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HOLMES INSTITUTE HI6028 Taxation Theory, Practice and Law ___________________________________________________________________________________________________ HOLMES INSTITUTE FACULTY OF HIGHER...

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HOLMES INSTITUTE
HI6028 Taxation Theory, Practice and Law
___________________________________________________________________________________________________

HOLMES INSTITUTE

FACULTY OF
HIGHER EDUCATION






HOLMES INSTITUTE

FACULTY OF HIGHER EDUCATION





UNIT OUTLINE


Hl6028 Taxation Theory, Practice and Law
2020




























HI6028 Taxation Theory, Practice and Law 2



UNIT ADMINISTRATION

Level Duration Core/Elective Unit weight
Postgraduate 1 trimester Core 3 credit points

Mode of delivery Online
Prerequisites HI6027 Business and Corporate Law
Workload Students are expected to attend all classes
Delivery 1.5 hrs of pre-recorded lectures, 1.5 hrs of tutorial activities
Independent study 5 hrs


CONTACT DETAILS

Unit Coordinator Ali Yousefi XXXXXXXXXX

Students please note:
Holmes Institute provides each student with a Holmes webmail. Faculty and Administrative staff can only
communicate with you using your Holmes Institute mail address. Emails from private and/or business email
accounts cannot be used and may not be answered.

UNIT DESCRIPTION

Welcome from the Unit Coordinator, Ali Yousefi

Welcome to HI6028 Taxation Theory, Practice and Law. This unit is designed to introduce students to the
fundamentals of relevant legislation concerning taxation law and its application. The unit covers all major topics
underpinning the Australian tax system including income tax liability, residence & source, income, capital gains
tax, fringe benefits tax, goods and services tax, deductions, capital write-offs & allowances, taxation of
partnerships, rusts & companies, consolidated groups, transfer pricing, general anti-avoidance provisions and
income tax administration.

The unit equips students with a sound understanding of the principles and the practical aspects of Australian
Taxation Law in relation to income tax for individuals and other entities, and how to apply taxation principles to
eal life problems. The emphasis is placed on a general and
oad understanding of taxation law and practices. In
particular, case studies are extensively used in the unit to further enhance the students to learn and develop
problem solving skills.

This unit is accredited by Chartered Accountants Australia and New Zealand and CPA Australia for covering the
core areas of competencies for professional accountants. For further information, please check the following
website:

Chartered Accountants Australia and New Zealand (https:
www.charteredaccountantsanz.com/)
CPA Australia (https:
www.cpaaustralia.com.au/).
HI6028 Taxation Theory, Practice and Law 3
UNIT LEARNING OUTCOMES

On completion of this unit students will be able to:
 Demonstrate an understanding of the Australian income tax system, the concepts of income and deductions,
CGT, FBT, GST general anti-avoidance provisions and income tax administration.
 Identify and critically analyse taxation issues.
 Interpret the relevant taxation legislations and case law.
 Apply taxation principles to real life problems.

STUDENT ASSESSMENT OVERVIEW

ASSESSMENT TYPE – ONLINE MODE DUE DATE WEIGHT LENGTH LEARNING OUTCOMES
Online Test Week 7 25% 1.5 Hours 2, 3
Individual Assignment Week 10 25% 2,000 Words 1, 2,3,4
Tutorial Question Assignment 1 Week 8 25% 2, 3, 4
Tutorial Question Assignment 2 Week 13 25% 2, 3, 4
UNIT LECTURE SCHEDULE / SYLLABUS

