Use the Tab and Up, Down arrow keys to select menu items.
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. 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. 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 ‘Income from Business’ 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. Demonstrate a general understanding of the concept of the capital/revenue distinction;2. Demonstrate an understanding of the principles of residence and source;3. Determine the appropriate tax treatment of various income receipts and deductions;4. Demonstrate an understanding of both the Fringe Benefit Tax and Goods and Services Tax regimes;5. Demonstrate an understanding of the tax treatment of partnerships and trusts; 6. Demonstrate an understanding of depreciation, leases and trading stock from a tax perspective.
ACCT103
ACIS254, AFIS254
ACCT152 or LAWS101
ACIS254
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 (2017 edition), and any other readings given in lectures. The Thomson Reuters New Zealand Taxation 2017 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 2017: Principles, Cases and Questions. Thomson Reuters New Zealand Taxation 2017: Legislation Handbook. Additional Resources are: CCH New Zealand Master Tax Guide Inland Revenue website: www.ird.govt.nz www.legislation.govt.nz
Course Outline Learn
Domestic fee $775.00
International fee $3,188.00
* 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 .