This advanced unit examines the policy and practical issues that arise in Australia for the taxation of income derived through partnerships and trusts which are generally transparent for tax purposes, with a twofold focus: first for private business and investment; secondly for collective investment. The unit covers: problems and policies for taxing entities (partnerships and trusts contrasted with companies); classification of entities for tax purposes; taxation of partners and trust beneficiaries in a private business/high wealth context; taxation of collective investment vehicles mainly in the form of trusts and partnerships, including Attribution Managed Investment Trusts, Corporate Collective Investment Vehicles, Managed Investment Trusts, listed investment companies, public trading trusts, limited partnerships, venture capital, foreign hybrids, and investment manager regime.
Sep 18-20 and 23, 24 (9-3.30)
in-class assessment (30%) and 2hr exam (70%)
Academic Profile https://sydney.edu.au/law/about/our-people.html. The unit is also available on a Continuing Professional Development basis https://sydney.edu.au/law/cpd/
It is assumed that students undertaking this unit have an understanding of Australian income taxation law commensurate with that which would be obtained from completing undergraduate study in Australian taxation law or five years working with Australian tax law in a law or accounting practice in an industry role or in the Australian Taxation Office. For students who do not have such knowledge or work experience they first should undertake LAWS6825 Introduction to Australian Business Tax before enrolling in this unit.