BTC9100

Income tax law

Mr Grant Richardson

One 3-hour session per week · First semester · Clayton

Objectives On completion of this subject the student should be able to understand the taxation concept of income, recognise the major income and deductions 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 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; partnerships and trusts; administrative provisions including objections, appeals and self-assessment, and tax avoidance.

Assessment Written: 20% · Examination (3 hours): 80%

Prescribed texts

Barkoczy S Australian tax casebook CCH, latest edn
Barkoczy S, Nethercott L J and Morabito V Core tax legislation and study guide CCH, latest edn
Nethercott L J and Shaw G L Australian taxation study manual CCH, latest edn
Woellner R H, Vella T J, Burns L and Barkoczy S Australian taxation law CCH, latest edn

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