TABL3005 Taxation of Trusts - 2020

TABL3005
Undergraduate
Term 1
6 Units of Credit
On Campus and Online
Taxation & Business Law
The course outline is not available for current semester. To view outlines from other years and/or semesters, visit the archives .

1. Course Details

Summary of Course

​The trust is a major form of vehicle used for holding investment assets, for transferring family wealth to future generations and for income splitting. In addition, fixed public trusts, which are now commonly known as public unit trusts, funds or 'collective investment vehicles', have become a major form of public investment vehicle. Most superannuation funds are, in fact, trusts. The trust is not a distinct legal entity and is not taxed as a separate entity. The primary rule is that the beneficiary under a trust is subject to tax. Only where the beneficiary is not subject to tax will the trustee be assessed to pay tax. This course is mainly concerned with establishing when the primary rule applies, and when it is displaced by the exceptional rules. An understanding of the specific tax treatment of trusts is important to any student setting out to acquire, or refine, an understanding of the Australian tax system.

The study guide for Taxation of Trusts comprises five modules:

Introduction and overview of trust law

Taxation of income of trusts

Application of Parts 3–1 and 3–3 to trusts

The trust loss measures and family trust elections

General anti-avoidance and other integrity measures

Teaching Times and Locations

Please note that teaching times and locations are subject to change. Students are strongly advised to refer to the Class Timetable website for the most up-to-date teaching times and locations.

View course timetable

Course Policies & Support

Course Aims and Relationship to Other Courses

​This course is an optional course offered in the Bachelor of Commerce.

The rules governing the taxation of trusts are largely peculiar to trusts, but a full understanding of their significance does require a complementary knowledge of the taxation of companies and partnerships. This complementary knowledge will largely be assumed.

As in many other areas of taxation, the analysis of the tax treatment of trusts necessarily involves a consideration of capital gains tax issues. You may, accordingly, benefit from undertaking the course Taxation of Capital Gains prior to, or concurrently with, this course.

2. Staff Contact Details

Position Title Name Email Location Phone Consultation Times
LecturerMrNicholas GangemiQuad 2060+61282282038By appointment

​Contact via email preferred

3. Learning and Teaching Activities

Approach to Learning and Teaching in the Course

How to Use the Study Materials  

If you are new to flexible learning you should carefully read this Course Outline. It contains most of the relevant information about how this course will be run and the expectations of you as a student. You should also refer to the Study Schedule as a guide to completing your coursework. So as to get the most out of your study we recommend that you follow this study schedule through the course and fit various time demands into a well-organised diary. Systematic study through the term is the key to success in a flexible learning program.  

The learning pathways (available on Moodle) help to set out a clear path of study over the term. It also identifies learning outcomes and key concepts at the start of each module.  

Features of the Online Kotobee Course Materials

The online materials for this course are available through Moodle and are set up as a Kotobee e-Book. Using the Kotobee Platform, students will have the ability to access course materials from a computer or using a compatible device. The platform allows students to:

• Search the web for keywords and definitions

• Use text-to-speech functionality

• Activity boxes with suggested answers for personal study and learning feedback

• Copy materials to the clipboard

• Search in Google

• Make notes next to selected text

• Highlight text in the materials

• Bookmark pages and sections of text

• Learning dashboard to track and monitor your progress through the materials and completion of online activities

Instructions on how to use Kotobee will be available in Moodle.

Tax Distance Course Student Guide  

The Tax Distance Course Student Guide is a vital source of information for students studying flexible learning courses. It provides administrative and other information specific to studying these courses and you should make a point of being familiar with its contents. You can access the 2020 Tax Distance Student Guide from your Moodle course website(s).  

Webinars  

Throughout this course, you will have the opportunity to attend live webinars (conducted over the Internet). Instructions on preparing for webinars are available on the Taxation & Business Law website and in your course Moodle website.

These webinars provide an opportunity for you to clarify and extend your understanding of the material in this course. They are designed to try out new ideas and give you a forum to ask questions and discuss issues with your lecturer and other students. Do not be afraid to participate—it is only by trying out new ideas and exploring their dimensions that you will learn in any real depth.

Thorough preparation is essential if you are to gain maximum benefit from a webinar. You can only start to come to grips with material if you work on it actively. As a general rule, each webinar will cover the module/s between the previous webinar and the week it falls within on the Suggested Study Schedule. However, more specific information on material to be covered in each webinar may be provided via Moodle throughout the term. Exact dates and times for Webinars will be advised via a timetable that you will find on Moodle and on the TBL Website (under Timetables).

