This unit explores the income tax regime in Australia, through a critical review of the Income Tax Assessment Act 1936 and Income Tax Assessment Act 1997, as well as other important legislative provisions relevant to the GST and Fringe Benefits Tax. The concepts that make up the notion of taxable income and how tax payable is calculated will be interrogated from a range of perspectives. Australia's Goods and Services Tax (the GST) and Fringe Benefits Tax (FBT) and its application in wide ranging settings will be reviewed. Key taxation issues relating to a range of business structures including sole traders, partnerships, trusts and companies will also be analysed in this unit.

Unit details

Study level:
Postgraduate
Credit points:
12
Unit code:
BLO5539

Prerequisites

BLO5540 - Business and Company Law

Learning Outcomes

On successful completion of this unit, students will be able to:
  1. Critically review relevant legislative provisions from the Income Tax Assessment Act 1936 and Income Tax Assessment Act 1997 in identified contexts and situations;  
  2. Argue convincingly drawing on key provisions from Australia's tax legislation legislative provisions to resolve complex problems;  
  3. Resolve tax problems by applying the role of the common law in Australia's income tax system and principles from key tax cases;  
  4. Critique the role of Taxation Rulings in Australia's income tax system and interpret Taxation Rulings on topics relevant to the unit;  
  5. Interrogate the interaction between the GST, Fringe Benefits Tax and Income Tax in Australia; and  
  6. Exemplify professional judgements and advise on issues relating to tax payable by individuals, and companies and other business structures in order to calculate an amount of tax payable or advise on a dispute that may alter the amount of tax payable.  

Assessment

Assessment type Description Grade
Assignment Group research assignment 30%
Test Online quiz (short answer theoretical and case study questions) 20%
Examination Open book final examination 50%

Required reading

Foundations of Taxation Law 12th ed
Barkoczy, S., (2020)
Oxford University Press, USA

Where to next?

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