LA4023:03
Taxation Law
Townsville, Cairns
HECS Band 3
26 hours lectures, 13 hours tutorials. Semester 1.
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:
- describe the legal basis for the exercise of the Commonwealth’s taxation power;
- identify those receipts which form part of taxable income;
- identify those outgoings which are deductible for income taxation purposes;
- calculate the taxation liability of those who derive assessable income as individuals; through partnerships and trusts; and either as or through companies.
- calculate the taxation consequences of: capital gains and losses; eligible termination payments; and primary production income.
- describe the collection mechanisms used by the Australian Taxation Office;
- explain the major anti-avoidance provisions of the Income Tax Assessment Act.
Assessment by on-course tests (25%); final examination (75%).