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LAW3131 Revenue Law and Practice II

Semester 2, 2013 External Toowoomba
Units : 1
Faculty or Section : Faculty of Business and Law
School or Department : School of Law
Version produced : 17 April 2014

Contents on this page

Staffing

Examiner: Tom Delany
Moderator: Toni Chardon

Requisites

Pre-requisite: LAW3130

Other requisites

Students are required to have access to a personal computer, e-mail capabilities and Internet access to UConnect. Current details of computer requirements can be found at http://www.usq.edu.au/current-students/support/computing/hardware.

Rationale

An understanding of the principles of taxation is one of the most important and useful tools for anyone seeking advancement to senior management status in the corporate world, to those providing accounting or financial services to business and to those seeking to be professional accountants or lawyers. It is also equally important for individuals in managing their personal affairs. This course builds on the principles of taxation law set out in LAW3130 Revenue Law and Practice and provides an opportunity for an advanced study of taxation law.

Synopsis

The material covered in the course will build upon the subject matter dealt with in the course LAW3130 Revenue Law and Practice and students will be expected to have retained a working knowledge of material covered in that course. This course primarily deals with taxation issues not covered in LAW3130 in order to provide students with a greater understanding and knowledge of the Australian taxation system. Specifically it covers taxation of various business organisations (partnerships, trusts, companies); superannuation funds and termination payments; Fringe Benefits Tax; General and Specific Tax Avoidance rules; the ethical and professional responsibilities of tax agents; and some specialist tax topics including: international tax; the taxation of primary producers; advanced CGT issues; advanced GST issues; stamp duty; and payroll tax.

Objectives

On successful completion of this course, students should be able to:

  1. understand and apply the principles of taxation of trusts, companies, partnerships, superannuation funds, international transactions, stamp duty and primary production and other special taxpayers to factual scenarios as well as be able to perform calculations of tax payable
  2. explain the advantages and disadvantages of the various entity structures covered, as well as apply this knowledge to recommend a structure for a given factual situation
  3. demonstrate an understanding of international and comparative perspectives of taxation law through being able to articulate and apply the tax implications of transactions which have international aspects
  4. demonstrate ethical research and enquiry skills by explaining the boundaries of legitimate tax planning and effects of Part IVA (and other anti-avoidance provisions)
  5. describe and apply the ethical and professional responsibilities of tax agents and their obligations under the Tax Agents Services Act 2009 (TASA) and the Tax Agents Services Regulations 2009 (TASR)
  6. describe and apply to factual scenarios, the system of taxing fringe benefits, and perform necessary calculations in relation to the imposition of FBT
  7. become aware of, understand and be able to research any new developments in taxation law within the context of each module
  8. demonstrate academic and professional literacy skills such as legal research and statutory interpretation in both the assignment and examination
  9. demonstrate problem solving and critical thinking skills by analysing problems in tax law, including the application of the appropriate law to the problem and advising on the probable outcome
  10. demonstrate written communication skills in the assignment and examination.

Topics

Description Weighting(%)
1. Partnerships 9.00
2. Trusts 16.00
3. Company and shareholder taxation 16.00
4. Specialist tax topics (international tax, taxation of primary producers, advanced CGT issues, advanced GST issues, selected State and Territory taxes including stamp duty and payroll tax) 18.00
5. Tax planning, alienation of income, part IVA 9.00
6. Superannuation funds, termination payments, superannuation contributions 16.00
7. Fringe benefits tax 16.00

Text and materials required to be purchased or accessed

ALL textbooks and materials available to be purchased can be sourced from USQ's Online Bookshop (unless otherwise stated). (https://bookshop.usq.edu.au/bookweb/subject.cgi?year=2013&sem=02&subject1=LAW3131)

Please contact us for alternative purchase options from USQ Bookshop. (https://bookshop.usq.edu.au/contact/)

  • Barkoczy, S 2012, Australian tax casebook, 11th edn, CCH Australia, North Ryde, New South Wales.
  • Barkoczy, S 2013, 2013 core tax legislation and study guide, CCH Australia, North Ryde, New South Wales.
  • 2013, 2013 Australian tax handbook, Australian Tax Practice, Pyrmont, New South Wales.

Reference materials

Reference materials are materials that, if accessed by students, may improve their knowledge and understanding of the material in the course and enrich their learning experience.
  • Woellner, R, Barkoczy, S, Murphy, S & Evans, C 2013, 2013 Australian taxation law, CCH Australia, North Ryde, New South Wales.

