77938 Introduction to Taxation Law
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Credit points: 6 cp
Subject level:
Postgraduate
Result type: Grade and marksRequisite(s): ((22 credit points of completed study in spk(s): C07122 Graduate Diploma Legal Studies OR 22 credit points of completed study in spk(s): C04264 Master of Legal Studies)) OR ((94 credit points of completed study in spk(s): C04236 Juris Doctor OR 142 credit points of completed study in spk(s): C04250 Juris Doctor Master of Business Administration OR 94 credit points of completed study in spk(s): C04363 Juris Doctor Master of Intellectual Property OR 94 credit points of completed study in spk(s): C04364 Juris Doctor Graduate Certificate Trade Mark Law and Practice) AND 70106c Principles of Public International Law AND 70107c Principles of Company Law) OR (94 credit points of completed study in spk(s): C04320 Juris Doctor Graduate Certificate Professional Legal Practice AND 70107 Principles of Company Law)
The lower case 'c' after the subject code indicates that the subject is a corequisite. See definitions for details.
These requisites may not apply to students in certain courses. See access conditions.
Description
This subject acquaints students with Australian taxation law in a practical business environment. The focus of the syllabus is on the application of tax law concepts in a professional accounting setting. It aims to develop students' conceptual and analytical skills and an appreciation of the Australian tax system. It provides a general analysis of the current tax system and consideration of the many changes it is presently undergoing with an emphasis on the implications for the commercial world. The subject looks at the Income Tax Assessment Act, the Tax Law Reform Project and the New Tax System. Particular concepts to be considered include: taxable income, income, deductions, capital gains tax, trusts, partnerships, companies and shareholders, tax accounting, tax planning and anti-avoidance provisions, fringe benefits tax and goods and services tax.
Subject learning objectives (SLOs)
Upon successful completion of this subject students should be able to:
| 1. | Understand the concept of taxable income (including assessable income, deductions, tax offsets and tax payable), the taxation of companies, trusts and partnerships and the administration of the Australian taxation system; |
|---|---|
| 2. | Demonstrate a knowledge of Capital Gains Tax, taxation planning, Fringe Benefits Tax and Goods and Services Tax; |
| 3. | Communicate knowledge of taxation law both in writing and orally clearly and be open to critical analysis of own ideas and others; |
| 4. | Interpret relevant taxation legislation and rules accurately and apply to problem scenarios. |
Course intended learning outcomes (CILOs)
This subject also contributes specifically to the development of the following graduate attributes which reflect the course intended learning outcomes:
- Legal Knowledge
An advanced and integrated understanding of a complex body of legal knowledge including:
a. The Australian colonial and post-colonial legal system, international and comparative contexts, theoretical and technical knowledge;
b. The broader contexts within which legal issues arise and the law operates including cultural awareness, social justice and policy;
c. The principles and values of justice and ethical practices in lawyers' roles;
d. The impact of Anglo-Australian laws on Indigenous peoples, including their historical origins in the process of colonisation and ongoing impact; and
e. Contemporary developments in law and its professional practice. (1.1) - Ethics and Professional Responsibility
An advanced and integrated capacity to value and promote honesty, integrity, cultural respect, accountability, public service and ethical standards including:
a. An understanding of approaches to ethical decision making;
b. An understanding of the rules of professional responsibility;
c. An ability to reflect upon and respond to ethical challenges in practice;
d. A developing ability to engage in the profession of law and to exercise professional judgment; and
e. An ability to reflect on and engage constructively with diversity in practice. (2.1) - Critical Analysis and Evaluation
A capacity to think critically, strategically and creatively, including an ability to:
a. Identify and articulate complex legal issues in context, including the skill of critical reading and writing;
b. Apply reasoning and research to generate appropriate theoretical and practical responses; and
c. Demonstrate sophisticated cognitive and creative skills in approaching complex legal issues and generating appropriate responses. (3.1) - Communication
Well-developed professional and appropriate communication skills including:
a. Highly effective use of the English language to convey legal ideas and views to different and diverse audiences and environments;
b. An ability to inform, analyse, report and persuade;
c. An ability to strategically select an appropriate medium and message;
d. A cognisance of advanced communication technologies and willingness to adopt where appropriate; and
e. An ability to respond respectfully. (5.1)
Teaching and learning strategies
Strategy 1: Preparing for professional practice in taxation law
By completing readings and preparatory work prior to each class, students establish a strong foundational understanding of key issues and controversies of taxation law. Preparation allows students to better engage with complex content. As part of preparation, students are required to respond to questions prior to class. In approaching the questions the workbook and textbook may be used as a starting point in conjunction with lectures, together with cases, the legislation itself, and all other research materials to which you have access. You, as students, need to develop the skill of identifying the issues in the problems and researching the materials widely in order to find a solution. Sometimes this will involve reading cases, sometimes close examination of the legislation and sometimes researching specialist areas using the resources on the Internet or within the library services. More often than not, it will involve all of these resources.
