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Course

Principles of Goods and Services Tax Law - ATAX0423

Faculty: Australian School of Business

School: Australian School of Taxation and Business Law

Course Outline: ATAX0423 Course Outline

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, 9255, 9200, 9210, 9230 or 5740 or 9257 or 9231 or 5231

Excluded: ATAX0323, ATAX0523, ATAX0623

CSS Contribution Charge: 3 (more info)

Tuition Fee: See Tuition Fee Schedule

Further Information: See Class Timetable

View course information for previous years.

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 also need to stay up to date with relevant journal articles and any new rulings as the session progresses.


Recommended Prior Knowledge

ATAX0422 GST Design and Structure

Students without this prior knowledge may find that they need to take steps to ensure adequate understanding of the related area. Note: as some area of tax law are interrelated in some courses, we recommend that students either have prior knowledge of the related area or study another course in that area concurrently.

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 critically 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

Course Texts

Textbook lists for ATAX courses will be available from the UNSW Bookshop from 1 February for Semester 1 courses and from 1 July for Semester 2 courses.
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Study Levels

Undergraduate Study Postgraudate Study Postgraduate Research Study Non-Award Study

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