taxation law

Australian National Institute of Management and Commerce (IMC)

CRICOS Code: 02491D | TEQSA PRV 12059 | Add: Suite 1, Biomedical Building, 1 Central Ave, Eveleigh NSW 2015 Tel: + 61 2 9209 4888 | Fax: + 61 2 9209 4887 | E-mail: [email protected] | Web: www.imc.edu.au Top Education Group Ltd ACN 098 139 176 trading as Australian National Institute of Management and Commerce (IMC)

Unit Outline

Unit Code & Name TLAW603 Taxation Law & Practice

Year 2020

Term 2

Unit Coordinator Claudia Mitchell

Location Sydney

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Introduction Welcome to Australian National Institute of Management and Commerce (IMC) and TLAW603 Taxation Law & Practice. This document provides you with information relevant to the successful completion of this unit including learning outcomes, schedule of lecture topics, prescribed texts and recommended readings, assessment tasks and policies, examinations and learning support facilities.

Academic Administration Office The Academic Administration Office is located at Level 1, Bay 4, Locomotive St. The administration office is your point of contact for advice, enrolment and access to student support facilities. IMC’s staff is available to assist you personally during office hours.

Unit Description Taxation is an important aspect of everyday business for individuals and businesses alike.

The impact of taxation on business structures, transactions and decisions is both real and significant. An understanding of how taxation law works is not only vitally important for professional accountants but is also an essential management skill in an increasingly complex business environment.

In this unit we will examine some of the more complex aspects of Australian taxation law and the way in which they affect business transactions. Students will acquire an in-depth understanding of the challenges associated with the resolution of complex areas of tax controversy in a commercial context, especially with respect to small business transactions, international tax matters, transactions undertaken by companies, partnerships and trusts, superannuation, GST, the potential application of the General Anti-Avoidance Regime (GAAR) and important features of tax administration.

Assumed Knowledge

• TACC401 Principles of Accounting • TLAW402 Company Law

Learning Outcomes

The learning outcomes (i.e. goals and objectives) of this unit are related to the learning outcomes of the overall course (or program) of study. In turn, both unit and course learning outcomes are designed to enhance each student’s acquisition of desirable graduate attributes. The table below shows the alignment of unit learning outcomes with course learning outcomes and their contribution to achieving graduate attributes.

Unit Learning Outcomes Course Learning Outcomes achieved

Graduate Attributes achieved

After successfully completing this unit students will be able to:

1. Demonstrate an integrated and working knowledge of the primary elements of the Australian Income Tax System, with specific focus on the individual.

Acquire discipline-related knowledge.

Apply theory to commercial practice.

3) Disciplinary knowledge and skills

4) Thinking and reasoning 5) Problem-solving and decision-making

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Unit Learning Outcomes Course Learning Outcomes achieved

Graduate Attributes achieved

2. Demonstrate a critical understanding of the tax implications of selected entities and business structures, including evidencing an awareness of their advantages and disadvantages for tax planning purposes.

Acquire discipline-related knowledge Apply theory to commercial practice

3) Disciplinary knowledge and skills

4) Thinking and reasoning 5) Problem-solving and decision-making

3. Demonstrate a critical cognizance of the primary elements of the Australian tax system, including the Goods and Services Tax (GST) system.

Acquire discipline-related knowledge

3) Disciplinary knowledge and skills

4) Thinking and reasoning 5) Problem-solving and decision-making

4. Demonstrate tax-law research skills by effectively sourcing and correctly referencing the most relevant tax rules and principles by using relevant books and digital research facilities, including employing primary and, where appropriate, secondary legal aids and avoiding plagiarism.

Acquire knowledge of research principles and methods

Research and find solutions to accounting problems in complex professional settings

Apply technical research knowledge and skills

Apply knowledge and skills creatively

1) Ethics and professionalism 3) Disciplinary knowledge and skills 4) Thinking and reasoning 5) Problem-solving and decision-making 8) Digital technologies 10) Research and enquiry

5. Work effectively, collaboratively, and professionally in small groups, demonstrating leadership and the necessary cultural sensitivity.

