Examine the key principles relating to taxation law in Australia alongside the relevant statutes, case law, and taxation rulings issued by the Australian Taxation Office. Get to know taxation resources and use them to solve business problems.
Established in 1991 after amalgamating four eastern Australian Catholic tertiary institutes, Australian Catholic University now has seven campuses, from Brisbane to Melbourne and welcomes students of all beliefs. Specialising in arts, business, education, health sciences, law, theology and philosophy, ACU encourages its students to think critically and ethically and bring change to their communities and offer this online through Open Universities Australia.
There are two major reasons for business students to learn about Taxation. First, most taxpayers are subject to income tax, and to function in a business or investment environment, it is useful to know some basic principles of taxation law. Second, one of the major fields of accounting and financial practice is taxation law. Against this backdrop the subject examines taxation imposed by statute: the Income Tax Assessment Act 1997 (Cth) and the Income Tax Assessment Act 1936 (Cth), the Goods and Services Tax (GST) and the Fringe Benefits Tax (FBT) and the application of case law and taxation rulings issued by the Australian Tax Office. The subject also examines the key principles relating to taxation law in Australia (i.e. what is income, what is deductible, how various entities are taxed and the administration of the taxation system, and the impact of tax offsets).
Assessment is an integral part of the learning process. This unit is assessed by two assignments and a final examination. Assessment tasks in this unit are aimed at measuring and developing student’s achievement of both the learning outcomes and graduate attributes noted above. The assessment in this unit may include, but are not limited to quizzes, essays, reports, examinations, or case studies.