James Cook University Subject Handbook - 2000

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CO3513:04

Taxation 1

Townsville, Cairns

Prerequisites: CO1501 or (LA1006 LA1007)
Inadmissable Subject Combination: LA4001 LA4023

26 lectures, 24 tutorials. First semester.

Staff: Assoc. Professor S Graw (Townsville campus); Dr J Dabner (Cairns campus).

The constitutional division of taxing powers and the constraints on the Commonwealth’s power to tax; the operation and administration of Australia’s Income Tax system.

Learning Objectives:

  1. describe the legal basis for the exercise of the Commonwealth’s taxation power;
  2. identify those receipts which form part of taxable income;
  3. identify those outgoings which are deductible for income taxation purposes;
  4. calculate the taxation liability of those who derive assessable income as individuals; through partnerships and trusts; and either as or through companies.
  5. calculate the taxation consequences of: capital gains and losses; eligible termination payments; and primary production income.
  6. describe the collection mechanisms used by the Australian Taxation Office;
  7. explain the major anti-avoidance provisions of the Income Tax Assessment Act.

Assessment by on-course tests (20%); final examination (80%).


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