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  3. Capital Gains Tax: Problems in Practice

Capital Gains Tax: Problems in Practice (LAWS70081)

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

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Overview

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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 private and business contexts. The subject examines the operation of CGT in detail in the context of the treatment of information and goodwill, earn-outs, the application of CGT to non-residents, 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 and its interaction with other tax provisions
  • Selected CGT Events and their key concepts
  • The CGT treatment of information and goodwill
  • The CGT treatment of earn-outs
  • The application of CGT to non-residents
  • CGT and business structures, restructuring, available rollovers and the small business CGT concessions
  • 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: 3 November 2022