Online Mode

Week Topics scheduled Assessments Chapters
1 Tax Law Research and Interpretation, Legislative
Framework of the Australian Tax system, Sources of
taxation law
2, 3, 4
2 Income Tax Formula, Income Tax Rates, and
Residence and Source
8, 9
3 Ordinary Income 10
4 Statutory Income, Exempt Income, Non-Assessable Non-
Exempt Income, General Deductions
11, 12, 13
5 Specific Deductions
Provisions that Deny or Limit Deductions
14, 15
6 Capital Write-offs and Allowances, and Tax Offsets 8, 16
7 Fringe Benefits Tax Online Test 19
8 Capital Gains Tax Tutorial Question
Assignment 1
18
9 Goods and Services Tax 7
10 Taxation of Companies Group Assignment 24
11 Tax evasion, tax avoidance, and tax planning; General
anti-avoidance tax provisions; and Income tax returns,
assessments, rulings, appeals, and audits
40, 41, 43
12 The taxation of partnerships; the taxation of trusts and
Trading Stock.
17, 25, 26
13 Revision Week Tutorial Question
Assignment 1
HI6028 Taxation Theory, Practice and Law 4
UNIT MATERIALS AND RESOURCES

Prescribed Textbook:
Barkoczy, S., Foundations of Taxation Law 2019, 11th ed. Docklands, Victoria : Oxford University Press, Australia.

Recommended Readings:
Barkoczy, S., Rider, Cameron, author, Baring, John, author, & Bellamy, Neil, author XXXXXXXXXXAustralian tax
casebook (14th ed.).

Pinto, D., Kendall, Keith, author & Sadiq, Ke
ie, author, 2019. Fundamental tax legislation 2019 Twenty-
seventh.

Sadiq, K. et al., 2019. Principles of taxation law 2019, Thomson Reuters (Professional) Australia Limited.

Wolters Kluwer Law & Business, issuing body & CCH Australia Limited, publisher, 2019. Australian master tax
guide 2019. 64th ed.

STUDENT ASSESSMENT SUBMISSION AND LATE PENALTIES

To be eligible to pass this unit, you should complete all forms of assessment and demonstrate achievement of
the learning outcomes. All assignments must be submitted electronically ONLY, uploaded to Blackboard via the
Final Check and Submission of SafeAssign.

Submission deadlines are strictly enforced and a late submission incurs penalties. For full details, please refer to
your Student Handbook. Students can access the Assessment and Marking Policy online
(https:
www.holmes.edu.au/pages/about/policies).

Tests
For units for which a test is part of the assessments, you need to follow the instructions on Blackboard and given
y your lecturer in class. You also need to follow any relevant announcement on Blackboard that confirm the
date/time and room of the test. Please note that for many units the test will be held online. Where applicable,
you can obtain further details via Blackboard, as well as from your lecturer in class.

Business Presentations
You are expected to a
ive for any presentation ahead of time. If you are late for your presentation, you may not
e eligible to present and may not receive any marks. Where a business presentation involves a group, it is
expected that all group members are present. Unless your lecturer advises otherwise, students are expected to
dress in business attire.

VIEWING STUDENT GRADES AND ASSESSMENTS

Students can view their results for assessments and overall results. For further details, including the fee applica-
le, please refer to your Student Handbook. Students can access the Assessment Feedback and Review Policy
and Procedures online (https:
www.holmes.edu.au/pages/about/policies).

Supplementary Assessments
A Supplementary Assessment will be granted to a student who has met each of the following conditions:

 The student has achieved a grade of less than 50% in a previous attempt at the unit;
 The student has submitted all required assessment items for the unit; and
 The student’s name has not been recorded in the Academic Misconduct Register in relation to the unit
of the supplementary assessment occurs.

The student will be informed by Faculty of a supplementary examination within ten (10) working days of results
eing released.

A Supplementary examination cannot be defe
ed unless there are compelling and compassionate circumstances.

