This unit introduces the essential elements of the Australian income tax system by exploring the operation of the tax legislation, the underlying principles which those laws seek to implement, and fundamental issues in tax policy. Topics covered include the concept and categories of income, the taxation of capital gains and fringe benefits, deductions and the treatment of capital expenditure, and the taxation of cross-border transactions. The unit also introduces the taxation of activities carried on through partnerships, trusts and companies. This unit is a prerequisite for Advanced Taxation Law..
2x2-hr seminars/week for 10 weeks (daytime stream), 1x3hr seminars/week for 13 weeks
Optional 2hr mid-semester quiz (30%) and 2hr final exam (70% or 100%) (daytime stream), compulsory 3 x online tests (30%) and 2 hr final exam (70%) (evening stream)
LAWS3047 or LAWS3412