Authorised by Academic Registrar, April 1996
Objectives On completion of this subject students should, at an advanced level, in relation to a range of typical transactions, be able to identify and analyse the taxation issues which arise from such transactions under Part IIIA of the Income Tax Assessment Act 1936 (Cth); conduct research into, and give an informed view on the likely development of the law on, the taxation of capital gains.
Synopsis Topics include assets, acquisitions and disposals; calculation of next capital gains and losses; tax payable; application of capital gains tax to trust, companies, shareholders, partnerships, superannuation funds, deceased estates, lease transactions; international aspects of capital gains tax, exemptions, roll-over provision, avoidance of capital gains tax.
Assessment Research project (5000-7000 words): 50% + Examination (open-book 3 hours): 50%