Apply knowledge and skills with accountability Professional, ethical, leadership and strategic skills

6) Teamwork 11) Global perspective and cultural understanding 12) Leadership and engagement

6. Apply critical thinking to tax problems, as evidenced in one or more ways, such as: (a) By setting out sound

conclusions and recommendations, that are logically supported by legal principles that are the most relevant, when identifying and resolving tax issues.

(b) By demonstrating an ability, where appropriate, to identify the best methods for undertaking tax

Apply theory to commercial practice Apply knowledge and skills ethically and strategically Apply knowledge and skills creatively Solve non-routine and complex accounting and business problems

1) Ethics and professionalism 3) Disciplinary knowledge and skills 4) Thinking and reasoning 5) Problem-solving and decision-making

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Unit Learning Outcomes Course Learning Outcomes achieved

Graduate Attributes achieved

minimisation, whilst appreciating and being sensitive to any ethical considerations.

7. Demonstrate effective legal writing skills by clearly and concisely communicating to professional and non- professional audiences the various components of a tax solution, such as: clearly and concisely describing complex transactions, clearly identifying the primary issues of any tax problem, effectively setting out the various tax treatments applicable, and clearly highlighting the best tax outcomes available. The correct use of English grammar, including punctuation, appropriate tone and correct spelling is essential to evidence clear and concise writing.

Communicate effectively in professional settings

7) Communication

8. Demonstrate a cognizance of any relevant tax compliance issues, in critically analysing tax problems, including demonstrating, where appropriate, an underlying sensitivity to any ethical issues.

Acquire discipline-related knowledge Apply theory to commercial practice Apply knowledge and skills creatively Apply knowledge and skills ethically and strategically

1) Ethics and professionalism 3) Disciplinary knowledge and skills 4) Thinking and reasoning 5) Problem-solving and decision-making

Teaching Staff Lecturer: Claudia Mitchell, Lawyer, [email protected], (M)0434 959 904. Class Times Interactive Postgraduate Workshop: 6pm to 9pm via Moodle and Zoom Integrated On-line Learning. Consultation Sessions: By appointment via Moodle and Zoom Integrated On-line Learning. It is expected that you will be punctual in logging into the lecture. To facilitate learning and remove disturbances to class, if you are more than 10 minutes late, you may be refused entry while the class is in progress.

You are expected to demonstrate courtesy to the lecturer and other students by turning off your mobile phone and muting yourself on the Zoom Integrated On-line Learning Platform. Opportunities for discussion and interaction will be made available by your lecturer during class.

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Teaching Strategy The learning outcomes in this unit will be achieved through a combination of face-to-face classes, supported by online learning resources through Moodle, Library resources and the availability of staff consultation. Achievement of learning outcomes requires you to prepare for each class, complete all assessment tasks and undertake adequate private study. As a guide, you should expect to allocate approximately 10 hours each week to study this unit adequately:

• 3 hours of integrated postgraduate workshop; and • 7 hours of preparation and private study.

Prescribed and Recommended Readings: Prescribed Textbook (must be purchased for this course): Kerrie Sadiq, Celeste Black, Rami Hanegbi, Sunita Jogarajan, Richard Krever, Wes Obst, Antony Ting, Principles of Taxation Law 2020 (13th ed.), 2020, Thomson Reuters. (“PTL”)1 Colleen Mortimer, Dale Pinto and Annette Morgan, A Practical Introduction to Australian Taxation Law 2020, 2020, Thomson Reuters. (“PIATL”)** **Selected materials from this text will be provided to you by your lecturer. Recommended Reading and Resources: The Australian Legal System

Creyke, R. et. al. Laying Down the Law (10th ed., 2017, LexisNexis Butterworths).

Income Tax

Cooper, Dirkis, Stewart and Vann, Income Taxation: Commentary and Materials (9th ed.) Thomson Reuters. Barkoczy, Core Tax Legislation & Study Guide 2020 – (23nd ed.), 2019, Oxford University Press. Murray, Taylor, Walpole, Burton and Ciro, Understanding Taxation Law 2020 – (14th ed.), 2020, LexisNexis.

Electronic Tax Law Databases

Lexis Advance via the IMC Library (includes access to Carter on Contract and the Journal of Contract Law). An excellent resource also includes access to case law and commentary.

