Newcastle Business School
ACFI3004: Taxation
2022
CRICOS Provider
00109J
MISSION: Our mission is to advance responsible and impactful business knowledge. To achieve
our mission, we develop life ready graduates and build global and local partnerships through
ethical and innovative practices.
OVERVIEW
Course Description Australian income tax laws are complex and varied. This course
introduces you to Australian taxation laws with specific emphasis onhow
to access provisions of the Income Tax Assessment Act and related
legislation. In addition, you will be made aware of tax planning issues
that exist in relevant personal and business environments and learn
how to communicate technical tax information to client taxpayers.The
graduate qualities of problem solving, decision-making and
communication are enhanced throughout.
Please note: Students will study in the format that complies with COVID-19 restrictions in
place at the time. This may mean face to face in person delivery or live delivery via
technology.
Contact Hours Integrated Learning Session
Face to Face on Campus
2 hour(s) per Week for Full Term
Students are expected to complete 4 hours of guided learning via
online preparation, lectures, interactive workshops, tutorials,
discussion groups or self-directed learning and an additional 6 hours
of independent study per week.
Unit Weighting 10
Pre-requisites Students must have successfully completed ACFI1001.
Workload Students are required to spend on average 120-140 hours of effort
(contact and non-contact) including assessments per 10 unit course.
Please refer to the course CANVAS site for details of teaching staff for ALL course offerings.
The primary contact for courses is the Course Coordinator, whose details are listed on the
course CANVAS site.
Course Learning
Outcomes
On successful completion of this course, students will be able to:
1. Demonstrate specific knowledge of Australian Taxation Law.
2. Access provisions of the Income Tax Assessment Act and related
legislation.
3. Analyse, evaluate and synthesise information to solve tax problems.
4. Recognise and interpret tax planning, tax avoidance and tax
evasion issues in particular situations.
5. Communicate technical tax information to client taxpayers.
6. Demonstrate a practical knowledge of non-complex international
transactions.
ACFI3004: Taxation – 2022
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ASSESSMENT DETAILS
This course has 3 assessments. Each assessment is described in more detail in the sections below
Assessment
Name
Due
Date
Involvement Weighting Learning
Outcomes
1 Mid-Semester Quiz Open: Monday, Week 6 at 8:00am SGT
Close: Tuesday, Week 6 at 8:00pm
SGT
Individual 25% 1,2,3,4,5
2 Written Assignment Sunday, Week 10 by 12:00am
(midnight) SGT
Individual 25% 1,2,3,5
3 Final Examination During formal exam period Individual 50% 1,2,3,4,5,6
Please note: students are advised that all assessments must be submitted in English. Assessment items
not submitted in English will receive a mark of zero.
Results of individual assessment items and final results, including those provided via the Learning
Management System (LMS) are ‘unofficial results’ until they are confirmed as finalised by the School
Assessment Body and the Head of School or delegate. Finalised results are released directly to students on
the Fully Graded Date of the relevant Semester/Trimester.
Late Submissions The mark for an assessment item submitted after the designated time on the due date,
without an approved extension of time, will be reduced by 10% of the possible maximum
mark for that assessment item for each day or part day that the assessment item is late.
Note: this applies equally to week and weekend days.
Assessment 1 – Mid Semester Quiz
Assessment Type Quiz
Purpose The multiple-choice quiz assesses students’ progressive knowledge of, and
abilityto apply, Australian income tax laws and principles studied in Topics 1 to
5.
Description Working independently, students engage in preliminary application of critical thinking
andproblem solving to analyse, evaluate and synthesis information to solve tax
problems.
Offshore students may be required to complete this assessment during
scheduledclass time. Please see course CANVAS site for further details.
