Unit Outline - ACCT2331 Taxation PDF

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04/03/2019

Unit Outline - ACCT2331 Taxation

ACCT2331 Taxation SEM-1 2019 Unit information Unit Code

ACCT2331

Title

Taxation

Level

2

Faculty

Arts, Business, Law and Education

School

UWA Business School

Unit Coordinator

Dr Mark Holub

Credit points

6 points

Academic information Content

This unit provides an introduction to the law and practice of income taxation in Australia. It focuses on the principles governing the assessment of income and deductibility of expenditure, the treatment of capital gains and losses, the key provisions affecting individuals, partnerships, companies and trusts, and aspects of compliance and the appeals process. Core provisions of the Income Tax Assessment Act 1936 and the Income Tax Assessment Act 1997 are examined. Kindred legislation such as the Fringe Benefits Tax Assessment Act 1986 and the Taxation Administration Act 1953 is also considered.

Unit Learning Outcomes

How outcome will # Outcome

be assessed

1 identify the fundamental provisions of the Income Tax Assessment Act 1936 , Income

assignments;

Tax Assessment Act 1997 and Fringe Benefits Tax Assessment Act 1986

online activities; exam

2 identify important tax cases relevant to the interpretation of tax provisions, and commentaries relevant to them

assignments; online activities; exam

3 critically evaluate and solve basic to moderately difficult problems involving the computation of taxable income and tax liability

assignments; online activities; exam

4 think and reason logically when examining income tax issues, drawing on knowledge gained from reading and interpreting legislation and case law

assignments; online activities; exam

5 justify and communicate advice on the tax consequences of events such as the disposal of an asset and the payment of an amount to a beneficiary of a trust

assignments; online activities; exam

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Indicative Assessment

Unit Outline - ACCT2331 Taxation

# Assessment

Indicative weighting Failed component

1 assignments

30%

2 online activities 20% 3 examination

50%

The indicative assessment structure provides an overview of how this unit is typically assessed. In order to fit teaching requirements, this may change slightly from year to year. The Required Assessments table below shows how the unit is being assessed in this specific teaching period. Supplementary Please refer to required assessments below. assessment statement

Contact details Unit Coordinator Contact Information Name

Dr Mark Holub

Email

[email protected]

Phone number

6488 2647

Room number or

BUSN:218

location Consultation

By appointment

information 

NB. Assessment extensions cannot be granted by Unit Coordinators. See "Special Considerations" below.

Unit information ACCT2331 Taxation is designed to acquaint you with the fundamental concepts of Australia’s principal revenue raising legislation – the Income Tax Assessment Acts of 1936 and 1997 (as amended) [ITAA36 and ITAA97]. The primary focus is on applying the core provisions to individuals, partnerships and partners, companies and shareholders, and trusts and beneficiaries. The unit also presents an overview of capital gains taxation, fringe benefits tax, and the goods and services tax, and covers aspects of tax administration.

Lecture Capture System LCS will be used to record the lectures in this unit.

Teaching and Learning Strategy The unit is delivered in face-to-face mode using lectures and tutorials. Learning and support materials are provided in LMS.

Teaching and Learning Evaluation

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You may be asked to complete two evaluations during this unit: The Student Perception of Teaching (SPOT) and the Students’ Unit Reflective Feedback (SURF). The SPOT is optional and is an evaluation of the lecturer and the unit. The SURF is completed online and is a university wide survey and deals only with the unit. You will receive an email inviting you to complete the SURF when it is activated. We encourage you to complete the forms as your feedback is extremely important and can be used to make changes to the unit or lecturing style when appropriate.

Unit Structure The unit is delivered using a weekly lecture class (2 hrs) and a tutorial (45 mins). Lecture time is devoted to developing your understanding of topics and discussing key concepts. Tutorials are designed for the completion of practical exercises and assignments. Please refer to the Class Allocation System CAS page at https://www.cas.uwa.edu.au/student for the lecture and tutorial timetable.

Required Assessments More detailed information regarding assessments is available via the Assessments tab in the unit LMS. # Assessment item

Weighting

Unit learning outcome

Submission Procedure

Due

1 Assignments

30%

1-5

LMS

2 Online activities

20%

1-5

LMS

Weekly (refer LMS)

3 Final examination

50%

1-5



Sem 1 exam period

24 March, 14 April, 5 May at 12 noon

Unit Schedule Week #

Week

Topic

Tutorials

Introduction to taxation

-

commencing 1

25 February

2

4 March

The Australiantax system; Goods

#1

and services tax (GST) [Overview] 3

11 March

Income tax liability; Administrative

#2

aspects I 4

18 March

Residence & source, Income

#3

5

25 March

Deductions

#4

6

1 April

Tax timing; Special kinds of income

#5

and deductions 7

8 April

Trading stock; Capital allowances

#6

and write-offs 8 Mid-semester

15 April

Capital gains tax (CGT)

