MLC301 - Principles of Income Tax Law
Unit details
| Year: | 2020 unit information |
|---|---|
| Important Update: | Classes and seminars in Trimester 2, 2020 will be online. Last updated: 2 June 2020 |
| Enrolment modes: | Trimester 1: Burwood (Melbourne), Warrnambool, Waterfront (Geelong), Online |
| Credit point(s): | 1 |
| EFTSL value: | 0.125 |
| Unit Chair: | Trimester 1: Monica Hope |
| Cohort rule: | Not available for Bachelor of Laws (including combined Law awards) students |
| Prerequisite: | MLC101 or MLC201 or MLL111 |
| Corequisite: | Nil |
| Incompatible with: | MLL406 |
| Typical study commitment: | Students will on average spend 150 hours over the teaching period undertaking the teaching, learning and assessment activities for this unit. |
| Scheduled learning activities - campus: | 1 x 3 hour class and 1 x 1 hour seminar per week |
| Scheduled learning activities - cloud: | 1 x 3 hour class (recordings provided) an 1 x 1 hour online seminar per week |
Content
This unit covers legal principles applicable to income taxation in Australia. Topics include: assessable income and deductions; capital gains; trading stock; taxable entities; taxation administration; Fringe Benefits Tax; and Goods and Services Tax.
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| These are the Learning Outcomes (ULO) for this Unit | Deakin Graduate Learning Outcomes |
| ULO1 | Demonstrate a working knowledge of the principles that govern the operation of the Australian income tax system, GST and FBT. | GLO1:Discipline-specific knowledge and capabilities |
| ULO2 | Demonstrate the ability to evaluate, analyse and apply selected provisions of the Income Tax Assessment Acts, and associated Acts. | GLO1:Discipline-specific knowledge and capabilities |
| ULO3 | Demonstrate the ability to read, interpret and apply relevant judicial decisions. | GLO1:Discipline-specific knowledge and capabilities |
| ULO4 | Demonstrate the skills and tools necessary to successfully research the taxation consequences of new and unfamiliar taxation law problems. | GLO1:Discipline-specific knowledge and capabilities |
Deakin Graduate Learning Outcomes
Deakin Graduate Learning Outcomes describe the knowledge and capabilities graduates have acquired and are able to apply and demonstrate at the completion of their course. They consist of outcomes specific to a particular discipline or profession as well as transferable generic outcomes that all graduates should have acquired irrespective of their discipline area. Learning outcomes are not confined to the knowledge and skills acquired within a course, but also incorporate those that students bring with them upon entry to the course consistent with the Australian Qualifications Framework pathways policy. Deakin’s courses are designed to ensure that students develop systematic knowledge and understanding of their discipline or chosen profession appropriate to their level of study. They are specified at the course level, mapped to course components and are assessed. In professionally-accredited courses, discipline-specific learning outcomes may be defined in part by the relevant professional body.
These Unit Learning Outcomes are applicable for all teaching periods throughout the year
Assessment
| Assessment Description | Student output | Grading and weighting (% total mark for unit) | Indicative due week |
| Assessment 1 (Individual) - Written Assignment | 1500 words | 20% | Week 7 |
| Assessment 2 (Individual) - Written Assignment | 1500 words | 20% | Week 9 |
| Examination | 3 hours | 60% | Exam period |
The assessment due weeks provided may change. The Unit Chair will clarify the exact assessment requirements, including the due date, at the start of the teaching period.
Hurdle requirement
Hurdle requirement: achieve at least 50% of the marks available on the examination.
Learning Resource
The texts and reading list for the unit can be found on the University Library via the link below: MLC301 Note: Select the relevant trimester reading list. Please note that a future teaching period's reading list may not be available until a month prior to the start of that teaching period so you may wish to use the relevant trimester's prior year reading list as a guide only.
Unit Fee Information
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