Monash University Handbook 2010 Undergraduate - Unit

Synopsis

An introduction to the principles of the taxation of businesses, including an examination of: value-added tax (VAT); capital allowances; business income and expenses; sole traders; partnerships; companies and close corporations; credit agreements and township developers; trust income; capital gains tax; donations tax and administrative procedures.

Objectives

The learning goals associated with this unit are to:

• develop an understanding of the South African taxation system as it impacts on businesses
• develop the capacity to calculate the tax payable by businesses
• develop an understanding of how the tax system differentiates between categories of businesses, such as sole traders, partnerships, companies, close corporations and trusts.

Assessment

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

Contact hours

One 2-hour lecture and one 1-hour tutorial per week

Prerequisites

BTW1201 and BTW2121