Weighting 25%
Length 60 minutes
Due Date Face to face students: Online via course CANVAS site
Offshore students: Online via course CANVAS site
Submission Method Online via course CANVAS site
Assessment Criteria Accuracy of multiple-choice option selected
Return Method Mark advised online via course CANVAS site
Feedback Provided Opportunity for individual verbal feedback by consultation
Assessment 2 – Written Assignment
Assessment Type Written Assignment
Purpose The purpose of this assignment is to assess students’ capacity to interpret Australian
Income Tax Legislation and related case law
Description Students apply critical thinking and problem solving to analyse, evaluate and synthesis
information to solve tax problems and communicate technical tax information to client
taxpayers.
Weighting 25%
Length To be advised
Due Date Sunday, Week 10 by 12:00am (midnight) SGT
Submission Method Online – via course CANVAS site
Assessment Criteria The following four (4) assessment criteria will be used:
ACFI3004: Taxation – 2022
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– Relevance to the question.
– Accuracy of information/argument.
– Clarity of expression.
– Referencing to relevant tax legislation, case law and ATO rulings
Return Method Online via course CANVAS site
Feedback Provided Online – CANVAS View. Written feedback provided
Assessment 3 – Final Examination
Assessment Type Formal Examination
Purpose The purpose of the final examination is to assess students’ capacity to interpret
Australian Tax Legislation and related case law.
Description Students apply critical thinking and problem solving to analyse, evaluate and synthesis
information to solve tax problems.
Weighting 50%
Length 120 minutes
Off-shore students: May be varied depending upon COVID-19 restrictions
Due Date Formal Exam Period
Submission Method Formal Examination
Assessment Criteria The following criteria will be used:
– Relevance to the question.
– Accuracy of information/argument.
– Clarity of expression.
– Referencing to relevant tax legislation, case law and ATO rulings
Return Method Not Returned
Feedback Provided No Feedback. Examination scripts will not be returned to students. Final examination
scripts will be made available for review by students, upon request, in a controlled
and monitored setting. Students are required to make requests, directly to the
relevant course coordinator. Completed examination scripts are kept by the
Newcastle Business School for a period of six (6) months only, from the relevant fully
graded date. Requests made after the six (6) month period cannot be considered.
SYLLABUS
Course Content Topics in the course include but are not limited to the following:
1. International Taxation
2. Assessable Income Ordinary Income
3. Assessable Income Other Issues
4. Deductions – General Deductions
5. Deductions – Specific Deductions
6. Calculation of Individual Taxation
7. Depreciating Assets
8. Retirement Payments
9. Capital Gains Tax
10. Good and Services Tax
11. Fringe Benefits Tax
12. Companies, Partnerships and Trusts
Course Materials Required Text:
Sadiq, K., Black, C., Hanegbi, R., Krever, R. E., Jogarajan, S., Obst, W., & Ting, A. K. F.
(2022). Principles of Taxation Law 2022 (No. 15th). Thomson Lawbook Co.
ISBN: 9780455245751
An additional Readings list will be provided on the course CANVAS site.
ACFI3004: Taxation – 2022
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SCHEDULE
Week Topic Assessment
1 Australian Taxation Law and the Administrative Framework.
Residency and Source
2 Assessable Income – Ordinary Income
3 Business Receipts, Statutory Income and Exempt Income
4 Deductions – General Deductions
5 Deductions – Specific Deductions and Substantiation
6 Small Business Concessions and Depreciating Assets Assessment 1 due: Mid Semester
Quiz online via course CANVAS
site.
7 Calculation of Individuals’ Income Tax. Non-Complex
International Transactions
8 Retirement and Termination Payments
9 Capital Gains Tax
10 Goods and Services Tax Assessment 2 due: Sunday, Week
10 by 12:00am (midnight) SGT
11 Fringe Benefits Tax
12 Companies, Partnerships and Trusts
13 Revision and Exam Preparation
Please note: Assessment completion and submission methods for Offshore students will vary
depending upon COVID-19 restrictions. Please refer to the course CANVAS site for further details.
If a lecture/class is scheduled on a public holiday, a make-up lecture may be announced by the course
coordinator on the course CANVAS site.
