BTC3350 - Business taxation and GST

Leader: Mr Anthony van der Westhuysen

Offered

Clayton Second semester 2007 (Day)

Synopsis

Taxation of business income and abnormal receipts. Business tax reform including the Goods and Services Tax and Ralph Committee reforms. Tax planning issues on acquisition and disposal of a business. Remuneration planning, retirement and estate planning.

Objectives

The learning objectives of this unit are to:

• Describe the taxation issues associated with specific regimes including the Alienation of Personal Services Income Regime, the Simplified Tax System and the PAYG Systems;
• Analyse the tax frameworks that apply when conducting a business through Companies, Trusts Partnerships or Sole Proprietors;
• Analyse business transactions in the context of the Goods and Services Tax;
• Apply the appropriate taxation rules that govern purchases and sales of a business.

Assessment

1 Case Study (2500 words): 20%
Preparation of a Business Activity Statement (BAS): 10%
Examination (open book, 3 hours): 70%

Contact hours

3 hours per week

Prerequisites

BTC3150 or BTC3153