ACCT90016

Taxation for Business

Decision Making

Week 12 - Part B

ACCT90016 Exam preparation session

 Agenda for today

1. Zoom ID verified and Gradescope

2. Exam structure & instructions
3. Exam consultations – options & protocols
4. Exam preparation & tips
5. 3 sample exam questions - answers with comments.
6. Selected Qs from past exam Paper 1 and Paper 2.
• Some questions will be transferred to the
‘Practice run’ in Gradescope.
 ACCT90016 Zoom ID verified exam

• Schedule on the day of exam :

Ø 1 hour before your exam – prepare your workspace to
comply.
Ø Join your Zoom room 15 minutes prior to the exam start
time. Any student not ID verified will not be allowed to
sit the exam, or may be required to sit the special exam
later on.
Ø Carefully read exam structure guide and instructions. This
will be provided before the exam)
Ø Reading time: 30 minutes
ü You may use the reading time to start making and
typing your notes or your answers in Gradescope.
 ACCT90016 Zoom ID verified exam

• Zoom ID verified exam :

• Refer to instructions posted on LMS announcement on
23 May 2023 titled “ Final Exam Clarification”
• Students will also have received an email from the
central Exams team regarding the Zoom ID-verified
format

Check the exams websites. Links below:

https://students.unimelb.edu.au/your-course/manage-your-
course/exams-assessments-and-results/exams

For any questions you have, the best mode is submitting an

enquiry, which will find its way to FBE office:
https://students.unimelb.edu.au/student-support/advice-and-
help/stop-1
Access Gradescope from Assignment tab
 Turnitin similarity reports

70

Scheduled completion time (SCT) : Late submission penalty

Reading & writing time: 3 hrs. 30 mins after SCT : 10% = 7 marks
 Turnitin similarity reports

Scheduled completion time (SCT) :

Reading & writing time: 3 hrs. 30 mins Late submission
penalty after SCT :
70 10% = 7 marks
Next.......

ACCT90016 Exam Structure Guide

(Sample document for Week 12 seminar)

Please refer to Word document of the same

filename provided
Next.......

Exam consultations

Options and protocols

 ACCT90016 Exam consultations
Options & protocols

1. Face-to Face & Zoom consultations (pre-book required)

• Look out for LMS announcement for consultation times.
• Students in Melbourne are encouraged to attend F2F to
free up Zoom time for overseas students.
• For those who can't attend any of the published times,
please email me to discuss options.

2. Post your Qs on LMS “Discussions” :

• New thread - “Exams preparation” for non tax technical Qs.
• Post your tax technical Qs under the relevant weekly topic.
• Check the existing threads before you post your Qs.
• Will only respond to Qs that involve simple answers.
• Students may be asked to book a Zoom consultation if
their Qs are best resolved “face to face”.
 ACCT90016 Exam consultations
Options & protocols

3. Email me – last option

• not preferred as students cannot share similar
questions;
• tends to lead to a series of email exchanges.
• Students may be asked to book a F2F or Zoom
consultation if their emailed Qs are best resolved “face
to face”.

4. Study Qs or past exam Qs – students’ attempted answers

• I will review your work only if draft written answers are
provided to me during a F2F consultation or, via Zoom
“share screen”. Please do not email them to me!
• Please ensure you select Qs that concern you most for
my review given time constraint.
Next.......

Exam preparation and tips

 ACCT90016 Exam preparation & tips

# 1 tip: PLAN YOUR TIME VERY WELL !

• Be very discipline with time management
• 30 mins reading time – read the exam structure guide and
instructions already provided to gain extra time.
• 3-hour (180 mins) exam worth 70 marks = approx. 2.5 mins
per mark.
• Reserve some buffer time to check before you hit submit.
• Allocate time for each question in accordance with the mark
weighting e.g. 6 marks = 15mins; 12 marks = 30mins.
• Do your very best to attempt every question.
o Students rarely achieve full/high marks for every
question attempted.
o Students who failed to do ALL the questions are more
likely to do poorly
 ACCT90016 Exam preparation & tips

# 2 tip: Make sure you answer the question

• Ensure that you read the question carefully
• Who are you advising? What are you advising on?.
• Deal with all tax implications required by the Question e.g.
• “tax implications” means ALL i.e. income tax (which
includes CGT, FBT, WHT, DTA,) and GST.
• “income tax implications or consequences means you
may ignore non-income taxes like GST.
• Don’t analyse what the question asks you to exclude as no
marks will be awarded.

Oh! make sure you check the facts carefully For e.g :
Residency, GST registration, private company, base
rate entity, business turnover, dates, income year, etc
 ACCT90016 Exam preparation& tips

# 3 tip: Quality not Quantity

• Focus on applying the relevant authorities to the relevant
facts and provide your reasoning. This is what the examiner
expects.
• Deal with both major issues and minor issues. Calculations
are always minor issues in the exam.
• Avoid reproducing cases, legislation and regurgitating facts.
• Avoid reproducing the lecture slides, tables and diagrammatic
representations e.g. Div.35 roadmap or ITC decision tree
• Conceptual questions involving case principles or tax policies
must be discussed, not regurgitated.
 ACCT90016 Exam preparation & tips

Other tips:
a) Stick to what’s covered in lectures, quizzes, study questions
& the required reading guide
b) Case referencing – If the case has been covered in the
lectures, no formal citation is required e.g. “Carden”,
“Spotless”, “Levene”. If not covered in lectures, full & proper
citation is required.
c) Legislative referencing – For general provisions e.g. s.6-5;
s.8-1, Div.35 would suffice. Specific provisions must be cited
with the relevant Tax Act etc. s.62 FBTAA, s.109 ITAA36,
s.25-100 ITAA97.
d) Revisit the slide pack on correct study techniques provided
in Week 1
 Next.......

Let’s look at a few past exam questions

 Next.......
Let’s look at a few past exam questions

• 3 sample exam Qs

• Past Exam Paper 1

o Q.1(a) – Company residency
o Q.2 – (Part A) Disposal of assets
o Q.3(a) – Loan interest expense
o Q.3(h) – Director’s fees
o Q.5 – Myer; Spotless

• Past Exam Paper 2

o Q.5(d) - Duke of Westminster, Part IVA anti- tax
avoidance
Congratulations for staying the course of
a challenging semester.

All the very best for your coming exams.

May your future be bright and filled
with challenges and fun .

“I hope you enjoyed the subject and if not,

I hope you will find it practical ....
.... one day”
Thank you