2014 Unit of Study

The session(s) below are for 2014. For Summer School 2014 unit of study availability please visit the Summer School website (main Summer session January/February 2014).

The University of Sydney session calendar shows exact dates for sessions.

Small Business Structures and Taxation
UoS Code BUSS2220
Credit points 6
Offered Semester 2
Prerequisites 48 credit points in junior and senior units
Prohibitions ACCT3014, CLAW2207, ACCT3013, CLAW2205, CLAW3206, CLAW3207, ACCT3099, CLAW2211, ACCT2012, CLAW2202, CLAW3201, ACCT3032, CLAW2209, ACCT3011, CLAW2203, CLAW3202, ACCT3098, CLAW2210, ACCT3012, CLAW2204, CLAW3204, ACCT3031, CLAW2208, ACCT2011, CLAW2201, CLAW2212
Assumed Knowledge
Additional Information
Lectures Wks 2 and 10: Saturday and Sunday 9am-1pm workshops and online modules on Blackboard
Assessment taxation portfolio (50%), presentation (20%), and exam (30%)
Description Many graduates will be faced with the opportunity of running a business in their chosen field and will need to have the business acumen and skills to make informed business decisions. Choosing the right business structure, and understanding and meeting taxation and superannuation obligations, are important components of operating a successful and effective business. This unit of study aims to provide prospective business operators with the tools, knowledge and information that will help them decide which legal structure best suits their needs and to meet their taxation and superannuation obligations throughout the lifecycle of their business. The subject begins with an introduction to the Australian legal and taxation systems. It is followed by the various issues that need to be considered when starting a business such as selecting the right business structure that suits the individual's needs and focuses on key registration requirements. Tax topics include income tax and deductions; the goods and services tax; special rules and concessions that apply to small business; employer obligations; record keeping; completing activity statements and common tips and traps of which those business operators should be aware.