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This core tax subject will examine the principles and policy aspects of a value-added tax (VAT) using Australia’s Goods and Services Tax (GST) as the primary example. The subject will also examine the GST or VAT principles in other jurisdictions such as the European Union, United Kingdom, Singapore, Malaysia and the Middle East, as relevant. The subject includes analysis of rulings and cases that are relevant to the operation of, and compliance with, Australia’s GST in practice.
Principal topics include:
- Introduction to the GST: the objectives of a general tax on consumption and the design features and legislative scheme of Australia’s GST
- GST’s ‘basic rules’ and the legislative building blocks contained in the GST law: the taxable person, consumption expenditure, tax value, registration, jurisdictional scope, exemptions, the destination principle, input tax relief, liabilities, attribution, returns and payments
- Special issues: real property and financial intermediation
- International aspects: obligation for non-residents to register, supplies by non-residents and the reverse charge and exports and imports of goods and services.
Intended learning outcomes
A student who has successfully completed this subject will:
- Have an advanced and integrated understanding of the core elements of the international value added tax model
- Be an engaged participant in debate regarding emerging and contemporary issues in value added tax
- Have a sophisticated appreciation of the policy basis and legislative scheme of Australia’s goods and services tax (GST)
- Have an advanced understanding of the legislation, rulings and cases that are relevant to the operation of and compliance with Australia’s GST in practice
- Understand and apply an approach to analyse transactions of a complex nature and identify GST issues and outcomes arising from them
- Have the cognitive and technical skills to generate critical and creative ideas relating to indirect taxes
- Have the cognitive and technical skills to examine independently, research and analyse the existing legislative scheme, its application to commercial transactions and any proposals for reform
- Be able to demonstrate autonomy, expert judgment and responsibility as a practitioner and learner in the field of Australia’s GST.
Last updated: 2 December 2019