Course Title: Comply with tax obligations in a conveyancing transaction

Part B: Course Detail

Teaching Period: Term1 2022

Course Code: LAW5758C

Course Title: Comply with tax obligations in a conveyancing transaction

Important Information:

Please note that this course may have compulsory in-person attendance requirements for some teaching activities.  

To participate in any RMIT course in-person activities or assessment, you will need to comply with RMIT vaccination requirements which are applicable during the duration of the course. This RMIT requirement includes being vaccinated against COVID-19 or holding a valid medical exemption.  

Please read this RMIT Enrolment Procedure as it has important information regarding COVID vaccination and your study at RMIT: https://policies.rmit.edu.au/document/view.php?id=209.  

Please read the Student website for additional requirements of in-person attendance: https://www.rmit.edu.au/covid/coming-to-campus  

  

Please check your Canvas course shell closer to when the course starts to see if this course requires mandatory in-person attendance. The delivery method of the course might have to change quickly in response to changes in the local state/national directive regarding in-person course attendance.

School: 525T Business & Enterprise

Campus: City Campus

Program: C6170 - Advanced Diploma of Conveyancing

Course Contact: Theresa Lyford

Course Contact Phone: +61 3 9925 5444

Course Contact Email: theresa.lyford@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

Joseph Detering - Course Coordinator and Teacher

joseph.detering@rmit.edu.au


Nominal Hours: 60

Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.

Pre-requisites and Co-requisites

None

Course Description

In this course you will acquire the skills and knowledge required to research and identify tax obligations for a conveyancing transaction within a range of contexts and environments. This encompasses identifying and applying statutory interpretation techniques, identifying and tracking changes to relevant legislation and codes of conduct, maintaining appropriate records, using online platforms to calculate and pay tax, and complying with reporting obligations.



National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

BSBCNV616 Comply with tax obligations in a conveyancing transaction

Element:

1. Research tax obligations

Performance Criteria:

1.1 Identify reliable sources for research information relevant to practice policies and procedures

1.2 Create and document research strategy and confirm that it contains research of state and federal tax obligations that apply to conveyancing transactions

1.3 Implement research strategy and collect all relevant information

Element:

2. Identify tax obligations relevant to transaction

Performance Criteria:

2.1 Identify type of conveyancing transaction that requires tax to be paid or withheld

2.2 Identify parties involved in conveyancing transaction

2.3 Assess conveyancing transaction details against research and identify tax obligations

2.4 Identify relevant tax reduction schemes and exemptions according to completed research that may reduce tax payable

2.5 Assess conveyancing transaction details against tax reduction scheme eligibility criteria

2.6 Calculate amount of tax to be paid or withheld from transaction, where required

2.7 Consult relevant legal or accounting specialists and confirm own assessment, where required

2.8 Document tax obligations that apply to conveyancing transaction

Element:

3. Apply obligations to transaction

Performance Criteria:

3.1 Communicate identified tax obligations, withholding amounts, reduction schemes, and exemptions to client

3.2 Apply relevant tax reductions schemes and exemptions, where required

3.3 Pay or withhold relevant amount of tax, where required

Element:

4. Record and lodge tax obligations

Performance Criteria:

4.1 Identify relevant online platform and download forms according to legislation, regulation, standards and practice policies and procedures

4.2 Interpret forms and complete using transaction details

4.3 Confirm procedure to lodge completed forms

4.4 Lodge forms with relevant authorities

4.5 Record all details of transaction and lodgement according to practice policies and procedures

Element:

5. Finalise and file records

Performance Criteria:

5.1 Identify records required to be archived according to legislation, regulation, standards and practice policies and procedures

5.2 Close and archive records according to legislative, regulatory and practice policies and procedures


Learning Outcomes


On successful completion of this course you will have developed and applied the skills and knowledge required to demonstrate competency in the above elements.


Details of Learning Activities

This semester we will be learning remotely through Collaborate Ultra Sessions.

A range of learning activities are planned for this course including self-paced and discussion activities.

The self-paced activities will be delivered through various technology platforms and may include your contribution to wikis and discussion threads, reflective journals, quizzes and interactive sessions.

The collaborative activities will include group discussions, group problem-solving activities and opportunities to practice your skills in a simulated/real workplace environment. We expect you to participate and contribute in all scheduled learning activities.

This course will be delivered via our existing learning management system, Canvas.  This means that, for the foreseeable future, there will be no face-to-face classes in any of the units for which you are enrolled.

Classes in each of your units will still take place in their normal scheduled time-slots, but instead of being conducted in a face-to-face mode, your teachers will utilise the Collaborate Ultra platform to deliver ‘live’ online classes.  These classes delivered online will not only provide you with the required learning materials for those sessions, but they will also enable interactions with your teachers and fellow students via forums or discussion boards.

This course guide contains information that describes course aspects that don’t change and are locked in well ahead of the semester. Any information that differs due to changes of delivery is a consequence of COVID-19. Your course coordinator will advise you as to the correct details via Canvas.