Exams, Legal Writing & Referencing

Corbett-Jarvis, N., et. al., Effective Legal Writing: A practical guide (2nd ed., 2016). Krever, R., Mastering Law Studies and Exam Techniques, (10th ed., 2019, LexisNexis Butterworths).2

1 An electronic copy of this book can be purchased from: https://legal.thomsonreuters.com.au/principles-of- taxation-law-2020-ebook/productdetail/127537. 2 This is an excellent resource. The e-book can be purchased at: https://store.lexisnexis.com.au/categories/products/mastering-law-studies-and-law-exam-techniques-10th- edition-ebook-sku9780409349146/details.

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Additional Reference Materials While references to the prescribed weekly readings for this Unit are set from standard textbooks on taxation, references will also be made during the lectures to reported cases, rulings and other pronouncements issued by the Australian Taxation Office. (a) Commentaries: Both CCH and Thomson Reuters provide an on-line service covering a commentary on the relevant legislation, rulings and reports and other pronouncements of the Australian Taxation Office. These on-line tax services are also available in multi-volume loose-leaf formats. The on-line service of CCH can be accessed from the IMC’s Library’s database. (b) Useful Internet sites: Internet resources are a very valuable source of information relating to current developments on taxation issues. Some useful sites include: (i) ATO website: The Australian Taxation Office Internet site www.ato.gov.au . This site offers access to:

• all ATO rulings and other pronouncements • current ATO publications • legislation • Australian and selected overseas tax case law • all ATO forms

(ii) Access to other internet sites which are relevant to tax issues can be located at: • Australian Treasury: http://www.treasury.gov.au. This site contains Treasury press releases

and consultation documents. • CPA Australia: http://www.cpaaustralia.com.au. This site contains relevant information

including submissions canvassing tax reform. • Institute of Chartered Accountants in Australia: http://www.icaa.org.au. This site contains

relevant information including submissions canvassing tax reform. • Deloitte: http://www.deloitte.com.au. Click on “tax central” to access information on

proposed tax reforms. • Ernst & Young: http://www.ey.com/global/gcr.nsf/austaralia/home. Good for keeping up to

date on tax reforms. • KPMG: http://www.kpmg.com.au. Very useful, especially for its “Daily Tax News”. • PwC: https://www.pwc.com.au/taxtalk.html. Useful for up to date information on Australian

tax developments. • Board of Taxation: http://www.taxboard.gov.au. Contains information on proposed tax

changes. (iii) Cases, rulings, and legislation can also be accessed from the following sites:

• Cases: Scaleplus site http://scaleplus.law.gov.au. • Cases: Australian Legal Information Institute site http://www.austlii.edu.au. • Cases and Taxation rulings: Australian Taxation Office; http://www.ato.gov.au.

(c) Professional Reference Texts • 2020 Master Tax Guide (CCH) • 2020 Australian Tax Handbook (Thomson Reuters) • Australian Superannuation Handbook 2019-2020 (Thomson Reuters) • Small Business Tax Concessions Guide (6th ed.) 2019, CCH.

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(d) Journals Articles in legal and accounting journals are invaluable aids in keeping up to date with developments in tax law and practice. These include:

• Australian Tax Review • Australian Tax Forum, a journal of taxation policy, law and reform • Taxation in Australia • The Tax Specialist • The Australian Accountant • The Journal of Australian Taxation • The Chartered Accountant in Australia • The Australian Law Journal, it contains a section called "Revenue Notes" which features

articles on important decisions. (e) Update on Tax Developments For a weekly update on tax developments, students are advised to consult either CCH Tax Week or the Thomson Reuters Weekly Tax Bulletin; the former can be accessed from the IMC’s Library database.

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Assessment Tasks: Summary

Assessment tasks are an integral part of the learning framework. Assessment tasks are designed to measure student progress in achieving competency in unit learning outcomes. Unless otherwise stated, the pass mark in each assessment task is 50%.

