Goods and Services Tax Principles B (LAWS6828)

UNIT OF STUDY

The object of this unit is to broaden participants' existing knowledge of the Australian Goods and Services Tax, gained from studying LAWS6214 Goods and Services Tax Principles A or from extensive experience in practice. The unit will examine the interpretation, operation, and administration of aspects of GST that are complex in theory and/or in practical application. A detailed analysis of the law will take into account the policy objectives of the law and will be illustrated by reference to a range of commercial transactions, focusing on problems encountered in practice. The following aspects of Australian GST are covered: entity and enterprise issues (the treatment of partnerships, trusts, and non-profit bodies; the special rules relating to GST groups, GST branches, and joint ventures; supplies of going concerns); the decreasing adjustment model for the taxation of insurance (Division 78); financial supplies (defining the boundaries of the input taxation; reduced credit acquisitions; related issues); GST and real property (taxable, input taxed, and GST-free supplies of real property; input taxed sales of residential premises and the exception for new residential premises; the margin scheme; supplies in return for development rights; real property and going concerns; input taxed residential rent, taxable commercial accommodation, and the treatment of long term occupation of commercial residential premises). Coverage in any year may vary to take account of current issues, amendments to the law, and any relevant government consultations. Other issues that may be covered include: incapacitated entities; pre-incorporation expenses and amalgamations; current topical issues and/or recent case law.

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Further unit of study information

Classes

1x2-hr lecture/week

Assessment

assignment (35%) and 2hr open book exam (65%). A research essay may be undertaken in lieu of the exam subject to permission from the Unit Coordinator.

Faculty/department permission required?

No

Unit of study rules

Prerequisites and assumed knowledge

LAWS6214 GST Principles A. With permission of the Tax Program Coordinator, students with a good working knowledge of GST or VAT from previous study or practical experience may be permitted to enrol.

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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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