Online learning and preparation occurs from Week 1 onwards. Online materials will include précis outlining sources of law, research skills in accessing tax materials, jurisdictional issues such as residence and source and constitutional power to tax.
Strategy 2: Developing critical analysis through research of case law, tax rules and legislation
Students undertake research of relevant legislation, tax rules and case law. Research is synthesised and summarised by students and applied in practically-oriented hypotheticals and problems. Essential to student learning is mastery of literacy and numeracy skills, allowing students to analyse facts, explain assumptions and determining taxpayer liability. This will also involve a development of students’ ability to apply law alongside mathematical calculation to produce reliable numerical and legal outcomes.
Strategy 3: Active learning through problem solving
To effectively grasp the core concepts of taxation law, students are encouraged to actively engage with problems throughout the subject. Active learning is the only way to test and amend understanding of tax rules, case law and legislation, based on regular feedback during class. By responding to preparatory questions and completing assessable problem questions, students are able to actively learn how to reliably calculate tax liability for hypothetical clients. This process may involve determining assessable income, and understanding how this is determined, as well as specific and general deductions. Other core concepts are tested and mastered by applying knowledge through problem solving.
Strategy 4: Class participation
Students will be expected to attend class. Students should prepare answers to the homework questions and be prepared to give considered answers in class when called upon to do so. Students may like to work with buddies or groups when researching the homework, but students must take responsibility for the final answers.
Students are expected to read texts, legislation, cases and articles available in the library, on the internet and in current journals. A workbook is included herein. Students will be responsible for ensuring that the booklet is brought to every class. Students should try to answer the problems before their lectures and then engage in discussion when the answers are presented. Students receive ongoing feedback on their understanding of core concepts by active participation in class discussion, which involves engaging with the teacher and peers. Students are encouraged to ask questions in lectures and to bring their problems to their lecturers in class. This aids and stimulates the whole class.
Strategy 5: Feedback to encourage critical reflection and self-improvement
Feedback is provided throughout the session by teachers and peers. Feedback comes in a number of forms, including responses to completed preparatory questions and discussion during class. Students are also encouraged to deepen their understanding of subject content by posing questions to teachers and peers throughout the session. Formal feedback is provided by teachers for each assessment. Informal feedback is provided via in class and online discussion with peers and the teacher.
