Course coordinator
Ms Lisa Samarkovski
Course overview
- Study period
- Semester 2, 2024 (22/07/2024 - 18/11/2024)
- Study level
- Postgraduate Coursework
- Location
- St Lucia
- Attendance mode
- In Person
- Units
- 2
- Administrative campus
- St Lucia
- Coordinating unit
- Law School
This course is an introductory level examination of the basic principles of taxation law in Australia, with particular emphasis on the topics required by professional accounting bodies for accreditation purposes.
This course aims is to provide students with a sound knowledge of the basic principles of the Australian income tax, goods and services tax, and fringe benefits tax systems, and how these principles are to be applied to taxpayers.ﾠﾠ
The Tax Institute Prizes in Law (Prize 3): The student with the highest overall mark in their first attempt at LAWS7012 will be recommended for this annual prize.
Course requirements
Assumed background
An understanding of Australia's legal system and how legislation and case law interact is assumed.ﾠ It is also assumed that students will have a working knowledge of the accounting principles of income and expenditure.ﾠ An understanding of how depreciation is calculated in accounting terms is also useful.ﾠ
Prerequisites
You'll need to complete the following courses before enrolling in this one:
LAWS7000 or 7010 or 7023
Incompatible
You can't enrol in this course if you've already completed the following:
LAWS3101 or 5144 or 7144
Restrictions
Course is not recommended for students with legal qualifications
Course contact
Course staff
Lecturer
Ms Lisa Samarkovski
Timetable
The timetable for this course is available on the UQ Public Timetable.
Additional timetable information
Although lecture classes will be held live on-campus each week, note that some of the lecture content may be pre-recorded due to time constraints. These additional lecture recordings will be made available on the course Learn.UQ website in the same week as the recording from the corresponding live lecture class.
As the seminar classes expand on the lecture content, note that it is important that students either attend the live lecture or view the recording from the live lecture classes and view any additional pre-recordings prior to attending their seminar classes.
Aims and outcomes
Teaching Mission Statement
The mission of the TC Beirne School 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
This course aims is to provide students with a sound knowledge of the basic principles of the Australian income tax, goods and services tax, and fringe benefits tax systems, and how these principles are to be applied to taxpayers.
Learning outcomes
After successfully completing this course you should be able to:
LO1.
Demonstrate a sound knowledge of the regulatory framework of the taxation system in Australia.
LO2.
Apply the fundamentals of calculating taxable income and tax payable for individuals and business entities.
LO3.
Demonstrate a practical understanding of capital gains tax (CGT) in interpreting and researching a legal hypothetical/case study.
LO4.
Demonstrate a sound understanding of the goods and services tax (GST) regime, including its interaction with other tax systems.
LO5.
Demonstrate a sound understanding of the fringe benefits tax (FBT) regime, including its interaction with income tax and GST.
LO6.
Analyse the taxation issues associated with non-complex international transactions.
Assessment
Assessment summary
| Category | Assessment task | Weight | Due date |
|---|---|---|---|
| Quiz |
Online Quiz 1
|
10% |
13/08/2024 7:00 pm |
| Quiz |
Online Quiz 2
|
10% |
10/09/2024 7:00 pm |
| Paper/ Report/ Annotation |
Legal Hypothetical
|
30% |
10/10/2024 2:00 pm |
| Examination |
End-of-semester Examination
|
50% |
End of Semester Exam Period 2/11/2024 - 16/11/2024 |
Assessment details
Online Quiz 1
- Online
- Mode
- Written
- Category
- Quiz
- Weight
- 10%
- Due date
13/08/2024 7:00 pm
Task description
Online Quiz 1 consists of ten (10) multiple-choice questions based on the content of Topics 1 to 3. This quiz is intended to give students early feedback on their progress in the course and to provide an incentive for students to learn the core foundational material, which will be built upon throughout the remainder of the semester.
- The quiz link will be available to access through the course Learn.UQ website between 7:00pm and 7:05pm AEST. Students must access the quiz within the specified 5-minute access period and complete their attempt in one sitting (that is, they will not be able to log in and view the questions, and then come back and answer them at a later time).
- The duration of the quiz is 30 minutes.
NOTE:
- The Online Quiz is an INDIVIDUAL assessment activity. That is, students must complete the quiz alone without any assistance from other persons.
- This assessment task evaluates student’s abilities, skills and knowledge without the aid of Artificial Intelligence (AI). Students are advised that the use of AI technologies to develop responses is strictly prohibited and may constitute student misconduct under the Student Code of Conduct.
