MA613 Taxation Law :
| Assessment Details and Submission Guidelines | |
| School | Business |
| Course Name | Master of Professional Accounting |
| Unit Code | MA613 |
| Unit Title | Taxation Law |
| Assessment Author | Dr Mac Wright |
| Assessment Type | Assignment [Group] |
| Assessment Title | Tax Concessions for Small Businesses in Australia |
| Unit Learning Outcomes covered in this assessment | a. 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. |
| Weight | 20 per cent |
| Total Marks | 20 marks |
| Word limit | 2000 words |
| Release Date | Week 6 |
| Due Date | Week 11 Friday 2rd June, 2023 at 1.00pm |
| Submission Guidelines | All 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. |
| Extension | If 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/about–mit/institute–publications/policies–procedures–and–guidelines/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. |
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:
| Criteria | Detailed Description of the Criteria | Marks |
| Criteria 1 | Depth of understanding of the topic and identification of relevant issues. | /4 |
| Criteria 2 | Awareness accuracy of the nature and content of relevant law. | /2 |
| Criteria 3 | Clarity and coherence of the analysis and quality of discussion and argument. | /2 |
| Criteria 4 | Writing and communication skills | /4 |
| Criteria 5 | Research skills | /8 |
| Total | /20 | |
Marker’s feedback/comments
Example Marking Rubric for Assignment [Group]: Total Marks 20
| Marking Rubric Criteria/ Grades | High 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 1 | Concise and specific to the project | Topics are relevant and soundly analysed. | Generally relevant and analysed. | Some relevance and briefly presented. | This is not relevant to the assignment topic. |
| Criteria 2 | Demonstrated 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 3 | Demonstrated 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 4 | All 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 5 | Logic 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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