CORPFIN 3003 - Tax Superannuation and Estate Planning
North Terrace Campus - Semester 2 - 2022
General Course Information
Course Code CORPFIN 3003 Course Tax Superannuation and Estate Planning Coordinating Unit International Centre for Financial Services Term Semester 2 Level Undergraduate Location/s North Terrace Campus Units 3 Contact Up to 3 hours per week Available for Study Abroad and Exchange Y Incompatible CORPFIN 6003 Course Description This course covers tax planning generally and also business tax planning, and estate and superannuation planning. The tax planning section focuses on an overview of the Australian tax system and tax planning principles, taxation of employee remuneration, taxation of investment income including capital gains tax, taxation of investment structures, and international taxation. As well as providing students with knowledge of fundamental concepts of Australian income tax law and basic tax planning principles, specific strategies for tax planning are covered for each of these topics. The business tax planning section covers income tax issues for business, specific anti-avoidance issues for business entities, and tax issues in buying and selling a business. The estate planning section deals with the process of planning and implementing the orderly transfer of a person's wealth in the event of their death for the benefit of their intended beneficiaries. This section focuses on what are estate and non-estate assets, estate planning objectives, strategies to achieve objectives, specific strategies for estate planning, taxation issues relating to deceased estates and the estate administration process. The section also covers superannuation and the treatment of superannuation benefits during a person's lifetime and at their death.
Course Coordinator: Mr Domenic Carbone
The full timetable of all activities for this course can be accessed from Course Planner.
Course Learning OutcomesOn successful completion of this course students will be able to:
1. Apply the fundamental concepts of Australian income tax law, tax planning, and superannuation and estate planning to make informed financial decisions.
2. Communicate effectively orally income tax information and solutions to income tax, tax planning, and superannuation and estate planning issues.
3. Communicate effectively in writing income tax information and solutions to income tax, tax planning, and superannuation and estate planning issues.
4. Demonstrate how to use documentation for estate planning both in a legal and administrative context, and the consequences of non-compliance.
5. 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)
Attribute 1: Deep discipline knowledge and intellectual breadth
Graduates have comprehensive knowledge and understanding of their subject area, the ability to engage with different traditions of thought, and the ability to apply their knowledge in practice including in multi-disciplinary or multi-professional contexts.
1 & 5
Attribute 2: Creative and critical thinking, and problem solving
Graduates are effective problems-solvers, able to apply critical, creative and evidence-based thinking to conceive innovative responses to future challenges.
1, 2, 3 & 5
Attribute 3: Teamwork and communication skills
Graduates convey ideas and information effectively to a range of audiences for a variety of purposes and contribute in a positive and collaborative manner to achieving common goals.
2 & 3
Attribute 4: Professionalism and leadership readiness
Graduates engage in professional behaviour and have the potential to be entrepreneurial and take leadership roles in their chosen occupations or careers and communities.
1 to 5
Required ResourcesRequired reading will be provided and advised to students during the course.
Recommended ResourcesReference Books
Australian Master Financial Planning Guide 2021/22, Wolters Kluwer (CCH) Australia
Australian Financial Planning Handbook 2021-22, Thomson Reuters, Australia
Learning & Teaching Activities
Learning & Teaching ModesThe seminars will be delivered “online” as well as “face to face” so students have the choice of attending. Seminar recordings will be made available via Echo360.
The information below is provided as a guide to assist students in engaging appropriately with the course requirements.The University expects full-time students (ie 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 seminars.
Learning Activities SummaryTAX 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 – Income Tax Issues for Business
Topic 2 – Specific Anti-avoidance Issues for Business
Topic 3 – Tax Issues in Buying or Selling a Business
SUPERANNUATION AND ESTATE PLANNING
Topic 1 – Introduction to Estate Planning
Topic 2 – Complex Estate Planning
Topic 3 – Powers of Attorney and Advance Care Directives
Topic 4 – Superannuation
Topic 5 – Taxation Implications of Deceased Estates
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 Weighting Due Learning Outcome Online Test 1
10% Friday week 5 at 4 pm 1 & 3 Online Test 2
10% Friday week 9 at 4 pm 1 & 3 Online Test 3
10% Monday week 13 at 4 pm 1 & 3 Exam
70% Exam period 1 & 3-5 Total 100%
Assessment DetailStudents 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.
Online Tests - 3 @ 10% each
Each of the 3 Online Tests comprises 15 multiple choice questions and students must answer all 15 questions. The Online Tests must be completed in no more than 45 minutes from starting to answer the questions and in a single sitting.
Each Online Test is "open book".
Exam - 70%
The exam will be "open book" and is of 3 hours duration.
No information currently available.
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.
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.
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