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LAW5153 - Advanced taxation law 506

6 points, SCA Band 3, 0.125 EFTSL

Undergraduate Faculty of Law

Leader(s): Semester Two: Stephen Barkoczy

Offered

Clayton Second semester 2009 (Day)

Synopsis

Principles of income tax, capital gains tax and deductions from assessable income with emphasis on characterisation of receipts, business income and the revenue/capital distinction. Entity taxation is explored in relation to the taxation of companies and applied to the taxation of trusts. The case for conduit taxation of entities is then explored, together with the existing regime for taxation of partnerships. Various topics will be treated from within the range of tax accounting, taxation of trading stock, the taxation of financial instruments. Legal approaches to the phenomenon of tax avoidance are examined and the varying experiences of comparable countries are compared.

Objectives

Upon completion of this unit students should have:

  1. an advanced knowledge of income tax law;
  2. a reflective conception of fundamental taxation law concepts:
  3. critical knowledge of the central concepts involved in the operation of the income tax system;
  4. a critical awareness of the current tax mix in Australia;
  5. an appreciation of the business contexts of taxation law;
  6. the ability to enter and contribute to current debate about the policy issues in taxation;
  7. an ability to evaluate new tax proposals critically;
  8. developed skills of statutory interpretation in the context of technical and complex legislation.

Assessment

Examination (3 hours writing time plus 10 minutes reading time): 100% OR Assignment (4000 words): 50%
Examination (2 hours writing time plus 10 minutes reading time): 50%

Contact hours

Three hours of lectures per week

Prerequisites

LAW1100 OR LAW1101 and LAW1102 or LAW1104; LAW5152

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