Submission guidelines
Deferral or extension
You may be able to apply for an extension.
Extension to Assessment Due Date
Extensions are not usually permitted for this assessment item, but may be considered if there are exceptional circumstances. In any case, given that extensions delay the release of the quiz results to the other students, an extension (if granted) will not exceed 2 days in total.
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.
Note: There is no 'deferred quiz', which means that all students must sit the quiz as scheduled.
Online Quiz 2
- Online
- Mode
- Written
- Category
- Quiz
- Weight
- 10%
- Due date
10/09/2024 7:00 pm
- Learning outcomes
- L02
Task description
Online Quiz 2 consists of ten (10) multiple-choice questions based on the content of Topics 4 to 6; however, all earlier content covered in the course will be assumed knowledge. This quiz is intended to give students early feedback on their progress in the course and to provide an incentive for students to learn the core foundational material, which will be built upon throughout the remainder of the semester.
- The quiz link will be available to access through the course Learn.UQ website between 7:00pm and 7:05pm AEST. Students must access the quiz within the specified 5-minute access period and complete their attempt in one sitting (that is, they will not be able to log in and view the questions, and then come back and answer them at a later time).
- The duration of the quiz is 30 minutes.
NOTE:
- The Online Quiz is an INDIVIDUAL assessment activity. That is, students must complete the quiz alone without any assistance from other persons.
- This assessment task evaluates student’s abilities, skills and knowledge without the aid of Artificial Intelligence (AI). Students are advised that the use of AI technologies to develop responses is strictly prohibited and may constitute student misconduct under the Student Code of Conduct.
Submission guidelines
Deferral or extension
You may be able to apply for an extension.
Extension to Assessment Due Date
Extensions are not usually permitted for this assessment item, but may be considered if there are exceptional circumstances. In any case, given that extensions delay the release of the quiz results to the other students, an extension (if granted) will not exceed 2 days in total.
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.
Note: There is no 'deferred quiz', which means that all students must sit the quiz as scheduled.
Legal Hypothetical
- Online
- Mode
- Written
- Category
- Paper/ Report/ Annotation
- Weight
- 30%
- Due date
10/10/2024 2:00 pm
Task description
The assignment is of a legal hypothetical/case study style. It will cover material from the course (in particular, Topics 8 and 9; that is, capital gains tax); however, students will be required to undertake further research in order to identify the applicable law.
- The advisory maximum word limit is 2,000 words (not including the words that form part of the provided answer template document); however, note that as a guide it is possible to provide a comprehensive yet succinct answer in around 1,400 to 1,800 words.
- The assignment facts and answer template document will be released at the start of the In-semester break, which means that students will have just over two weeks to complete the supplied answer template. Although this is a very generous amount of time, students are encouraged to begin working on their assignment early so they have plenty of time to proofread it and double-check any calculations before the due date.
NOTE:
- The Assignment is an INDIVIDUAL assessment activity. That is, students must work alone on all aspects of their assignment submission including their analysis of the facts, research undertaken, application of the law, and write-up of their answer.
- This assessment task evaluates student’s abilities, skills and knowledge without the aid of Artificial Intelligence (AI). Students are advised that the use of AI technologies to develop responses is strictly prohibited and may constitute student misconduct under the Student Code of Conduct.
Submission guidelines
The assignment must be submitted electronically in Word document format via the Turnitin link on the course Learn.UQ site.
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
Task description
The End-of-semester Examination will be conducted as an invigilated on-campus exam. Typically, the exam consists of a mix of multiple-choice, short answer, and problem solving style questions.
- It is a 'Specified Materials Permitted' exam, which means that any printed / written material is allowed. These materials may be annotated.
- Students will also need access to a calculator during the exam.
A note about 'Specified Materials Permitted' exams:
- These types of exams are designed to test students on their knowledge and understanding of the material, which means that students can find such exams challenging if they are inadequately prepared. That is, there simply will not be enough time during the exam to refer to the course materials or the textbook to look up (and learn about) unfamiliar content. Therefore, it is essential that students are familiar with and understand the course content before the exam commences.
- To perform well in such an exam, students should prepare succinct summaries (in the form of tables, flow-charts, concept maps, etc) and be familiar with using those summaries. Students are advised to prepare their summaries throughout the semester in readiness for the exam.
NOTE:
- This assessment task is to be completed in-person. The use of Artificial Intelligence (AI) tools will not be permitted. Any attempted use of AI may constitute student misconduct under the Student Code of Conduct.
