CORPFIN 6003 - Tax, Estate and Wealth Planning
North Terrace Campus - Summer - 2020
-
General Course Information
Course Details
Course Code CORPFIN 6003 Course Tax, Estate and Wealth Planning Coordinating Unit Adelaide Business School Term Summer Level Postgraduate Coursework Location/s North Terrace Campus Units 3 Contact Up to 12 hours per week Available for Study Abroad and Exchange N Assumed Knowledge CORPFIN 7005 Assessment Exam and assignments as prescribed at first lecture Course Staff
Course Coordinator: Mr Domenic Carbone
Location: Law School, Ligertwood Building
Telephone: 8313 4759 (work)
Email: domenic.carbone@adelaide.edu.au
Course website: www.myuni.adelaide.edu.auCourse Timetable
The full timetable of all activities for this course can be accessed from Course Planner.
-
Learning Outcomes
Course Learning Outcomes
On successful completion of this course students will be able to:- Apply the fundamental concepts of Australian income tax law, tax planning, and estate and wealth planning to make informed financial decisions.
- Apply critical thinking and problem solving skills to resolve income tax, tax planning, and estate and wealth planning issues.
- Communicate effectively orally income tax information and solutions to income tax, tax planning, and estate and wealth planning issues.
- Communicate effectively in writing income tax information and solutions to income tax, tax planning, and estate and wealth planning issues.
- Demonstrate how to use documentation for estate planning both in a legal and administrative context, and the consequences of non-compliance.
- Apply strategies used in estate planning, in the interaction of superannuation with estate planning and in the taxation of deceased estates.
University Graduate Attributes
This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:
University Graduate Attribute Course Learning Outcome(s) Deep discipline knowledge
- informed and infused by cutting edge research, scaffolded throughout their program of studies
- acquired from personal interaction with research active educators, from year 1
- accredited or validated against national or international standards (for relevant programs)
1, 2 & 6 Critical thinking and problem solving
- steeped in research methods and rigor
- based on empirical evidence and the scientific approach to knowledge development
- demonstrated through appropriate and relevant assessment
1, 2, 5 & 6 Teamwork and communication skills
- developed from, with, and via the SGDE
- honed through assessment and practice throughout the program of studies
- encouraged and valued in all aspects of learning
3 & 4 Career and leadership readiness
- technology savvy
- professional and, where relevant, fully accredited
- forward thinking and well informed
- tested and validated by work based experiences
1 to 6 Intercultural and ethical competency
- adept at operating in other cultures
- comfortable with different nationalities and social contexts
- able to determine and contribute to desirable social outcomes
- demonstrated by study abroad or with an understanding of indigenous knowledges
6 -
Learning Resources
Required Resources
Required reading will be provided and advised to students during the course.
Recommended Resources
Reference Books
Australian Financial Planning Handbook 2018-19, Thomson Reuters, Australia
Australian Master Financial Planning Guide 2019/20, Wolters Kluwer (CCH) Australia
-
Learning & Teaching Activities
Learning & Teaching Modes
Prior to each seminar, students will be expected to have reviewed the topics to be discussed and attempted any set questions/exercises. There is a strong assumption that students will engage in seminar discussions in an informed way.
Workload
The information below is provided as a guide to assist students in engaging appropriately with the course requirements.
The University expects full-time students (i.e. those taking 12 units per semester) to devote a total of 48 hours per week to their studies. This means that you are expected to commit approximately 12 hours for a three-unit course of private study outside of your regular classes.
Students in this course are expected to attend all seminars.
Learning Activities Summary
TAX PLANNING
Topic 1 – Overview of the Australian Tax System & Tax Planning
Topic 2 – Taxation of Employee Remuneration
Topic 3 – Taxation of Investment Income
Topic 4 – Investment & Capital Gains Tax
Topic 5 – Taxation of Investment Structures
Topic 6 – International Taxation
BUSINESS TAX PLANNING
Topic 1 – Tax Differences between Entities and Tax Accounting for Business Income
Topic 2 – Income Tax Issues for Business
Topic 3 – Specific Anti-avoidance Issues
Topic 4 – Tax Issues in Buying or Selling a Business
ESTATE AND WEALTH PLANNING
Topic 1 – Introduction to Estate Planning
Topic 2 – Complex Estate Planning
Topic 3 – Powers of Attorney and Advanced Care Directives
Topic 4 – Superannuation
Topic 5 – Taxation Implications of Deceased Estates -
Assessment
The University's policy on Assessment for Coursework Programs is based on the following four principles:
- Assessment must encourage and reinforce learning.
- Assessment must enable robust and fair judgements about student performance.
- Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
- Assessment must maintain academic standards.
Assessment Summary
Assessment Task Weighting Learning Outcome Seminar participation 10% 1-3 Exam
(3 hour open book)50% 1-4 Assignment 25% 1-4 Online test
(open book)15% 1,2,6 Total 100% Assessment Detail
Students must complete ALL assessment components for this course.
