Taxation Principles and Planning
Duration
- One Semester or equivalent
Contact hours
- 36
On-campus unit delivery combines face-to-face and digital learning.
2022 teaching periods
Hawthorn Higher Ed. Semester 2 |
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Dates: Results: Last self enrolment: Census: Last withdraw without fail: |
Swinburne Online Teaching Period 3 |
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Dates: Results: Last self enrolment: Census: Last withdraw without fail: |
Corequisites
Concurrent Pre-requisites :
These unit/s can be either completed prior to this unit commencing or taken at the same time.
or
or
Admission to one of the following courses.
Graduate Certificate of Financial Planning
Graduate Diploma of Financial Planning
Master of Financial Planning
Graduate Diploma of Financial Planning
Master of Financial Planning
Aims and objectives
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.
Courses with unit
Unit information in detail
- Teaching methods, assessment, general skills outcomes and content.
Teaching methods
Face to Face Mode:
Scheduled hours: Class (12 x 3 hours)
Fully Online Mode:
Students are expected to spend 4 hrs per week in engagement online with learning activities and discussion boards; and other activities including independent study and assessment tasks for a total of approximately 150 hours
Student workload:
For all teaching and learning structures (both face to face and online), students are expected to spend an average of 150 hours per unit in total over the duration of the study period
This includes all:
• Scheduled teaching and learning events and activities (contact hours timetabled in a face-to-face teaching space) and scheduled online learning events (contact hours scheduled in an online teaching space), and
• Non-scheduled learning events and activities (including directed online learning activities, assessments, independent study, student group meetings, and research)
Students are expected to spend 4 hrs per week in engagement online with learning activities and discussion boards; and other activities including independent study and assessment tasks for a total of approximately 150 hours
Student workload:
For all teaching and learning structures (both face to face and online), students are expected to spend an average of 150 hours per unit in total over the duration of the study period
This includes all:
• Scheduled teaching and learning events and activities (contact hours timetabled in a face-to-face teaching space) and scheduled online learning events (contact hours scheduled in an online teaching space), and
• Non-scheduled learning events and activities (including directed online learning activities, assessments, independent study, student group meetings, and research)
To be successful, students should:
• Read all prescribed materials and/or view videos in preparation for each class
• Attend and engage in all scheduled classes (face to face or online)
• Start assessment tasks well ahead of the due date, and submit assessments promptly
• Read / listen to all feedback carefully, and consider it for future assessment
• Engage with fellow students and teaching staff (don’t hesitate to ask questions)
Assessment
Research Assignment / Class Presentation (Group) 20-30%
Tests (Individual) 20-30%
Examination (Individual) 40- 60%
Tests (Individual) 20-30%
Examination (Individual) 40- 60%
General skills outcomes
During this unit students will receive feedback on the following key generic skills:
- Teamwork skills
- Analysis skills
- Problem solving skills
- Communications skills
- Ability to tackle unfamiliar problems
- Ability to work independently
Content
• Fundamental income tax principles
• Tax administration (TPB & TASA – Ethical Responsibilities)
• Concepts of income, specific income types
• Income and capital
• Capital gains tax
• Fringe benefits tax
• Source, residency and derivation
• International tax agreements (DTA’s)
• General deductions and non-deductions
• Specific deductions
• Taxation of companies and shareholders
• Taxation of individuals and partnerships
• Taxation of Trusts and Superannuation and Tax Strategies in Financial Planning
• Tax administration (TPB & TASA – Ethical Responsibilities)
• Concepts of income, specific income types
• Income and capital
• Capital gains tax
• Fringe benefits tax
• Source, residency and derivation
• International tax agreements (DTA’s)
• General deductions and non-deductions
• Specific deductions
• Taxation of companies and shareholders
• Taxation of individuals and partnerships
• Taxation of Trusts and Superannuation and Tax Strategies in Financial Planning
Study resources
- Reading materials.
Reading materials
Students are advised to check the unit outline in the relevant teaching period for appropriate textbooks and further reading.