Monash University Handbook 2010 Undergraduate - Unit

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. Remuneration planning, retirement and estate planning.

Objectives

The learning goals associated with 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

Within semester assessment: 30%
Examination (3 hours, open-book): 70%

Chief examiner(s)

Tony van der Westhuysen

Contact hours

3 hours per week on-campus and/or intensive mode over summer (both 39 hours in total)

Prerequisites

BTF2931 or BTF3931

Prohibitions

BTC3350, BTW3242