Module Details

Module Code: ACCT7009
Title: Income Tax
Long Title: Income Tax
NFQ Level: Intermediate
Valid From: Semester 1 - 2024/25 ( September 2024 )
Duration: 1 Semester
Credits: 5
Field of Study: 3440 - Accounting, Auditing and Accountability
Module Delivered in: 2 programme(s)
Module Description: The aim of this module is to provide a student with a knowledge and understanding of the Income Tax System.
 
Learning Outcomes
On successful completion of this module the learner will be able to:
# Learning Outcome Description
LO1 Apply the general principles for the administration and computation of Income Tax.
LO2 Classify and correctly assess income tax under the appropriate tax head and schedule.
LO3 Prepare tax adjusted accounts and capital allowances computations.
LO4 Apply the appropiate reliefs, allowances and credits to calculate personal tax liabilities.
Dependencies
Module Recommendations

This is prior learning (or a practical skill) that is strongly recommended before enrolment in this module. You may enrol in this module if you have not acquired the recommended learning but you will have considerable difficulty in passing (i.e. achieving the learning outcomes of) the module. While the prior learning is expressed as named MTU module(s) it also allows for learning (in another module or modules) which is equivalent to the learning specified in the named module(s).
19442 ACCT7009 Income Tax
Incompatible Modules
These are modules which have learning outcomes that are too similar to the learning outcomes of this module. You may not earn additional credit for the same learning and therefore you may not enrol in this module if you have successfully completed any modules in the incompatible list.
No incompatible modules listed
Co-requisite Modules
No Co-requisite modules listed
Requirements

This is prior learning (or a practical skill) that is mandatory before enrolment in this module is allowed. You may not enrol on this module if you have not acquired the learning specified in this section.
No requirements listed
 
Indicative Content
Administration and Procedures
Explain the operation of the self assessment system including interest and late filing penalties.
Income Tax
Charge to income tax, residence and domicile, preparation of Income tax computations and returns, tax treatment of single, widowed, married, separated and divorced persons. Retirement annuity contracts including PRSAs and AVCs.
Scedules 1 to V
Determination of income assessable under each case. Rules of Commencement and Cessation. Adjusting accounting results for tax purposes. Badges of Trade.
Employment Income
Determination of assessable income, standard BIK rules and BIK exemptions, PAYE, PRSI and USC. Employed versus self employed, subcontractors, termination lump payments.
Schedule F
Income assessable, basis of assessment, dividend withholding tax.
Module Content & Assessment
Assessment Breakdown%
Coursework30.00%
End of Module Formal Examination70.00%

Assessments

Coursework
Assessment Type Short Answer Questions % of Total Mark 30
Timing Week 5 Learning Outcomes 3
Assessment Description
In Class Assessment
End of Module Formal Examination
Assessment Type Formal Exam % of Total Mark 70
Timing End-of-Semester Learning Outcomes 1,2,4
Assessment Description
End-of-Semester Final Examination
Reassessment Requirement
Repeat examination
Reassessment of this module will consist of a repeat examination. It is possible that there will also be a requirement to be reassessed in a coursework element.

The University reserves the right to alter the nature and timings of assessment

 

Module Workload

Workload: Full Time
Workload Type Contact Type Workload Description Frequency Average Weekly Learner Workload Hours
Lecture Contact Formal Lecture Every Week 4.00 4
Independent & Directed Learning (Non-contact) Non Contact Questions Every Week 3.00 3
Total Hours 7.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 4.00
Workload: Part Time
Workload Type Contact Type Workload Description Frequency Average Weekly Learner Workload Hours
Lecture Contact Formal Lecture Every Week 2.00 2
Independent & Directed Learning (Non-contact) Non Contact Questions Every Week 5.00 5
Total Hours 7.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 2.00
 
Module Resources
Recommended Book Resources
  • Paula Byrne. (2023), Irish Taxation, 2023. Griffith College, Ireland, p.274.
Supplementary Book Resources
  • Irish Tax Institute. (2023), Irish Taxation: Law and Practice, 21. [ISBN: 978-1-84260-646-9].
This module does not have any article/paper resources
Other Resources
 
Module Delivered in
Programme Code Programme Semester Delivery
CR_BACCT_8 Bachelor of Business (Honours) in Accounting 5 Mandatory
CR_BACCT_7 Bachelor of Business in Accounting 5 Mandatory