A student who attempts a supplementary assessment will not be able receive a total mark higher than 50% for
that unit.
https:
www.holmes.edu.au/pages/about/policies
https:
www.holmes.edu.au/pages/about/policies

HOLMES INSTITUTE
HI6028 Taxation Theory, Practice and Law
___________________________________________________________________________________________________

HOLMES INSTITUTE

FACULTY OF
HIGHER EDUCATION






HOLMES INSTITUTE

FACULTY OF HIGHER EDUCATION





UNIT OUTLINE


Hl6028 Taxation Theory, Practice and Law
2020




























HI6028 Taxation Theory, Practice and Law 2



UNIT ADMINISTRATION

Level Duration Core/Elective Unit weight
Postgraduate 1 trimester Core 3 credit points

Mode of delivery Online
Prerequisites HI6027 Business and Corporate Law
Workload Students are expected to attend all classes
Delivery 1.5 hrs of pre-recorded lectures, 1.5 hrs of tutorial activities
Independent study 5 hrs


CONTACT DETAILS

Unit Coordinator Ali Yousefi XXXXXXXXXX

Students please note:
Holmes Institute provides each student with a Holmes webmail. Faculty and Administrative staff can only
communicate with you using your Holmes Institute mail address. Emails from private and/or business email
accounts cannot be used and may not be answered.

UNIT DESCRIPTION

Welcome from the Unit Coordinator, Ali Yousefi

Welcome to HI6028 Taxation Theory, Practice and Law. This unit is designed to introduce students to the
fundamentals of relevant legislation concerning taxation law and its application. The unit covers all major topics
underpinning the Australian tax system including income tax liability, residence & source, income, capital gains
tax, fringe benefits tax, goods and services tax, deductions, capital write-offs & allowances, taxation of
partnerships, rusts & companies, consolidated groups, transfer pricing, general anti-avoidance provisions and
income tax administration.

Answered Same Day Jun 01, 2021 HL6028

Solution

Ishika answered on Jun 07 2021
135 Votes
HI6028
    Taxation theory, Practice & Law
    
    Student’s Details
    6/1/2020
    
Question 1
Issue
To make sure the prepaid rent for both the Casino faces is treated as capital expenditure or revenue with respect to the regulation.
Rule
A prepayment cost comes about as an a
angement and can be taken at an income of the few years and it can also be coming as an a
angement at either at the same time or to a particular extent. When a company invests money in the financial year then it cannot be considered as prepayment or prepaid expenses. According to the rules of the firm expenses cannot be paid however these expenses can be taken from the tax for the cu
ent year. In addition to this, the year when this happens would be considering the cost-cutting for the tax filing. It also implies that the company is liable to detect the estimation considered for installment which will be identified in the existing monetary gear and the company might say during the tenure period towards the beginning of the term.
Considering the 10-year extent, this can be reduced for the service period and the matter ko be resolved according to their environment condition in exchange for the amount that a company pays. Section 51 (1) of the 1936 Act can be taken into account in this case as it was applicable during the year 1995. It states that the expenditures encouraging to earn and generate the required income for actually operating for the cause of earning send this is the capital that can be acceptable for the detection and the degrees will be excluded. According to section 8-1 of the 1997 act, the balance of the income here can be considered in the dispute list, and to an appropriate extent, this section does not exclude any loss or dropping asset direct to a capital exit or loss.
"On account of GP International Pipe Coaters Pty Ltd v Federal Tax Commission"
The State Energy Commission of Western Australia with The High Court party to another has been a party to an agreement and in the case, the taxpayers have agreed to cover the pipeline to construct a little larger gas pipeline and the taxpayers who were involved in this contract have also agreed to a proper establishment. It was also mandatory to make sure the contractual requirement is complied (Aus Contract Law., 2019). The High Court argued that the taxpayer should be spending and did not support the cost for the factory construction and the condition that legally binding includes the citizens being allowed to subsidize the development of these services. The team was planning to invest in the total land however they ended up investing their resources into the outland. The essential problem of consumption especially for personal expense designs becomes the component of the advantage that the user is looking forward to and it is cu
ently for income tax purposes. Taken from the income side, the receipt abstract that the receiver does not have any sort of control over the beneficiary and his choice of spending the same as in sister and the conditions laid by the company. This is not possible to be interpreted that the money that taxpayers will be spending for the procession will be officially released in the record receipt in the capital area especially with the production of mechanical plants in...
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