CQUniversity Australia - LAWS20060: Taxation Law of Australia

This unit enables students to acquire a sound knowledge of the Australian taxation system and the compliance requirements. It also provides students with an awareness of the key provisions of the relevant taxation legislation, and enables them to apply the relevant legislative concepts to determine taxation consequences. Topics include: the Constitution and taxation power; the concept, source and derivation of income; trading stock, exempt income, allowable deductions; tax offsets; and the determination of taxable income; decline in value; and miscellaneous business deducations; tax administration; fringe benefits tax; and goods and services tax.

On successful completion of this unit, you should be able to:

• Demonstrate a sound understanding of the Australian Taxation system and the sources of Australian taxation by researching and reporting on the Australian regulatory framework for taxation
• Demonstrate a professional knowledge of the main concepts and principles of Australian taxation law by analysing given business scenarios and reporting on the most appropriate planning for, or application of, Australian taxation law
• Demonstrate competence in applying Australian taxation law by calculating and reporting on the correct or most appropriate preparation of income tax returns of moderate complexity for individual taxpayers, companies, partnerships and trusts
• Analyse and report on the compliance requirements of the Australian taxation system, including a critical awareness of the concept of tax avoidance and of general tax avoidance provisions in the Australian Tax legislation