LA4023 - Taxation Law

The constitutional division of taxing powers and the constraints on the Commonwealths power to tax; the operation and administration of Australias Income Tax system.

Learning Outcomes

• calculate the taxation liability of those who derive assessable income as individuals; through partnerships and trusts; and either as or through companies;
• describe the collection mechanisms used by the Australian Taxation Office;
• describe the legal basis for the exercise of the Commonwealths taxation power;
• explain the major anti-avoidance provisions of the Income Tax Assessment Act;
• calculate the taxation consequences of: capital gains and losses; receipt of superannuation and employment and other termination payments; and primary production income;
• identify those receipts which form part of taxable income or which are taxable as fringe benefits;
• identify those outgoings which are deductable for income taxation purposes.

Subject Assessment

• Written > Examination (centrally administered) - (50%) - Individual
• Written > Test/Quiz 1 - (25%) - Individual
• Written > Test/Quiz 2 - (25%) - Individual.

Note: 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.