Exam details
| Planning time | 10 minutes |
|---|---|
| Duration | 120 minutes |
| Calculator options | Any calculator permitted |
| Open/closed book | Open Book examination |
| Exam platform | Paper based |
| Invigilation | Invigilated in person |
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.
| Grade | Cut off Percent | Description |
|---|---|---|
| 1 (Low Fail) | 0 - 19 |
Absence of evidence of achievement of course learning outcomes. |
| 2 (Fail) | 20 - 47 |
Minimal evidence of achievement of course learning outcomes. |
| 3 (Marginal Fail) | 48 - 49 |
Demonstrated evidence of developing achievement of course learning outcomes |
| 4 (Pass) | 50 - 64 |
Demonstrated evidence of functional achievement of course learning outcomes. |
| 5 (Credit) | 65 - 74 |
Demonstrated evidence of proficient achievement of course learning outcomes. |
| 6 (Distinction) | 75 - 84 |
Demonstrated evidence of advanced achievement of course learning outcomes. |
| 7 (High Distinction) | 85 - 100 |
Demonstrated evidence of exceptional achievement of course learning outcomes. |
Supplementary assessment
Supplementary assessment is available for this course.
Additional assessment information
All assignments are now to be electronically submitted via Learn.UQ. The instructions for submission are in the Assignment Folder in the course Learn.UQ site. The online submission is in addition to any other submission requirements that appear in this ECP.
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.
Additional learning resources information
Required reading lists, lecture slides (and pre-recorded lecture videos where relevant), seminar revision questions, and weekly revision quizzes for each topic will be made available on the course Learn.UQ website; along with a glossaryﾠand links to useful tax law websites.ﾠ
Learning activities
The learning activities for this course are outlined below. Learn more about the learning outcomes that apply to this course.
Filter activity type by
Please select
| Learning period | Activity type | Topic |
|---|---|---|
Week 1 (22 Jul - 28 Jul) |
Lecture |
WEEK 1 | LECTURE 1: Introduction This lecture contains an introduction to Australia's taxation system. We will cover the income tax equation and the assessment of income tax for individual taxpayers in class, whereas an overview of the Australian taxation system and the administration of taxation in Australia will be covered via pre-recorded lecture videos. Learning outcomes: L01, L02 |
Week 2 (29 Jul - 04 Aug) |
Lecture |
WEEK 2 | LECTURE 2: Residence and source In this lecture class, we will examine the key concepts of residency for tax purposes and the source of income, and consider how they impact on the income tax levied on a taxpayer. |
Seminar |
WEEK 2 | SEMINAR 1: Introduction In this week's seminar classes we will cover the Topic 1 revision questions and activities. Learning outcomes: L01, L02 |
|
Week 3 (05 Aug - 11 Aug) |
Lecture |
WEEK 3 | LECTURE 3: Assessable income In this lecture class, we will consider the nature of income and its relevance to the income tax equation. We will look at how to determine whether a particular receipt constitutes ordinary income, and we will then consider the three types of ordinary income being income from personal exertion, property, and business. Different types of statutory income (being income deemed to be assessable because the income tax legislation specifies it to be so), and exempt income and non-assessable non-exempt income will be covered via pre-recorded lecture videos. Learning outcomes: L02 |
Seminar |
WEEK 3 | SEMINAR 2: Residence & source, & Assessable income In this week's seminar classes we will cover the Topics 2 & 3 revision questions and activities. |
|
Week 4 (12 Aug - 18 Aug) |
Lecture |
WEEK 4 | LECTURE 4 - General deductions In this lecture class, we will examine general deductions, being losses or outgoings that satisfy s 8-1 of the Income Tax Assessment Act 1997. We will also consider some common expenses that are deductible under s 8-1 via a series of pre-recorded lecture videos. Learning outcomes: L02 |
Seminar |
WEEK 4 | NO SEMINARS THIS WEEK Due to the local public holiday on Wednesday 14 August 2024, there will be no seminar classes this week. However, note the timing of Online Quiz 1, which will be held on Tuesday night. |
|
Week 5 (19 Aug - 25 Aug) |
Lecture |
WEEK 5 | LECTURE 5: Specific deductions In this lecture class, we will examine some of the more common specific deductions available to taxpayers, as well as the substantiation rules. Learning outcomes: L02 |
Seminar |