Assessment type

Due

Proportion of total marks

Unit Learning Outcomes assessed

Class Participation Weeks 2-12 5% LO1, LO2, LO3, LO4, LO5, LO6, LO7, LO8

Assessment Item 1

Week 6 25% LO1, LO2, LO3, LO4, LO6, LO7, LO8

Mid-term Examination

Week 8 25% LO1, LO2, LO3, LO6, LO7, LO8

Final Examination Week 12 45% LO1, LO2, LO3, LO6, LO7, LO8

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Assessment Tasks: Details

Assessment title Class Participation

Purpose, description and topics covered

Purpose: The purpose of this assessment is to ensure that students attend and prepare for each class by completing the prescribed reading for each topic, attend lectures via the Zoom on-line learning platform and verbally contribute during each class.

Description: Students are expected to actively engage in their own learning. This will be facilitated with the weekly tutorial questions which will be worked through in class as well as through the completion of the modules.

Topics to be covered: Knowledge and skills from weeks 1 to 12 with emphasis on application, interpretation and evaluation.

Assessment length Class participation will be assessed by checking attendance and ensuring students actively engage in class discussion. Students will be expected to contribute orally and through the Zoom on-line platform, specifically with respect to the prescribed readings and discussions questions for each topic.

Criteria to grade quality Marks for participation will be awarded based on the quality of active contribution to learning in class, as evidenced by:

1. A demonstration of mastery of topics, based on pre-class preparation

2. Willingness to lead discussion and debate 3. Engagement with subject material 4. A supportive attitude toward group learning 5. Attendance at every class in order to receive full marks.

Submission method Online.

Return method Class engagement marks will be released at the end of the course. However, progress on performance will be discussed in class throughout the term.

Feedback provided Ongoing throughout the semester.

Answers to weekly homework questions will be discussed during tutorials.

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Assessment title Case Analysis

Purpose, description and topics covered

Purpose: The purpose of this assessment is to evaluate a student’s:

• detailed knowledge of an area of the Australian tax system;

• ability to prepare and present reasoned legal arguments, with respect to a factual scenario/problem or case; and

• problem-solving ability together with their oral/written communication skills.

Description: Students are expected to prepare a written case analysis on an assigned case with an accompanying written report. Students are required to identify relevant legal principles pertinent to the relevant facts arising in the assigned topic. The legal principles will correspond with relevant aspects of the Australian tax system.

Topics to be covered: Knowledge and skills from weeks 1 to 6, with emphasis on legal analysis, application, interpretation and evaluation of the law and any associated commercial concepts and factors.

Assessment length The Word Length for this task is 3,000 words (excluding footnotes and bibliography).

The written report must be 1.5 spaced, use Arial font 11pt and the margins must be 2.5cm. All pages must be numbered.

The written report must be accompanied by a completed ICM Cover Sheet.

Any secondary sources (including newspaper articles, journal articles, legal commentary etc.) must be from English sources only.

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Assessment title Case Analysis

Criteria to grade quality Students are required to complete this assessment task to encourage the development of a range of skills as indicated by the following assessment criteria: • Clear and concise statement of the relevant facts and legal

issue(s) in the case • Demonstrated links to appropriate readings • Clear and concise expression of own ideas about the case

using appropriate legal language that is free of error • Careful organisation so that ideas develop logically through

the presentation • Appropriate use of primary and secondary legal sources. • Thoughtful analysis of the judgement(s) • Thoroughness of research and preparation as evident in the

written report. • Management of own workload to meet presentation deadline

(self-assessment: to self-check your effective management of time to cope with university workloads and deadlines).

Submission method Week 6. Soft copy to be submitted via Turnitin.

Return method Marks to be Uploaded on Moodle.

Feedback provided On-request.

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Assessment title Mid-term Examination (25%)

Purpose, description and topics covered

Purpose: The mid-semester examination is intended to enable students to demonstrate the extent to which they can apply their understanding of the knowledge they have acquired in Weeks 1 to 7. IMC reserves the right to vary the format of the final exam in order to standardise the examination arrangements across the IMC.

Description:

• The mid-term exam will be an electronic ‘take-home’ open- book exam consisting of multiple-choice questions (MCQ) (‘Part A’), short answer questions (‘Part B’) and a series of discussion/problem type questions (‘Part C’).

• The questions in the examination will be based on the lecture content and related review questions discussed in tutorials.

• The questions are designed to assess students’ ability to understand the theoretical concepts and the ability to integrate that learning into practical problem-based questions.

