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Unit outline_

LAWS3412: Australian Income Tax

Intensive December, 2022 [Block mode] - Camperdown/Darlington, Sydney

This unit introduces the Australian income tax system by exploring the operation of the tax statutes (and cases interpreting them), the underlying principles that those laws seek to implement, and fundamental issues in tax policy. The topics covered include the concept and categories of income; the calculation and treatment of capital gains; the taxation of remuneration including fringe benefits; business income; deductions; the basics of trading stock accounting and depreciation; an introduction to the taxation of partnerships, trusts and companies; the tax assessment process; the Goods and Services Tax; legislative responses to tax avoidance; and the ethical responsibilities of tax advisers. This unit is a prerequisite for Advanced Taxation Law.

Unit details and rules

Academic unit Law
Credit points 6
Prerequisites
? 
None
Corequisites
? 
None
Prohibitions
? 
LAWS5112
Assumed knowledge
? 

None

Available to study abroad and exchange students

No

Teaching staff

Coordinator Micah Burch, micah.burch@sydney.edu.au
Lecturer(s) Micah Burch, micah.burch@sydney.edu.au
Type Description Weight Due Length
In-semester test (On-campus supervised) In-semester test (On-campus supervised) (40%)
In-semester test (short release) 1.5 hours plus 30 mins reading time.
40% Week 03
Due date: 08 Dec 2022 at 09:00
1.5 hours
Outcomes assessed: LO1 LO2 LO3 LO4 LO5
Final exam (Take-home short release) Type D final exam Final take-home exam (60%)
Final Take-home exam (short release) 2.5 hours plus 30 mins reading time
60% Week 08
Due date: 11 Jan 2023 at 10:00
2.5 hours
Outcomes assessed: LO1 LO2 LO3 LO4 LO5
Type D final exam = Type D final exam ?

Assessment summary

In-semester test (short release) (40%) will be an on-campus supervised test. It will be held in the normal class time on Tuesday the 8th of December 2022 at 9:00am (Sydney Australia time). Answers are due same day, 11.00am.

The test will be comprised of a variety short-response questions, problem-based questions, and more open-ended policy questions. The test may cover any material addressed in the class up to the in-semester test.

Total duration of the test is 1.5 hour plus 30 minutes reading time. Your responses are to be handwritten and there is no word limit.

 

Final take-home exam (short release) (60%) will be held on Wednesday the 11th of January 2023 at 10.00am (Sydney Australia time).

It will be comprised of a variety of short-response questions, problem-based questions, and more open-ended policy questions covering all material covered in class.

You will have 2.5 hours writing time plus 30 minutes reading time and there is a strict word limit of 2500 words for this exam, including all references. Any words more than 2500 will not be read or marked.

 

The outcome of a successful Special Consideration application for both assessments is a replacement exam. The replacement exam may be delivered via an alternative assessment, such as a viva voce (oral exam), that has been designed to meet the same learning outcomes as the original exam. The format of the alternative assessment will be determined by the unit coordinator.

Assessment requirement to pass a unit of study: A student must make a genuine attempt at all assessment tasks set out in this Unit of Study to obtain a Pass mark and grade (or above); otherwise, an Absent Fail grade will be recorded as the student’s result for this Unit of Study.

 

Assessment criteria

The University awards common result grades, set out in the Coursework Policy 2014 (Schedule 1).

As a general guide, a high distinction indicates work of an exceptional standard, a distinction a very high standard, a credit a good standard, and a pass an acceptable standard.

Result name

Mark range

Description

High distinction

85 - 100

  • Completely answers the question.
  • Contains striking originality of approach or analysis.
  • Demonstrates exhaustive or innovative research (where independent research required).
  • Exceptionally well written, structured and expressed.
  • Is otherwise exceptional in some way.

Distinction

75 - 84

  • Completely answers the question.
  • Achieves a critical and evaluative approach to the issues.
  • Content and structure is well organised in support of the argument.
  • Demonstrates extensive research and analysis to support a well-documented argument.
  • Generally well expressed and free from errors.
  • Has a clear structure and is well articulated.

Credit

65 - 74

  • Covers main issues fairly well in answering the question.
  • Contains no significant errors.
  • Demonstrates an attempted critical approach to the issues.
  • Demonstrates reasonably sound research and analysis in addressing the key issues.
  • Has a clear structure and reasonably clear expression.

