This unit aims to foster an understanding of the policy, principles and practice that underpin the Australian taxation system. The main emphasis is on taxation principles associated with the Income Tax Assessment Act, 1936 and 1997 as amended, together with those acts which are complementary to the Assessment Act. The unit provides students with the skills and expertise to tread more confidently through the tax law maze and enhance student’s ability to identify and evaluate taxation issues and tax planning opportunities.
Students who successfully complete this unit will be able to:
1. Critically evaluate the various principles of taxation based on the taxation legislation and landmark taxation decisions issued by the courts and the Administrative Appeals Tribunal and the application of the key administrative provisions of the Australian taxation system.
2. Apply advanced knowledge of the principles that distinguish between the concepts of income, capital and gifts and general and specific deductions; and incorporate these into a tax planning environment.
3. Critically analyse the complexities of taxation principles in relation to various taxable entities and analyse and critically address the key issues related to tax planning opportunities.
4. Apply a knowledge of research principles to work individually or collaboratively in diverse groups to research and develop appropriate and relevant solutions to taxation issues and problems.