Pre-requisite: It is highly recommended that you have an understanding of
Pre-requisite: fundamental accounting and commercial law concepts to undertake this
Pre-requisite: course.
In order to participate in the planning of a client's tax affairs it is necessary to understand the relevant sections of the appropriate taxation laws applicable to the transaction or entity structure. This unit primarily introduces students to the Income Tax Assessment Act (ITAA). Topics covered include assessable income, residency, capital gains tax, allowable deductions, classes of taxpayers, calculation of tax payable and offsets/rebates of tax, and tax administration provisions and the taxation of business entities. Goods and Services Tax is also covered in detail.