LAWS19033 - Taxation Law and Practice A

General Information

Unit Synopsis

The Constitution and taxation power; the taxing formula; the concept, source and derivation of income at ordinary concepts; exempt income; non-assessable non-exempt income; allowable deductions; tax rates, tax offsets and levies; statutory inclusions in income including capital gains, trading stock; fringe benefits tax; goods and services tax; taxation of companies; partnerships and trusts; administrative provisions.

Details

Level Undergraduate
Unit Level 3
Credit Points 6
Student Contribution Band SCA Band 4
Fraction of Full-Time Student Load 0.125
Pre-requisites or Co-requisites

Prerequisite (ACCT11059 or ACCT11057) and (LAWS11030 or LAWS19031 or LAWS11054)

Important note: Students enrolled in a subsequent unit who failed their pre-requisite unit, should drop the subsequent unit before the census date or within 10 working days of Fail grade notification. Students who do not drop the unit in this timeframe cannot later drop the unit without academic and financial liability. See details in the Assessment Policy and Procedure (Higher Education Coursework).

Class Timetable View Unit Timetable
Residential School No Residential School

Unit Availabilities from Term 1 - 2024

Term 1 - 2024 Profile
Brisbane
Melbourne
Online
Sydney
Term 2 - 2024 Profile
Online
Term 1 - 2025 Profile
Brisbane
Melbourne
Online
Sydney
Term 2 - 2025 Profile
Online

Attendance Requirements

All on-campus students are expected to attend scheduled classes - in some units, these classes are identified as a mandatory (pass/fail) component and attendance is compulsory. International students, on a student visa, must maintain a full time study load and meet both attendance and academic progress requirements in each study period (satisfactory attendance for International students is defined as maintaining at least an 80% attendance record).

Assessment Overview

Recommended Student Time Commitment

Each 6-credit Undergraduate unit at CQUniversity requires an overall time commitment of an average of 12.5 hours of study per week, making a total of 150 hours for the unit.

Assessment Tasks

Assessment Task Weighting
1. Online Quiz(zes) 10%
2. Case Study 40%
3. Online Test 50%

This is a graded unit: your overall grade will be calculated from the marks or grades for each assessment task, based on the relative weightings shown in the table above. You must obtain an overall mark for the unit of at least 50%, or an overall grade of ‘pass’ in order to pass the unit. If any ‘pass/fail’ tasks are shown in the table above they must also be completed successfully (‘pass’ grade). You must also meet any minimum mark requirements specified for a particular assessment task, as detailed in the ‘assessment task’ section (note that in some instances, the minimum mark for a task may be greater than 50%).

Consult the University's Grades and Results Policy for more details of interim results and final grades

Past Exams

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Previous Feedback

Term 1 - 2024 : The overall satisfaction for students in the last offering of this course was 100.00% (`Agree` and `Strongly Agree` responses), based on a 24.39% response rate.

Feedback, Recommendations and Responses

Every unit is reviewed for enhancement each year. At the most recent review, the following staff and student feedback items were identified and recommendations were made.

Source: Student direct feedback in the evaluations and during the workshops.
Feedback
The workshop questions and the discussion during the workshop focuses on the practical aspect of taxation law. Students have provided feedback that they like the practical focus of the tax law to their own experience with preparing their tax return and their employment experience. Students comment that they have learned new things that they can incorporate when preparing their own tax return or talking to their tax agent.
Recommendation
That the emphasis on real world practical examples and what tax knowledge is required in public accounting practice must be maintained and further developed as the requirements for tax agents changes as a result of new laws relating to the code of conduct.
Action Taken
This term students have been exposed to the new code of conduct laws relating to tax agents and the impact this will have on their future as professional accountants. The emphasis being on obtaining and maintaining a good level of taxation law knowledge.
Source: Comments during the workshop where practical issues in taxation are discussed together with the workshop questions.
Feedback
Students have appreciated the practical approach being taken in the teaching of taxation law.
Recommendation
Maintaining this approach. It means that by using practical case studies which reflect the real-world experience, AI should have no impact as each question every term is different and all requiring calculation of taxable income and tax payable by individuals and companies.
Action Taken
In Progress
Unit learning Outcomes

On successful completion of this unit, you will be able to:

  1. Describe at a basic level the Australian income taxation system
  2. Explain the main concepts and principles of Australian income taxation law
  3. Apply taxation laws and prepare income tax returns of moderate complexity for individual taxpayers, companies, partnerships and trusts
  4. Discuss a range of other taxes in the Australian taxation regime, including fringe benefits tax and goods and services tax.

Alignment of Assessment Tasks to Learning Outcomes
Assessment Tasks Learning Outcomes
1 2 3 4
1 - Online Quiz(zes) • • •
2 - Case Study • • • •
3 - Online Test • • • •
Alignment of Graduate Attributes to Learning Outcomes
• Introductory Level
• Intermediate Level
• Graduate Level
Graduate Attributes Learning Outcomes
1 2 3 4
1 - Communication • • • •
2 - Problem Solving • • • •
3 - Critical Thinking • • • •
4 - Information Literacy • • • •
8 - Ethical practice • • • •
Alignment of Assessment Tasks to Graduate Attributes
• Introductory Level
• Intermediate Level
• Graduate Level
Assessment Tasks Graduate Attributes
1 2 3 4 5 6 7 8 9 10