BUS302 Taxation Law

Unit outline

Important Update: Our aim is to provide you with an optimal learning experience, regardless of how this unit is delivered. Teaching will be delivered in line with the most current COVID Safe health guidelines.  This may include a mix of online and face-to-face.  Please check the learning management system for announcements and updates. Thank you for your flexibility and commitment to studying with Sydney Institute of Higher Education.
Enrolment modes: Year 3, Semester 1
Credit point(s): 12.5
EFTSL value: 0.125
Prerequisite: BUS108 Business Law
Typical study commitment: Students will on average spend 10 hours per week over the teaching period undertaking the teaching, learning and assessment activities for this unit.
Scheduled learning activities: 4 timetabled hours per week, 6 personal study hours per week

Unit Description

Taxation law is a body of law governing the liability of individuals and companies to pay tax to the government. This unit is designed to introduce students to the Australian taxation system and the various discrete taxes levied at state and federal levels, and to provide an introduction to international taxation arrangements. The focus of the unit is nevertheless on the major federal taxes – income tax, capital gains tax and goods and services tax (GST). Topics studied include concepts of assessable income, allowable deductions, capital expenditure allowances, and the taxation of individuals, partnerships, trusts, companies and consolidated groups.


Unit learning outcomes (ULO)   

  On the successful completion of this units student will be able to:
ULO1 Discuss the Australian tax system, explain the variance between different types of taxes, and understand the basic concepts in taxation law.
ULO2 Carry out calculations for income tax and GST for commercial transactions conducted by companies, trusts and partnerships.
ULO3 Study the rules of assessable income and allowable deduction to solve a range of personal and business income tax problems.
ULO4 Build a tax plan to arrange financial affairs in strict compliance with Australian and international taxation legislations.
ULO5 Critique contemporary issues with regards to the Australian tax system and international taxation using relevant legislation.

Topics to be included in the unit

1. Overview of Australian taxation system and tax administration
2. Overview of International taxation laws
3. Assessable income
4. Deductions – general and specific
5. Capital expenditure allowances
6. Capital gains tax (CGT)
7. Taxation of individuals
8. Taxation of partnerships and trusts
9. Companies and dividends
10. Fringe benefits tax (FBT)
11. Goods and services tax (GST)
12. Taxation of consolidated groups

Assessment

Assessment Description Grading and weighting
(% total mark for unit)
Indicative due week
Assessment 1: Group Assignment 20% 10
Assessment 2: Individual Assignment 20% 12
Assessment 3: Final Exam 60% Final exam week

The assessment due weeks provided may change. Your lecturer will clarify the exact assessment requirements, including the due date, at the start of the teaching period.