TBC3150

Australian income tax law

Mr Grant Richardson, Associate Professor Les Nethercott

6 points
* Two 1-hour lectures and one 1-hour tutorial per week
* First semester
* Clayton
* Prohibitions: Completion of a Faculty of Law subject in taxation

Objectives On completion of this subject the student should be able to understand the taxation concept of income; recognise the major income and education components comprising taxable income; identify the main taxable entities and understand how they are taxed; understand and apply the administrative aspects of law; demonstrate an awareness of current tax developments.

Synopsis This subject covers assessable income including capital gains and recent developments; allowable deductions including repairs, deductions and substantiation; taxation of companies and their shareholders; administrative provisions including objections, appeals and self-assessment; and anti-avoidance provisions

Assessment Two class assignments: 10%
* Written case study (12000 words): 10%
* Examination (3 hours): 90%

Prescribed texts

Australian Income Tax Assessment Act
Nethercott L and Shaw G Australian taxation study manual 7th edn, CCH, 1996