Tax Law Concepts and Application

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Abstract

Students will interpret relevant tax law and apply legal resources to practical business scenarios, typical of those encountered by professional accountants, to produce client advice. The focus of this subject is on the application of taxation law in particular, the concepts of assessable income, allowable deductions, capital gains tax, tax rates and tax offsets. Special provisions of taxation eg. repairs, depreciation, and capital allowances are also examined. Fringe benefits tax and the Goods and Services Tax, including its impact on business, is also examined.

Syllabus

Assessable income;Allowable deductions; Capital gains tax;Tax rates and tax offsets;Special provisions of taxation (repairs, depreciation, and capital allowances);Fringe benefits tax;Goods and Services Tax ( including BAS).

Learning outcomes

Upon successful completion of this subject, students should:

be able to identify and explain the rules of law and identify the potential tension between compliance with ethical principles, and the interrelationship between laws, regulations, and the public interest in the context of taxation law;

be able to demonstrate a capacity to engage and use legal research skills to apply the law to legal problems relating to taxation so as to reach a solution;

be able to explain how information and communication technology enhances the efficiency and effectiveness of reporting and communication with the Australian Taxation Office;

be able to analyse legal rules so as to differentiate between possible outcomes to the legal issues arising from novel fact situations;

be able to explain the importance of active listening and effective interviewing techniques to engage with clients in order to elicit facts in respect to a tax problem; and

be able to communicate clearly and concisely in a range of formal and informal situations and settings appropriate for clients and other stakeholders.

Enrolment restrictions

Pre-requisite

Incompatible