Small Business Structures and Taxation (BUSS2220)

UNIT OF STUDY

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.

Our courses that offer this unit of study

Further unit of study information

Classes

Wks 2 and 10: Saturday and Sunday 9am-1pm workshops and online modules on Blackboard

Assessment

taxation portfolio (50%), presentation (20%), and exam (30%)

Faculty/department permission required?

No

Unit of study rules

Prerequisites and assumed knowledge

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

Study this unit outside a degree

Non-award/non-degree study

If you wish to undertake one or more units of study (subjects) for your own interest but not towards a degree, you may enrol in single units as a non-award student.

Cross-institutional study

If you are from another Australian tertiary institution you may be permitted to underake cross-institutional study in one or more units of study at the University of Sydney.