#7

22 - 26 April





29 April

Companies; Dividend imputation

#8

Study Break 9

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10

6 May

Partnerships; Trusts

#9

11

13 May

Fringe benefits tax (FBT);

#10

International aspects 12

20 May

Administrative aspects II; Anti-

-

avoidance provisions Pre-exam Study

27 - 31 May





1 - 15 June





Break Semester 1 Examination Period

Participation Participation in class, whether it is listening to a lecture or getting involved in other activities, is an important part of the learning process, therefore it is important that you attend classes. More formally, the University regulations state that ‘to complete a course or unit students shall attend prescribed classes, lectures, seminars and tutorials’. Where a student, due to exceptional circumstances, is unable to attend a scheduled class, they are required to obtain prior approval of the unit coordinator to be absent from that class. Any student absent from class without having had such absence approved by the unit coordinator may be referred to the faculty for advice and may be required to withdraw from the unit.

Academic conduct requirements Referencing It is important that the referencing of any sources used in your written work is done properly, if only to substantiate the points you are making in your assignment or project. The Harvard style is the preferred used unless otherwise stated by the unit coordinator. There are some notes for guidance which have been prepared by the library staff: ‘Citing your Sources Harvard Style’ (http://guides.library.uwa.edu.au/harvard) . The EndNote soware package is a really good system for building up a database of references. Not everyone will want to invest the time in using this system but you should consider it if you intend to build up resource materials or plan to undertake extensive research in a particular area. The library staff have also developed a tutoring package: ‘A Quick Guide to Using EndNote’ which provides the basics for using EndNote with an essay http://guides.library.uwa.edu.au/endnote (http://guides.library.uwa.edu.au/endnote)

Acknowledging Sources of Information and the Business School Policy on Plagiarism Student Services provides an online plagiarism portal that includes a definition of plagiarism and a link to FAQ www.studentservices.uwa.edu.au/ss/learning/online_services/plagiarism_portal (http://www.student.uwa.edu.au/learning/studysmarter/getsmart-now/referencing/plagiarism) ‘Turnitin' Originality Checking and Plagiarism Prevention is used in the Faculty to allow both educators and their students check written work for improper citation or misappropriated content. More information about 'Turnitin' can be found at http://turnitin.com/static/index.html (http://turnitin.com/static/index.html)

Moderation of marks The Business School must ensure that the processes of assessment are fair and are designed to maintain the standards of the School and its students. The School follows the UWA marks and grades distribution:

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Unit Outline - ACCT2331 Taxation

Higher distinction

(HD)

80-100%

Distinction

(D)

70-79%

Credit Pass

(CR)

60-69%

Pass

(P)

50-59%

Fail

(N+)

45-49%

Fail

(N)

0-44%

Failed component

(FC)



The moderation of marks to ensure comparability between classes is an acceptable academic practice. The School and Board of Examiners have the right to moderate marks where it is considered necessary to maintain consistency and fairness.

Requirements Texts Readings and learning support materials are accessible in LMS.

Other CFA® University Affiliation Program Students who are considering enrolling in the CFA program should be aware that this unit embeds a portion of the CFA Program Candidate

Body

of

Knowledge™

http://www.cfainstitute.org/programs/cfaprogram/courseofstudy/pages/cbok.aspx

(https://www.cfainstitute.org/programs/cfa/curriculum/cbok)

Charter of student rights and responsibilities The Charter of Student Rights and Responsibilities upholds the fundamental rights of students who undertake their education at the University of Western Australia. The University's charter of Student Rights and Responsibilities is available at www.governance.uwa.edu.au/procedures/policies/policies-and-procedures?method=document&id=UP07/132 (http://www.governance.uwa.edu.au/procedures/policies/policies-and-procedures?method=document&id=UP07/132)

UniAccess UniAccess provides services and support to UWA students who wish to disclose a disability or a medical condition. Book to meet with a Disability Officer by contacting Student Wellbeing Reception 64882423, Student Central South Wing Level 1, opposite Campus News & Gis.

Information for students with disabilities The University has a range of support services, equipment and facilities for students with a disability. If you would like to receive advice on these services please email [email protected] (mailto:[email protected]) or visit www.uniaccess.uwa.edu.au (http://www.student.uwa.edu.au/experience/health/uniaccess)

Using peer feedback to assess team contributions The online tool SPARKPLUS may be to used to assess individual contributions to team work. You may be required to provide feedback to, and receive feedback from, your team members. Based on a series of answers from each team member SPARKPLUS automatically produces two weighting factors: your RPF and SAPA. The use of SPARKPLUS will be explained in class and more information is available on LMS.

