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ACCG3020: Tax in Practice 
Comprehensive Revision Guide and Course Notes 2025 
 
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Macquarie University - ACCG3020: Tax in Practice

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ACADEMIC YEAR 2024 - 2025

University	Macquarie University
Unit Code	ACCG3020
Credit Points	10
Unit Name	Tax in Practice
Notes Title	Comprehensive Revision Guide and Course Notes
Page Length	142

ACCG3020: Tax in Practice (Macquarie University) - Comprehensive Revision Guide and Course Notes 2025 is an invaluable resource for self‐study throughout the unit, from the very first day of classes to your final review. It guides you through new material with chapters that explain each topic in clear, accessible language. You do not need to be an expert; a basic understanding and the ability to quickly recall key points are all that is required. Use these notes as a reference to deepen your understanding of the topics and enhance your performance in the unit.

This unit introduces students to the tax framework operating in Australia. It looks at the regulatory environment and the impact of the conceptual framework on key areas of taxation including income tax; goods and services tax; and fringe benefits tax. After completing this unit, students will be able to recognise, describe and analyse taxation issues and apply tax concepts to problems encountered in a contemporary setting.

Main topics to be covered:

The Australian taxation system and tax formula
Residence and source
General principles of income
Income from personal services and employment
Income from business
Income from property
Principles of compensation
Capital gains tax
Tax accounting
General deductions
Specific deductions
Trading stock
Capital allowances
Partners and partnership
Trust and beneficiaries
Taxation of superannuation
Companies and shareholders
Offsets
Fringe benefits tax
Goods and services tax
Tax administration
Tax avoidance and evasion

Prerequisites: (20cp at 2000 level or above including ACCG2051) or 30cp in LAW units at 2000 level.

UNIT CODE	UNIT NAME
ACCG1000	Accounting for Decision Making
ACCG1001	Accounting and Governance
ACCG2000	Cost Analysis and Managerial Decision Making
ACCG2024	Financial Accounting and Reporting Analysis
ACCG2051	Governance, Business and Corporations Law
ACCG3008	Business and Risk Advisory
ACCG3020	Tax in Practice
ACST1001	Finance Fundamentals
AFIN1002	Corporate Finance and Capital Markets
AFIN2050	Investments
AFIN3029	Derivative Instruments
AFIN3052	Applied Portfolio Management
AFIN3053	Advanced Corporate Finance
ECON1020	Economics and Business Strategy
ECON2003	Microeconomic Analysis and Applications
ECON2004	Macroeconomic Analysis and Applications
ECON2041	Introductory Econometrics
MGMT1002	Managing for Impact
MKTG1001	Marketing and Value Creation
STAT1103	Introduction to Psychological Design and Statistics
STAT1250	Business Statistics and Insights
STAT1371	Statistical Data Analysis

Macquarie University - ACCG3020: Tax in Practice

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