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Tax of Business and Investment Income (LAWS70002)
Graduate coursework level 7Points: 12.5Online
Please refer to the return to campus page for more information on these delivery modes and students who can enrol in each mode based on their location.
About this subject
Contact information
Semester 1 (Extended)
Lecturers
Michelle Herring, Coordinator
Tim Neilson
Email: law-masters@unimelb.edu.au
Phone: +61 3 8344 6190
Website: law.unimelb.edu.au
October
Email: law-masters@unimelb.edu.au
Phone: +61 3 8344 6190
Website: law.unimelb.edu.au
Overview
| Availability(Quotas apply) | Semester 1 (Extended) - Online October - Online |
|---|---|
| Fees | Look up fees |
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: 3 November 2022
Eligibility and requirements
Prerequisites
None
Corequisites
None
Non-allowed subjects
None
Recommended background knowledge
Applicants without legal qualifications should note that subjects are offered in the discipline of law at an advanced graduate level. While every effort will be made to meet the needs of students trained in other fields, concessions will not be made in the general level of instruction or assessment. Most subjects assume the knowledge usually acquired in a degree in law (LLB, JD or equivalent). Applicants should note that admission to some subjects in the Melbourne Law Masters will be dependent upon the individual applicant’s educational background and professional experience.
Inherent requirements (core participation requirements)
The University of Melbourne is committed to providing students with reasonable adjustments to assessment and participation under the Disability Standards for Education (2005), and the Assessment and Results Policy (MPF1326). Students are expected to meet the core participation requirements for their course. These can be viewed under Entry and Participation Requirements for the course outlines in the Handbook.
Further details on how to seek academic adjustments can be found on the Student Equity and Disability Support website: http://services.unimelb.edu.au/student-equity/home
Last updated: 3 November 2022
Assessment
October
| Description | Timing | Percentage |
|---|---|---|
Class Participation | Throughout the teaching period | 10% |
Take-home examination
| 26 - 29 November | 90% |
| Hurdle requirement: A minimum of 75% attendance. Note: the attendance hurdle does not apply when the subject is delivered online. | Throughout the teaching period | N/A |
Semester 1 (Extended)
| Description | Timing | Percentage |
|---|---|---|
Assignment
| Due on various dates according to topic allocated to student | 30% |
Take-home examination
| 25 - 28 June | 70% |
| Hurdle requirement: A minimum of 75% attendance. Note: the attendance hurdle does not apply when the subject is delivered online. | Throughout the teaching period | N/A |
Last updated: 3 November 2022
Quotas apply to this subject
Dates & times
- Semester 1 (Extended) - Online
Coordinator Michelle Herring Mode of delivery Online Contact hours 24 Total time commitment 150 hours Teaching period 1 March 2021 to 30 May 2021 Last self-enrol date 12 March 2021 Census date 31 March 2021 Last date to withdraw without fail 7 May 2021 Assessment period ends 28 June 2021 Semester 1 (Extended) contact information
Lecturers
Michelle Herring, Coordinator
Tim NeilsonEmail: law-masters@unimelb.edu.au
Phone: +61 3 8344 6190
Website: law.unimelb.edu.au - October - Online
Coordinator Miranda Stewart Mode of delivery Online Contact hours 24-34 hours Total time commitment 150 hours Pre teaching start date 15 September 2021 Pre teaching requirements Please refer to the Reading Guide on the LMS subject page for confirmation of which resources need to be read and what other preparation is required before the teaching period commences. Teaching period 13 October 2021 to 19 October 2021 Last self-enrol date 20 September 2021 Census date 14 October 2021 Last date to withdraw without fail 29 October 2021 Assessment period ends 29 November 2021 October contact information
Email: law-masters@unimelb.edu.au
Phone: +61 3 8344 6190
Website: law.unimelb.edu.au
Additional delivery details
This subject has a quota of 30 students per offering.
Enrolment is on a 'first in' basis. Waitlists are maintained for subjects that are fully subscribed.
Students should note priority of waitlisted places in subjects will be given as follows:
- To currently enrolled Graduate Diploma and Masters students with a satisfactory record in their degree
- To other students enrolling on a single subject basis, eg Community Access Program (CAP) students, cross-institutional study and cross-faculty study.
Please refer to the Melbourne Law Masters website for further information about the management of subject quotas and waitlists.
Melbourne Law School may reserve places in a subject for incoming international cohorts or where a subject is core to a specialisation with limited alternate options.
Last updated: 3 November 2022
Further information
- Texts
Prescribed texts
Specialist materials will be made available via the LMS in the pre-teaching period.
- Related Handbook entries
This subject contributes to the following:
Type Name Course Graduate Diploma in Tax Course Master of Laws Course Master of Commercial Law Course Master of Tax Course Graduate Diploma in Legal Studies - Links to additional information
- Available through the Community Access Program
About the Community Access Program (CAP)
This subject is available through the Community Access Program (also called Single Subject Studies) which allows you to enrol in single subjects offered by the University of Melbourne, without the commitment required to complete a whole degree.
Please note Single Subject Studies via Community Access Program is not available to student visa holders or applicants
Entry requirements including prerequisites may apply. Please refer to the CAP applications page for further information.
Additional information for this subject
If required, please contact law-admissions@unimelb.edu.au for subject coordinator approval.
- Available to Study Abroad and/or Study Exchange Students
This subject is available to students studying at the University from eligible overseas institutions on exchange and study abroad. Students are required to satisfy any listed requirements, such as pre- and co-requisites, for enrolment in the subject.
Last updated: 3 November 2022