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This core tax subject will examine Australia’s Goods and Services Tax (GST). The subject identifies the core legislative features in Australia’s GST contained in the A New Tax System (Goods and Services Tax) Act 1999.
The subject includes:
- reference to the value-added tax systems in other jurisdictions such as the European Union, United Kingdom, New Zealand and Singapore; and
- 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 tax on household consumption expenditure 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, supplies to and from offshore, exemptions, the destination principle (exports and imports) and input tax relief.
- A legislative overview of the Australian GST treatment of the “difficult to tax” issues: real property and financial services.
Intended learning outcomes
A student who has successfully completed this subject will:
- Have an 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 Australia’s GST
- 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: 18 December 2020