BLO2206 TAXATION LAW AND PRACTICE

ASSIGNMENT

SEMESTER 3 – 2015 - 2016

Length: Total word length should be approximately 2000 words. It is in the discretion of students the word length for each answer. ALL questions should be answered.
Marking: Mark allocation is set out for students in the introductory work notes. Students must refer to appropriate sections of legislation where applicable. Reference to cases should be made where there is a case that is important to the answer.
Due Date: To be advised. Submission time is 5 pm. An electronic copy must be submitted through collaborate on the homepage of the website for this unit. The electronic copy will be taken as proof of submission and date and time of submission. A hard copy must also be placed in the assignment box at your campus. If you cannot upload your assignment to collaborate please email a copy toyour teacher by the due time and date.

Individual The assignment is to be submitted as an individual piece of work.

Plagiarism A student who plagiarizes will have their assignment returned with a zero mark. Students should familiarize themselves with the university policy on plagiarism.

Note: Please do not place assignment answers in plastic sleeves.

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QUESTION

Purpose of this assignment. That students will survey the concept of a small business for the purposes of taxation law in Australia, and further the concessions that are offered to such small businesses. The assignment requires students to outline the recent concessions granted to small businesses in the recent budget. Students should also consider and understand the policy behind the granting of business concessions through the tax system.

In this assignment students are requested to:
• Outline what is, and what is not a small business (SB) for tax purposes.
• Where the SB definition is determined within legislation, with any appropriate comments or criticism.
• What concessions are actually offered to small business, with appropriate comments on the usefulness of those concessions.
• What concessions and changes took place within both recent legislation and the recent Australian budget.
• Make some comment on the policy behind the changes to the concessions offered to SB’s.
• What the commentary has been from business and other bodies regarding the changes that have taken place, or further what changesshould take place.
• Explain any views taken by the ATO regarding SB concessions.

• Make any pertinent or relevant observations that come to light during the a student’s research.

Sources of information:

• ATO publications and public information
• Legal information, newsletters and commentary
• Textbook materials
• Resources from AUSTLII
• Parliamentary information, ie new legislation and commentary
• Business advice publications

Students are expected to synthesise available information, and not just cut and paste. Marks will be allocated for work that is well written, original and thoughtful.