Topics to be covered: Knowledge and skills from weeks 1 to 6, with emphasis on legal analysis, application, interpretation and evaluation of the law and any associated commercial concepts and factors.

Assessment length • Part A will consist of 20 multiple-choice questions (MCQ). • Part B will consist of 10 compulsory short answer questions. • Part C will consist of 2 discussion questions.

Criteria to grade quality • Clear identification of the legal issue(s) in the question • Clear statement of the relevant law • Thoughtful analysis and application of the relevant law to the

facts given in the question • Consistent support of written statements with appropriate legal

authorities • Careful organisation so that ideas develop logically through the

response to the question • Correctness of grammar, spelling etc • Adherence to principles of academic honesty with regard to the

conduct of examinations • Efficient sourcing of information from own structured notes

collated from seminars and readings (self-assessment)

• Efficient use of time to answer questions under exam conditions (self-assessment)

• Management of own workload to meet examination requirements (self-assessment)

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Assessment title Mid-term Examination (25%)

Submission method The examination will be available online via Moodle at 2pm after the Week 8 Lecture and Tutorial.

Students will have 3 hours to complete the exam and must submit their written responses in the Word template provided via Turnitin by no later than the time specified that day.

Return method Marks to be Uploaded on Moodle.

Feedback provided On-request.

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Assessment title Final Examination (45%)

Purpose, description and topics covered

Purpose: The final examination is designed to assess students understanding of the relevant topics and their ability to

Description:

• The final exam will be an electronic ‘take-home’ open-book exam consisting of multiple-choice questions (MCQ) (‘Part A’), short answer questions (‘Part B’) and a series of discussion/problem type questions (‘Part C’).

• The questions in the examination will be based on the lecture content and related review questions discussed in tutorials.

• The questions are designed to assess students’ ability to understand the theoretical concepts and the ability to integrate that learning into practical problem-based questions.

Topics to be covered: Knowledge and skills from weeks 7 to 12, with emphasis on legal analysis, application, interpretation and evaluation of the law and any associated commercial concepts and factors.

Assessment length • Part A will consist of 20 multiple-choice questions (MCQ). • Part B will consist of 10 compulsory short answer questions. • Part C will consist of 2 discussion questions.

Criteria to grade quality • Clear identification of the legal issue(s) in the question • Clear statement of the relevant law • Thoughtful analysis and application of the relevant law to the

facts given in the question • Consistent support of written statements with appropriate legal

authorities • Careful organisation so that ideas develop logically through the

response to the question • Correctness of grammar, spelling etc • Adherence to principles of academic honesty with regard to the

conduct of examinations • Efficient sourcing of information from own structured notes

collated from seminars and readings (self-assessment)

• Efficient use of time to answer questions under exam conditions (self-assessment)

• Management of own workload to meet examination requirements (self-assessment)

Submission method The examination will be available online via Moodle during the formal examination period.

Students will have 3 hours to complete the exam and must submit their written responses in the Word template provided via Turnitin by no later than the time specified that day.

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Assessment title Final Examination (45%)

Return method Marks to be Uploaded on Moodle.

Feedback provided On-request.

Assessment Tasks: General Information

Late submission of assignments: It is IMC policy that assignments cannot be submitted late without prior approval of the unit coordinator and only in extenuating circumstances supported by evidence. Assignments submitted late without prior approval will not be graded.

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Schedule of Topics

Week# Topics

Readings

Special Instructions

Week 1 Overview of the Australian taxation system including the sources of tax law and the taxation formula.

ATL Chapters 1-3 PTL Chapter 1 & 3

Week 2 Residence and source ATL Chapter 24 PTL Chapter 4

Week 3 Concepts of income 1 – - Assessable Income - Income from Personal

Services & Employment

ATL Chapter 4 PTL Chapter 6

Week 4 Concepts of income 2 – - Income from Property - Income from Business

ATL Chapters 5 and 6 PTL Chapter 8 and 9

Week 5 General & Specific Income Tax Deductions

ATL Chapter 10 and 11 PTL Chapter 12 and 13

Week 6 Capital Gains Tax (CGT) (including concessions and selected topics)

