Tax of Business and Investment Income A (LAWS6840)

UNIT OF STUDY

This unit, along with LAWS6841 Taxation of Business and Investment Income B, is designed to provide an advanced study of the tax treatment of various important business transactions. It provides a detailed examination of the income tax and capital gains treatment of selected complex commercial transactions and their impact on the tax base. The goal of the unit is to develop an understanding of the policies, detailed rules and current practical problems involved in this area of taxation, through the analysis of a number of specific problems discussed in each seminar. Because of continual change to the taxation system, recent legislative amendments and judicial decisions will be examined in detail where applicable. The unit will cover the following topics: core income and expense rules and operational concepts underlying the income tax system; treatment of realised business income and the differentiation of capital gains; treatment of business expenses and the differentiation of expenses recoverable under depreciation, CGT or not at all; issues in the treatment of trading stock; issues in the tax treatment of the costs (and revenues) associated with business equipment and intangibles. This unit can be taken alone or in conjunction with LAWS6841 Taxation of Business and Investment Income B.

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Further unit of study information

Classes

S1 (Law School): 1x2-hr lecture/week, S103 and S7 (Taxation Training Program)

Assessment

class work (30%) and 2hr exam (70%)

Faculty/department permission required?

No

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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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