LAW5350 - Principles of taxation - 2019

The unit examines key aspects of the Commonwealth tax system. It introduces taxation theory and policy and the constitutional and administrative framework within which the federal tax system operates. The unit examines: goods and services tax, income tax and deductions, capital gains tax, corporate and shareholder taxation, and the taxation of superannuation contributions and investments. The unit focuses on the practical application of the taxation law to common commercial transactions.

At the successful completion of this unit students should be able to:

1. understand the fundamental policies and concepts that underpin the Australian federal taxation system;
2. understand the operation of a number of important taxation provisions and regimes;
3. calculate income tax, goods and services tax and other tax liabilities;
4. identify, research and synthesise legal and policy issues relating to taxation law;
5. articulate key concepts concerning the operation of the tax system and evaluate these concepts within a theoretical and practical framework;
6. appreciate the important role and impact of taxation law in structuring common commercial transactions;
7. engage in critical analysis and make reasoned and appropriate choices concerning alternative tax outcomes of common commercial transactions;
8. apply interpretive techniques to synthesize legal principles from judicial decisions and apply statutory interpretation principles to determine the meaning of complex taxation legislation;
9. exercise advanced and integrated professional judgment to evaluate practical considerations arising under the taxation law; and
10. communicate effectively and persuasively on aspects of taxation law.

1. Class participation involving contribution to class discussion and answering questions on topics covered: 10%
2. Letter of advice on the operation of the tax law to a commercial transaction or research paper on the implications of a recent judicial decision on taxation law (2,250 words): 30%
3. Take home examination: practical problem question(s) dealing with the implications of the tax law to a variety of commercial transactions and a research topic on a key tax case (4,500 words): 60%

24 contact hours per semester (either intensive, semi-intensive or semester long, depending on the Faculty resources, timetabling and requirements)