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The general principles of taxation. Topics include: the taxation of income from business, employment, personal property sales, deductions, depreciation, leases and trading stock. The course will provide a working knowledge of income tax, GST, and FBT.
The objective of ACCT254 is to give students an introduction into the general principles of taxation. Topics include the taxation of income from business, income from employment, personal property sales, deductions, depreciation, leases and trading stock. The course will provide a working knowledge of income tax, GST, and FBT. Because of both the limited time available and the increasing complexity of taxes, especially income tax, it is not possible to cover all aspects of tax law in the course. Therefore, reference should be made to the course outline for the topics that will probably be covered. The focus for an introductory course in taxation will be the legislation as it is the legislation that largely gives rise to the rights and obligations in the area of taxation. The course builds on the foundations laid in the ACCT103 ‘Introduction to Taxation’ and ‘Residency’ lecture topics.At the conclusion of the course, students should have an appreciation of the basic applications of the taxation laws. Students should be able to determine the net income of a taxpayer and have an appreciation of the importance of taxation in business decisions.Completion of the course should also provide students with a framework to evaluate taxation issues, a foundation for further study in the advanced taxation courses, and provide a general level of awareness of taxation matters for future employment. The course also seeks to further develop student oral and written communication skills.
Having engaged in learning during the course, students will be able to demonstrate an understanding (e.g. explain, discuss and apply) of:1. The taxation issues related to tax residency for an individual;2. The structure of the Income Tax Act 2007;3. The concept of the capital/revenue distinction;4. Whether an activity constitutes a business for income tax purposes;5. The appropriate tax treatment of various income receipts and deductions; 6. The Fringe Benefit Tax and Goods and Services Tax regimes;7. The tax treatment of partnerships and trusts;8. Depreciation, leases and trading stock.Students will also be able to think analytically and solve problems.
ACCT103 or ACIS103
ACIS254, AFIS254
One of ACCT152, ACIS152, LAWS101.
ACIS254
An optional tax 'clinic' will be held to assist in your preparation for the final exam. Details will be advised later in the course.
Andrew Maples
TEXT BOOKS AND RECOMMENDED READINGThe importance of regular reading is stressed. Students are advised to become familiar with several of the most important Revenue Acts (particularly the Goods and Services Tax Act 1985, Income Tax Act 2007, Tax Administration Act 1994, and Taxation Review Authorities Act 1994), and refer to Thomson Reuters New Zealand Taxation (2014 edition), and any other readings given in lectures. The Thomson Reuters New Zealand Taxation 2014 Legislation Handbook or equivalent CCH/Thomson Reuters Legislation set of tax statutes may be brought into the term tests and final exam provided it is unmarked (highlighting and underlining excepted). It should be noted that tabs, indexing and grouping of pages are not permitted. Required texts are: Thomson Reuters New Zealand Taxation 2014: Principles, Cases and Questions. Thomson Reuters New Zealand Taxation 2014 Legislation Handbook. Additional Resources are: CCH New Zealand Master Tax Guide Inland Revenue website: www.ird.govt.nz www.legislation.govt.nz
Course Outline 2014 Outline Learn
Domestic fee $709.00
International fee $3,063.00
* All fees are inclusive of NZ GST or any equivalent overseas tax, and do not include any programme level discount or additional course-related expenses.
For further information see Department of Accounting and Information Systems .