WEEK 5 | SEMINAR 3: General deductions In this week's seminar classes we will cover the Topic 4 revision questions and activities. Learning outcomes: L02 |
|
Week 6 (26 Aug - 01 Sep) |
Lecture |
WEEK 6 | LECTURE 6: Capital allowances In this lecture class, we will examine the capital allowance regime, including capital works. The capital allowances regime generally allows taxpayers to claim a deduction for certain capital expenditure over time rather than immediately. Learning outcomes: L02 |
Seminar |
WEEK 6 | SEMINAR 4: Specific deductions In this week's seminar classes we will cover the Topic 5 revision questions and activities. Learning outcomes: L02 |
|
Week 7 (02 Sep - 08 Sep) |
Lecture |
WEEK 7 | LECTURE 7: Timing issues In this lecture class, we will cover various issues of tax accounting; that is, the timing of when income and deductions are recognised for tax purposes. We will also examine the special statutory rules that determine the timing and quantum of income and deductions in relation to trading stock for business taxpayers. Applying these timing rules correctly is important as we want to ensure that taxpayers are assessed on the correct amount of taxable income for a particular income year. Learning outcomes: L02 |
Seminar |
WEEK 7 | SEMINAR 5: Capital allowances & Timing issues In this week's seminar classes we will cover the Topics 6 & 7 revision questions and activities. Learning outcomes: L02 |
|
Week 8 (09 Sep - 15 Sep) |
Lecture |
WEEK 8 | LECTURE 8: CGT concepts In this first lecture class on capital gains tax (CGT,) we will cover some general CGT concepts and introduce the 3-step process used to calculate a taxpayer's net capital gain (or net capital loss). The first step in this process will be covered in this class, which will involve an examination of CGT events, CGT assets, and exemptions. |
Seminar |
WEEK 8 | NO SEMINARS THIS WEEK There are no seminar classes this week. However, note the timing of Online Quiz 2, which will be held on Tuesday night. |
|
Week 9 (16 Sep - 22 Sep) |
Lecture |
WEEK 9 | LECTURE 9: CGT calculations In this second lecture class on CGT, we will cover the second and third steps of the 3-step process used to calculate a taxpayer's net capital gain (or net capital loss). This will entail an examination of how to calculate a taxpayer's capital gains and losses for a given income year. |
Seminar |
WEEK 9 | SEMINAR 6: CGT concepts In this week's seminar classes we will cover the Topic 8 revision questions and activities. |
|
Mid Sem break (23 Sep - 29 Sep) |
Lecture |
IN-SEMESTER BREAK |
Week 10 (30 Sep - 06 Oct) |
Lecture |
WEEK 10 | LECTURE 10: Goods & services tax In this lecture class, we will consider the basics of the goods and services tax (GST), as well as the interactions between this tax and income tax. |
Seminar |
WEEK 10 | SEMINAR 7: CGT calculations In this week's seminar classes we will cover the Topic 9 revision questions and activities. |
|
Week 11 (07 Oct - 13 Oct) |
Lecture |
WEEK 11 | LECTURE 11: Fringe benefits tax In this pre-recorded lecture, we will examine one of the major taxation issues associated with employing staff being the fringe benefits tax (FBT). We will also consider the interactions between FBT and income tax, and FBT and the GST. [Note that due to the public holiday on Monday 7 October 2024, no live lecture will be held this week]. Learning outcomes: L05 |
Seminar |
WEEK 11 | SEMINAR 8: Goods & services tax In this week's seminar classes we will cover the Topic 10 revision questions and activities. |
|
Week 12 (14 Oct - 20 Oct) |
Lecture |
WEEK 12 | LECTURE 12: Business structures In this lecture class, we will look at the common business structures used in Australia: sole traders, partnerships, trusts and companies. In particular, we will examine the taxation consequences of using each of these structures. We will also review the imputation system. Note that due to time constraints, some parts of this lecture will be covered via pre-recorded lecture videos. Learning outcomes: L02 |
Seminar |
WEEK 12 | SEMINAR 9: Fringe benefits tax In this week's seminar classes we will cover the Topic 11 revision questions and activities. Learning outcomes: L05 |
|
Week 13 (21 Oct - 27 Oct) |
Lecture |
WEEK 13 | REVISION LECTURE In this week's lecture class, we will recap some of the main points covered in the course and discuss the final exam format. |
Seminar |
WEEK 13 | SEMINAR 10: Business structures In this week's seminar classes we will cover the Topic 12 revision questions and activities. |
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: