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 GST and FBT - LEGT3753
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Campus: Kensington Campus
 
 
Career: Undergraduate
 
 
Units of Credit: 6
 
 
EFTSL: 0.125 (more info)
 
 
Contact Hours per Week: 3
 
 
Enrolment Requirements:
 
 
Prerequisite: LEGT2751
 
 
Excluded: LEGT7754
 
 
Fee Band: 3 (more info)
 
 
Further Information: See Class Timetable
 
  

Description

The first part of this course examines Goods and Services Tax (GST). Emphasis is placed on the practical operation of GST. Topics discussed include: registration; taxable supplies; input tax credits; adjustments; accounting for and documenting GST; treatment of GST free supplies; treatment of input taxed supplies; and anti-avoidance provisions. The second part of this course deals with Fringe Benefits Tax (FBT). Topics include: the calculation of FBT liability; the rationale behind grossing up the taxable value of fringe benefits; definition of fringe benefit; valuation rules for fringe benefits; exempt fringe benefits; reconciliation with income tax; treatment of income tax exempt employers; and the use of fringe benefits in salary packaging.

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