Australian Income Tax System 732734

A student who has successfully completed this subject should have:

A solid knowledge of the core tax law principles in the Australian tax system, with a focus on Australia’s most important tax: the federal income tax
A good understanding of the administration of Australia’s tax system, including how a taxpayer engages in the income tax assessment, collection, rulings and appeals process
A good general understanding of how tax laws are made, federal/state tax issues and principles of tax policy
The ability to locate tax law sources and research a tax law issue.

This subject will cover the following substantive tax law topics:

Taxation in Australia’s federal system; overview of federal and state taxes; constitutional issues; how tax laws are made; sources of tax law; tax rates
The Australian income tax base: Calculation of taxable income, including definition of income from services, property and business; capital gains; allowable deductions; treatment of business assets, including trading stock and depreciating assets
Overview of income taxation of partnerships and companies as business entities; tax treatment of companies and shareholders, including contributions to capital; distributions; dealings in shares; corporate acquisitions and company losses
Tax avoidance and evasion; general anti-avoidance rule
Tax practice, including the role of the Commissioner of Taxation and the Australian Taxation Office; assessments, returns and payment of tax; rulings; and appeals.

Melbourne Law School The Melbourne Law Masters