ATL Chapter 7 and 8 PTL Chapter11 Case Analysis

Due

Week 7 Goods & Services Tax ATL Chapter 27 PTL Chapter 25

Week 8 Companies & Shareholders ATL Chapter 18, 19 and 20 PTL Chapter 21 Mid-term Exam

Week 9 Partnerships & Trusts ATL Chapter 16 and 17 PTL Chapter19 and 20

Week 10 Taxation of Superannuation ATL Chapter 23 PTL Chapter 18 Australian Superannuation Handbook 2019-2020

Week 11 Tax Avoidance and Tax Administration

ATL Chapter 25, 29-33 PTL Chapter 23 and 24

Week 12 Final Examination

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Weekly Tutorial Discussion Questions Weekly Tutorial and Discussion Questions will be provided to students from Week 2. Students will be expected to prepare and deliver their answers during the interactive tutorial session.

Requirements to Pass the Unit

To achieve a passing grade in this unit a student must:

(a) Attempt all within-term assessment tasks to the satisfaction of the lecturer-in-charge; (b) Attend the final examination and submit a completed examination script; and (c) Achieve an overall mark of at least 50% in the unit.

Grades

A final grade and mark will be awarded in the unit as follows:

Grade %Mark High Distinction (HD) 85 - 100 Distinction (D) 75 - 84 Credit (CR) 65 - 74 Pass (P) 50 - 64 Fail (F)* 00 - 49 *The alternate grades of Fail Absent, Fail Incomplete and Fail Withdrawn may be awarded in appropriate circumstances.

The definition and interpretation of the above grades can be found in Assessment Policy and Procedure (Coursework) on IMC’s website at http://www.top.edu.au/current-students/top-policies- and-procedures

Academic Integrity Module (AIM)

All IMC students are required to complete the Academic Integrity Module (AIM) before submitting their first assignment in their first unit of study (which may be this unit or another unit). AIM is an online module available through Moodle that introduces the principles of ethical academic practice and IMC’s values and expectations of correct academic conduct. There are no credit points awarded for completing AIM, but your successful completion of the module will be recorded on your Academic Record for future reference. If you have not completed AIM by week 6, your results for the assignment will be withheld. Students are asked to attach the email confirmation of successful completion to their first assignment.

Recent Changes to this Unit

The following recent changes have been made to improve and/or update this unit:

• Given the COVID-19 epidemic (including Government mandated measures such as closure of non-essential services, interim cessation of international travel, interstate travel restrictions and social distancing measures) the manner in which the Unit is delivered and the assessments have changed.

• New textbooks are being trialled this Term which provides a more comprehensive treatment of the topics.

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Online Learning Support A great deal of online learning support is provided. A list of subject-specific and general information guides containing the best databases and resources available are accessible via the Library website: library.top.edu.au. The online Library Course available on Moodle is useful for learning about available services and how to successfully conduct research. Many useful support materials can also be located within the Academic Skills Development Module on Moodle. For more information or further support, please contact our English Language and Academic Skills Coordinator at [email protected] Academic English Support Program

An extensive Academic English program is provided. This program is aimed at developing skills and understanding of the rules and conventions that form the basis of academic work. The program includes:

• The Academic Skills Development Module (available on Moodle) • Academic English and Study Skills workshops held throughout the term • Individual consultations available by appointment • Academic English Support Guide (available via the online Library)

If you have any queries or would like to book a consultation, please contact our English Language and Academic Skills Coordinator at [email protected]

Additional Tutorial Support Support for this unit may be provided by IMC’s Duty Tutor who provides general assistance and personal advice on academic matters in a selection of undergraduate and postgraduate units. The Duty Tutor is available for consultation by contacting [email protected]. [Staff: delete Duty Tutor if this does not apply to your unit or this is a postgraduate unit]

Early Intervention for Students at Risk Your performance within each teaching period will be monitored to assist you towards successful completion of the units in which you are enrolled. Students whose performance is such that they are deemed to be at risk of not successfully completing the unit will be identified through IMC’s early intervention strategy. Indicators of students at risk of not successfully completing the unit include:

• Not attending lectures and/or tutorials • Not performing adequately in assessment tasks • Lack of engagement in the learning process • Poor language skills

Where you are identified as being at risk of failure, you will be advised by IMC of an appropriate remedial strategy and provided access to support services appropriate to your needs.