Pass

50 - 64

  • Identifies the key issues, but does not follow through with a reasoned argument.
  • Contains some significant errors.
  • Displays satisfactory engagement with the key issues.
  • Offers a descriptive summary of material relevant to the question.
  • Superficial use of material, and may display a tendency to paraphrase.
  • Demonstrates little evidence of in-depth research or analysis.
  • Adequate expression.
  • Overall, demonstrates the minimum level of competence in the assessment and satisfies the requirements to proceed to higher-level studies in the degree or subject area.

Fail

0 - 49

  • Does not answer the question.
  • Contains significant or numerous errors.
  • Few or no identifiable arguments.
  • Content that is inappropriate or irrelevant.
  • Lack of research or analysis.
  • Difficult or impossible to understand through poor grammar, expression or structure.
  • Overall, does not demonstrate the minimum level of competence in the assessment.

For more information see guide to grades.

Late submission

In accordance with University policy, these penalties apply when written work is submitted after 11:59pm on the due date:

  • Deduction of 5% of the maximum mark for each calendar day after the due date.
  • After ten calendar days late, a mark of zero will be awarded.

This unit has an exception to the standard University policy or supplementary information has been provided by the unit coordinator. This information is displayed below:

Late penalties do not apply to exams and tests and any late submission will not be accepted.

Academic integrity

The Current Student website provides information on academic integrity and the resources available to all students. The University expects students and staff to act ethically and honestly and will treat all allegations of academic integrity breaches seriously.

We use similarity detection software to detect potential instances of plagiarism or other forms of academic integrity breach. If such matches indicate evidence of plagiarism or other forms of academic integrity breaches, your teacher is required to report your work for further investigation.

Use of generative artificial intelligence (AI) and automated writing tools

You may only use generative AI and automated writing tools in assessment tasks if you are permitted to by your unit coordinator. If you do use these tools, you must acknowledge this in your work, either in a footnote or an acknowledgement section. The assessment instructions or unit outline will give guidance of the types of tools that are permitted and how the tools should be used.

Your final submitted work must be your own, original work. You must acknowledge any use of generative AI tools that have been used in the assessment, and any material that forms part of your submission must be appropriately referenced. For guidance on how to acknowledge the use of AI, please refer to the AI in Education Canvas site.

The unapproved use of these tools or unacknowledged use will be considered a breach of the Academic Integrity Policy and penalties may apply.

Studiosity is permitted unless otherwise indicated by the unit coordinator. The use of this service must be acknowledged in your submission as detailed on the Learning Hub’s Canvas page.

Outside assessment tasks, generative AI tools may be used to support your learning. The AI in Education Canvas site contains a number of productive ways that students are using AI to improve their learning.

Simple extensions

If you encounter a problem submitting your work on time, you may be able to apply for an extension of five calendar days through a simple extension.  The application process will be different depending on the type of assessment and extensions cannot be granted for some assessment types like exams.

Special consideration

If exceptional circumstances mean you can’t complete an assessment, you need consideration for a longer period of time, or if you have essential commitments which impact your performance in an assessment, you may be eligible for special consideration or special arrangements.

Special consideration applications will not be affected by a simple extension application.

Using AI responsibly

Co-created with students, AI in Education includes lots of helpful examples of how students use generative AI tools to support their learning. It explains how generative AI works, the different tools available and how to use them responsibly and productively.

WK Topic Learning activity Learning outcomes
Ongoing Intro; Tax Policy, Australia's Tax System, Concepts of income. Seminar (6 hr) LO1 LO2 LO3 LO4 LO5 LO6
Income from property & CGT, Compensation/periodic receipts, Services income & FBT. Seminar (7 hr) LO1 LO2 LO3 LO4 LO5
Business income, Deductions: Relevance, Deductions: Capital/revenue. Seminar (6 hr) LO1 LO2 LO3 LO4 LO5
Quiz, Deductions: Depreciation, Deductions: Trading stock. Seminar (7 hr) LO1 LO2 LO3 LO4 LO5
Entities (Partnerships, Trusts), Entities (Companies), Entities (Imputation) . Seminar (7 hr) LO1 LO2 LO3 LO4 LO5
International tax, Tax administration, Ethics and avoidance, GST. Seminar (6 hr) LO1 LO2 LO3 LO4 LO5 LO6

Attendance and class requirements

Attendance: All students are required to attend 70% of classes (or as otherwise specified by the Unit Coordinator) to satisfy the pass requirements for each unit of study. Attendance requirements may be satisfied by in person attendance as specified by the Unit Coordinator. Failure to meet this requirement may result in a student being precluded from sitting the final assessment.  

