Australian Income Tax (LAWS5112)

UNIT OF STUDY

This unit provides an introduction to the Australian federal income tax system (including capital gains tax and fringe benefits tax). It introduces both the operation of the tax laws and the underlying principles which those laws seek to implement, as well as the important issues in tax policy. Topics covered include the concept and various categories of income, capital gains tax, fringe benefits tax, allowable 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 serves as an introduction to the Australian income tax system and is a prerequisite for Advanced Taxation Law.

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Further unit of study information

Classes

2x2-hr seminars/week for 10 weeks

Assessment

2hr optional mid-semester quiz (30%) and 2hr final exam (70%)

Faculty/department permission required?

No

Unit of study rules

Prohibitions

LAWS3047, LAWS3412

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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.

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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.

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