LAW5153

Advanced taxation law 506

(LAW)

Associate Professor John Glover

6 credit points + Three 1-hour lectures per week + Second semester + Clayton + Prerequisite: LAW5152 + Prohibition: LAW5152 in same semester

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.

Assessment: Unseen open-book examination (3.5 hours): 100% or optional written assignment (4000 words): 50% and unseen open-book examination (2.5 hours): 50%