Word count penalty: A piece of assessment which exceeds the prescribed word limit will attract a penalty of 10% of the total marks available for the piece of assessment for every 100 words, or part thereof. The total word count for essay and other written assessments will exclude: bibliography; footnote numbers; footnote citation; cover page and include: body text; headings and sub-headings; quotations; anything other than numbers and citations in footnotes.  

Referencing: The Sydney Law School expects you to use the Australian Guide to Legal Citation (4th edition, 2018) for your footnoting style, although you should confirm this with your lecturer, and a link to the library website where this is set out comprehensively is available at https://libguides.library.usyd.edu.au/c.php?g=508212&p=3476376  

 

Study commitment

Typically, there is a minimum expectation of 1.5-2 hours of student effort per week per credit point for units of study offered over a full semester. For a 6 credit point unit, this equates to roughly 120-150 hours of student effort in total.

Required readings

The details of required readings for each topic are provided on Canvas.

Additional readings for this unit can be accessed through the Library eReserve, available on Canvas.

  • Required casebook: Cooper, Dirkis, Stewart and Vann, Income Taxation: Commentary and Materials, 9th edition (Thomson Reuters, 2020).
  • Required legislation: the 2021 edition of the student consolidated version of Income Tax Assessment Act 1997 (ITAA 1997) and Income Tax Assessment Act 1936 (ITAA 1936).

Learning outcomes are what students know, understand and are able to do on completion of a unit of study. They are aligned with the University's graduate qualities and are assessed as part of the curriculum.

At the completion of this unit, you should be able to:

  • LO1. explain the major themes in the history and motivating policy of taxation law
  • LO2. explain key features of the organising structure of taxation law (including income tax, fringe benefits tax and Goods and Services Tax) and its administration at the Commonwealth level
  • LO3. apply and further develop problem solving skills by learning how to identify tax issues (in relation to income tax, FBT and GST) in a variety of commercial and private relationships
  • LO4. identify and apply statutory tax rules and case law (in relation to income tax, FBT and GST) to factual situations involving a variety of commercial and private relationships
  • LO5. clearly and accurately communicate analysis of the tax consequences (in relation to income tax, FBT and GST) arising from a variety of commercial and private relationships
  • LO6. demonstrate competence in the exercise of professional and social responsibility in the tax context by explaining a tax lawyers’ professional and ethical responsibilities to their clients, the courts and the public in the specific context of the Tax Agents Services Act 2009 (Cth) and more broadly in relation to tax matters.

Graduate qualities

The graduate qualities are the qualities and skills that all University of Sydney graduates must demonstrate on successful completion of an award course. As a future Sydney graduate, the set of qualities have been designed to equip you for the contemporary world.

GQ1 Depth of disciplinary expertise

Deep disciplinary expertise is the ability to integrate and rigorously apply knowledge, understanding and skills of a recognised discipline defined by scholarly activity, as well as familiarity with evolving practice of the discipline.

GQ2 Critical thinking and problem solving

Critical thinking and problem solving are the questioning of ideas, evidence and assumptions in order to propose and evaluate hypotheses or alternative arguments before formulating a conclusion or a solution to an identified problem.

GQ3 Oral and written communication

Effective communication, in both oral and written form, is the clear exchange of meaning in a manner that is appropriate to audience and context.

GQ4 Information and digital literacy

Information and digital literacy is the ability to locate, interpret, evaluate, manage, adapt, integrate, create and convey information using appropriate resources, tools and strategies.

GQ5 Inventiveness

Generating novel ideas and solutions.

GQ6 Cultural competence

Cultural Competence is the ability to actively, ethically, respectfully, and successfully engage across and between cultures. In the Australian context, this includes and celebrates Aboriginal and Torres Strait Islander cultures, knowledge systems, and a mature understanding of contemporary issues.

GQ7 Interdisciplinary effectiveness

Interdisciplinary effectiveness is the integration and synthesis of multiple viewpoints and practices, working effectively across disciplinary boundaries.

GQ8 Integrated professional, ethical, and personal identity

An integrated professional, ethical and personal identity is understanding the interaction between one’s personal and professional selves in an ethical context.

GQ9 Influence

Engaging others in a process, idea or vision.

Outcome map

Learning outcomes Graduate qualities
GQ1 GQ2 GQ3 GQ4 GQ5 GQ6 GQ7 GQ8 GQ9

This section outlines changes made to this unit following staff and student reviews.

Assessment regime has been changed.

Disclaimer

The University reserves the right to amend units of study or no longer offer certain units, including where there are low enrolment numbers.

To help you understand common terms that we use at the University, we offer an online glossary.