Goods and Services Tax Principles A (LAWS6214)

UNIT OF STUDY

This unit introduces the key concepts that underpin the Australian GST, the policies underlying the tax, and the way those policies are (or are not) reflected in the design of the GST law. The aim is to give participants a working knowledge of the operation of the GST law and an awareness of the practical problems encountered in practice, informed by an understanding of the way in which the law is intended to operate.
The unit will commence with an examination of the basic design features of value added taxes in general and of Australia's GST in particular. It will then examine the core elements of the GST law, including: the taxpayer (entities, enterprise, and the obligation to register for GST), the liability for tax on supplies made for consideration; the value of taxable supplies and the amount of GST payable on supplies; the entitlement to input tax credits and the range of subsequent adjustments that may be required; attributing GST and input tax credits to tax periods; adjustments for adjustment events; basic principles of GST-free and input taxed supplies (including an introduction to real property transactions and intermediation services, primarily focussing on financial supplies); basic cross-border issues, including the treatment of imports and exports.

Our courses that offer this unit of study

Further unit of study information

Classes

Apr 29, 30 & May 1, 4, 5 (9-3.30)

Assessment

class work/test (35%) and 2hr closed book exam (with pre-released exam questions) (65%). A research essay may be undertaken in lieu of the exam with the permission of the Unit Coordinator.

Faculty/department permission required?

No

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.