James Cook University Subject Handbook - 2024

CO5120 - Taxation Law

Only available for postgraduate students.

Subject Description

This subject is an introduction to Australian income tax law and practice. The constitutional and administrative framework within which the federal tax system operates will be examined. Australia's income tax law will be assessed as it relates to an individual, business and company in the context of taxation of income from trusts, taxation of partnerships and the taxation of companies and corporate distributions. Administration will also be examined.

Learning Outcomes

• explain and critique the legal basis for the exercise of the Commonwealths taxation power
• assess and calculate receipts which form part of taxable income for individuals and companies, net income for partnerships and trusts
• explain and calculate how fringe benefits; receipt of superannuation and termination payments are taxed
• consider and differentiate those outgoings which are deductible for income taxation purposes
• calculate the taxation consequences of capital gains and losses; and
• explain and justify the tax administration system in Australia

Subject Assessment

• Written > Examination (centrally administered) - (50%) - Individual
• Written > Test/Quiz 1 - (20%) - Individual
• Written > Case study analysis - (30%) - Individual

Note that minor variations might occur due to the continuous subject quality improvement process, and in case of minor variation(s) in assessment details, the Subject Outline represents the latest official information.

Inadmissible Subject Combinations:  CO5110

Availabilities