BSQA606 – Taxation
Module code
BSQA606
Module title
Taxation
Prescription
Students will apply knowledge of taxation rules to New Zealand taxable entities in a range of situations.
Programmes
- BS8906
NZQA Level
Level 6
NZQA Credits
20
Delivery method
- Web-Enhanced
Learning hours
- Directed hours
- 64
- Self directed hours
- 136
- Total learning hours
- 200
Resources required
- Learning Outcomes
- Learning outcome one
Students will recognise and calculate income.
Key elements:
a) Derivation of income:
capital and/or revenue receipts
timing excluding financial arrangements and the accrual regime
Learning outcome three
Students will apply the rules associated with the calculation and payment of taxes.
Key elements:
a) Employee and independent contractor.
b) Taxes including due dates:
Provisional tax
Terminal tax
PAYE including ESCT
Schedular payments
Resident Withholding Tax (RWT).
c) Use of money interest and penalties (calculation not required).
Learning outcome four
Students will summarise features of Inland Revenue administered schemes, calculate tax credits for individuals, and prepare the IR3 return.
Key elements:
a) Schemes:
family assistance
kiwisaver
students loans.
b) Tax credits:
IR526 tax credits
IETC.
Learning outcome five
Students will apply the taxation rules for partnerships and close companies and prepare the relevant Inland Revenue returns.
Key elements:
a) Partnerships
b) Dividends (including RWT)
c) Qualifying companies
d) Look-Through Companies (LTC)
e) Inland Revenue return completion:
IR4 return including a simple imputation credit account
IR7 return.
Learning outcome six
Students will apply the Goods and Service Tax (GST) rules and prepare the GST return.
Key elements:
a) Obligations of GST registered persons.
b) GST return, incorporating:
supplies
GST adjustments.
Learning outcome seven
Students will apply the Fringe Benefit Tax (FBT) rules and calculate FBT payable.
Key elements:
a) Non-cash benefits including motor vehicle benefit.
b) Taxable value of benefit.
c) Calculate FBT payable. - Content
- Students will apply knowledge of taxation rules to New Zealand taxable entities in a range of situations.
