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Unit of Study

Australian Taxation System
UoS Code CLAW3201
Credit points 6
Offered Semester 1 and Semester 2
Prerequisites CLAW2201 or CLAW2001
Corequisites
Prohibitions CLAW3001
Assumed Knowledge
Additional Information
Lectures Two hours of lectures and a one hour tutorial per week
Assessment Tutorial assessment (10%), tutorial participation (10%), mid semester test (15%), case analysis (15%), and final exam (50%)
Description This unit is an introduction to Australia's taxation law. It commences with an overview of the Australian tax system, discusses contemporary tax issues and then deals with specific topics, including: the basis of liability to Australian income tax, concepts of residence and source of income, concepts of ordinary and statutory income (including capital gains tax), tax accounting, taxation of fringe benefits, and allowable deductions. It concludes with a study of the general anti-avoidance sections. The taxation of companies, partnerships and trusts, and international taxation are studied in depth in CLAW3202 which, together with this unit, is a solid basis to prepare students for an important aspect of professional accounting practice.