Teaching Schedule

Semester 1, 2022

Week Topic Learning Activities Assessment
1

Introduction. Types of conveyancing transactions. Legislative, regulatory and industry practices. Develop research strategy. Assessing and applying tax obligations

Weekly Canvas course activities located in this weeks module
2

Land transfer (stamp duty). Dutiable transactions.SRO duty calculator. Exemptions & Concessions. Duties online platform

Weekly Canvas course activities located in this weeks module
3

Land tax. Vacant land tax

Weekly Canvas course activities located in this weeks module
4

Capital Gains Tax. Foreign Resident Capital Gains Tax. Exceptions & Variations. Clearance certificates

Weekly Canvas course activities located in this weeks module

Assessment 1 due 

5

Growth Area Infrastructure Contributions. Event triggers. Non-liability events. Rates

Weekly Canvas course activities located in this weeks module
6

GST. ATO online property tool. Input tax. Margin scheme

Weekly Canvas course activities located in this weeks module
7 Archive. Record and finalising the conveyancing taxation Weekly Canvas course activities located in this weeks module
8 Revision Weekly Canvas course activities located in this weeks module Assessment 2 due 


Learning Resources

Prescribed Texts


References


Other Resources

Online learning materials can be accessed by going into the RMIT website's Online Learning Hub.

The online learning materials listed include:

  • Course outlines
  • Power point Presentations
  • Supporting Reading material
  • Industry relevant articles
  • Activities.

We recommend the following Conveyancing industry textbook which has valuable information for students.

Conveyancing Victoria the ultimate guide, by Simon Libbis. Available from Hybrid Publishers Melbourne

https://www.hybridpublishers.com.au/


Overview of Assessment

Assessment for this course is ongoing throughout the semester. Your knowledge and understanding of course content is assessed through participation in class exercises, oral presentations and through the application of learned skills and insights to your written tasks. Full assessment briefs will be provided and can be found on CANVAS.


Assessment Tasks

Assessment 1: Due Week 4

This assessment task has two (2) parts:
Part A – Conduct Research
Part B – Work on three files


Assessment Task 2: Due Week 8

The purpose of this assessment is to assess your skills and knowledge required to research and identify tax 
obligations for a conveyancing transaction within a range of contexts and environments.  There are a total of 
eighteen (18) questions which will include knowledge of identifying and applying statutory interpretation 
techniques, identifying and tracking changes to relevant legislation and codes of conduct, maintaining appropriate 
records, using online platforms to calculate and pay tax, and complying with reporting obligations.


Assessment Matrix

The assessment matrix that maps all the assessments is available on CANVAS.

Other Information

Submission Requirements

  • Ensure that you submit assessments on or before the due date.
  • Always retain a copy of your assessment tasks. (hard copy and soft copy)
  • When you submit work for assessment at RMIT University you need to use the Assessment task document that includes a declaration and statement of authorship.
  • Each page of your assessment should include a footer with your name, student number, the title of the assessment, unit code and title and page numbers.

 

Resubmissions (VET Programs)

If you are found to be unsuccessful (Not satisfactory/Unsatisfactory) in a Course Assessment Task you will be allowed one resubmission.  Your teacher will provide feedback regarding what you need to do to improve and will set a new deadline for the resubmission.

If you are still not meeting the assessment requirements you must apply to your Program Manager in writing outlining the steps you will take to demonstrate competence in your course. Your submission will be considered by the Program Team and you will be advised of the outcome as soon as possible.

 

Penalties for Late Submission 

Late submissions of assignments without special consideration or extension will automatically be considered a re-submission (see above).

 

Extensions, Special Consideration and Adjustment to Assessments

Extensions:

Extensions are available for unforeseen circumstances of a short-term nature.

An application form must be submitted to the school at least one working day before the due date of the assessment.

Extensions can be approved for a maximum of one week (seven calendar days) past the due date for an assessment. (Where students need an extension exceeding one week they must instead apply for special consideration.)

 

Special consideration:

Special consideration is available for unexpected circumstances outside students’ control. These include but are not limited to: unexpected short-term ill health, and unavoidable family, work, cultural or religious commitments.

An application for special consideration is made in advance of an assessment wherever possible but will normally be accepted within five working days after the assessment date

For more information, see the Special Consideration page of the RMIT website.

 

Adjustments to Assessment:

RMIT provides several adjustments to assessment for students experiencing ongoing or long-term circumstances. Find the right one for your circumstances here.

 

Changes to the Assessment Scheme

Where a change to assessment approved by the Dean/head of school changes an assessment due date, students will be given at least five working days’ notice of the new due date.

 

Feedback

You can expect to receive marks and feedback on in-course assessment work in time to improve your performance in related assessment tasks later in the course.

 

Academic Integrity and Misconduct

Students demonstrate academic integrity in their assessment practices by:

  • engaging with assessment activities in an honest way;
  • providing accountability for the authorship and originality of work submitted;
  • acknowledging the work of others and the re-use of original work.

Academic misconduct is addressed in accordance with the Student conduct policy

Assessment involving research with human participants, their information or their tissue, or animal subjects is carried out in accordance with the Staff ethics and integrity policy.

For further information see the Academic Integrity website.

 

Review and Appeal

A student may request a review of an assessment result or appeal a final course grade in accordance with the Conduct of assessment and appeals section of the Assessment Processes.

 

Grade Criteria

You must demonstrate that you have all the required skills/knowledge/elements in the unit of competency you are studying.

The following grades are available for this course.

Vocational education grades:

CA - Competency Achieved

NYC - Not Yet Competent

DNS - Did Not Submit for assessment

Course Overview: Access Course Overview