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76212 Revenue Law

Warning: The information on this page is indicative. The subject outline for a particular semester, location and mode of offering is the authoritative source of all information about the subject for that offering. Required texts, recommended texts and references in particular are likely to change. Students will be provided with a subject outline once they enrol in the subject.

UTS: Law
Credit points: 6 cp

Subject level:

Undergraduate and Postgraduate

Result type: Grade and marks

Requisite(s): ((70417 Corporate Law AND 70617 Administrative Law) OR 70327 Commercial Law)
These requisites may not apply to students in certain courses.
There are course requisites for this subject. See access conditions.
Anti-requisite(s): 79017 Taxation Law

Handbook description

In this subject students examine the legal principles that relate to revenue law in Australia. Topics covered include the structure and sources of tax law in Australia; tax policy and tax reform; income – concepts of income, income from labour, property and business, statutory extensions to the income base; deductions – general and specific deductions, substantiation; capital gains tax; fringe benefits tax; tax accounting; tax administration; tax avoidance and ethics.

Subject objectives

Upon successful completion of this subject students should be able to:

1. understand and distinguish between the concepts of income and capital;
2. understand when deductions may be claimed;
3. understand taxation principles applying to partnerships, trusts and companies;
4. demonstrate a basic understanding of fringe benefits tax and goods and services tax;
5. demonstrate a working knowledge of the tax administration system, and tax planning and anti-avoidance.

This subject also contributes specifically to the development of the following graduate attributes:

  • Legal Knowledge
    A coherent understanding of fundamental areas of legal knowledge including the Australian legal system, social justice, cultural and international contexts and the principles and values of ethical practice. (1.0)
  • Critical Analysis and Evaluation
    A capacity to think critically, strategically and creatively including an ability to identify and articulate legal issues, apply reasoning and research, engage in critical analysis and make reasoned choices. (3.0)
  • Communication and Collaboration
    Effective and appropriate communication skills including highly effective use of the English language, an ability to inform, analyse, report and persuade using an appropriate medium and message and an ability to respond appropriately. (5.0)

Teaching and learning strategies

Strategy 1: Provision of lectures to explain the content and outline the theoretical concepts
Strategy 2: Discussion and analysis of cases to develop and refine legal knowledge and understanding
Strategy 3: Discussion of current taxation issues to develop analytical skills in critiquing current developments
Strategy 4: Presentations based on research to develop teamwork and skills in analysing, interpreting and synthesising information


Subject Delivery
The weekly seminar will be a combination of lecture, case study, and subject presentation.

Content

  • Residence and source
  • Concepts of income and capital
  • Capital gains tax
  • Deductions
  • Tax accounting
  • Trading stock
  • Taxation of partnerships
  • Taxation of trusts
  • Taxation of companies and shareholders
  • Fringe benefits tax
  • Goods and services tax
  • Tax administration
  • Tax planning and anti-avoidance

Assessment

Assessment task 1: Class Participation

Intent: Tests legal analysis and interpretation to demonstrate understanding, and communication skills to explain application.
Objective(s):

This task addresses the following subject learning objectives:

4 and 5

This task contributes specifically to the development of the following graduate attributes:

3.0 and 5.0

Weight: 15
Length:

No written component for presentation on assigned research question.

Assessment task 2: Assignment/research paper

Intent: Tests application of knowledge and understanding of principles
Objective(s):

This task addresses the following subject learning objectives:

1, 2, 3, 4 and 5

This task contributes specifically to the development of the following graduate attributes:

1.0, 3.0 and 5.0

Weight: 25
Length: 2500 words

Assessment task 3: Final exam

Intent: Tests application of knowledge and understanding of principles
Objective(s):

This task addresses the following subject learning objectives:

4 and 5

This task contributes specifically to the development of the following graduate attributes:

1.0 and 3.0

Weight: 60

Required texts

M Kobetsky et al, Income Tax: Text, Materials and Essential Cases, Federation Press

Recommended texts

Fundamental Tax Legislation, Thomson; OR Core Tax Legislation and Study Guide, CCH, OR LexisNexus Concise Tax Legislation

Australian Tax Casebook, CCH OR Australian Taxation Law Cases, Thomson

References

R Woellner et al, Australian Taxation Law, CCH, 2014

Coleman et al, Australian Tax Analysis, Thomson

Australian Taxation Handbook, Thomson, 2014

Australian Master Tax Guide, CCH, 2014

P Kenny, Australian Taxation, Lexis Nexus Butterworths

R Fisher, H Hodgson, C Mortimer, Tax Questions and Answers 2014, Thomson

L Nethercott, G Richardson, K Devos, Australian Taxation Study Manual, CCH

Other resources

Websites: