Income Tax Law (LAWS3101)

Course overview

This course introduces students to taxation law in Australia, with particular emphasis on the topics required by professional accounting bodies for accreditation purposes. The course equips students with self-directed learning strategies that set them up for lifelong learning that is essential in their future work lives as accountants. The course enhances employability by developing time management and professional communication skills that are essential in the workplace.

LAWS3101 is an introductory course in taxation law that covers income taxes levied on the taxable income of a range of taxpayers, Goods and Service Tax (GST) and Fringe Benefits Tax (FBT). LAWS3101 equips you with the skills to solve real-world tax problems using statute law, case law and ATO (Australian Taxation Office) Rulings, which sets you up for success in the workplace and prepares you for professional exams if you intend to follow a chartered accountancy (CA) career pathway. LAWS3101 will help you develop time management, professional communication and lifelong learning skills that are essential to the independent work that accountants and tax professionals undertake in the workplace.

What makes LAWS3101 different to your other courses?

Taxation law is complex, even at an introductory level. Taxation is a continually changing area of the law. Your biggest challenge in LAWS3101 is to navigate the rules-based nature of taxation law which is unlike the principles-based nature of accounting and finance courses. Each LAWS3101 topic covers specific sections and divisions of statute law, specific case law and ATO Rulings that are essential elements in your responses in assessments in order to meet the assessment criteria and performance standards in the course. LAWS3101 demands a lot of independent learning. You should adapt your learning approach accordingly.

Accreditation

LAWS3101 is accredited by Chartered Accountants Australia New Zealand (CAANZ) and CPA Australia as a required course for admission into CA-programs. The scope and depth of topics covered and the assessment in the course align with accreditation.

Janine McMaster-Kirkwood Prize in Income Tax Law

The student with the best performance in their first attempt at LAWS3101 will be recommended for this prize. One prize will be awarded. This prize is not shared between students.

Course requirements

Assumed background

The taxation of business income and passive income (for example dividends and rental income) differs, dependingﾠon the legal structures used to conduct theﾠbusiness and theﾠownership rights of the entities that ownﾠthe investments that give rise to the passive income. The most common legal entitiesﾠare sole traders, partnerships, companies and discretionary trusts. Students are expected to be familiar with the ownership rights associated with sole traders, partnerships and companiesﾠfrom their studies of LAWS1100 Business Law (or its equivalent).

Prerequisites

You'll need to complete the following courses before enrolling in this one:

LAWS1100

Incompatible

You can't enrol in this course if you've already completed the following:

LAWS5144 or 7012 or 7144

Restrictions

Not for students enrolled in LLB(Hons)(64), LLB(Hons)(48), LLB, LLB (Grad Entry), LLB(Hons) duals and LLB dual programs

Course contact

Course staff

Timetable

The timetable for this course is available on the UQ Public Timetable.

Additional timetable information

Lectures

Lectures are timetabled and conducted in person on campus. A recording of each lecture will be made available in Learning Resources on the course Blackboard site. Students are not required to preference a lecture in My Timetable. Students are expected to attend or watch the weekly lectures in the week when each lecture takes place, as the success of the Tutorial Program relies on students' knowledge gained from the previous weeks’ lectures.

Tutorials

Students are required to preference for a tutorial group via My Timetable (available through my.UQ dashboard) so that they choose a tutorial group that fits in with their personal circumstances. Students are required to enrol in a tutorial group and to attend their tutorials according to their personal timetable. In the Law School, tutorials are not recorded as students are expected to attend. At the end of each LAWS3101 tutorial week, brief written student feedback will be released to help students revise the in-class tutorial discussion. To succeed in LAWS3101, it is essential to attend tutorials.

Aims and outcomes

Teaching Mission Statement

The mission of the TC BeirneﾠSchool of Law is to educate students in and about the law. We seek to assist you to think critically about the law and to investigate its structures, principles, policies, and values. This is achieved by engaging with you as fellow investigators in a range of critical and intellectual conversations about the law and its place in society. Our role is thus to guide you in your own intellectual journey in the law and to equip you with the necessary skills that will enable you to continue that journey long after you have left the School.

Course Aims:

The aim of LAWS3101 is to equip you with the skills to solve real-world tax problems using statute law, case law and ATO Rulings.

Learning outcomes

After successfully completing this course you should be able to:

Assessment

Assessment summary

Assessment details

In-Semester Examination

• Online

Mode

Written

Category

Examination

Weight

20%

Due date

Week 8

The In-Semester Exam online test link will only be accessible in a 10-minute window period from 10:15 am to 10:25 am on Monday 9 September 2024. It is each student’s own responsibility to access the In-Semester Exam test link during this window period. From when you access the In-Semester Exam test link, you have 70 minutes to complete the test (that includes 10 minutes of planning time). Your test will close automatically at the end of this exam duration.

Learning outcomes

L01, L02, L03

Task description

Exam details

Submission guidelines

The In-Semester Exam online test link will only be accessible in a 10-minute window period from 10:15 am to 10:25 am on Monday 9 September 2024. It is each student’s own responsibility to access the In-Semester Exam test link during this window period. 

Deferral or extension

You may be able to defer this exam.

Late submission

Exams submitted after the end of the submission time will incur a late penalty.

Late Submission of Digital Exams

Penalties for late submission will apply to the total mark available for an examination unless a student can demonstrate that system and/or process issues beyond their control resulted in the late submission of the examination.

Additional information on late penalties for digital examinations can be found within the Examinations Procedure.

Tax Advice Statement

• Online

Mode

Written

Category

Paper/ Report/ Annotation

Weight

30%

Due date

10/10/2024 5:00 pm

Learning outcomes

L01, L02, L03

Task description

Submission guidelines

Typed-up responses in a single Word file submitted online through the Tax Advice Statement Turnitin link on the course Blackboard website.

Deferral or extension

You may be able to apply for an extension.

The maximum extension allowed is 7 days. Extensions are given in multiples of 24 hours.

Extension to Assessment Due Date

An extension for an assessment item due within the teaching period in which the course is offered will generally be limited to one week in the first instance. In exceptional circumstances, approved extensions may be granted for more than one week but will not exceed four weeks in total. Where a student is incapacitated for a period exceeding four weeks of the teaching period, they should be advised to apply for removal of course.

A student may apply for an extension to assessment due date if they are unable to meet an assessment deadline due to extenuating circumstances. Please refer to the Applying for an extension page on my.UQ for further details on acceptable reasons for an extension and for instructions on how to apply. Additional information on extensions can be found within the Assessment Procedure .

Spoken or written notification of difficulties with assessment deadlines to a course coordinator or the School does not constitute an authorised extension.

Applications to be submitted before the due date: Applications for extension (whether they be medical or exceptional circumstances) shall be made by the due date and time for the assessment. Requests for extensions received after the assessment item submission due date and time, must include evidence of the reason for the late request, and will require the decision maker listed in the Student Grievance Resolution Procedure to accept the request for consideration.

Late submission

A penalty of 10% of the maximum possible mark will be deducted per 24 hours from time submission is due for up to 7 days. After 7 days, you will receive a mark of 0.

Penalties for Late Submission

The following penalties apply to late submission of an assessment item, assuming that an extension has not been approved, and that late submission is academically possible (e.g., it does not delay feedback to a cohort, or interfere with course delivery).

First 7 periods of 24 hours (or part thereof) - 10% per 24 hours of the maximum possible mark for the assessment item. For example, a report worth a maximum of 40 marks, submitted 28 hours late will attract a penalty of 8 marks, calculated as 2 periods of 24 hours x 10% x 40 marks.

More than 7 periods of 24 hours - 100%.

End-of-semester Examination

• In-person

Mode

Written

Category

Examination

Weight

50%

Due date

End of Semester Exam Period

2/11/2024 - 16/11/2024

Learning outcomes

L01, L02, L03, L04, L05

Task description

Exam details

Submission guidelines

Deferral or extension

You may be able to defer this exam.

Course grading

Full criteria for each grade is available in the Assessment Procedure.

Supplementary assessment

Supplementary assessment is available for this course.

Learning resources

You'll need the following resources to successfully complete the course. We've indicated below if you need a personal copy of the reading materials or your own item.

Library resources

Find the required and recommended resources for this course on the UQ Library website.

Own copy required

You'll need to have your own copy of the following reading resources. We've indicated below if you need a personal copy of the reading materials or your own item.

Additional learning resources information

The course resources that set you up for success in LAWS3101

Taxation law in Australia is rules-based. To meet the assessment criteria in LAWS3101, your responses must include references to specific sections and divisions, specific case law and specific ATO Rulings that are listed in the Topic Learning Plans that are released throughout the semester. It is essential to consult each Topic Learning Plan to know:

• Which specific material from Principles of Taxation Law 2024 you are required to study for each topic.
• Which specific sections and divisions from statute law and which ATO Rulings numbers to include in your responses in assessments to meet the assessment criteria.
• Which specific case law citations to include in your responses in assessments to meet the assessment criteria.

 Each Topic Learning Plan includes a series of questions with marking guides to help you practice your tax problem solving skills.

In addition, daily diaries, templates, worksheets and formative quizzes are made available during the semester to help you navigate the volume and complexity in LAWS3101.

Learning activities

The learning activities for this course are outlined below. Learn more about the learning outcomes that apply to this course.

Policies and procedures

University policies and procedures apply to all aspects of student life. As a UQ student, you must comply with University-wide and program-specific requirements, including the:

• Student Code of Conduct Policy
• Student Integrity and Misconduct Policy and Procedure
• Assessment Procedure
• Examinations Procedure
• Reasonable Adjustments - Students Policy and Procedure

Learn more about UQ policies on my.UQ and the Policy and Procedure Library.

School guidelines

Your school has additional guidelines you'll need to follow for this course:

• Law School Announcements and Policies