There are five webinars scheduled for this course during the Term. Each webinar is of approximately one and a half hours' duration.

Remember webinars are not lectures—your active participation is an important part of the learning experience and preparation for examinations!


Learning Activities and Teaching Strategies

​This course requires reading the Modules and the materials referred to in the Modules. The Modules also contain brief activities that are designed to get you to think more deeply about the content before you attend class / the webinar. In class / on the webinars, we will discuss more complex situations in which you need to apply the law that you have learnt from the Modules. The teaching will be interactive and where possible we will discuss topical examples to bring the material to life so you can see its relevance to your work and/or enhance your future studies.

5. Course Resources

Prescribed Textbook

Woellner RH, Barkoczy S, Murphy S, Evans C and Pinto D, 2020 Australian Taxation Law (Sydney: Oxford University Press, 30th edition 2020).

Act/s

You must purchase or have access to the following publication/s:

Income Tax Assessment Act 1936

Income Tax Assessment Act 1997

Citation and Style Guide

In presenting written work for assessment in this course you are required to adopt the following style guide:

Australian guide to legal citation (Melbourne University Law Review Association & Melbourne Journal of International Law, 4th ed, 2018).

Recommended References

Below is a list of further references that you may find useful in this course. Purchase of recommended references is not required.

Woodley M (ed), Osborn’s Concise Law Dictionary (London: Sweet & Maxwell, 12th ed, 2013).

Barkoczy S, Australian Tax Casebook (Oxford University Press, latest edition).

Marks B, Trusts & Estates: Taxation and Practice (Sydney: Taxation Institute of Australia, 2nd ed, 2009).

Cooper GS and Evans C, Cooper & Evans on CGT (Thomson Reuters, latest edition).

Dal Pont G Equity and Trusts in Australia (Sydney: Thomson Reuters, latest edition).

Deutsch, Friezer, Fullerton, Plummer, Hanley and Snape, Australian Tax Handbook (Thomson Reuters, latest edition).

Taylor, Walpole, Burton, Ciro , and Murray,  Understanding Taxation Law 2020 (LexisNexis Butterworths, 2020).

Heydon JD & Leeming MJ, Jacobs’ Law of Trusts in Australia (Sydney: LexisNexis Butterworths, latest edition).

Hughes P, Kolliou G, Pennell R and Coombes D, Australian Trusts Tax Handbook  (Sydney: Thomson Reuters, latest edition)

6. Course Evaluation & Development

Feedback is regularly sought from students and continual improvements are made based on this feedback. At the end of this course, you will be asked to complete the myExperience survey, which provides a key source of student evaluative feedback. Your input into this quality enhancement process is extremely valuable in assisting us to meet the needs of our students and provide an effective and enriching learning experience. The results of all surveys are carefully considered and do lead to action towards enhancing educational quality.

7. Course Schedule

Note: for more information on the UNSW academic calendar and key dates including study period, exam, supplementary exam and result release, please visit: https://student.unsw.edu.au/new-calendar-dates
Week Activity Topic Assessment/Other
Week 1: 17 FebruarySeminar/Webinar

Module 1: Introduction and overview of trust law

CBD Evening Class 1

Distance Students Webinar 1

Discussion of allocated Case Studies/Module Selections

 

Week 2: 24 FebruarySeminar

Module 2: Taxation of Trusts (Div 6 of ITAA 1936

CBD Class 2

Discussion of allocated Case Studies/Module Selections

Week 3: 2 MarchSeminar/Webinar

Module 2: Taxation of Trusts (Div 6 of ITAA 1936)

CBD Class 3

Distance students Webinar 2

Discussion of allocated Case Studies/Module Selections

Week 4: 9 MarchSeminar

Module 2: Taxation of Trusts (Div 6 of ITAA 1936)

CBD Class 4

Discussion of allocated Case Studies/Module Selections

Week 5: 16 MarchSeminar

Module 2: Taxation of Trusts (2011 streaming measures for dividends)

