Income tax law
Associate Professor Les Nethercott and Ms Margaret Webb
6 points * Two 1-hour lectures and one 1-hour tutorial per week * First semester * Clayton * Prohibitions: Completion of a Faculty of Law subject in taxation
Objectives On completion of this subject the student should be able to understand the taxation concept of income; recognise the major income and education components comprising taxable income; identify the main taxable entities and understand how they are taxed; understand and apply the administrative aspects of law; demonstrate an awareness of current tax developments.
Synopsis This subject covers assessable income including capital gains and recent developments; allowable deductions including repairs, deductions and substantiation; taxation of companies and their shareholders; administrative provisions including objections, appeals and self-assessment; and anti-avoidance provisions
Assessment Written (1000 words): 10% * Mid-semester test: 10% * Examination (3 hours): 80%
Prescribed texts
Australian Income Tax Assessment Act
Nethercott L and Shaw G Australian taxation study manual 4th edn, CCH, 1994