MLC703 - Principles of Income Tax Law
Unit details
Year: | 2021 unit information |
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Important Update: | Unit delivery will continue to be provided in line with the most current COVIDSafe health guidelines. This may include a mix of on-campus and online activities. To find out how you are impacted, please check your unit sites for announcements and updates. Unit sites open one week prior to the start of each Trimester/Semester. Thank you for your flexibility and commitment to studying with Deakin in 2021. Last updated: 4 June 2021 |
Enrolment modes: | Trimester 2: Burwood (Melbourne), Online |
Credit point(s): | 1 |
EFTSL value: | 0.125 |
Unit Chair: | Trimester 2: Rami Hanegbi |
Prerequisite: | Nil |
Corequisite: | Nil |
Incompatible with: | MAA790, MLC731 |
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 2 hour class and 1 x 1 hour seminar per week |
Scheduled learning activities - cloud: | 1 x 2 hour class (recordings provided) and 1 x 1 hour online seminar per week |
Content
The unit aims to familiarise students with the principles underlying the Income Tax Assessment Act (ITAA 1936 and 1997) so that they have the necessary skills to successfully approach and research complex problems involving income tax issues. Topics include: the position and importance of income tax in the range of Commonwealth and state taxes; concepts of income and capital; deductions and exemptions; tax offsets; taxation of capital gains, fringe benefits and trading stock; taxation of companies; dividend imputation; taxation of individuals, partners, trustees and beneficiaries.
ULO | These are the Learning Outcomes (ULO) for this unit. At the completion of this unit, successful students can: | Deakin Graduate Learning Outcomes |
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ULO1 | Demonstrate an understanding of the principles that govern the operation of the Australian income tax system. | GLO1: Discipline-specific knowledge and capabilities |
ULO2 | Show a knowledge of how selected provisions of the Income Tax Assessment Acts (ITAAs) and associated Acts and relevant cases operate in practice. | GLO1: Discipline-specific knowledge and capabilities |
ULO3 | Research the relevant legislation and case law to give well-argued opinions on the likely taxation consequences of medium to complex practical fact situations. | GLO3: Digital literacy |
ULO4 | Demonstrate research and analysis skills necessary to undertake in-depth research in relation to income tax law. | GLO4: Critical thinking |
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 |
Written Assignment | 3000 words | 40% | 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: MLC703 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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