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Principles of Goods and Services Tax Law - ATAX0423
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Faculty: Faculty of Law
 
 
School:  Australian School of Taxation
 
 
Course Outline: See below
 
 
Campus: ATAX Campus
 
 
Career: Postgraduate
 
 
Units of Credit: 6
 
 
EFTSL: 0.12500 (more info)
 
 
Indicative Contact Hours per Week: 0
 
 
Enrolment Requirements:
 
 
Restricted to students enrolled in Programs 9250 or 9260 or 9255
 
 
Excluded: ATAX0323, ATAX0523, ATAX0623
 
 
Fee Band: 1 (more info)
 
 
Further Information: See Class Timetable
 
 

Description

The object of this course is to provide high level conceptual and analytical knowledge of GST appropriate to the practical requirements of business, legal and accounting advisers working with GST on a regular basis. This course works through most aspects of the GST law and looks briefly at the underlying policy implications in some areas of the law. It briefly analyses related legal and taxation issues. The course concentrates on the Australian legislation although there is some mention of relevant overseas experience. The focus of the course will be to achieve a sound understanding of the principles of Australia's GST law. There will be an emphasis on day to day practical operational features - including the rulings - which you must obtain separately. You will find links to rulings on the Atax Online website and also the course WebCT site. You will also need to stay up to date with relevant journal articles and any new rulings as the session progresses.


Recommended Prior Knowledge

None

Course Objectives

On completion of this course, students should be able to:
  • Identify the basic elements of the GST and how it operates
  • Explain how the basic building blocks for the GST fit together
  • Define key GST concepts such as supply, acquisition, carrying on an enterprise and input tax credits
  • Determine the GST payable on supplies and whether input tax credits can be claimed
  • Recall the major 'exemptions' from GST and understand the nature of, and conceptual differences, between 'GST-free' and 'input taxed'
  • Identify the complexities of input taxation and reduced credit acquisitions - including how the finance sector is affected
  • Explain the nature of apportionment and its inevitable key role in GST record-keeping and reporting
  • Outline and criticise the general anti-avoidance provisions in the GST legislation
  • Locate, interpret and criticilly analyse GST Rulings, Determinations and other official Tax Office positions relevant to GST

Main Topics

  • Introduction to the GST law
  • Input tax credits
  • Payment of GST
  • Exemptions
  • Special rules relating to corporate and commercial activity

Assessment

1 research paper
1 exam

Course Texts

Prescribed
There is no prescribed textbook for this course.

Acts
You must purchase or have access to the following publications:
  • A New Tax System (Goods and Services Tax) Act 1999
  • A New Tax System (Goods and Services Tax) Regulations 1999
Citation and Style Guides
The following is a selection of acceptable citation and style guides, which you may use as the basis for your written work. You must purchase or have access to one of the following publications:
  • Rozenberg P, Australian guide to uniform legal citation (Sydney: Lawbook Co, 2nd ed, 2003)
  • Stuhmcke A, Legal referencing (Sydney: Butterworths, 3rd ed, 2005)
  • Australian guide to legal citation (Melbourne University Law Review Association, 2nd ed, 2002) - Available from http://mulr.law.unimelb.edu.au/aglc.asp
Recommended
  • Chiert G, GST: Insurance and Financial Services - An Industry Guide (Sydney: Australian Tax Practice, 2002)
  • Egan B, GST Insights: Property Sales & Rentals (Sydney: Taxability, 5th edn, 2005)
  • Harvey K, Property Development GST Handbook (Sydney: Taxability, 2002)
  • McMahon & McIntyre, GST and the Financial Markets (Sydney: CCH, 2001)
  • Payne G, McManus J, Rowland A & Scholtz W, Essential GST Commentary 2003 (Sydney: TimeBase, 2002)

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© The University of New South Wales (CRICOS Provider No.: 00098G), 2004-2011. The information contained in this Handbook is indicative only. While every effort is made to keep this information up-to-date, the University reserves the right to discontinue or vary arrangements, programs and courses at any time without notice and at its discretion. While the University will try to avoid or minimise any inconvenience, changes may also be made to programs, courses and staff after enrolment. The University may also set limits on the number of students in a course.