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Unit of study_

CLAW6026: Taxation Law and Practice

Semester 1, 2021 [Normal day] - Remote

Taxation is an inevitable reality for all individuals and businesses. The impact of taxation on business structures, transactions and decisions is both real and significant. An understanding of how taxation law works is not only vitally important for professional accountants but is also an essential management skill in an increasingly complex business environment. This unit introduces students to the principal forms of taxation within the Australian taxation system with a focus on concepts and principles of income tax law. Students also learn how tax law is applied in practice. This unit covers key concepts of taxation in Australia (including the concepts of income, capital gains tax, deductions, and the residence and source principles) and examines the taxation of different entities (including partnerships, trusts and companies). The taxation of international business transactions is also considered.

Unit details and rules

Unit code CLAW6026
Academic unit
Credit points 6
Prohibitions
? 
CLAW5002
Prerequisites
? 
CLAW5001
Corequisites
? 
None
Assumed knowledge
? 

None

Available to study abroad and exchange students

Yes

Teaching staff

Coordinator Peter Koit, peter.koit@sydney.edu.au
Type Description Weight Due Length
Final exam (Record+) Type B final exam Final exam
Problem based questions
50% Formal exam period 2 hours
Outcomes assessed: LO1 LO2 LO3 LO4
Assignment Mid-semester Review
Problem based questions
25% Week 06
Due date: 18 Apr 2021 at 12:00

Closing date: 18 Apr 2021
800 words
Outcomes assessed: LO1 LO2 LO3 LO4
Assignment Topic Review
Problem based questions
25% Week 09
Due date: 09 May 2021 at 12:00

Closing date: 09 May 2021
800 words
Outcomes assessed: LO2 LO3 LO4 LO1
Type B final exam = Type B final exam ?

Assessment summary

  • Mid-semester Review: Students are required to demonstrate a sound understanding of the relevant tax law and apply the tax rules (using the accepted legal method taught in CLAW5001) to different transactions. This will require complete and correct technical analysis of tax implications arising from the stated facts; arguments properly supported by reference to relevant tax provisions and case law; legal analysis with appropriate structure and logical flow leading to a clearly expressed correct conclusion.
  • Topic Review: The objectives of this task are the same as the Mid-semester Review.
  • Final exam: The final exam is an open book exam, designed to test students’ overall tax knowledge and ability to apply tax cases and statutes to commercial problems. It may cover any topic that has been covered in all the seminars.

Replacement exams: The Business School has determined that second replacement exams will not be offered for this unit of study should a student submit two special considerations for the same exam as this unit forms part of the professional accounting accreditation pathway. Should a student be granted a replacement exam via special consideration, and is then unable to attend or does not complete the replacement exam, any subsequent special consideration will result in a DC grade (Discontinue Without Fail).

Detailed information for each assessment can be found on Canvas.

Assessment criteria

The University awards common result grades, set out in the Coursework Policy 2014 (Schedule 1).

As a general guide, a high distinction indicates work of an exceptional standard, a distinction a very high standard, a credit a good standard, and a pass an acceptable standard.

Result name

Mark range

Description

High distinction

85 - 100

Awarded when you demonstrate the learning outcomes for the unit at an exceptional standard, as defined by grade descriptors or exemplars outlined by your faculty or school. 

Distinction

75 - 84

Awarded when you demonstrate the learning outcomes for the unit at a very high standard, as defined by grade descriptors or exemplars outlined by your faculty or school.

Credit

65 - 74

Awarded when you demonstrate the learning outcomes for the unit at a good standard, as defined by grade descriptors or exemplars outlined by your faculty or school.

Pass

50 - 64

Awarded when you demonstrate the learning outcomes for the unit at an acceptable standard, as defined by grade descriptors or exemplars outlined by your faculty or school. 

Fail

0 - 49

When you don’t meet the learning outcomes of the unit to a satisfactory standard.

For more information see sydney.edu.au/students/guide-to-grades.

For more information see guide to grades.

Late submission

In accordance with University policy, these penalties apply when written work is submitted after 11:59pm on the due date:

  • Deduction of 5% of the maximum mark for each calendar day after the due date.
  • After ten calendar days late, a mark of zero will be awarded.

Academic integrity

The Current Student website  provides information on academic integrity and the resources available to all students. The University expects students and staff to act ethically and honestly and will treat all allegations of academic integrity breaches seriously.  

We use similarity detection software to detect potential instances of plagiarism or other forms of academic integrity breach. If such matches indicate evidence of plagiarism or other forms of academic integrity breaches, your teacher is required to report your work for further investigation.

You may only use artificial intelligence and writing assistance tools in assessment tasks if you are permitted to by your unit coordinator, and if you do use them, you must also acknowledge this in your work, either in a footnote or an acknowledgement section.

Studiosity is permitted for postgraduate units unless otherwise indicated by the unit coordinator. The use of this service must be acknowledged in your submission.

