LAW381 Taxation (8)
CSU Discipline Area: Management (MANAG)
Duration: One session
Abstract:
The fundamentals of income tax law and practice are covered. The basic ideas of assessable income including capital gains, allowable deductions and the essentials of tax accounting are examined in the context of their impact on businesses and taxpayers in general. Goods and Services Tax and Fringe Benefits Tax are also considered.
+ Subject Availability Modes and Locations
No offerings have been identified for this subject in 2013.Continuing students should consult the SAL for current offering details prior to contacting their course coordinator: LAW381
Where differences exist between the handbook and the SAL, the SAL should be taken as containing the correct subject offering details.
Assumed Knowledge:
Enrolment restrictions:
Bachelor of Business Studies students only. Not available to students who have completed LAW320 , LAW301 or LAW380 .
Objectives:
Upon successful completion of this subject, students should:
- be able to apply legislation, case law and administrative provisions as they relate to the underlying principles of Australian income tax law and practice;
- be able to use online resources including the Australian Taxation Office website;
- be able to maintain relevant records necessary for the preparation of tax returns; and
- be able to give professional advice regarding the taxation of personal services income and income from business.
Syllabus:
The subject will cover the following topics:
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, tax offsets). Tax accounting (when income is derived and deductions are incurred, trading stock, calculation of tax payable, including exempt income and tax rates, fringe benefits tax, overview of Goods and Services Tax).
The information contained in the 2013 CSU Handbook was accurate at the date of publication: 24 April 2013. The University reserves the right to vary the information at any time without notice.