Australian Income Tax (LAWS5112)

UNIT OF STUDY

This unit introduces the Australian income tax system by exploring the operation of the income tax statutes, the underlying principles which those laws seek to implement, and fundamental issues in tax policy. Topics covered include the concept and categories of income, capital gains, fringe benefits, deductions and the treatment of capital expenditure, basic tax accounting principles, and legislative responses to tax avoidance. The unit also introduces the key concepts used to evaluate tax policy, including welfare economics, thereby providing students with a basic understanding of why taxation is of such fundamental concern in modern democratic societies. This unit is a prerequisite for Advanced Taxation Law.

Our courses that offer this unit of study

Further unit of study information

Classes

2x2-hr seminars/week for 10 weeks

Assessment

Either [2hr mid-semester quiz (30%) and 2hr final exam (70%)] or [2 hr final exam (100%)]

Faculty/department permission required?

No

Unit of study rules

Prohibitions

LAWS3047, LAWS3412

Study this unit outside a degree

Non-award/non-degree study

If you wish to undertake one or more units of study (subjects) for your own interest but not towards a degree, you may enrol in single units as a non-award student.

Cross-institutional study

If you are from another Australian tertiary institution you may be permitted to underake cross-institutional study in one or more units of study at the University of Sydney.