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17703 Property Taxation

Warning: The information on this page is indicative. The subject outline for a particular session, location and mode of offering is the authoritative source of all information about the subject for that offering. Required texts, recommended texts and references in particular are likely to change. Students will be provided with a subject outline once they enrol in the subject.

Subject handbook information prior to 2020 is available in the Archives.

UTS: Design, Architecture and Building: School of the Built Environment
Credit points: 6 cp

Subject level:

Postgraduate

Result type: Grade and marks

There are course requisites for this subject. See access conditions.

Description

This subject involves the analysis of various forms of taxation relating to property holdings and property investment; income tax, capital gains tax, depreciation allowances, land tax and stamp duties; taxation of trusts; negative gearing and alternative forms of taxation and their likely impacts on the property industry.

Subject learning objectives (SLOs)

On successful completion of this subject, students should be able to:

1. Identify assessable income and allowable deductions with regards to income producing property
2. Prepare and analyse schedules for the decline in value of assets and capital works
3. Use taxation skills and knowledge in the analysis and preparation of rental property schedules
4. Use basic taxation skills and knowledge applicable to the application of ABN and GST
5. Relate GST matters specific to the Built Environment
6. Use taxation skills to analyse and identify capital gain matters specific to the Built Environment

Course intended learning outcomes (CILOs)

This subject also contributes to the following Course Intended Learning Outcomes:

  • Ability to demonstrate a theoretical and practical understanding of built environment law and procedures in a variety of property-related contexts (P.4)
  • Ability to demonstrate knowledge of research principles and methods applicable to property development and / or related scholarly contexts (R.1)

Contribution to the development of graduate attributes

The term CAPRI is used for the five Design, Architecture and Building faculty graduate attribute categories where:

C = communication and groupwork

A = attitudes and values

P = practical and professional

R = research and critique

I = innovation and creativity

Course intended learning outcomes (CILOs) are linked to these categories using codes (e.g. C-!, A-3, P-4, etc).

Teaching and learning strategies

Block classes on campus: 39 hours incorporating studio workshop/tutorials/online resource learning and tutorial.
The learning activities in this subject involve a variety of lectures, tutorials, and online teaching strategies.

LECTURES
The lecture series involves face-to face delivery of specific knowledge associated with theory underpinning this subject. Lectures employ the use of media and electronic resources that align the subject’s overarching themes, activities and learning methods. Emphasis will be placed on independent student prereading of lecture material to facilitate greater understanding of each lecture topic area.

TUTORIALS
Tutorial contact links subject content theory and application. Tutorial discussion supports the lecture series and allows students to experience immediate feedback, facilitating valid opportunities to reflect on their learning in real-time.

ONLINE RESOURCES
There are a number of online resources used to support the learning objectives of this subject. These are located on UTS Online. A detailed overview of subject material and information on associated tasks and assessment items are included in the online subject documents. Also online are essential and recommended readings. Significantly, the readings support both lecture series by providing students with an overview of theory associated with the evolving body of knowledge related to property taxation. Emphasis will be placed on independent student prereading of lecture material to facilitate greater understanding of each lecture topic.

ASSESSMENT
Content knowledge in this subject is assessed in the form of a written test and formal examination. Both assessments utilise unrestricted open book access. Such assessments test high level analysis skill and understanding of formulae and regulation related to property taxation.

FEEDBACK
Students will have several opportunities to receive feedback during the subject. The feedback provided will vary in form, purpose and in its degree of formality:

Formative feedback will be provided during the learning process, typically provided verbally during tutorial sessions. It is designed to help students improve their performance in time for the submission of an assessment item. Students are required to respond constructively to the feedback provided in tutorial sessions and lectures. This involves critically reflecting on discussion of subject content. Formative feedback may also, on occasion, be provided by other students. It is delivered informally, either in conversation during a tutorial or in the course of discussion at the scale of the whole class. It is the student’s responsibility to record any feedback given during meetings or studio sessions.

Summative feedback is provided in written form with all assessed work. It is published along with indicative grades, accessible via UTS Online. Summative feedback focuses on assessment outcomes. It is used to indicate how successfully a student has performed in terms of specific assessment criteria.

Content (topics)

  • Introduction to Property Tax
  • Decline in Value of an Asset: Depreciation schedules, Accelerated depreciation.
  • Capital Works: Special building write-off.
  • Income Producing Properties: Preparation of Rental Schedules, Depreciation, Loan Schedules, Borrowing Expenses.
  • Australian Business Number and Goods and Services Tax: Registration and threshold.
  • Goods and Services Tax: Taxable Supplies, Input Taxed Supplies, GST-Free supplies, Property Matters.
  • Capital Gains Tax: Frozen Indexation Method, Discount Method, Other Method, Integrated Case Studies.

Assessment

Assessment task 1: Written Class Test

Intent:

To assess content knowledge from block classes held on day one and day two.

Objective(s):

This task addresses the following subject learning objectives:

1, 2 and 3

This task also addresses the following course intended learning outcomes that are linked with a code to indicate one of the five CAPRI graduate attribute categories (e.g. C.1, A.3, P.4, etc.):

P.4

Type: Quiz/test
Groupwork: Individual
Weight: 40%
Criteria linkages:
Criteria Weight (%) SLOs CILOs
Identify assessable income and allowable deductions with regards to income producing property 30 1 P.4
Prepare and analyse schedules for the decline in value of assets and capital works 30 2 P.4
Use taxation skills and knowledge in the analysis and preparation of rental property schedules 40 3 P.4
SLOs: subject learning objectives
CILOs: course intended learning outcomes

Assessment task 2: Formal Exam

Intent:

To assess content knowledge from block classes held on day three and day four.

Objective(s):

This task addresses the following subject learning objectives:

4, 5 and 6

This task also addresses the following course intended learning outcomes that are linked with a code to indicate one of the five CAPRI graduate attribute categories (e.g. C.1, A.3, P.4, etc.):

P.4 and R.1

Type: Examination
Groupwork: Individual
Weight: 60%
Criteria linkages:
Criteria Weight (%) SLOs CILOs
Use basic taxation skills and knowledge applicable to the application of ABN and GST 10 4 P.4
Relate GST matters specific to the Built Environment 35 5 P.4
Use taxation skills to analyse and identify capital gain matters specific to the Built Environment 55 6 R.1
SLOs: subject learning objectives
CILOs: course intended learning outcomes

Minimum requirements

The DAB attendance policy requires students to attend no less than 80% of formal teaching sessions (lectures and tutorials) for each class they are enrolled in to remain eligible for assessment.

Required texts

Australian Taxation Study Manual, 29th Edition, Nethercott, Devos, Gonzaga 2019, Oxford Publishers

Australian Master Tax Guide 64th Edition 2019 printed by Wolters Kluwer and earlier version also available through the UTS Library
data base

On-line resource also available at UTS Library

Recommended texts

Master Tax Examples from CCH Publications,

Australian Master Tax Guide earlier Editions