th September (Uniform Capital Allowances Topic)

8 19 September

Revision for Test Online Test 4 - Due 21st September (Capital Gains Tax Topic) Test Friday 23rd September at 6.30 pm Venue TBA

9 26 September

Tuition Free Week

10 3 October Partnerships Unit Guide and ATLS

11 10 October Trusts and Minors

Unit Guide and ATLS

Written Essay Monday 10th October at 11.59 pm via turnitin Online Test 5 - Due 12th October (Partnership Topic)

12 17 October Companies

Unit Guide and ATLS

Online Test 7 - Due 19th October (Trust Topic)

13 24 October GST Unit Guide and ATLS

Online Test 6 - Due 26th October





(Company Topic)

14 31 October Tax Professionals / Revision

Unit Guide and ATLS

Online Test 8 - Due 2nd November (GST Topic)

15 7 November Study Week

16 14 November

Exam Week 1

17 21 November

Exam Week 2





TAXA2000 Introduction to Australian Tax Law Semester...

Documents

Transcript of TAXA2000 Introduction to Australian Tax Law Semester...