Taxation Principles and Planning
Overview
This unit aims to foster an understanding of the policy, principles and practice that underpin the Australian taxation system. The main emphasis is on taxation principles associated with the Income Tax Assessment Act, 1936 and 1997 as amended, together with those acts which are complementary to the Assessment Act. The unit provides students with the skills and expertise to tread more confidently through the tax law maze and enhance student’s ability to identify and evaluate taxation issues and tax planning opportunities.
Requisites
Pre-requisite
Admission into one of the following Courses
GC-FINPL Graduate Certificate of Financial Planning
OR
GC-FINPLS Graduate Certificate of Financial Planning
OR
GD-FINPL Graduate Diploma of Financial Planning
OR
GD-FINPLS Graduate Diploma of Financial Planning
OR
MA-FINPL Master of Financial Planning
OR
MA-FINPLS Master of Financial Planning
OR
Concurrent Pre-requisite
ACC60005 Accounting Principles
OR
ACC60008 Accounting Systems and Reporting
09-February-2025
01-June-2025
05-October-2025
02-November-2025
Learning outcomes
Students who successfully complete this unit will be able to:
- Critically evaluate the various principles of taxation based on the taxation legislation and landmark taxation decisions issued by the courts and the Administrative Appeals Tribunal and the application of the key administrative provisions of the Australian taxation system.
- Apply advanced knowledge of the principles that distinguish between the concepts of income, capital and gifts and general and specific deductions; and incorporate these into a tax planning environment
- Critically analyse the complexities of taxation principles in relation to various taxable entities and analyse and critically address the key issues related to tax planning opportunities
- Apply a knowledge of research principles to work individually or collaboratively in groups to research and develop appropriate and relevant solutions to taxation issues and problems
Teaching methods
Hawthorn
| Type | Hours per week | Number of weeks | Total (number of hours) |
|---|---|---|---|
| On-campus Class | 2.00 | 12 weeks | 24 |
| Unspecified Activities Independent Learning | 9.50 | 12 weeks | 114 |
| Online Lecture | 1.00 | 12 weeks | 12 |
| TOTAL | 150 |
Swinburne Online
| Type | Hours per week | Number of weeks | Total (number of hours) |
|---|---|---|---|
| Online Directed Online Learning and Independent Learning | 12.50 | 12 weeks | 150 |
| TOTAL | 150 |
Assessment
| Type | Task | Weighting | ULO's |
|---|---|---|---|
| Examination | Individual | 40 - 60% | 1,2,3 |
| Research Assignment | Group | 20 - 30% | 1,2,3,4 |
| Test | Individual | 20 - 30% | 1,2 |
Content
- Fundamental income tax principles
- Tax administration (TPB & TASA – Ethical Responsibilities)
- Concepts of income, specific income types
- Income and capital
- Capital gains tax
- Fringe benefits tax
- Source, residency and derivation
- International tax agreements (DTA’s)
- General deductions and non-deductions
- Specific deductions
- Taxation of companies and shareholders
- Taxation of individuals and partnerships
- Taxation of Trusts and Superannuation and Tax Strategies in Financial Planning
Study resources
Reading materials
A list of reading materials and/or required textbooks will be available in the Unit Outline on Canvas.