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In understanding of the principles of taxation is one of the most important and useful tools for anyone seeking advancement to senior management status in the corporate world, to those providing accounting, financial or legal services to business or to those seeking to be professional accountants or lawyers. It is also equally important for individuals in managing their personal affairs. There would be no major business decision in Australia, from the purchase of an item of plant to the overall organisation of a business structure, which is taken without regard to the taxation implications. Indeed, tax is often the motivating factor behind a decision or action. A study of taxation law involves not only an attainment of knowledge of the provisions of the various Tax Acts, but also a large volume of case law which has defined and/or clarified both the acts or general concepts not defined in the Acts, as well as the ability to apply this knowledge to factual situations. his course is a required technical and profession competency component of CPA and CAANZ accreditation and specifically addresses Technical Competency Area 9.

To participate in planning a client's tax affairs, it is necessary to understand the relevant sections of the appropriate taxation laws applicable to the transaction or entity structure. Therefore, this course primarily introduces you to the Income Tax Assessment Acts (ITAA36 and ITAA97) and the Goods and Services Tax Act 1999 (GSTA).

Topics covered include assessable income, residency, capital gains tax, allowable deductions, taxpayers' classes, tax payable and offsets/rebates of tax, tax administration provisions, the taxation of business entities, and goods and services tax. This course uses real-world case studies to solve taxation problems.

On completion of this course students should be able to:

1. identify the sources of Australian taxation law and the framework within which tax is administered (TCA9 LO1) (TCA11 LO2);
2. identify various types of taxation in Australia including income tax, consumption taxes, goods and services tax, capital gains tax and fringe benefits tax (TCA9 LO2);
3. apply the fundamental principles of income tax, GST and FBT laws in calculating taxable income and tax payable for individuals and business entities (TCA9 LO3) (TCA11 LO1);
4. analyse the taxation issues associated with straight forward international transactions (TCA9 LO4);
5. apply appropriate taxation legislation using critical thinking and problem-solving skills to reach well-reasoned conclusions that optimise outcomes and to communicate these clearly in a written context (ALS3, 4);
6. contribute expertise to a diverse team collaboratively providing possible solutions to an advanced taxation problem in a complex context (ALS5).