ACFI3004: Taxation – 2022
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CONTACTS
School Offices Newcastle Business School – Callaghan, Newcastle City & Online
NU Space
409 Hunter Street
Newcastle
nbs.enquiries@newcastle.edu.au
+61 2 4921 5511
Newcastle Business School – Ourimbah/Gosford
BO1.13, Business Offices
Ourimbah
cccbusiness-school@newcastle.edu.au
+61 2 4349 4453
Newcastle Business School – Sydney
55 Elizabeth Street
Sydney
nbs-sydney@newcastle.edu.au
+61 2 82626432
PSB Academy Enquiries
Ph: +65 6390 9000
Log your question or request to the PSB Program Executives at the following website:
http://www.psb-academy.edu.sg/enq
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ADDITIONAL INFORMATION
Grading Scheme This course is graded as follows:
Range of
Marks
Grade Description
85-100 High
Distinction
(HD)
Outstanding standard indicating comprehensive knowledge
and understanding of the relevant materials; demonstration of
an outstanding level of academic achievement; mastery of
skills*; and achievement of all assessment objectives.
75-84 Distinction
(D)
Excellent standard indicating a very high level of knowledge
and understanding of the relevant materials; demonstration of
a very high level of academic ability; sound development of
skills*; and achievement of all assessment objectives.
65-74 Credit
(C)
Good standard indicating a high level of knowledge and
understanding of the relevant materials; demonstration of a
high level of academic achievement; reasonable development
of skills*; and achievement of all learning outcomes.
50-64 Pass
(P)
Satisfactory standard indicating an adequate knowledge and
understanding of the relevant materials; demonstration of an
adequate level of academic achievement; satisfactory
development of skills*; and achievement of all learning
outcomes.
0-49 Fail
(FF)
Failure to satisfactorily achieve learning outcomes. If all
compulsory course components are not completed the mark
will be zero. A fail grade may also be awarded following
disciplinary action.
*Skills are those identified for the purposes of assessment task(s).
Communication
Methods
Communication methods used in this course include:
– CANVAS Course Site: Students will receive communications via the posting of content
or announcements on the CANVAS course site.
– Email: Students will receive communications via their student email account.
– Face to Face: Communication will be provided via face to face meetings or supervision.
Course Evaluation Each year feedback is sought from students and other stakeholders about the courses offered
in the University for the purposes of identifying areas of excellence and potential
improvement.
Oral Interviews As part of the evaluation process of any assessment item in this course an oral examination
may be conducted. The purpose of the oral examination is to verify the authorship of the
material submitted in response to the assessment task. The oral examination will be
conducted in accordance with the principles set out in the Oral Examination Guidelines. In
cases where the oral examination reveals the assessment item may not be the student’s own
work the case will be dealt with under the Student Conduct Rule.
Academic Misconduct All students are required to meet the academic integrity standards of the University. These
standards reinforce the importance of integrity and honesty in an academic environment.
Academic Integrity policies apply to all students of the University in all modes of study and in
all locations. For the Student Academic Integrity Policy, refer to
https://policies.newcastle.edu.au/document/view-current.php?id=35.
Adverse
Circumstances
You are entitled to apply for special consideration because adverse circumstances have had
an impact on your performance in an assessment item. This includes applying for an
extension of time to complete an assessment item. Prior to applying you must refer to the
Adverse Circumstances Affecting Assessment Items Procedure, available at
https://policies.newcastle.edu.au/document/view-current.php?id=236. All applications for
Adverse Circumstances must be lodged via the online Adverse Circumstances system, along
with supporting documentation.
Important Policy
Information
The ‘HELP for Students’ tab in UoNline contains important information that all students should
be familiar with, including various systems, policies and procedures.
This course outline was approved by the Head of School. No alteration of this course outline is permitted without Head of School
approval. If a change is approved, students will be notified and an amended course outline will be provided in the same manner as
the original.
? 2022 The University of Newcastle, Australia