Policy on Special Consideration for Examinations Students may apply for a Special Consideration when they are unable to sit an examination or if their performance in the examination is severely affected by extraordinary circumstances beyond their control. Students are not allowed to decide whether they will sit an examination or not, they may only apply for special consideration when they have evidence that they could not sit for the exam (see below). Please note:

• Misreading the examination timetable is not sufficient reason for the award of Special Consideration.

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• Sitting consecutive exams (e.g. two exams on one day) is not a sufficient reason for the awarding of Special Consideration.

Acceptable evidence of a student’s inability to sit an exam, or a severe adverse effect on their performance in an examination, include a stamped medical certificate with the date of consultation, the state or extent of the medical condition, and the period covered by the doctor’s certificate. IMC administration staff will contact the medical professional’s office to verify the authenticity of the certificate. Only medical certificates that involved a personal (not online) consultation with a medical professional will be accepted. An application form for Special Consideration is available from Moodle. Applications for Special Consideration must be received by the IMC Academic Administration Office no later than five (5) working days after the last day of the examination period. If Special Consideration is deemed to apply in a final examination, in normal circumstances a student will be permitted to sit a Supplementary Examination. For mid-term exams, the unit coordinator has the discretion to determine how Special Consideration, if granted, will be applied.

A student can take only one supplementary examination in this unit each term.

Re-sit Assessment Task

If a student has achieved an overall mark between 40% and 49%, or a Fail Incomplete grade with an aggregate mark of at least 40%, a re-sit assessment task may be prescribed by the lecturer-in- charge to determine whether acceptable competency in expected learning outcomes has been achieved. The assessment will typically be in the form of a re-sit final examination but might be another form of re-sit assessment if the student has performed satisfactorily in the first attempt at the final examination.

Student Satisfaction Survey At the end of each term, students will be asked to complete a Student Satisfaction Survey. Student responses will assist IMC and its teaching staff in making improvements to teaching and learning content and processes. The survey will include questions about unit content, the assessment system, teaching quality and other items. Students will also have an opportunity to make open- ended comments. Student evaluations are important to IMC and are taken seriously. All student evaluations are anonymous to ensure privacy. Academic Misconduct (a) Plagiarism Plagiarism is the use of another person’s ideas or work without appropriate acknowledgement or credit. Plagiarism may be intentional or unintentional. Intentional plagiarism is deliberately using text, ideas or concepts attributable to another person obtained from any source (including internet sources) without referencing the author and the publication. Intentional plagiarism is a serious matter, amounting to academic fraud. Student work established and proven as containing intentional plagiarism will result in a zero grade and be reported to the Dean of School. The student’s enrolment in the unit will be reviewed. Unintentional plagiarism may occur if you do not understand appropriate ways of acknowledging sourced reference materials. If you are unsure, you should consult the lecturer, IMC’s academic skills coordinator and available publications to learn how to reference appropriately. All written assignments must be submitted online through the Turnitin anti-plagiarism software (unless otherwise advised by the lecturer). The link for Turnitin can be found on IMC’s Moodle site.

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(b) Cheating Cheating is an attempt to gain an unfair advantage over other students. Cheating includes copying, plagiarism and third-party assistance in preparing assignments. All work submitted must be a student’s own work. In an exam, cheating includes communicating with anyone other than supervisors during the exam period and the use of dictionaries, electronic devices, books or notes in the exam room where these not authorised. Cheating in any form will not be tolerated at IMC. Any student caught cheating on an examination will be given a FAIL grade in that unit, and the incident will be reported to the Dean of School for further action.

(c) Third party assistance

Academic misconduct includes the submission of work that has been prepared or assisted by a third party (e.g. through the purchase of assignment submissions). Where a lecturer has evidence that a submitted assignment is not the student’s own work, the lecturer may interview the student to ascertain whether third-party assistance has been obtained and, if so, report the incident to Dean of School for further action to be determined.

