Program Overview
Macquarie University Program: ACCG3020 – Tax in Practice
Overview
The unit introduces students to the tax framework operating in Australia, covering the regulatory environment and the impact of the conceptual framework on key areas of taxation, including income tax, goods and services tax, and fringe benefits tax. Upon completion, students will be able to recognize, describe, and analyze taxation issues and apply tax concepts to problems encountered in a contemporary setting.
General Information
- Unit Convenor and Teaching Staff: Daisy Chen, James Hazelton, Thanh Phan
- Credit Points: 10
- Prerequisites: 20cp at 2000 level or above, including ACCG2051, or 30cp in LAW units at 2000 level
- Corequisites: None
- Co-badged Status: None
- Unit Description: This unit provides an in-depth examination of the Australian tax system, focusing on the application of tax legislation to real-life situations.
Learning Outcomes
Upon successful completion of this unit, students will be able to:
- ULO1: Identify tax issues and apply the provisions of relevant tax legislation to real-life situations.
- ULO2: Develop a suitable set of tax management strategies for a variety of taxpayers, including international tax transactions.
- ULO3: Present, evaluate, and use numerical and statistical information related to taxation, including the use of accounting software.
- ULO4: Apply research skills to source and interrogate tax law materials and interpret complex legal information.
- ULO5: Produce professionally written tax advice that presents a clear and well-supported justification of guidance given.
General Assessment Information
- Late Assessment Submission Penalty: A 5% penalty (of the total possible mark) will be applied each day a written assessment is not submitted, up until the 7th day (including weekends). After the 7th day, a grade of '0' will be awarded even if the assessment is submitted.
Assessment Tasks
| Name | Weighting | Hurdle | Due |
|---|---|---|---|
| Professional Practice: Australian Tax Framework | 30% | No | Throughout |
| Skills Development: Analysis and Application of Taxation Principles | 30% | No | Week 12 |
| Formal and Observed Learning: Test | 40% | No | Week 13 |
Professional Practice: Australian Tax Framework
- Assessment Type: Practice-based task
- Indicative Time on Task: 20 hours
- Due: Throughout
- Weighting: 30%
- Purpose: To build expertise in Australian tax legislation and tax management strategies by analyzing and evaluating real-world scenarios.
Skills Development: Analysis and Application of Taxation Principles
- Assessment Type: Case study/analysis
- Indicative Time on Task: 30 hours
- Due: Week 12
- Weighting: 30%
- Purpose: To hone skills in identifying, analyzing, and applying taxation principles to real-world scenarios through a collaborative case study.
Formal and Observed Learning: Test
- Assessment Type: Quiz/Test
- Indicative Time on Task: 20 hours
- Due: Week 13
- Weighting: 40%
- Purpose: To demonstrate understanding and knowledge of key topics from the unit through a formal test.
Delivery and Resources
Refer to iLearn for details of delivery.
Unit Schedule
| Week | Lecture | Presentation | Assessment Due |
|---|---|---|---|
| 01 | Lecture 1: The Australian Taxation System and Tax Formula | No presentations | |
| 02 | Lecture 2: Residence and Source, General Principles of Income, Income from Personal Services and Employment | Questions relating to Lecture One | |
| 03 | Lecture 3: Income from Business, Income from Property, Principles of Compensation | Questions relating to Lecture Two | |
| 04 | Lecture 4: Capital Gain Tax | Questions relating to Lecture Three | |
| 05 | Lecture 5: Tax Accounting, General Deductions | Questions relating to Lecture Four | |
| 06 | Lecture 6: Specific Deductions, Trading Stock | Questions relating to Lecture Five | |
| 07 | Lecture 7: Capital Allowances | Questions relating to Lecture Six | |
| 08 | Lecture 8: Partners and Partnership, Trust and Beneficiaries, Taxation of Superannuation | Questions relating to Lecture Seven | |
| 09 | Lecture 9: Companies and Shareholders, Offsets | Questions relating to Lecture Eight | |
| 10 | Lecture 10: Fringe Benefits Tax | Questions relating to Lecture Nine | |
| 11 | Lecture 11: Goods and Services Tax | Questions relating to Lecture Ten | |
| 12 | Lecture 12: Tax Administration | Questions relating to Lecture Eleven | Group Assignment |
| 13 | Lecture 13: Tax Avoidance and Evasion | No presentations | Test |
Policies and Procedures
Macquarie University policies and procedures are accessible from Policy Central. Students should be aware of the following policies in particular regarding Learning and Teaching:
- Academic Appeals Policy
- Academic Integrity Policy
- Academic Progression Policy
- Assessment Policy
- Fitness to Practice Procedure
- Assessment Procedure
- Complaints Resolution Procedure for Students and Members of the Public
- Special Consideration Policy
Student Code of Conduct
Macquarie University students have a responsibility to be familiar with the Student Code of Conduct.
Academic Integrity
At Macquarie, academic integrity is at the core of learning, teaching, and research. The university recognizes that meeting the expectations required to complete assessments can be challenging and offers a range of resources and services to help students reach their potential.
Student Support
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