CBD Class 5

Distance students Webinar 3 on Module 2 continued

Discussion of allocated Case Studies/Module Selections

Week 6: 23 MarchSeminar/Webinar

Module 3: Application of the CGT rules to trusts, including streaming

CBD Class 6

Discussion of allocated Case Studies/Module Selections

Week 7: 30 MarchSeminar

Module 3: Application of the CGT rules to trusts, including streaming

CBD Class 7

Distance students Webinar 4

Discussion of allocated Case Studies/Module Selections

Week 8: 6 AprilSeminar/Webinar

Module 3: Application of the CGT rules to trusts, including streaming

CBD class 8

Discussion of allocated Case Studies/Module Selections

Week 9: 13 AprilSeminar

Module 4: Trust loss rules

CBD class 9

Distance students Webinar 5

Discussion of allocated Case Studies/Module Selections

Week 10: 20 AprilSeminar/Webinar

Modules 4 & 5 - Trust loss rules & Trust specific integrity measures

CBD class 10

Discussion of allocated Case Studies/Module Selections

8. Policies and Support

Information about UNSW Business School protocols, University policies, student responsibilities and education quality and support.

Program Learning Outcomes

The Business School places knowledge and capabilities at the core of its curriculum via seven Program Learning Outcomes (PLOs). These PLOs are systematically embedded and developed across the duration of all coursework programs in the Business School.

PLOs embody the knowledge, skills and capabilities that are taught, practised and assessed within each Business School program. They articulate what you should know and be able to do upon successful completion of your degree.

Upon graduation, you should have a high level of specialised business knowledge and capacity for responsible business thinking, underpinned by ethical professional practice. You should be able to harness, manage and communicate business information effectively and work collaboratively with others. You should be an experienced problem-solver and critical thinker, with a global perspective, cultural competence and the potential for innovative leadership.

All UNSW programs and courses are designed to assess the attainment of program and/or course level learning outcomes, as required by the UNSW Assessment Design Procedure. It is important that you become familiar with the Business School PLOs, as they constitute the framework which informs and shapes the components and assessments of the courses within your program of study.

PLO 1: Business knowledge

Students will make informed and effective selection and application of knowledge in a discipline or profession, in the contexts of local and global business.

PLO 2: Problem solving

Students will define and address business problems, and propose effective evidence-based solutions, through the application of rigorous analysis and critical thinking.

PLO 3: Business communication

Students will harness, manage and communicate business information effectively using multiple forms of communication across different channels.

PLO 4: Teamwork

Students will interact and collaborate effectively with others to achieve a common business purpose or fulfil a common business project, and reflect critically on the process and the outcomes.

PLO 5: Responsible business practice

Students will develop and be committed to responsible business thinking and approaches, which are underpinned by ethical professional practice and sustainability considerations.

PLO 6: Global and cultural competence

Students will be aware of business systems in the wider world and actively committed to recognise and respect the cultural norms, beliefs and values of others, and will apply this knowledge to interact, communicate and work effectively in diverse environments.

PLO 7: Leadership development

Students will develop the capacity to take initiative, encourage forward thinking and bring about innovation, while effectively influencing others to achieve desired results.

These PLOs relate to undergraduate and postgraduate coursework programs.  Separate PLOs for honours and postgraduate research programs are included under 'Related Documents'.

Business School course outlines provide detailed information for students on how the course learning outcomes, learning activities, and assessment/s contribute to the development of Program Learning Outcomes.

RELATED DOCUMENTS

 

UNSW Graduate Capabilities

The Business School PLOs also incorporate UNSW graduate capabilities, a set of generic abilities and skills that all students are expected to achieve by graduation. These capabilities articulate the University’s institutional values, as well as future employer expectations.

UNSW Graduate CapabilitiesBusiness School PLOs
Scholars capable of independent and collaborative enquiry, rigorous in their analysis, critique and reflection, and able to innovate by applying their knowledge and skills to the solution of novel as well as routine problems.
  • PLO 1: Business knowledge
  • PLO 2: Problem solving
  • PLO 3: Business communication
  • PLO 4: Teamwork
  • PLO 7: Leadership development

Entrepreneurial leaders capable of initiating and embracing innovation and change, as well as engaging and enabling others to contribute to change
  • PLO 1: Business knowledge
  • PLO 2: Problem solving
  • PLO 3: Business communication
  • PLO 4: Teamwork
  • PLO 6: Global and cultural competence
  • PLO 7: Leadership development

Professionals capable of ethical, self-directed practice and independent lifelong learning
  • PLO 1: Business knowledge
  • PLO 2: Problem solving
  • PLO 3: Business communication
  • PLO 5: Responsible business practice