Content (topics)
- Introduction to the Taxation System
- Calculation of Income Tax
- Residence and Source
- Assessable Income (Ordinary Income and Statutory Income)
- Capital Gains Tax
- Deductions (General and Specific)
- Trading Stock
- Tax Accounting
- Small Business Entity System
- Taxation of Partnerships
- Taxation of Trusts
- Taxation of Companies and Shareholders
- Taxation Administration
- Tax Planning and Anti-Avoidance
- Fringe Benefits Tax
- Goods and Services Tax
Assessment
Assessment task 1: Mid-session Online Multiple Choice Test
| Objective(s): | This task addresses the following subject learning objectives: 1, 2 and 4 This task contributes specifically to the development of the following graduate attributes: 1.1, 2.1 and 3.1 |
|---|---|
| Weight: | 10% |
| Length: | 20 multiple choice questions, 45 minutes (total time) |
| Criteria: | Critical thinking under time-restricted conditions (SLO 1, 2, 4; GA 1, 3, 6) Demonstrate knowledge and a sound understanding of key tax law concepts (SLO 1, 2, 4; GA 1, 3) |
Assessment task 2: Professional Task
| Objective(s): | This task addresses the following subject learning objectives: 1, 2, 3 and 4 This task contributes specifically to the development of the following graduate attributes: 1.1, 3.1 and 5.1 |
|---|---|
| Weight: | 40% |
| Length: | 2500 words (not including references) maximum word limit. |
| Criteria: |
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Assessment task 3: Final Examination
| Objective(s): | This task addresses the following subject learning objectives: 1, 2, 3 and 4 This task contributes specifically to the development of the following graduate attributes: 1.1, 3.1 and 5.1 |
|---|---|
| Weight: | 50% |
| Length: | 2,000 words |
| Criteria: |
|
Minimum requirements
To obtain a pass in this subject, students must obtain a total of at least 50 marks from all components of the assessment.
Required texts
Required Text:
- Principles of Taxation Law (latest edition), Sadiq et al, Thomson Reuters
Students are required to complete prescribed readings prior to each class. The prescribed readings are listed in the Reading Guide which is available on CANVAS.
Required Legislation:
Students are required to have an up to date version of the income tax legislation and should bring it to every class.
Required legislation either-
- Core Tax Legislation & Study Guide (Oxford University Press) (latest edition);
or
- Fundamental Tax Legislation (Thomson Reuters) (latest edition)
or
available online via http://www.austlii.edu.au/ or alternatively https://www.legislation.gov.au/
Cases, Rulings and additional statutory materials:
- Most cases can be accessed via the Lexis Advance Pacific database available on the UTS Library website: https://databases.lib.uts.edu.au/search_databases.py?subcategory_id=221
- Tax rulings and other administrative materials are available on the ATO's legal database: https://www.ato.gov.au/law/#Law
- Statutory material is also available at the Federal Register of Legislation: https://www.legislation.gov.au/ ,and the AustLII website: http://www.austlii.edu.au/
Recommended texts
Case Books:
-
Stephen Barkoczy, Australian Tax Casebook,(latest edition), Oxford University Press, South Melbourne
- Australian Tax Analysis: Cases, Commentary, Commercial Applications and Questions, Coleman, Hart, et al, latest Edition, Thomson Reuters
- Australian Taxation Law Cases, Krever, Latest Edition Thomson Reuters
Reference Books:
- Australian Tax Handbook (latest edition), Thomson Reuters
- Australian Master Tax Guide , Latest Edition Wolters Kluwer
- Foundations of Taxation Law (latest edition), Barkoczy, Oxford University Press
- Principles of Taxation Law (latest edition), Sadiq, Coleman et ors, Thomson Reuters, General Edition
- Tax Questions and Answers (latest edition), Hodgson et ors, Thomson Reuters
- Australian Tax (latest edition), Paul Kenny, Lexis Nexis Butterworths
Study Guides:
- Master Tax Examples, latest Edition CCH
- Successful Tax Study latest edition, Obst, and Hanegbi, Thomson ATP
- Australian Taxation Study Manual: Questions and Suggested Solutions, Nethercott, Richardson and Devos, latest edition Oxford University Press
- LexisNexis Study Guide: Taxation & Revenue Law, Kendall, latest edition, LexisNexis
- Nutshell: Tax Law, Spisto, Thomson latest edition
