MA613 - Taxation Law

Credit Points: 15

Prerequisite: MA506 - Business & Company Law

Co-requisite: N/A

Workload: 36 contact hours

Campus: Melbourne, Sydney


Aims & Objectives

MA613 Taxation Law deals with the operation of Australian Income Tax Law and more particularly the Income Tax Assessment Act. It aims for students to gain a general understanding of the operation of the Australian tax legislation. It provides students with specific skills and knowledge in the preparation of financial reports, understanding of taxation legislation, case laws and income tax returns. Students will understand that accounting for revenue and expenditure under general accounting principles will differ for accounting for revenue and expenditure under income tax law.

Unit topics include:

  1. Legal Framework – Taxation;
  2. Legislations Residence and Source;
  3. Assessable Income – Ordinary Income and Statutory Income;
  4. Carrying on a Business – Income from Business;
  5. Trading Stock;
  6. Capital Gains Tax;
  7. Fringe Benefits Tax;
  8. General Deductions;
  9. Capital v Revenue;
  10. Specific Deductions;
  11. Taxation of Entities (Company, Partnership, Trusts); and
  12. Goods & Services Tax.

Learning Outcomes

At the completion of this unit students will be able to:

  1. Appreciate and understand the factors influencing the creation and interpretation of income tax legislation, and their relationship to accounting concepts and practice;
  2. Explain and discuss income tax law in Australia and more particularly, the taxation of capital gains, fringe benefits tax, goods and services tax and small business tax concessions;
  3. Explain and demonstrate how to calculate the taxable income for different types of taxable entities;
  4. Apply technical knowledge and analytical skills to evaluate and solve tax problems; and
  5. Communicate knowledge of the importance of income tax law within the practice of accounting to specialist and non-specialist audiences

Teaching Method

Lecture: 2 hours
Tutorial/Workshop: 1 hour


Students are advised to check the unit outline for prescribed Textbooks.

Reference Reading

Students are advised to check the unit outline for additional reference materials.