ACCT254-21S1 (C) Semester One 2021

Taxation

15 points

Details:
Start Date: Monday, 22 February 2021
End Date: Sunday, 27 June 2021
Withdrawal Dates
Last Day to withdraw from this course:
  • Without financial penalty (full fee refund): Sunday, 7 March 2021
  • Without academic penalty (including no fee refund): Friday, 14 May 2021

Description

The general principles of taxation. Topics include: principles of residence and source, the taxation of income from employment, personal property sales, deductions, depreciation, leases and trading stock and the dispute resolution process. 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 principles of residence and source, 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 and the dispute resolution process.
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. This course focuses on the tax 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 ‘Income from Business’ lecture topics.
At the conclusion of the course, students should have an appreciation of the basic applications of the taxation laws and an understanding of issues concerning tax investigations. 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.

Learning Outcomes

Having engaged in learning during the course, students should be able to:

(a) Demonstrate a general understanding of the concept of the capital/revenue distinction;
(b) Demonstrate an understanding of the principles of residence and source;
(c) Determine the appropriate tax treatment of various income receipts and deductions;
(d) Demonstrate an understanding of both the Fringe Benefit Tax and Goods and Services Tax regimes;
(e) Demonstrate an understanding of the tax treatment of partnerships and trusts;
(f) Demonstrate an understanding of depreciation, leases and trading stock from a tax perspective;
(g) Demonstrate an understanding of the dispute resolution process.

University Graduate Attributes

This course will provide students with an opportunity to develop the Graduate Attributes specified below:

Critically competent in a core academic discipline of their award

Students know and can critically evaluate and, where applicable, apply this knowledge to topics/issues within their majoring subject.

Employable, innovative and enterprising

Students will develop key skills and attributes sought by employers that can be used in a range of applications.

Pre-requisites

Restrictions

ACIS254, AFIS254

Co-requisites

Equivalent Courses

ACIS254

Timetable 2021

Students must attend one activity from each section.

Lecture A
Activity Day Time Location Weeks
01 Wednesday 14:00 - 16:00 E9 Lecture Theatre
22 Feb - 4 Apr
26 Apr - 6 Jun
Drop in Class A
Activity Day Time Location Weeks
01 Monday 10:00 - 11:00 Jack Erskine 241
22 Feb - 4 Apr
3 May - 6 Jun
Optional A
Activity Day Time Location Weeks
01 Monday 19:00 - 20:00 C1 Lecture Theatre
22 Mar - 28 Mar
Presentation A
Activity Day Time Location Weeks
01 Monday 13:00 - 15:00 Beatrice Tinsley 112
22 Feb - 28 Feb
Tutorial A
Activity Day Time Location Weeks
01 Tuesday 16:00 - 17:00 Jack Erskine 445
1 Mar - 4 Apr
26 Apr - 6 Jun
02 Tuesday 10:00 - 11:00 Beatrice Tinsley 111
1 Mar - 4 Apr
26 Apr - 6 Jun
03 Tuesday 17:00 - 18:00 Jack Erskine 446
1 Mar - 4 Apr
26 Apr - 6 Jun
04 Tuesday 18:00 - 19:00 Jack Erskine 446
1 Mar - 4 Apr
26 Apr - 6 Jun
05 Friday 10:00 - 11:00 Ernest Rutherford 140
1 Mar - 28 Mar
26 Apr - 6 Jun
06 Tuesday 19:00 - 20:00 Online Delivery
1 Mar - 4 Apr
26 Apr - 6 Jun
07 Tuesday 20:00 - 21:00 Online Delivery
1 Mar - 4 Apr
26 Apr - 6 Jun
Workshop A
Activity Day Time Location Weeks
01 Thursday 16:00 - 17:00 A3 Lecture Theatre
22 Feb - 4 Apr
26 Apr - 6 Jun

Examination and Formal Tests

Test A
Activity Day Time Location Weeks
01 Monday 18:30 - 20:30 E9 Lecture Theatre
29 Mar - 4 Apr
02 Monday 18:30 - 20:30 E5 Lecture Theatre
29 Mar - 4 Apr

Course Coordinator

Andrew Maples

Assessment

Assessment Due Date Percentage 
Final Exam 50%
Test One 40%
Tutorial Submissions 10%

Textbooks / Resources

Required texts are:
Thomson Reuters New Zealand Taxation 2021: Principles, Cases and Questions.
Thomson Reuters New Zealand Taxation 2021 Legislation Handbook.

Additional Resources are:
CCH New Zealand Master Tax Guide
Inland Revenue websites: www.ird.govt.nz; http://taxpolicy.ird.govt.nz/ (Policy Advice Division)
Legislation: www.legislation.govt.nz
Thomson Reuters New Zealand Taxation 2021 Casebook

Indicative Fees

Domestic fee $831.00

International fee $3,875.00

* 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 on the department and colleges page.

All ACCT254 Occurrences

  • ACCT254-21S1 (C) Semester One 2021