Global citizens who are culturally adept and capable of respecting diversity and acting in a socially just and responsible way.
  • PLO 1: Business knowledge
  • PLO 2: Problem solving
  • PLO 3: Business communication
  • PLO 4: Teamwork
  • PLO 5: Responsible business practice
  • PLO 6: Global and cultural competence

While our programs are designed to provide coverage of all PLOs and graduate capabilities, they also provide you with a great deal of choice and flexibility.  The Business School strongly advises you to choose a range of courses that assist your development against the seven PLOs and four graduate capabilities, and to keep a record of your achievements as part of your portfolio. You can use a portfolio as evidence in employment applications as well as a reference for work or further study. For support with selecting your courses contact the UNSW Business School Student Centre.




Academic Integrity and Plagiarism

Academic Integrity is honest and responsible scholarship. This form of ethical scholarship is highly valued at UNSW. Terms like Academic Integrity, misconduct, referencing, conventions, plagiarism, academic practices, citations and evidence based learning are all considered basic concepts that successful university students understand. Learning how to communicate original ideas, refer sources, work independently, and report results accurately and honestly are skills that you will be able to carry beyond your studies.

The definition of academic misconduct is broad. It covers practices such as cheating, copying and using another person’s work without appropriate acknowledgement. Incidents of academic misconduct may have serious consequences for students.

Plagiarism

UNSW regards plagiarism as a form of academic misconduct. UNSW has very strict rules regarding plagiarism. Plagiarism at UNSW is using the words or ideas of others and passing them off as your own. All Schools in the Business School have a Student Ethics Officer who will investigate incidents of plagiarism and may result in a student’s name being placed on the Plagiarism and Student Misconduct Registers.

Below are examples of plagiarism including self-plagiarism:

Copying: Using the same or very similar words to the original text or idea without acknowledging the source or using quotation marks. This includes copying materials, ideas or concepts from a book, article, report or other written document, presentation, composition, artwork, design, drawing, circuitry, computer program or software, website, internet, other electronic resource, or another person's assignment, without appropriate acknowledgement of authorship.

Inappropriate Paraphrasing: Changing a few words and phrases while mostly retaining the original structure and/or progression of ideas of the original, and information without acknowledgement. This also applies in presentations where someone paraphrases another’s ideas or words without credit and to piecing together quotes and paraphrases into a new whole, without appropriate referencing.

Collusion: Presenting work as independent work when it has been produced in whole or part in collusion with other people. Collusion includes:

  • Students providing their work to another student before the due date, or for the purpose of them plagiarising at any time
  • Paying another person to perform an academic task and passing it off as your own
  • Stealing or acquiring another person’s academic work and copying it
  • Offering to complete another person’s work or seeking payment for completing academic work

Collusion should not be confused with academic collaboration (i.e., shared contribution towards a group task).

Inappropriate Citation: Citing sources which have not been read, without acknowledging the 'secondary' source from which knowledge of them has been obtained.

Self-Plagiarism: ‘Self-plagiarism’ occurs where an author republishes their own previously written work and presents it as new findings without referencing the earlier work, either in its entirety or partially. Self-plagiarism is also referred to as 'recycling', 'duplication', or 'multiple submissions of research findings' without disclosure. In the student context, self-plagiarism includes re-using parts of, or all of, a body of work that has already been submitted for assessment without proper citation.

To see if you understand plagiarism, do this short quiz: https://student.unsw.edu.au/plagiarism-quiz

Cheating

The University also regards cheating as a form of academic misconduct. Cheating is knowingly submitting the work of others as their own and includes contract cheating (work produced by an external agent or third party that is submitted under the pretences of being a student’s original piece of work). Cheating is not acceptable at UNSW.

If you need to revise or clarify any terms associated with academic integrity you should explore the 'Working with Academic Integrity' self-paced lessons available at: https://student.unsw.edu.au/aim.

For UNSW policies, penalties, and information to help you avoid plagiarism see: https://student.unsw.edu.au/plagiarism as well as the guidelines in the online ELISE tutorials for all new UNSW students: http://subjectguides.library.unsw.edu.au/elise. For information on student conduct see: https://student.unsw.edu.au/conduct.

For information on how to acknowledge your sources and reference correctly, see: https://student.unsw.edu.au/referencing. If you are unsure what referencing style to use in this course, you should ask the lecturer in charge.