Simple extensions

If you encounter a problem submitting your work on time, you may be able to apply for an extension of five calendar days through a simple extension.  The application process will be different depending on the type of assessment and extensions cannot be granted for some assessment types like exams.

Special consideration

If exceptional circumstances mean you can’t complete an assessment, you need consideration for a longer period of time, or if you have essential commitments which impact your performance in an assessment, you may be eligible for special consideration or special arrangements.

Special consideration applications will not be affected by a simple extension application.

Using AI responsibly

Co-created with students, AI in Education includes lots of helpful examples of how students use generative AI tools to support their learning. It explains how generative AI works, the different tools available and how to use them responsibly and productively.

WK Topic Learning activity Learning outcomes
Week 01 Overview of the Australian taxation system including Fringe Benefits and Goods ad services Taxes Lecture (3 hr)  
Week 02 Residence and source Lecture (3 hr)  
Week 03 Concepts of income 1 - Income from personal services Lecture (3 hr)  
Week 04 Concepts of income 2 - Income from property and business Lecture (3 hr)  
Week 05 Capital Gains Tax (CGT) Lecture (3 hr)  
Week 06 Mid Semester Revision Lecture (3 hr)  
Week 07 General deductions Lecture (3 hr)  
Week 08 Specific deductions Lecture (3 hr)  
Week 09 Tax accounting Lecture (3 hr)  
Week 10 Partnerships and trusts Lecture (3 hr)  
Week 11 Companies and shareholders Lecture (3 hr)  
Week 12 International tax and tax avoidance Lecture (3 hr)  
Week 13 Final exam revision Lecture (3 hr)  

Attendance and class requirements

Lecture recordings: All lectures are recorded and will be available on Canvas for student use. Please note the Business School does not own the system and cannot guarantee that the system will operate or that every class will be recorded. Students should ensure they attend and participate in all classes.

Study commitment

Typically, there is a minimum expectation of 1.5-2 hours of student effort per week per credit point for units of study offered over a full semester. For a 6 credit point unit, this equates to roughly 120-150 hours of student effort in total.

Required readings

  • Pinto, et al, Fundamental Tax Legislation (2021, Thomson, Sydney)
  • Sadiq, et al, Principles of Taxation Law (2021, Thomson, Sydney).

Learning outcomes are what students know, understand and are able to do on completion of a unit of study. They are aligned with the University's graduate qualities and are assessed as part of the curriculum.

At the completion of this unit, you should be able to:

  • LO1. analyse and critically evaluate alternative tax practices based on a good understanding of key concepts of taxation and major constraints in business environment
  • LO2. determine tax implications of various business transactions by applying knowledge of the tax law and practice for individuals and businesses
  • LO3. compute tax liabilities for individuals and business entities
  • LO4. refine academic writing and presentation skills.

Graduate qualities

The graduate qualities are the qualities and skills that all University of Sydney graduates must demonstrate on successful completion of an award course. As a future Sydney graduate, the set of qualities have been designed to equip you for the contemporary world.

GQ1 Depth of disciplinary expertise

Deep disciplinary expertise is the ability to integrate and rigorously apply knowledge, understanding and skills of a recognised discipline defined by scholarly activity, as well as familiarity with evolving practice of the discipline.

GQ2 Critical thinking and problem solving

Critical thinking and problem solving are the questioning of ideas, evidence and assumptions in order to propose and evaluate hypotheses or alternative arguments before formulating a conclusion or a solution to an identified problem.

GQ3 Oral and written communication

Effective communication, in both oral and written form, is the clear exchange of meaning in a manner that is appropriate to audience and context.

GQ4 Information and digital literacy

Information and digital literacy is the ability to locate, interpret, evaluate, manage, adapt, integrate, create and convey information using appropriate resources, tools and strategies.

GQ5 Inventiveness

Generating novel ideas and solutions.

GQ6 Cultural competence

Cultural Competence is the ability to actively, ethically, respectfully, and successfully engage across and between cultures. In the Australian context, this includes and celebrates Aboriginal and Torres Strait Islander cultures, knowledge systems, and a mature understanding of contemporary issues.

GQ7 Interdisciplinary effectiveness

Interdisciplinary effectiveness is the integration and synthesis of multiple viewpoints and practices, working effectively across disciplinary boundaries.

GQ8 Integrated professional, ethical, and personal identity

An integrated professional, ethical and personal identity is understanding the interaction between one’s personal and professional selves in an ethical context.

GQ9 Influence

Engaging others in a process, idea or vision.

Outcome map

Learning outcomes Graduate qualities
GQ1 GQ2 GQ3 GQ4 GQ5 GQ6 GQ7 GQ8 GQ9

This section outlines changes made to this unit following staff and student reviews.

No changes have been made since this unit was last offered.

More information can be found on Canvas.

Disclaimer

The University reserves the right to amend units of study or no longer offer certain units, including where there are low enrolment numbers.

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