LAW505 Taxation 1 (8)

The focus of this subject is on the on concepts of assessable income, allowable deductions, capital gains tax, tax rates and tax offsets. Special provisions of taxation viz repairs, depreciation, and capital allowances are also examined. Fringe benefits tax is explored, and the Goods and Services Tax including its impact on business is also examined.

Availability

Session 1 (30)
On Campus
CSU Study Centre Brisbane
CSU Study Centre Melbourne
CSU Study Centre Sydney
Port Macquarie Campus
Online
Wagga Wagga Campus
Session 2 (60)
On Campus
CSU Study Centre Brisbane
CSU Study Centre Melbourne
CSU Study Centre Sydney

Continuing students should consult the SAL for current offering details: LAW505. Where differences exist between the Handbook and the SAL, the SAL should be taken as containing the correct subject offering details.

Subject Information

Grading System

HD/FL

Duration

One session

School

School of Accounting and Finance

Enrolment Restrictions

Postgraduate students only. Not available to students who have completed LAW514.

Prerequisites

LAW504 or LAW511

Subject Relationships

LAW514 Subjects have significant overlapping content.

Incompatible Subjects

LAW514

Learning Outcomes

Upon successful completion of this subject, students should:
  • be able to identify and explain the rules of law relating to taxation law topics covered in the subject;
  • be able demonstrate a capacity to engage in legal research;
  • be able to use legal research skills to apply the law to legal problems relating to taxation so as to reach a solution; and
  • be able to analyse legal rules so as to differentiate between possible outcomes to the legal issues arising from novel fact situations.

Syllabus

This subject will cover the following topics:
  • Background to the Australian taxation system and the significance of the components;
  • Income - concepts of income, income from providing services, remuneration of employees, income from carrying on a business, income from the use of property, income from the disposal of property, exempt income and income from capital gains;
  • Outgoings - fundamentals, general allowable deductions, specific deductions (repairs, depreciation, capital allowances, bad debts, past years losses, etc);
  • Measurement of Taxable Income - principles of tax accounting, timing of derivation of assessable income, recognition of allowable deductions, trading stock;
  • Fringe Benefits Tax - tax on employers;
  • GST compliance and management requirements.

Indicative Assessment

The following table summarises the assessment tasks for the online offering of LAW505 in Session 2 2019. Please note this is a guide only. Assessment tasks are regularly updated and can also differ to suit the mode of study (online or on campus).

Item Number
Title
Value %
1
Online test
5
2
Problem solving questions
35
3
Final exam
60

The information contained in the CSU Handbook was accurate at the date of publication: February 2020. The University reserves the right to vary the information at any time without notice.

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