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  3. Tax of Business and Investment Income

Tax of Business and Investment Income (LAWS70002)

Graduate coursework level 7Points: 12.5On Campus (Parkville)

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Year of offer2019
Subject levelGraduate coursework Level 7
Subject codeLAWS70002
Availability(Quotas apply)
Semester 1
FeesSubject EFTSL, Level, Discipline & Census Date

This core tax subject is designed to explore in detail the fundamental principles of income tax, fringe benefits tax and capital gains tax in relation to business and investment. It will provide the requisite skills and knowledge to identify and better deal with income tax problems that arise in practice and in other tax subjects. The lecturers are leading practitioners or academics with extensive experience in the field.

Principal topics include:

  • The structure of the Australian income tax system
  • The structure of the legislation, interaction mechanisms and derivation
  • Multi-step transactions
  • Deferred payments
  • Expense characterisation and calculation of cost
  • Valuation and conditions of employment
  • Reimbursements and apportionment of deductions
  • Capital gains tax: dissecting receipts and part disposals
  • Deemed disposals
  • Capital allowances and cost-base write-down
  • Creation of liabilities
  • Reimbursement and recovery of expenses.

Intended learning outcomes

A student who has successfully completed this subject will:

  • Have an advanced and integrated understanding of the core rules of the Australian taxation system, with a focus upon the federal income tax and fringe benefits tax
  • Be able to critically examine, analyse, interpret and assess the effectiveness of these legal rules and the underlying structural, institutional and policy influences
  • Have a sophisticated appreciation of tax system design principles, and in particular the application of those principles to the taxation of income
  • Be an engaged participant in debate regarding emerging and contemporary issues in the field
  • Have the cognitive and technical skills to generate critical and creative ideas relating to taxation of business and investment income
  • Have the communication skills to clearly articulate and convey complex information regarding the Australian income tax rules to relevant specialist and non-specialist audiences
  • Be able demonstrate autonomy, expert judgment and responsibility as a practitioner and learner in the field of income taxation.

Last updated: 11 November 2018