To gain a pass in the course, a mark of at least 50% overall is required. There is no requirement that a particular part of the assessment must be passed.
Seminar Participation
This will assess the qualitative contribution of students to seminar classes. Students will be assessed on their seminar preparation and input into the seminar discussion. It requires regular attendance at seminars but more importantly regular active participation in seminar discussions.
Exam
The exam will cover only the Tax Planning section of the course and is held midway through the course on 28 January. See the Course Planner for further details of the exam time and location.
The exam is of 3 hours duration. In addition, you are allowed 10 minutes reading time before the examination begins, to read the paper and to make notes.
The exam is “open book” but you must not bring into the exam room any book belonging to the University of Adelaide Libraries. “Permitted Materials” in the exam room are the prescribed textbook or any other tax textbook, the legislation, course materials and handouts, your own lecture and other notes written and prepared by you, and not prepared by or taken from someone else. You may also bring into the exam room an English or English/foreign language dictionary (paper only), and calculator incapable of sending text.
Examinations will be held only at the time and locations stated in the University’s Examination Timetable, so may not be taken in another country. Students should not make any arrangements to be absent until after the replacement/additional (sup) exam period.
Assignment
This will consist of problem type case study questions that must be answered in a written essay. The maximum word limit for the assignment is 2,000 words including footnotes.
Students have the choice of submitting the Assignment answer either individually or in a group of up to three members. If an Assignment answer is submitted by a group, the mark given to the Assignment answer will be the mark received by each member of a group. If students choose to submit an Assignment as a group, it the students' responsibility to arrange themselves into the group.
Online Test
The Online Test comprises 15 multiple choice questions and students must answer all 15 questions. The Online Test must be completed in no more than 45 minutes from starting to answer the questions and in a single sitting.
Submission
Presentation of Assignments
Students must retain a copy of all assignments submitted.
Assignments must have attached an Assignment Cover Sheet, which must be signed and dated by students before submission.
Lecturers can refuse to accept assignment, which do not have a signed acknowledgement of the University's policy on plagiarism.
Late Assignment Submission
Students are expected to submit their work by the due date to maintain a fair and equitable system. Extensions will generally only be given for medical or other serious reasons. All requests for extensions must be emailed to the lecturer in charge of the course before the due date. Each request will be assessed on its merits. A late assignment (without prior arrangement) will be penalised by a 5% mark reduction for each day that it is late.
Return of Assignments
Lecturer’s aim to mark and return assignments to students within two (2) weeks of the due date with written feedback.Course Grading
Grades for your performance in this course will be awarded in accordance with the following scheme:
M10 (Coursework Mark Scheme) Grade Mark Description FNS Fail No Submission F 1-49 Fail P 50-64 Pass C 65-74 Credit D 75-84 Distinction HD 85-100 High Distinction CN Continuing NFE No Formal Examination RP Result Pending Further details of the grades/results can be obtained from Examinations.
Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.
Final results for this course will be made available through Access Adelaide.
-
Student Feedback
The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.
SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.
-
Student Support
- Academic Integrity for Students
- Academic Support with Maths
- Academic Support with writing and study skills
- Careers Services
- International Student Support
- Library Services for Students
- LinkedIn Learning
- Student Life Counselling Support - Personal counselling for issues affecting study
- Students with a Disability - Alternative academic arrangements
- YouX Student Care - Advocacy, confidential counselling, welfare support and advice
-
Policies & Guidelines
This section contains links to relevant assessment-related policies and guidelines - all university policies.
- Academic Credit Arrangements Policy
- Academic Integrity Policy
- Academic Progress by Coursework Students Policy
- Assessment for Coursework Programs Policy
- Copyright Compliance Policy
- Coursework Academic Programs Policy
- Elder Conservatorium of Music Noise Management Plan
- Intellectual Property Policy
- IT Acceptable Use and Security Policy
- Modified Arrangements for Coursework Assessment Policy
- Reasonable Adjustments to Learning, Teaching & Assessment for Students with a Disability Policy
- Student Experience of Learning and Teaching Policy
- Student Grievance Resolution Process
-
Fraud Awareness
Students are reminded that in order to maintain the academic integrity of all programs and courses, the university has a zero-tolerance approach to students offering money or significant value goods or services to any staff member who is involved in their teaching or assessment. Students offering lecturers or tutors or professional staff anything more than a small token of appreciation is totally unacceptable, in any circumstances. Staff members are obliged to report all such incidents to their supervisor/manager, who will refer them for action under the university's student’s disciplinary procedures.
The University of Adelaide is committed to regular reviews of the courses and programs it offers to students. The University of Adelaide therefore reserves the right to discontinue or vary programs and courses without notice. Please read the important information contained in the disclaimer.
