SUBJECT OUTLINE

77938 Introduction to Taxation Law

Subject 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.

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%

Task: Midsession Multiple Choice Online Test

The test will be made up of 20 multiple-choice questions. Each question is worth 0.5 marks and

students will need to select the most correct answer for each question. The test will cover material in topics up to and including the end of 'FBT & Deductions (Part 1)'. It is an open book test.

The test will be available online via Canvas between 10:00am on Thursday 11 April 2024 until

11:59pm on Sunday 14 April 2024. Students can complete the test online at any time during this

period. The test will not be available outside of this period. Students will have 45 minutes to complete the test online once commenced.

Length: 20 multiple choice questions, 45 minutes (total time)

Due: The test will be available online via Canvas between 10:00am on Thursday 11 April 2024 until

11:59pm on Sunday 14 April 2024. Students can complete the test online at any time during this period. Students will have 45 minutes to complete the test online once commenced.

Criteria: Critical thinking under time-restricted conditions (SLO 1, 2, 4; GA 1, 3, 6)

Decision making in an efficient manner (SLO 1, 2, 4; GA 1, 2, 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% Task: The Professional Task will take the form of professional advice on a particular situation experienced by a client. Students will be provided with a description of the facts pertaining to the client’ssituation, and will be required to discuss and analyse the relevant tax implications. Topics covered in class and designated materials will provide useful guidance. Students will also be required to research relevant cases, legislation and tax rulings. Length: 2500 words (not including references) maximum word limit. Due: The Professional Task will be made available on CANVAS on Monday 22 April 2024. The assignment must be submitted by 5pm on Monday 6 May 2024 online via Turnitin on CANVAS. Late Assignments: Any assignment submitted after the due time on the due date may be penalised by way of loss of marks (five per cent (5%) of the marks for the assessment task will be deducted per day for assessment tasks submitted after the due date, including Saturdays, Sundays and public holidays). For assessment tasks submitted after the due date and time when the following day is a week-end or public holiday, the date of receipt will be deemed to be the first business day following the week-end or public holiday. Criteria: . Comprehension of the task (identifying relevant issues and demonstrating understanding of the task. Students may need to undertake independent research to understand the issues involved which requires self-management) (SLO 1, 2; GA 1, 3) . Identification, interpretation and application of the relevant legislation, case law and tax rulings (SLO 1, 2, 4; GA 1) . Critical analysis and development of arguments (identify, comprehend and evaluate relevant legal and factual issues as applied to the problem, ability to determine and assess strong and weak arguments and arrive at a reasoned conclusion.) (SLO 3, 4; GA 3) . Presentation / written expression (including correct spelling and grammar and correct referencing) (SLO 3; GA 5)

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%

Task: Students are required to complete a final exam held during the university exam period. The Exam is

Open-Book. Students may bring any relevant printed or written materials. Calculators may be used.   More detail on the contents of the exam will be provided in the last few weeks of session. The final     exam requires students to demonstrate that they can apply relevant tax rules to solve problems for     clients. This will require them to not only demonstrate the understanding of the content of the subject but also demonstrate their ability to apply their understanding of tax law to solve tax problems they     may encounter in future commercial practice. Students will need to undertake independent study and preparation prior to the exam which may require independent research to understand issues

commonly arising in tax problems.

Length: 2,000 words

Due: UTS Exam Period

Criteria: .  Communicating assumptions and arguments regarding tax liability (SLO 1, 2, 3; GA 5)

. Determining accurate calculations of taxation liability (SLO 1, 2, 4: GA 1)

. Reflecting an understanding of fringe benefits tax, basic principles of GST and the impact of taxation on different business structures (SLO 1, 2; GA 1)

. Critically analysing economic, social and legal issues which impact the calculation of taxation (SLO 3; GA 3)