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Taxation

Unit Code: HBC331N




Duration

Contact Hours

Campus

Prerequisite

Corequisite

One Semester or Term

36 Hours

Hawthorn, Sarawak

HBC221N Financial Accounting is recommended

 Nil

Credit Points: 12.5 Credit Points

Related Course/s:

A unit of study in the Bachelor of Commerce suite.

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Aims & Objectives:

At the completion of this unit, students will be able to:
  • Understand the basic concepts of income, capital and gifts
  • Understand the rules governing allowable deductions and calculate taxable income
  • Understand basic principles of the Fringe Benefit Taxation legislation
  • Understand the complexities of taxation in relation to various taxable entities
  • Research and explain the importance of current and landmark taxation decisions issued by the Courts and Administrative Appeals Tribunal
  • Understand the major principles of tax planning issues and concepts

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Teaching Methods:

Lecture (1 hour), Tutorials (2 hours)
Lectures will be used to introduce the topics and resources and demonstrate concepts.
 
Tutorials will provide a forum for demonstration, discussion and topic questions and to give students opportunities to gain experience in problem solving and communication.

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Assessment:

Mid-semester test 20%-40%; group presentation 10%;  final examination 50%-70%.

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Generic Skills Outcomes:

The graduate attributes which relate to this unit help to produce graduates who are:
  • Capable in their chosen professional, vocational or study areas
  • Entrepreneurial in contributing to innovation and development within their business, workplace or community
  • Effective and ethical in work and community situations
  • Adaptable and able to manage change
  • Aware of local and international environments in which they will be contributing (eg socio-cultural, economic, natural)

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Content:

  • Concepts of income and assessable income
  • Distinction between income and capital
  • Fringe Benefits Tax
  • Capital Gains Tax
  • Source, residency and derivation
  • General and specific deductions; non-deductions
  • Companies and shareholders
  • Individuals and partnerships

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Reading Materials:

Students are advised to check the unit outline in the relevant teaching period for appropriate textbooks and further reading.

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