Income tax law
Associate Professor Les Nethercott
One 3-hour session per week * First semester * Clayton
Synopsis The objective of this subject is to provide an understanding of income tax law as it affects most entities including individuals, partnerships, trusts and companies. The subject will consider the following topics; the tax concept of assessable income including consideration of receipts in relation to employment and fringe benefits; capital gains tax, trading stock; the tax concept of allowable deductions including consideration of Section 51; substantiation; repairs; depreciation; other deductions and carry forward losses; dividends and company taxation; foreign tax credits; partnerships and trusts; administrative provisions and tax avoidance.
Assessment Written: 20% * Examination (3 hours): 80% * Series of tutorial problems
Prescribed texts
Income Tax Assessment Act
Nethercott L and Shaw G Australian taxation study manual 2nd edn, CCH, 1991
Woeller R and others Australian taxation law 4th edn, CCH