Law

MA613 Taxation Law

02 June 2023 10:24 AM | UPDATED 10 months ago

MA613 Taxation Law :

MA613 Taxation Law
MA613 Taxation Law
Assessment Details and Submission Guidelines
SchoolBusiness
Course NameMaster of Professional Accounting
Unit CodeMA613
Unit TitleTaxation Law
Assessment AuthorDr Mac Wright
Assessment TypeAssignment [Group]
Assessment TitleTax Concessions for Small Businesses in Australia
Unit Learning Outcomes covered in this assessmenta. Appreciate and understand the factors influencing the creation and interpretation of income tax legislation and their relationship to accounting concepts and practice. b. Explain and discuss income tax law in Australia and more particularly the taxation of capital gains, fringe benefits tax, goods and services tax and small business tax concessions. c. Explain and demonstrate how to calculate the taxable income for different types of taxable entities. d. Apply technical knowledge and analytical skills to evaluate and solve tax problems. e. Communicate knowledge of the importance of income tax law within the practice of accounting to specialist and non-specialist audiences.
Weight20 per cent
Total Marks20 marks
Word limit2000 words
Release DateWeek 6
Due DateWeek 11 Friday 2rd June, 2023 at 1.00pm
Submission GuidelinesAll work must be submitted on Moodle by the due date along with a completed Assignment Cover Page. The assignment must be in MS Word format, 1.5 spacing, 11-pt Calibri (Body) font and 2 cm margins on all four sides of your page with appropriate section headings.  Reference sources must be cited in the text of the report, and listed appropriately at the end in a reference list using APA or IEEE referencing style for School of Business and School of Information Technology and Engineering respectively.
ExtensionIf an extension of time to submit work is required, a Special Consideration Application must be submitted directly to the School’s Administration Officer, in Melbourne on Level 6 or in Sydney on Level 7.  You must submit this application three working days prior to the due date of the assignment. Further information is available at: http://www.mit.edu.au/aboutmit/institutepublications/policiesproceduresandguidelines/specialconsiderationdeferment                                                                                 
Academic Misconduct   Academic Misconduct is a serious offence. Depending on the seriousness of the case, penalties can vary from a written warning or zero marks to exclusion from the course or rescinding the degree. Students should make themselves familiar with the full policy and procedure available at:http://www.mit.edu.au/about-mit/institute-publications/policies-procedures-and-guidelines/Plagiarism-Academic-Misconduct-Policy-Procedure. For further information, please refer to the Academic Integrity Section in your Unit Description.
MA613 Taxation Law


Assignment Description

Tax Concessions for Small Businesses in Australia

Australian taxation law provides various special treatments to small businesses in order to provide relief their tax burdens. For example, tax rates for small companies are concessional when compared to larger organisations.

You are required to explain all the tax concessions that you may possibly identify for small businesses in Australia. Please demonstrate your arguments by an example. 

Part of your explanation needs to cover the tax effect on the individual shareholder of small business company tax rate concessions.

Your group essay MUST identify the relevant legislation, cases and tax rulings.

Word count: 2000 words. You may go above or below the word limit by 10%.  Any words exceeding this limit will not be read.

THIS IS A TEAM ASSIGNMENT. YOU ARE REQUIRED TO WORK IN A TEAM OF FOUR.

The assignment should be written in your own words.

You must provide a list of references

Total marks 20 marks

Due Date: Week 11 Friday 2rd June, 2023 at 1.00pm

Submission process:  Assignments must be submitted on or before the deadline via Turnitin on Moodle.

No hard copy is required.

Readable connected prose NOT point form summaries

Accurate spelling, grammar, punctuation, paragraph construction and proofreading is required.

Effective use of HEADINGS if appropriate.

Referencing:

Consistent and accurate acknowledgment of sources using a recognised style – both in relation to in-text referencing and footnoting.

Late Submissions

Students who believe that they have a genuine case for extension of time must lodge a formal written application for such an extension, stating relevant grounds and attaching supporting documentation. 

Late submissions of the assignment will incur a penalty as per the MIT policy.

Marking criteria:

The marking criteria is shown in following table. Marks are allocated as follows:

CriteriaDetailed Description of the CriteriaMarks
Criteria 1Depth of understanding of the topic and identification of relevant issues.        /4
Criteria 2Awareness accuracy of the nature and content of relevant law./2
Criteria 3Clarity and coherence of the analysis and quality of discussion and argument./2
Criteria 4Writing and communication skills/4
Criteria 5Research skills/8
Total/20

Marker’s feedback/comments

Example Marking Rubric for Assignment [Group]: Total Marks 20

Marking Rubric Criteria/ GradesHigh Distinction  (HD) [Excellent] >80% Distinction (D) [Very Good] 70%-80%Credits (C) [Good] 60%-70%Pass (P) [Satisfactory] 50%-60%Fail (N) [Unsatisfactory] <50%
Criteria 1Concise and specific to the projectTopics are relevant and soundly analysed.Generally relevant and analysed.  Some relevance and briefly presented.This is not relevant to the assignment topic.
Criteria 2Demonstrated excellent ability to think critically and sourced reference material appropriately.Demonstrated excellent ability to think critically but did not source reference material appropriately.Demonstrated ability to think critically and sourced reference material appropriately.Demonstrated ability to think critically and did not source reference material appropriately.Did not demonstrate ability to think critically and did not source reference material appropriately.
Criteria 3Demonstrated excellent ability to think critically and sourced reference material appropriately.Demonstrated excellent ability to think critically but did not source reference material appropriately.Demonstrated ability to think critically and sourced reference material appropriately.Demonstrated ability to think critically and did not source reference material appropriately.Did not demonstrate ability to think critically and did not source reference material appropriately.
Criteria 4All elements are present and very well integrated.Components present with good cohesive.Components present and mostly well integrated.Most components present.Proposal lacks structure.
Criteria 5Logic is clear and easy to follow with strong arguments.Consistency logical and convincing.Mostly consistent logical and convincing.Adequate cohesion and conviction.Argument is confused and disjointed.

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