Students are required to read and understand IMC’s Academic Integrity Policy and ensure that all the work complies with the policy before submitting assessments. The policy is available at http://www.top.edu.au/current-students/top-policies-and-procedures

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IMC - GRADUATE ATTRIBUTES

Graduate attributes are those human qualities the Institution endeavours to instil in its students as they progress through their program of study. These attributes are the framework for course and curriculum development through the influence they have on the construction of learning outcomes at the course and unit levels. The institution values four core attributes being integrity, capability, curiosity and responsibility. The meaning of these four attributes within the context of higher education is shown in the following table.

Graduate Attribute

Graduate Attribute Dimensions

A. Integrity 1. Act honestly, ethically and morally in personal and work contexts.

2. Manage personal and professional development to maintain discipline knowledge and skills

B. Capability 3. Apply discipline knowledge, principles, concepts and skills

4. Think critically, analytically, creatively, strategically and reflectively

5. Solve problems and make sound decisions based on theoretical foundations and discipline-specific knowledge

6. Apply interpersonal skills to work constructively as a team member

7. Communicate effectively in personal and work contexts

8. Engage with transformative digital technologies3

C. Curiosity 9. Commit to continuous learning and intellectual curiosity

10. Derive knowledge through systematic and scientific methods of enquiry

D. Responsibility 11. Apply knowledge and skills in a manner that demonstrates national, international and intercultural awareness and understanding

12. Take leadership roles in the workplace and community, and engage constructively on local, national and global issues

3 “Transformative digital technologies” in the context of the Capability graduate attribute means new digital technologies that are changing, or have the potential to change, modes of business, the way people interact, global economies and societies. Transformative technologies include artificial intelligence, machine learning, robotic process automation, virtual and augmented reality, quantum and cloud computing, data generation and analytics, blockchain and the internet of things. Transformative digital technologies are taking societies into the fourth industrial revolution (Industry 4.0) and graduates are expected to leave the Institute with a capability to understand, engage with and contribute to ethical and responsible social transformations being driven by technological change.

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IMC – COURSE LEARNING OUTCOMES

MASTER OF PROFESSIONAL ACCOUNTING and

MASTER OF PROFESSIONAL ACCOUNTING SERVICES

Learning Outcomes for the Course

Short form descriptor of course learning

outcome KNOWLEDGE Graduates of the MPA/MPAS will have:

1. An understanding of contemporary theory underpinning accounting as a professional discipline.

Acquire knowledge of contemporary accounting theory

2. Knowledge of contemporary accounting practices as used in the accounting profession both nationally and internationally.

Acquire knowledge of contemporary accounting practice

3. Knowledge of related disciplines as they apply to accounting, especially the disciplines of law, finance, economics and statistics.

Acquire discipline- related knowledge

4. Knowledge of research principles and methods relevant to analysing, resolving and reporting on complex accounting and related problems.

Acquire knowledge of research principles and methods

SKILLS Graduates of the MPA/MPAS will have:

5. Cognitive skills to identify appropriate bodies of knowledge applicable to solving non-routine and complex problems in accounting and related fields.

Solve non-routine and complex accounting and business problems

6. Cognitive, technical and creative skills in accounting to synthesise complex information and apply relevant theory to develop appropriate strategic, legal and ethical responses to commercial issues.

Apply theory to commercial practice

7. Advanced technical research skills to investigate complex accounting problems and arrive at practical solutions in a professional and commercial context consistent with legal requirements and ethical standards.

Research and find solutions to accounting problems in complex professional settings

8. Communication skills to inform, discuss and manage stakeholder interests in professional and commercial settings.

Communicate effectively in professional settings

9. Advanced professional capabilities, ethical frameworks, leadership skills and strategic thinking skills suitable for professional and commercial practice.

Professional, ethical, leadership and strategic skills

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APPLICATION OF KNOWLEDGE AND SKILLS Graduates of the MPA/MPAS will demonstrate the application of knowledge and skills:

10. In accounting and related fields with strong ethical, leadership and strategic purpose.

Apply knowledge and skills ethically and strategically

11. With creativity and initiative to new situations in accounting practice.

Apply knowledge and skills creatively

12. To plan and complete tasks requiring technical research ability.

Apply technical research knowledge and skills

13. In both team and individual work settings with a high level of personal autonomy and accountability.

Apply knowledge and skills with accountability

14. In a life-long learning context to maintain comprehension and currency of the body of accounting knowledge.

Maintain knowledge and skills through life-long learning.