Authorised by Academic Registrar, April 1996
Objectives On the completion of this subject students should be able to identify and analyse the taxation issues which arise in relation to companies and shareholders, trusts and partnerships.
Synopsis Taxation of companies and shareholders; the taxation of dividends and bonus shares; the imputation system; liquidators' distributions; company losses. Taxation of trusts; introduction to the law of trusts; taxation of trustees and beneficiaries; taxation of minors; anti-avoidance provisions. Taxation of partnerships; introduction to the law of partnerships; taxation of partners; taxation consequences on reorganising partnerships; treatment of work-in-progress; Everett assignments; joint ventures; partnership loans; salaries and other distributions.
Assessment Either assignment (5000 words): 50% + Examination (3 hours, open-book): 50% + or + Examination (3 hours): 100%