Student Responsibilities and Conduct

​Students are expected to be familiar with and adhere to university policies in relation to class attendance and general conduct and behaviour, including maintaining a safe, respectful environment; and to understand their obligations in relation to workload, assessment and keeping informed.

Information and policies on these topics can be found on the 'Managing your Program' website.

Workload

It is expected that you will spend at least ten to twelve hours per week studying for a course except for Summer Term courses which have a minimum weekly workload of twenty to twenty four hours. This time should be made up of reading, research, working on exercises and problems, online activities and attending classes. In periods where you need to complete assignments or prepare for examinations, the workload may be greater. Over-commitment has been a cause of failure for many students. You should take the required workload into account when planning how to balance study with employment and other activities.

We strongly encourage you to connect with your Moodle course websites in the first week of semester. Local and international research indicates that students who engage early and often with their course website are more likely to pass their course.

View more information on expected workload

Attendance

Your regular and punctual attendance at lectures and seminars or in online learning activities is expected in this course. The Business School reserves the right to refuse final assessment to those students who attend less than 80% of scheduled classes where attendance and participation is required as part of the learning process (e.g., tutorials, flipped classroom sessions, seminars, labs, etc.).

View more information on attendance

General Conduct and Behaviour

You are expected to conduct yourself with consideration and respect for the needs of your fellow students and teaching staff. Conduct which unduly disrupts or interferes with a class, such as ringing or talking on mobile phones, is not acceptable and students may be asked to leave the class.

View more information on student conduct

Health and Safety

UNSW Policy requires each person to work safely and responsibly, in order to avoid personal injury and to protect the safety of others.

View more information on Health and Safety

Keeping Informed

You should take note of all announcements made in lectures, tutorials or on the course web site. From time to time, the University will send important announcements to your university e-mail address without providing you with a paper copy. You will be deemed to have received this information. It is also your responsibility to keep the University informed of all changes to your contact details.



Student Support and Resources

​The University and the Business School provide a wide range of support services and resources for students, including:

Business School EQS Consultation Program
The Consultation Program offers academic writing, literacy and numeracy consultations, study skills, exam preparation for Business students. Services include workshops, online resources, individual and group consultations. 
Level 1, Room 1035, Quadrangle Building.
BUS.EQS.Consultations@unsw.edu.au
02 9385 4508

Communication Resources
The Business School Communication and Academic Support programs provide online modules, communication workshops and additional online resources to assist you in developing your academic writing.

Business School Student Centre
The Business School Student Centre provides advice and direction on all aspects of admission, enrolment and graduation.
Level 1, Room 1028 in the Quadrangle Building
02 9385 3189

UNSW Learning & Careers Hub
The UNSW Learning & Careers Hub provides academic skills and careers support services—including workshops, individual consultations and a range of online resources—for all UNSW students. See their website for details.
Lower Ground Floor, North Wing Chancellery Building.
learningcentre@unsw.edu.au
02 9385 2060

Student Support Advisors
Student Support Advisors work with all students to promote the development of skills needed to succeed at university, whilst also providing personal support throughout the process.
John Goodsell Building, Ground Floor.
advisors@unsw.edu.au
02 9385 4734

International Student Support
The International Student Experience Unit (ISEU) is the first point of contact for international students. ISEU staff are always here to help with personalised advice and information about all aspects of university life and life in Australia.
Advisors can support you with your student visa, health and wellbeing, making friends, accommodation and academic performance.
International.student@unsw.edu.au
02 9385 4734

Equitable Learning Services
Equitable Learning Services (formerly Disability Support Services) is a free and confidential service that provides practical support to ensure that your health condition doesn't adversely affect your studies. Register with the service to receive educational adjustments.
Ground Floor, John Goodsell Building.
els@unsw.edu.au
02 9385 4734

UNSW Counselling and Psychological Services
Provides support and services if you need help with your personal life, getting your academic life back on track or just want to know how to stay safe, including free, confidential counselling.
Level 2, East Wing, Quadrangle Building.
counselling@unsw.edu.au
02 9385 5418

Library services and facilities for students
The UNSW Library offers a range of collections, services and facilities both on-campus and online.
Main Library, F21.
02 9385 2650

Moodle eLearning Support
Moodle is the University’s learning management system. You should ensure that you log into Moodle regularly.
externalteltsupport@unsw.edu.au
02 9385 3331

UNSW IT
UNSW IT provides support and services for students such as password access, email services, wireless services and technical support.
UNSW Library Annexe (Ground floor).
02 9385 1333



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