Abstract
This subject will explore the law relating to the Australian taxation system. It will investigate the concepts of taxation law such as assessable income including capital gains, allowable deductions and tax formulas. The Goods and Services tax regime and Fringe Benefits Tax will also be examined. Students will learn both … For more content click the Read More button below.
Syllabus
assessable income: ordinary income including the effect of carrying on a business; statutory income including capital gains;deductions: general deductions; specific deductions, statutory expansions/clarification including: capital cost write-offs, depreciation and repairs and tax offsets; andtax accounting: when income is derived and deductions are incurred, trading stock, calculation of tax payable including … For more content click the Read More button below.
Learning outcomes
Upon successful completion of this subject, students should:
1.
be able to locate and analyse the sources of taxation law in Australia;
2.
be able to describe and access the Australian regulatory taxation system and compliance regime;
3.
be able to interpret legislation to compute taxable income and allowable deductions to determine taxation liabilities and evaluate appropriate offsets;
4.
be able to critically evaluate the law relating to the goods and services taxation regime and calculate the relevant tax liabilities;
5.
be able to critically evaluate the law relating to capital gains taxation and trading stock and calculate the relevant tax liabilities; and
6.
be able to critically evaluate the law relating to fringe benefits and calculate the relevant tax liabilities.