LAWS 7031 Principles of Taxation

Credit Points 10

Legacy Code 200869

Coordinator James Paterson Opens in new window

Description This unit provides an overview of the Australian taxation system as it affects the financial planning environment. Many financial planning decisions have a tax impact. Further, some financial products and much financial advice derive at least some of their value from their taxation consequences. Key topics covered include aspects of tax administration, tax planning concepts, the constitutional basis of taxation, assessable income concepts, international tax issues, the taxation of capital, allowable deductions and offsets, and taxation of such entities as partnerships, trusts, companies and shareholders. The course will also address other taxes that impact the financial advice environment including the FBT and the GST.

School Law

Student Contribution Band HECS Band 4 10cp

Check your HECS Band contribution amount via the Fees page.

Level Postgraduate Coursework Level 7 subject

Equivalent Subjects LAWS 7032 - Revenue Law LGYB 3546 - Taxation Planning and Implications

Restrictions Students must be enrolled in a postgraduate Business program. Students wishing to take this subject as an elective need approval from the Academic program Advisor. Students in the 2689 Master of Professional Accounting, 2691 Master of Accountancy, 2793 Master of Financial Planning and 2794 Graduate Diploma in Financial Planning programs must have successfully completed 200432 Commercial Law (or equivalent unit) before undertaking this subject.

Learning Outcomes

On successful completion of this subject, students should be able to:
  1. Identify and explain the key elements of the Australian Income Tax System and the key revenue law principles.
  2. Apply the relevance of tax law information in decided taxation cases, effectively and appropriately, displaying clear understanding of how the case law and legislation are applied in solving tax law problems.
  3. Apply their understanding of revenue law concepts to analysing and solving practical problems.

Subject Content

1. Aspects of tax administration.
2. The Australian Taxation System.
3. Concepts of Income.
4. Capital Gain Tax.
5. Allowable Deductions.
6. Taxation of Partnerships and Trusts.
7. Taxation of Companies and Shareholders.
8. Tax Offsets and Rebates.
9. Residence and Source.
10. Fringe Benefits Tax.
11. Goods and Services Tax.

Assessment

The following table summarises the standard assessment tasks for this subject. Please note this is a guide only. Assessment tasks are regularly updated, where there is a difference your Learning Guide takes precedence.

Item Length Percent Threshold Individual/Group Task
Quizzes 5 multiple choice X 5 marks 25 N Individual
Essay - Major Assignment 1,500 words 25 N Individual
Final Exam 2 hours 50 Y Individual

Prescribed Texts

  • Pinto, D et al, Fundamental Tax Legislation 2021 (Thomson Reuters, 2021)
  • Sadiq, K et al, Principles of Taxation Law 2021(Thomson Reuters, 2021).

Teaching Periods

2022 Quarter 1

Online

Online

Subject Contact James Paterson Opens in new window

Attendance Requirements 80% attendance rate is imposed in all core subjects’ due to the nature of class activities that are aligned with subject assessments.

View timetable Opens in new window

Parramatta City - Macquarie St

Day

Subject Contact Tenille Buttigieg Opens in new window

Attendance Requirements 80% attendance rate is imposed in all core subjects’ due to the nature of class activities that are aligned with subject assessments.

View timetable Opens in new window

2022 Quarter 3

Online

Online

Subject Contact Elen Seymour Opens in new window

Attendance Requirements 80% attendance rate is imposed in all core subjects’ due to the nature of class activities that are aligned with subject assessments.

View timetable Opens in new window

Parramatta City - Macquarie St

Day

Subject Contact Tenille Buttigieg, Elen Seymour Opens in new window

Attendance Requirements 80% attendance rate is imposed in all core subjects’ due to the nature of class activities that are aligned with subject assessments.

View timetable Opens in new window