BTW3242 - Business taxation and GST

Leader: Mr Anthony van der Westhuysen

Offered

Gippsland Second semester 2007 (Off-campus)

Synopsis

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

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 (3 hours, open book): 70%

Contact hours

2-hour lecture and 1-hour tutorial per week

Prerequisites

BTW3221 or equivalent