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  • Topic: Taxation in Australia, Tax, Income tax
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  • Published : October 6, 2013
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Department of Accounting
Faculty of Business, Economics and Law

taxation/acc3tax

Subject Learning Guide

Semester 1
2013
Bundoora Campus

Subject Coordinator: Leslie Nethercott

ENQUIRIES
Leslie Nethercott
Associate Professor
104 Social Sciences Building
La Trobe University
Victoria 3083
T03 9479 5178
F03 9479 2356
E[email protected]
latrobe.edu.au/fbel

Subject Details
GENERAL DETAILS
Subject Code:
ACC3TAX
Subject Title:
TAXATION
Teaching Period:
SEMESTER 1/2013
Location(s):
BUNDOORA CAMPUS
Credit Points:
15
Mode:
1 two-hour lecture
1 one-hour tutorial
*locations and times of lectures and tutorials are available at the online timetable.* Level
Third year

ENROLMENT REQUIREMENTS
Prerequisites:
Introductory Financial Accounting (ACC1IFA) AND Law of Business Association (LST2LBA). Assumed Skills & Knowledge:
Taxation is taught on the assumption that students have completed the subject prerequisites as noted above. Special Study Requirements:
AT HOME STUDY: A minimum of 7 hours of at-home study per week is essential for the correct assimilation and comprehension of contents delivered in the lectures. TUTORIALS: Tutorial classes are run on a discussion-basis system. Tutorial exercises must be answered before tutorial classes. No model answers will be provided during tutorials; students must work out their own answers and discuss any questions. SPECIAL NEEDS: Students with special needs whose participation in this subject might be limited by any study requirements are encouraged to consult the Equality and Diversity Centre (EDC). Further information and contact details for the EDC are available at http://www.latrobe.edu.au/equality.

STAFF CONTACTS
Subject Coordinator:
Associate Professor Leslie Nethercott
Email:
[email protected]
Tel:
03 9479 5178
Location:
Room 104, Social Sciences Building, Bundoora Campus

SUBJECT DESCRIPTION
This subject develops an understanding of Commonwealth income tax legislation and the implications of income tax on individuals and businesses. A practical approach is taken to the subject matter. Topics include the general concepts of assessable income and allowable deductions, (including substantiation provisions, an introduction to capital gains and fringe benefits tax. The taxation of entities will also be covered including; the taxation of partnerships, companies and trusts. The subject will also cover: returns and assessments, objections and appeals.

SUBJECT INTENDED LEARNING OUTCOMES (SILOS)
Upon successful completion of this subject, students should be able to: 1
Demonstrate an understanding of the operation of the Australian income tax system. 2
Interpret the relevant legislation and common law to be able to make informed judgements on issues relating to the Australian taxation framework, policy issues and the application of the law in a variety of business/taxable entities such as partnerships, companies and trusts. 3

Formulate appropriate business strategies to ensure compliance with the provisions of the relevant legislation and be aware of the potential effects of possible changes in taxation law. 4
Demonstrate an understanding of legal principles and their application, specifically in relation to taxation and case law. 5
Calculate taxable income and tax payable for all types of taxable entities.

FACULTY GRADUATE CAPABILITIES
The following Faculty Graduate Capabilities (FGCs) are evaluated in this subject:

FGC
FGC Point
a
Writing
Capstone: Assessed by completion of individual assignment, group assignment and final written exam. b
Critical Thinking/Analysis, Creative problem solving/synthesis Capstone: Assessed by completion of individual and group assignments and final written exam. c
Team Work
Capstone: Assessed by completion of one major group case study. d
Information literacy
Capstone: Assessed by completion of individual and group assignments and...