Penalties and prosecutions
Mr Patrick Cussen
6 points * 3 hours per week * Second semester * Caulfield, Taxation offices, In-house
Objectives On the completion of this subject a student should be able to identify whether any of the anti-avoidance provisions in the income tax legislation apply to a transaction and apply those provisions to the transaction.
Synopsis The concepts of tax avoidance and tax evasion; judicial attitues to tax avoidance; the doctrines of `sham' and `form vs substance'; the general anti-avoidance provisions (s.260 and Part 1VA); specific anti-avoidance provisions directed to schemes involving companies, trusts, non-arms length dealings; the exploitation of the deduction provisions and other miscellaneous schemes.
Assessment Either assignment (5000 words): 50% * Final examination (open-book 3 hours): 50% or Final examination (3 hours): 100%
Prescribed texts:
Barkoczy S Australian tax casebook CCH, 1994
Australian income tax legislation CCH, 1995
Lehmann G and Coleman C Taxation law in Australia 3rd edn, Butterworths, 1994