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MA613 Taxation Law T2 2021

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MA613 Taxation Law T2 2021

Assessment Details and Submission Guidelines MA613
SchoolSchool of Business
Course NameMaster of Professional Accounting
Unit CodeMA613
Unit TitleTaxation Law
TrimesterTrimester 2, 2021
Assessment AuthorDr Mac Wright
Assessment TypeIndividual
Assessment TitleIndividual Assessments
Unit Learning Outcomes Addressed: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. d. Apply technical knowledge and analytical skills to evaluate and solve tax problems.
Weight20%
Total Marks20 marks
Release DateWeek 4; 13th August 2021, 5.00 pm
Due DateWeek 7; 3rd  September 2021,  5.00 pm
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
ExtensionIf an extension of time to submit work is required, an Application for Special Consideration and supporting documentation must be submitted directly to the School’s Administration Officer via your MIT AMS login [https://online.mit.edu.au/ams/default.aspx?ReturnUrl=%2fams%2f].Youmust submit this application no later than three working days after the due date of the specific piece of assessment or the examination for which you are seeking Special Consideration. Further information is available at: http://www.mit.edu.au/about-mit/institute-publications/policies-procedures-and- guidelines/special consideration deferment.
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:https://mit.edu.au/about-mit/institute-publications/policies-procedures-and-guidelines/AcademicIntegrityPolicyAndProcedure. For further information, please refer to the Academic Integrity Section in your Unit Description.

                                              Assessment Cover Sheet

Student ID Number/s:Student Last name/s:Student First name/s:
   
Course: Master of Professional AccountingSchool: Business
Unit code: MA613Unit title: Taxation Law
Due date:  3rd September, 2021 2021Date submitted:  2021Campus: Online
Lecturer’s Name: Dr Mac WrightTutor: Dr Mac Wright
Student Declaration I/We declare and certify that: the work contained in this assessment is my/our own work/group work, except where acknowledgement of sources is made;this assessment has not been submitted previously for academic credit in this or any other course;I/we have read MIT’s Plagiarism and Academic Misconduct Policy and Procedure, and I/we understand the consequences of engaging in plagiarism, collusion and contract cheating; a copy of the original assignment is retained by me/us and that I/we may be required to submit the original assignment to the Lecturer and/or Unit Co-ordinator upon request;   I/we have not plagiarised the work of others or participated in unauthorised collaboration or contract cheating when preparing this assessment.
MIT IDSignatureDate
   


Assessment Description

You are required to complete the following questions, in your own words*, based on the key materials covered in Chapters 1 and 2 of the prescribed textbook.

*Types of plagiarism or academic misconduct:

  • Sham Paraphrasing Material has been copied exactly from the source and has been acknowledged with an in-text citation but has not been quoted; There is a reference list.
  • Illicit Paraphrasing Material has been paraphrased from the source without any in-text citation; There is a reference list.
  • Exact Copying Material has been copied exactly from the source without any in-text citation; There is a reference list.
  • No Referencing There is no in-text citations nor a reference list.
  • Collusion Material has been copied from another student’s work;
  • Recycling The same assignment submitted in more than one unit;
  • Contract Cheating The assignment has been written by a third party and the students is claiming it as their own work.

Answer the following question IN YOUR OWN WORDS; i.e., no copying and pasting, In the moodle quiz provided in the assessment section of the subject moodle site. Each question is worth one (1) mark.

Introduction to Assessment:

“Over the years, Residency has been a contentious issue as it affects both the liability of an individual to pay Australian tax, and the rate at which such tax will be applied. The issue continues to only be partly addressed and remains open to wide interpretation. This is unlikely to improve, and certainty remains beyond the grasp of the individual, who remains at risk of the whims of the Australian Taxation Office and its capricious commissioners.”

You have recently been employed by a small suburban accounting firm who have a number of migrant clients who while holding Australian residency travel widely for work. Your Practice Manager has made the above statement to you following several frustrating meetings with clients. You respond by undertaking to research the issue to see just how contentious the situation really is. On this basis, your Practice Manager has requested that you prepare a report within three weeks to enable him to study the position.

ASSIGNMENT ISSUE FOR RESEARCH:

Required:

Complete the following task IN YOUR OWN WORDS; i.e., no copying and pasting.

You are required to prepare a report in which you research, analyse and evaluate the current residency status situation from a taxation perspective, and any planned changes to legislation or regulation.

Your report must follow the standard formatting of a report, and demonstrate you understand what influences income tax legislation, how tax law is applied in the circumstances of the question and the technical considerations involved.

(Please make reference to at least four (4) journal articles and four (4) cases to support your research) 

(7 + 7 + 6 = 20 Marks)

Marking criteria:

Assessment criteria (requirements) are shown in the following table.

Marks are allocated as follows:

Assessment criteria (Requirements) to be met and assessedDetailed Description of the Assessment CriteriaBreakdown MarksUnit Learning Outcomes met
Criteria aAppreciate and understand the factors influencing the creation and interpretation of income tax legislation and their relationship to accounting concepts and practice.7a,b,d
Criteria bExplain 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.7
Criteria dApply technical knowledge and analytical skills to evaluate and solve tax problems.6
Total 20 

Using Technology for Assessment

RationaleActivitiesTechnological tools selected
This assessment task aims to achieve; a. Appreciate and understand the factors influencing the creation and interpretation of income tax legislation. b. Explain and discuss income tax law in Australia and more particularly, goods and services tax d. Apply technical knowledge and analytical skills to evaluate and solve tax problems. (i.e., Questions 1 to 3),  This aim will be achieved  by; Reviewing relevant materials, including homework questions.Checking for plagiarism.  The tools selected for this assessment Online activities on Moodle, including Forums and Chats.Turnitin.

Marking Rubric for Formative Assessment:

Marking Rubric Criteria/ GradesHigh Distinction (HD) [Excellent] 80-100%Distinction (D) [Very Good] 70%-79%Credit (C) [Good] 60%-69%Pass (P) [Satisfactory] 50%-59%Fail (N) [Unsatisfactory] <50%
Criteria a (out of 7 marks)Met requirements to an excellent level; Very few, if any, errors. (80 to 100%)Met requirements to a very good level; Some significant errors. (70 to 79%)Met requirements to a good level; some insignificant errors. (60 to 69%)Met requirements to a satisfactory level; many errors, but not significant. (50 to 59%)Did not meet requirements; Many significant errors. (0 to 49%)
Criteria b (out of 7 marks)Met requirements to an excellent level; Very few, if any, errors. (80 to 100%)Met requirements to a very good level; Some significant errors. (70 to 79%)Met requirements to a good level; some insignificant errors. (60 to 69%)Met requirements to a satisfactory level; many errors, but not significant. (50 to 59%)Did not meet requirements; Many significant errors. (0 to 49%)
Criteria c (out of 6 marks)Met requirements to an excellent level; Very few, if any, errors. (80 to 100%)Met requirements to a very good level; Some significant errors. (70 to 79%)Met requirements to a good level; some insignificant errors. (60 to 69%)Met requirements to a satisfactory level; many errors, but not significant. (50 to 59%)Did not meet requirements; Many significant errors. (0 to 49%)
Total /20     

Mark:

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