79017 Taxation Law
Warning: The information on this page is indicative. The subject outline for a
particular session, 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.
Subject handbook information prior to 2017 is available in the Archives.
Credit points: 6 cp
Result type: Grade and marks
There are course requisites for this subject. See access conditions.
Anti-requisite(s): 76212 Revenue Law
Description
This subject aims to develop students' conceptual and analytical skills and an appreciation of the Australian tax system. It provides a general analysis of the current tax system and consideration of the many changes it is presently undergoing. The course looks at the Income Tax Assessment Act 1936 and the Income Tax Assessment Act 1997, the Tax Law Reform Project and the New Tax System. Particular concepts to be considered include income and capital, assessable income, allowable deductions, capital gains tax, fringe benefits tax, goods and services tax, trusts, partnerships, tax accounting, tax planning and anti-avoidance provisions.
Subject learning objectives (SLOs)
Upon successful completion of this subject students should be able to:
| 1. | Demonstrate ability to determine the taxable income of taxpayers and correctly calculate the tax payable thereon |
|---|---|
| 2. | Critically analyse and appreciate the economic, social and legal issues arising from differing taxes. |
| 3. | Understand the differences between: allowable and non-allowable deductions, different capital gains events and the effect of rebates on taxable income. |
| 4. | Distinguish the impact of taxation on different forms of business structures. |
| 5. | Apply the Fringe Benefit Tax and calculate tax payable on different benefits |
| 6. | Understand the basic principles of the GST |
Course intended learning outcomes (CILOs)
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)
Teaching and learning strategies
Online learning and preparation in Week 0.
Online materials will include précis outling sources of law, research skills in accessing tax materials, jurisdictional issues such as residence and source and constitutional power to tax. Students will be expected to complete online quiz prior to first lecture as a certificate of readiness for formal instruction.
Content (topics)
1. Introduction to the Taxation System
2. Calculation of Income Tax
3. Residence and Source
4. Assessable Income (Ordinary Income and Statutory Income)
5. Capital Gains Tax
6. Deductions (General and Specific)
7. Trading Stock
8. Tax Accounting
9. Small Business Entity System
10. Taxation of Partnerships
11. Taxation of Trusts
12. Taxation of Companies and Shareholders
13. Taxation Administration
14. Tax Planning and Anti-Avoidance
15. Fringe Benefits Tax
16. Goods and Services Tax
Assessment
Assessment task 1: Quiz A
| Objective(s): | This task contributes specifically to the development of the following graduate attributes: 1.0 and 3.0 |
|---|---|
| Weight: | 20% |
| Length: | 90 minutes |
Assessment task 2: Quiz B
| Objective(s): | This task addresses the following subject learning objectives: 1, 2, 4, 5 and 6 This task contributes specifically to the development of the following graduate attributes: 1.0 |
|---|---|
| Weight: | 30% |
| Length: | 90 Minutes |
Assessment task 3: Final Examination
| Objective(s): | This task contributes specifically to the development of the following graduate attributes: 1.0 |
|---|---|
| Weight: | 50% |
| Length: | 2 hours (including reading time) |
Required texts
- Australian Taxation Law 2017, by Woellner & ors, Oxford University Press
- Taxation Law & Practice 2016, Cooper, Taggart & Cliff 3rd Edn, Tekniks Publications
Recommended texts
ALTERNATIVE TEXTS
- Australian Tax 2016, Paul Kenny, Lexis Nexis
- LexisNexis Concise Taxation Legislation 2017 Selected by Paul Kenny, Lexis Nexis
- Foundations of Taxation Law 2017, Barkoczy, CCH
Legislation:
Some students might prefer to have the full printed set of Tax Legislation instead of the edited version mentioned in the Prescribed Text Box above. These students might prefer:
- Australian Income Tax Legislation 2017 CCH,
OR
- Australian Tax Legislation 2017 Thomson Reuter
References
- Australian Tax Handbook 2017, Thomson Reuters
- Australian Master Tax Guide 2017, 55th Edition CCH
- Principles of Taxation Law 2017, Sadiq, Coleman et ors, Thomson Reuters, General Edition
- Tax Questions and Answers 2017, Fisher, Hodgson et ors, Thomson Reuters
Case Books:
- Australian Tax Analysis: Cases, Commentary, Commercial Applications and Questions, Coleman, Hart, et al, latest Edition, Thomson Reuters
- Australian Tax Casebook, Barkoczy, Latest Edition, CCH
- Australian Taxation Law Cases, Krever, Latest Edition, Thomson Reuters
Study Guides:
- Master Tax Examples, latest Edition CCH
- Successful Tax Study latest edition, Obst, and Hanegbi, Thomson ATP
- Australian Taxation Study Manual: Questions and Suggested Solutions, Nethercott, Richardson and Devos, latest edition CCH
GST:
- Australian GST Handbook latest edn, Hill,Thomson Reuter
- GST Legislation Plus latest edition, Richard Krever, Thomson Reuter
- Australian GST Legislation with Overview latest edition, CCH
- Australian Master GST Guide latest edition, Philip McCouat, CCH
OTHER:
- Australian Federal Tax Reporter, CCH, (Looseleaf Service)
- Financial Planning latest edition, Monahan and Perkins, LexisNexis
- FBT: A Practical Guide latest edition, CCH
- Australian FBT Handbook Koit, O’Flynn & Fitton,Thomson Reuter
- Capital Gains Tax, Wilson, Thomson ATP, (Looseleaf Service)
- Australian Superannuation Handbook, Jones, latest edition, Thomson Reuter
- Legal Research & Writing, Tjaden,Latest Edition, Federation Press
- LexisNexis Study Guide: Trusts, Barkehall Thomas & Vann,Latest Edition, LexisNexis
On Line Research
An important area of this subject involves the skill of finding appropriate legislation, tax rulings and cases. To assist you we will make available on UTSOnline a number of links to important sites. During lectures and tutorials, students will be informed where cases may be found. Students are also expected to use the library and the internet.
Internet-based Legal Resources
- www.ato.gov.au
This is probably the best site for our course, being the homepag of the Australian Tax Office. - www.austlii.edu.au
AustLII is a full-text Australian and World Case Law and Legislation Database jointly owned and operated by the faculties of law of UTS and UNSW. - www.brw.com.au
Business Review Weekly’s website. Online access to one of Australia’s best Business and Law magazines, including an excellent law section with access to BRW’s legal articles and law notes written in conjunction with Freehills. - www.lawportal.com.au
LawPortal is an Internet-based legal resources navigator offering access to AustLII, SCALE plus, daily Australia-wide court listings, as well as links to all major national newspapers. - http://scaleplus.law.gov.au
SCALEplus is the legal information retrieval service owned by the Australian Attorney General’s Department. - www.findlaw.com
American legal resource website. - www.law.com
American legal resource website.
Other resources
OTHER LEGAL RESOURCES:
UTS LIBRARY
The UTS Library has a wide range of services and resources that you will find useful, including law reports, law journals, textbooks, and access to online resources www.lib.uts.edu.au.
Relevant materials in this subject may also be available on Closed Reserve, which is a special borrowing service that allows you to use the material for two hours or overnight, to ensure the materials are available to many students. Materials on closed reserve are listed in the library catalogue by subject details and Subject Coordinator. Contact the Law Librarian on (02) 9514 3341 for further information or assistance.
