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This core tax subject examines the law, policy and structural features of capital gains tax (CGT) in Australia and considers and applies CGT rules in a number of different business contexts. The subject also examines the operation of CGT in establishing, operating and disposing of a business, in relation to real estate transactions, litigation and the use of trusts and deceased estates.
Principal topics include:
- Structure of the capital gains tax system
- Capital gains tax problems in business structures and transactions
- Capital gains tax problems in conveyancing and real estate development
- Capital gains tax problems in compensation payouts
- Capital gains tax problems in trusts and estates.
Intended learning outcomes
A student who has successfully completed this subject will:
- Have an advanced and integrated understanding of the application of the Australian capital gains rules as they apply to a range of circumstances commonly encountered in professional practice
- Be able to critically examine, analyse, interpret and apply the Australia capital gains rules
- Have a sophisticated appreciation of tax system design principles as they apply to the taxation of capital income
- Be an engaged participant in debate regarding the application of tax system design principles as they apply to the taxation of capital income
- Have the cognitive and technical skills to independently examine, research and analyse the application of the Australian capital gains rules to taxpayer circumstances commonly encountered in professional practice
- Have the communication skills to clearly articulate and convey complex information regarding the Australian capital gains rules to relevant specialist and non-specialist audiences
- Be able to demonstrate autonomy, expert judgment and responsibility as a practitioner and learner in the field of capital gains taxation.
Last updated: 2 December 2019