Monash University Handbook 2011 Undergraduate - Unit

Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.

Synopsis

This unit introduces the accounts of executors, liquidators and trustees and examines how estates and trusts are taxed. It also includes an examination of: capital gains tax, donations tax, employees' and provisional tax, tax avoidance and administrative procedures, including objection and appeals. This unit is a requirement for those students following the route to the qualification of a Chartered Accountant (South Africa).

Objectives

The learning goals associated with this unit are to:

1. describe and explain the South African executors' accounts and prepare such accounts
2. calculate the tax payable on estates and trusts
3. describe and interpret the provisions regarding employees' tax and provisional tax
4. describe and explain how the tax system is administered and the process of objection and appeal
5. explain the difference between tax avoidance and tax evasion and apply the relevant

6. explain the provisions regarding donations tax and calculate donations tax
7. identify transactions that will be subject to capital gains tax and calculate the taxable amount in terms of the relevant provisions.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Contact hours

39 contact hours

Prerequisites

Student must have passed BTW3302 before undertaking this unit.

Co-requisites

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