Student workload requirements

Activity Hours
Assessments 20.00
Directed Study 52.00
Private Study 93.00

Assessment details

Description Marks out of Wtg (%) Due Date Notes
FORUM ACTIVITY 0 0 16 Aug 2013 (see note 1)
ASSIGNMENT 50 50 04 Oct 2013 (see note 2)
EXAMINATION PART A 26 26 End S2 (see note 3)
EXAMINATION PART B 24 24 End S2

NOTES
  1. Response to online forum question.
  2. Client letter of advice and factual problem scenarios.
  3. The examination is scheduled to be held in the end-of-semester examination period. Students will be advised of the official examination date for exam (parts A and B) after the timetable has been finalised. The total working time for exam (parts A and B) is 2 hours. Part A will be multiple-choice questions. Part B will be written problem scenarios.

Important assessment information

  1. Attendance requirements:
    If you are an international student in Australia, you are advised to attend all classes at your campus. For all other students, there are no attendance requirements for this course. However, it is the students' responsibility to study all material provided to them or required to be accessed by them to maximise their chance of meeting the objectives of the course and to be informed of course-related activities and administration.

  2. Requirements for students to complete each assessment item satisfactorily:
    To satisfactorily complete an individual assessment item a student must achieve at least 50% of the marks. (Depending upon the requirements in Statement 4 below, students may not have to satisfactorily complete each assessment item to receive a passing grade in this course.)

  3. Penalties for late submission of required work:
    If students submit assignments after the due date without prior approval of the examiner, then a penalty of 5% of the total marks gained by the student for the assignment may apply for each working day late up to ten working days at which time a mark of zero may be recorded.

  4. Requirements for student to be awarded a passing grade in the course:
    To be assured of receiving a passing grade a student must achieve at least 50% of the total weighted marks available for the course.

  5. Method used to combine assessment results to attain final grade:
    The final grades for students will be assigned on the basis of the aggregate of the weighted marks obtained for each of the summative assessment items in the course.

  6. Examination information:
    This will be an open examination. Candidates may have access to any printed or written material and a calculator during the examination.

  7. Examination period when Deferred/Supplementary examinations will be held:
    Any Deferred or Supplementary examinations for this course will be held during the next examination period.

  8. University Student Policies:
    Students should read the USQ policies: Definitions, Assessment and Student Academic Misconduct to avoid actions which might contravene University policies and practices. These policies can be found at http://policy.usq.edu.au.

Assessment notes

  1. Assignments:
    1. The due date for an assignment is the date by which a student must despatch the assignment to the USQ. The onus is on the student to provide proof of the despatch date, if requested by the examiner.
    2. Students must retain a copy of each assignment submitted for assessment. This must be produced within 24 hours if required by the examiner.
    3. In accordance with university policy, the examiner may grant an extension of the due date of an assignment in extenuating circumstances.
    4. Assignments are to be submitted in the appropriate assignment folders.
    5. The examiner will normally only accept assessments that have been written, typed or printed on paper-based media.
    6. The examiner will not accept submission of assignments by facsimile.
    7. In the event that a due date for an assignment falls on a local public holiday in their area, such as a show holiday, the due date for the assignment will be the next day. Students are to note on the assignment cover the date of the public holiday for the examiner's convenience.


  2. Referencing in assignments:
    Students studying this course as part of a Bachelor of Laws or Juris Doctor must use the Australian Guide to Legal Citation (AGLC) style. Students who are not enrolled in either of these programs may use either Harvard (AGPS) or the Australian Guide to Legal Citation (AGLC) in their assignments to format details of the information sources they have cited in their work. For AGLC style guide enquiries, consult the AGLC manual from the USQ Library's referencing guide at http://www.usq.edu.au/library/referencing, or contact the Law librarian. The Harvard (AGPS) style to be used is defined by the USQ Library's referencing guide at http://www.usq.edu.au/library/referencing.

  3. Dishonest actions:
    1. Any student who is alleged to have performed a dishonest action relating to any assessment in the course will have a course of action taken against him/her as outlined in the academic regulations.
    2. Pieces of assessment should be the work of individual students. Joint pieces of assessment are not permitted unless written approval has been obtained from the examiner.
    3. Dishonest action in relation to assessment includes: copying or attempting to copy the work of others; use of or attempting to use information prohibited from use in that form of assessment; submitting the work of another as your own; consciously committing acts of plagiarism, that is, taking and using another's thoughts or writings as one's own with intent to deceive, which occurs when paragraphs, sentences, a single sentence or significant parts of a sentence which are copied directly, are not enclosed in quotation marks and appropriately footnoted or referenced in the text; direct quotations are not used, but text is paraphrased or summarised, and the source of the material is not acknowledged by footnoting or other reference in the text.


Other requirements

  1. Computer, e-mail and Internet access:
    Students are required to have access to a personal computer, e-mail capabilities and Internet access to UConnect. Current details of computer requirements can be found at http://www.usq.edu.au/current-students/support/computing/hardware.