| Effective Term: | 2025/02 |
| Institute / School : | Institute of Innovation, Science & Sustainability |
| Unit Title: | Taxation Law and Practice |
| Unit ID: | BULAW5916 |
| Credit Points: | 15.00 |
| Prerequisite(s): | (At least 60 credit points from a Business subject-area at 5000-5999 level) (BUACC5930 or BULAW5914) |
| Co-requisite(s): | Nil |
| Exclusion(s): | Nil |
| ASCED: | 091103 |
| Other Change: | |
| Brief description of the Unit |
This unit seeks to provide an understanding and knowledge of the principles and practice of income tax law in Australia. It is designed to acquaint students with the fundamentals of Australias principal revenue raising legislation - the Income Tax Assessment Acts, 1936, 1997 (as amended) [ITAA36 or ITAA97] and the increasing volumes of allied legislation. The primary focus will be the interaction of legal principles and administrative rules that determine a taxable amount; viz, taxable income. Then the unit considers complications that arise by virtue of a taxpayers status - ie, whether the taxpayer is taxed as an individual, a partner, a company or shareholder, a beneficiary or trustee of an estate. The unit deals with the Taxation Commissioners enforcement armoury, the anti-avoidance provisions, penalties and prosecutions and the taxpayers rights of appeal. It also examines the taxation of capital gains and briefly shows how employee benefits and the Goods and Services Tax interact with the Income Tax Acts. |
| Grade Scheme: | Graded (HD, D, C, P, MF, F, XF) |
| Work Experience Indicator: |
| No work experience |
| Placement Component: No |
| Supplementary Assessment:Yes |
| Where supplementary assessment is available a student must have failed overall in the Unit but gained a final mark of 45 per cent or above, has completed all major assessment tasks (including all sub-components where a task has multiple parts) as specified in the Unit Description and is not eligible for any other form of supplementary assessment |
| Course Level: |
| Level of Unit in Course | AQF Level(s) of Course | | 5 | 6 | 7 | 8 | 9 | 10 | | Introductory | | | | | | | | Intermediate | | | | | | | | Advanced | | | | |  | |
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| Learning Outcomes: |
| Knowledge: |
| K1. | Explain how revenue law is created (sources of law) and changed or developed (through precedent, statutory interpretation and legislation) |
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| K2. | Identify the core provisions of the income tax legislation |
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| K3. | Distinguish between and explain why some incomings/outgoings are assessable/deductible and others are not |
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| K4. | Compare and contrast accounting principles and principles of taxation |
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| K5. | Solve problem scenarios through application of legal principles and rules |
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| Skills: |
| S1. | Analyse fact scenarios and perceive the range of tax issues connected with transactions |
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| S2. | Apply principles and authorities of taxation to commercial scenarios |
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| S3. | Develop analytical, critical thinking and problem solving skills in taxation |
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| S4. | Develop independent research, oral and written expression skills |
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| Application of knowledge and skills: |
| A1. | Apply the tax legislation and authorities to moderately complex fact scenarios |
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| A2. | Calculate taxable income and tax liability |
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| A3. | Communicate tax consequences of prospective courses of action |
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| Unit Content: |
•Foundation of Taxation
•Income
•Capital Gains Tax
•Deductions
•Capital Allowances and Trading Stock
•Taxation of Partnerships and Companies
•Taxation of Trusts
•Fringe Benefits
•Goods and Services Taxation
•Tax Administration and/or Anti-Avoidance |
| Graduate Attributes: |
| Federation University recognises that students require key transferable employability skills to prepare them for their future workplace and society. FEDTASKS (Transferable Attributes Skills and Knowledge) provide a targeted focus on five key transferable Attributes, Skills, and Knowledge that are be embedded within curriculum, developed gradually towards successful measures and interlinked with cross-discipline and Co-operative Learning opportunities. One or more FEDTASK, transferable Attributes, Skills or Knowledge must be evident in the specified learning outcomes and assessment for each FedUni Unit, and all must be directly assessed in each Course.
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| FED TASK and descriptor | Development and acquisition of FEDTASKS in the Unit | | Level | FEDTASK 1
Interpersonal | Students at this level will demonstrate an advanced ability in a range of contexts to effectively communicate, interact and work with others both individually and in groups. Students will be required to display high level skills in-person and/or online in: • Using and demonstrating a high level of verbal and non-verbal communication • Demonstrating a mastery of listening for meaning and influencing via active listening • Demonstrating and showing empathy for others • High order skills in negotiating and conflict resolution skills\\ • Demonstrating mastery of working respectfully in cross-cultural and diverse teams. | 1 - Yes | FEDTASK 2
Leadership | Students at this level will demonstrate a mastery in professional skills and behaviours in leading others. • Creating and sustaining a collegial environment • Demonstrating a high level of self -awareness and the ability to self-reflect and justify decisions • Inspiring and initiating opportunities to lead others • Making informed professional decisions • Demonstrating initiative in new professional situations. | 1 - Yes | FEDTASK 3
Critical Thinking and Creativity | Students at this level will demonstrate high level skills in working in complexity and ambiguity using the imagination to create new ideas. Students will be required to display skills in: • Reflecting critically to generate and consider complex ideas and concepts at an abstract level • Analysing complex and abstract ideas, concepts and information • Communicate alternative perspectives to justify complex ideas • Demonstrate a mastery of challenging conventional thinking to clarify complex concepts • Forming creative solutions in problem solving to new situations for further learning. | 1 - Yes | FEDTASK 4
Digital Literacy | Students at this level will demonstrate the ability to work competently across a wide range of tools, platforms and applications to achieve a range of tasks. Students will be required to display skills in: • Mastering, exploring, evaluating, managing, curating, organising and sharing digital information professionally • Collating, managing complex data, accessing and using digital data securely • Receiving and responding professionally to messages in a range of professional digital media • Contributing competently and professionally to digital teams and working groups • Participating at a high level in digital learning opportunities. | 1 - Yes | FEDTASK 5
sustainable and Ethical Mindset | Students at this level will demonstrate a mastery of considering and assessing the consequences and impact of ideas and actions in enacting professional ethical and sustainable decisions. Students will be required to display skills in: • Demonstrate informed judgment making that considers the impact of devising complex solutions in ambiguous global economic environmental and societal contexts • Professionally committing to the promulgation of social responsibility • Demonstrate the ability to evaluate ethical, socially responsible and/or sustainable challenges and generating and articulating responses • Communicating lifelong, life-wide and life-deep learning to be open to the diverse professional others • Generating, leading and implementing required actions to foster sustainability in their professional and personal life | 1 - Yes |
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| | Learning Outcomes Assessed | Assessment Tasks | Assessment Type | Weighting | | 1. | K1, K2, K3, S2, A1, A2 | Individual test | Test | 10-20% | | 2. | K2, K3, K4, K5, S1, S2, S4, A1, A2, A3 | Individual Assignment | Oral Presentation and / or Written Research Assignment | 20-30% | | 3. | K3, K4, K5, S1, S3, A1, A2, A3 | Individual test | Test / Final Assessment | 50-70% |
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