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Quality assurance Your assessed work may also be used for quality assurance purposes, such as to assess the level of achievement of learning outcomes as required for accreditation and audit purposes. The findings may be used to inform changes aimed at improving the quality of Business School programs. All material used for such processes will be treated as confidential, and the outcome will not affect your grade for the unit.

Approved calculators for examinations The University permits only the use of calculators in examinations when the calculator has an approved sticker and the examiner permits their use. If the student does not have an approved sticker on their calculator, they will not be permitted to use the calculator. Calculators can be approved at the Undergraduate Student Centre, the Postgraduate Student Centre or at Student Administration.

Further

information

is

available

on

the

Business

School

website

at

www.business.uwa.edu.au/students/assessments (http://www.business.uwa.edu.au/students/undergraduate/assessments)

eBooks and open book exams eBooks cannot be accessed at an examination. Please check your exam details and purchase a printed version of any book you would select to take into an open book exam.

Late submission of Assignments A penalty of 10 per cent of the total mark allocated for the assessment item is deducted per day for the first 7 days (including weekends and public holidays) aer which the assignment is not accepted. Each 24-hour block is recorded from the time the assignment is due. For example, if an assignment is late by three days and was given 45 out of a possible mark of 50, you would receive a mark of 30 out of 50 (a mark of 5 is deducted per day). If there are a number of tasks within an assessment item, the late penalty may be applied to the whole assessment item aer all tasks have been completed. If an assignment is graded Pass/Fail, failure to submit the assignment in time may result in the student not being permitted to take the final exam at the end of the semester or a teaching period and being unable to progress to the next level of the course or to graduate in the case where it is the final unit of the course;

Penalty for exceeding word limit Where a submitted assignment exceeds the word limit, a penalty of 1 per cent of the total mark allocated for the assessment task applies for each 1 per cent in excess of the word limit, or the marking ceases once the word limit is reached.

Academic conduct Academic Integrity is defined in the University Policy on Academic Conduct (http://www.governance.uwa.edu.au/procedures/policies/policies-and-procedures?policy=UP07%2F21) as "acting with the values of honesty, trust, fairness, respect and responsibility in learning, teaching and research". UWA expects the highest degree of academic conduct from all students. Penalties for breach of academic conduct vary according to seriousness of the case, and may include the requirement to do further work or repeat work; deduction of marks; the award of zero marks for the assessment; failure of one or more units; suspension from a course of study; exclusion from the University; non-conferral of a degree, diploma or other award to which the

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student would otherwise have been entitled. Students should familiarise themselves with the information and resources available regarding academic conduct and ethical scholarship (http://www.student.uwa.edu.au/learning/resources/ace/conduct) at UWA.

Special Considerations If your study has been adversely affected by illness or other significant circumstances outside of your control, you can apply for special consideration. Significant circumstances may include but are not limited to: serious illness or death of a member of the student's immediate family or household or of a close friend serious injury being a victim of a crime breakdown of relationship sudden loss of income or employment serious disruption to domestic arrangements The full policy and information on applying for special consideration is available at http://www.student.uwa.edu.au/course/exams/consideration (http://www.student.uwa.edu.au/course/exams/consideration)

Review and Appeal of Academic Decisions Relating to Students The full regulations governing appeal, and the process procedures are available on the Governance website (http://www.governance.uwa.edu.au/committees/appeals-committee/review-and-appeal-of-academic-decisions-relating-tostudents)

Compulsory online modules UWA has a wealth of resources available to support your student learning. These online modules are compulsory for many students: Academic Conduct Essentials (ACE) is compulsory for all new students about ethical scholarship and the expectations of correct academic conduct that UWA has of its students. Communication and Research Skills (CARS) is compulsory for all new undergraduate students which aims to assist students at UWA to develop communication and research skills in an academic context. Indigenous Study Essentials (INDG1000) is compulsory for all students completing a first year undergraduate course and introduces you to the shared learning space that UWA embodies. This learning space includes both western and Indigenous knowledge systems. More information about these units can be found on the Academic Conduct Essentials website (http://www.student.uwa.edu.au/learning/resources/ace)

Useful Contacts Student Guild The Guild represents all students enrolled at UWA and can help you in a number of ways. For financial, academic or welfare support please email Guild Student Assist at [email protected] (mailto:[email protected]). For all other queries email [email protected] (mailto:[email protected]) or visit the UWA Guild website (http://www.uwastudentguild.com/).

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