Course overview
This course will introduce students to income tax, goods and services tax and fringe benefits tax, and aims to satisfy the educational requirements of the professional accounting bodies. The course includes: introduction to the Tax Agent Services Act (2009); introduction to the income tax system; ordinary income; derivation of income; statutory income; exempt income; residence and source; introduction to capital gains tax; introduction to fringe benefits tax; introduction to the goods and services tax; general deductions; specific deductions; tax offsets; depreciation; trading stock; small business concessions; taxation treatment of partnerships, trusts, minors, companies including dividend imputation, and superannuation; introduction to international taxation; anti-avoidance provisions; tax planning; tax administration.
Course learning outcomes
- Discuss and apply the operation of the income tax, fringe benefits tax and goods and services tax systems and associated legislation, particularly with respect to topics covered in the syllabus.
- Discuss and apply case law to interpret the legislation.
- Prepare reasonably argued positions to justify application of the legislation and case law to factual scenarios.
- Describe basic tax planning.
- Explain the administrative aspects of taxation, including assessments, amendments, objections and appeals.
- Examine policy issues underpinning the income tax system.
- Demonstrate UniSA Business Enterprise Skills in the context of the Accounting discipline: Problem Solving (advanced level).