- Thomson Tax Examples latest edition, Koit, Thomson
- Income Tax & GST Strategies Manual latest edition, Deutsch and Orow, Thomson
GST:
- Australian GST Handbook latest edn, Hill, Thomson ATP
- GST Legislation Plus latest edition, Richard Krever, Thomson ATP
- Australian GST Legislation with Overview latest edition, Oxford University Press
- Australian Master GST Guide latest edition, Philip McCouat, Oxford University Press
OTHER:
- Australian Federal Tax Reporter, CCH, (Looseleaf Service)
- Financial Planning latest edition, Monahan and Perkins, LexisNexis
- FBT: A Practical Guide latest edition, Oxford University Press
- Australian FBT Handbook Koit, O’Flynn & Fitton, Thomson ATP
- Capital Gains Tax, Wilson, Thomson ATP, (Looseleaf Service)
- Australian Superannuation Handbook, Jones, latest edition, Thomson ATP
- Legal Research & Writing, Tjaden,Latest Edition, Federation Press
- LexisNexis Study Guide: Trusts, Barkehall Thomas & Vann,Latest Edition, LexisNexis
On Line Research
An important area of this subject involves the skill of finding appropriate legislation, tax rulings and cases. To assist you we will make available on CANVAS a number of links to important sites. During lectures and tutorials, students will be informed where cases may be found. Students are also expected to use the library and the internet.
Internet-based Legal Resources
- www.ato.gov.au
This is probably the best site for our course, being the homepag of the Australian Tax Office. - www.austlii.edu.au
AustLII is a full-text Australian and World Case Law and Legislation Database jointly owned and operated by the faculties of law of UTS and UNSW. - www.brw.com.au
Business Review Weekly’s website. Online access to one of Australia’s best Business and Law magazines, including an excellent law section with access to BRW’s legal articles and law notes written in conjunction with Freehills. - www.lawportal.com.au
LawPortal is an Internet-based legal resources navigator offering access to AustLII, SCALE plus, daily Australia-wide court listings, as well as links to all major national newspapers. - http://scaleplus.law.gov.au
SCALEplus is the legal information retrieval service owned by the Australian Attorney General’s Department. - www.findlaw.com
American legal resource website. - www.law.com
American legal resource website.
Other resources
UTS LIBRARY
The UTS Library has a wide range of services and resources that you will find useful, including law reports, law journals, textbooks, and access to online resources www.lib.uts.edu.au.
Relevant materials in this subject may also be available on Closed Reserve, which is a special borrowing service that allows you to use the material for two hours or overnight, to ensure the materials are available to many students. Materials on closed reserve are listed in the library catalogue by subject details and Subject Co-ordinator.
LEARNING SKILLS
The BELL (Becoming an Effective Lifelong Learner) website provides information, self-testing and links to help you develop your learning skills. Visit the BELL web site www.bell.uts.edu.au.
CANVAS
This subject has a CANVAS site (https://canvas.uts.edu.au/). The site may include announcements made in lectures, copies of lecture overheads/slides, and clarification of administrative and assignment matters. It is the responsibility of students to ensure they are registered on CANVAS for this subject, and regularly check CANVAS for announcements.
If you have difficulties accessing CANVAS, contact the ITD Helpdesk by phone on (02) 9514 2222 or email help.desk@uts.edu.au; and/or the Student Centre by phone on (02) 9514 3444 or via Service Desk at https://servicedesk.uts.edu.au/CAisd/pdmweb.exe.
UTS STUDENT CENTRE
Staff at the Student Centre will provide general student administration related information and advice to students, as well as specific administration services for Law students.
Students with inquiries and/or wishing to query the process of administrative applications should contact the Student Centre directly online via Ask UTS www.ask.uts.edu.au, or by phone on (02) 9514 3444.
The Student Centres are located in Building 5 (Level 1) or Building 10 (Level 2). Opening hours of the Student Centres may vary, and it is better to check this information at www.uts.edu.au/students/centres.html PRIOR to visiting the centre.