Unit of Study ACCT2001 Taxation (2024)

Unit description

Introduces students to Commonwealth and State taxation laws, with emphasis on general principles and application of each type of tax, and the role of the accountant in the administration of taxation. Students will engage in teacher-directed activities that focus on the interpretation, application and communication of particular taxation aspects governing different entity types.

Unit content

This unit develops a working knowledge of Australian Taxation legislation including Fringe Benefits Tax Assessment Act 1986, the Income Tax Assessment Act 1936 (ITAA 1936), the Income Tax Assessment Act 1997 (ITAA 1997), Taxation Administration Act 1953 (TAA 1953), Tax Agent Services Act 2009 (TASA).

Module 1: Overview of Australian income tax including payroll systems

Module 2: Income Tax – Concepts of income including statutory income and exempt income, and capital gains

Module 3: Income Tax – General and specific deductions

Module 4: Goods and services tax

Module 5: Fringe benefits tax

Module 6: Income Tax – Taxation of entities, taxation administration, tax agents, and ethics