BTW3221 - Taxation law and practice

Leader: Mr Daniel Khoury (Sem 1), Mr Jonathan Teoh (Sem 2)

Offered

Berwick First semester 2008 (Day)
Gippsland First semester 2008 (Day)
Gippsland First semester 2008 (Off-campus)
Hong Kong First semester 2008 (Off-campus)
Singapore First semester 2008 (Off-campus)
Peninsula Second semester 2008 (Day)

Synopsis

This unit provides an introduction to Australian income tax law and practice. Topics include: Australian tax jurisdictional issues. Assessable income from personal exertion, property and business. Capital gains tax and fringe benefits tax. Exempt income. Deductions, both general and specific. Accounting for trading stock. Taxation of partnership, company and trust income. GST. Tax avoidance and evasion.

Objectives

The learning objectives of this unit are to:

• describe the constitutional and administrative framework in which the federal taxation system operates;
• describe fundamental tax concepts, such as the concepts of income, capital, deductible expenses, residence of the taxpayer, source of income and derivation of income;
• critically analyse the fundamental distinctions between
  1. receipts of income and capital and
  2. deductible and non-deductible outgoings;
• describe the special treatment given to different types of taxpayers, such as companies, trusts, partnerships and non-residents;
• snalyse (and apply) legislative provisions and court decisions relating to taxation matters.

Assessment

Within semester assessment: 30%
Examination (open book 3 hours): 70%

Contact hours

2-hour lecture and 1-hour tutorial per week

Prerequisites

BTW1200