Taxation Law

Course code LAWS5065Units 10Level 5000Faculty of Business and LawNewcastle Law School

This course deals with Australian income taxation law. Topics include constitutional power to levy taxes, income, allowable deductions, capital gains tax, with particular emphasis on tax in the context of borrowing money, property transactions, family law property settlement, wills and estates and compensation receipts.

Available in 2015

Callaghan CampusSemester 1
Previously offered in 2014
ObjectivesThe Taxation Law course provides an overview of the Australian income tax and related legislation. The first part of the course considers the general principles for determining the assessability of certain receipts (with particular emphasis on personal services income and different types of business and property income), along with statutory extensions of the ordinary income tax base, including the capital gains tax and the fringe benefits tax. The general principles for determining the deductibility of different items of expenditure are also considered, including certain statutory extensions. The focus of the course then moves to a consideration of the taxation treatment of different entities, and the basic tax rules applying to partnerships, trusts and companies (and their shareholders) are discussed. The last part of the course deals with the assessment, collection and recovery of income tax, the procedures for disputing a income tax assessment, and includes an introduction to the legislative rules dealing with tax avoidance. A brief overview of the goods and services tax is also provided.
Students will be able to explain, critically evaluate and apply the rules and principles outlined above to determine, at least in broad terms, the tax consequences flowing from particular factual situations, including those commonly encountered in practice.
ContentThe course provides an overview of the Australian income tax and related legislation.

Topics covered are as follows:

(a) Overview of the structure of the Australian taxation system and its underlying legal and policy framework, including constitutional considerations, concepts of income, residence and source;
(b) General principles of assessability, and statutory extensions thereof, including capital gains tax and the fringe benefits tax;
(c) General principles of deductibility, including certain statutory extensions;
(d) Introduction to the taxation of partnerships, trusts and companies (and their shareholders);
(e) Administrative aspects of taxation - assessment, collection and recovery of income tax, procedures for disputing a income tax assessment;
(f) Introduction to the legislative rules dealing with tax avoidance;
(g) Overview of the goods and services tax.
Replacing Course(s)NA
TransitionNA
Industrial Experience0
Assumed KnowledgeLAWS1001A, LAWS1001B, LAWS1002A, LAWS1002B, LAWS2003A, LAWS2003B, LAWS3004A, LAWS3004B
Modes of DeliveryInternal Mode
Teaching MethodsProblem Based Learning
Lecture
Tutorial
Assessment Items
ClassClass Participation
Essays / Written Assignments
Examination: Formal
Contact HoursTutorial: for 1 hour(s) per Week for Full Term
Lecture: for 2 hour(s) per Week for Full Term
Compulsory Components
Requisite by EnrolmentThis course is only available to students enrolled in the Bachelor of Laws and associated combined degree programs or the Bachelor of Laws (Honours) and associated combined degree programs.
Timetables2015 Course Timetables for LAWS5065