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Semester 1 - Online
November - Dual-Delivery
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This core international tax subject is of central importance given Australia’s ever-growing role in the global economy. This subject covers the fundamental international income tax rules that apply where income or capital gains are derived in circumstances that have a connection with Australia. It considers Australia’s tax jurisdiction of residence and source, and relief from double taxation under domestic law and tax treaties. It also examines measures to prevent tax avoidance, such as controlled foreign company measures and transfer pricing.
This subject is designed to explore in detail the fundamental principles of Australia’s international taxation regime. The subject will examine both the issues of tax design and policy, and the relevant provisions in the legislation, cases and rulings.
Principal topics include:
- Principles of international taxation
- Rules for determining residence and source
- Rules for the taxation and avoidance of double tax of residents’ foreign incomeincluding foreign income tax offsets and exemption of foreign income
- Rules for the taxation of non-residents’ Australian source income (business income, interest, dividends and royalties)
- Introduction to tax treaties
- Introduction to accruals taxation of controlled foreign corporations and foreign trusts.
- Overview of rules for the prevention of base erosion and profit shifting including the multinational anti-avoidance law, diverted profits tax and thin capitalisation rules.
Note: Advanced treatment of tax treaties, controlled foreign corporations and trusts, thin capitalisation, base erosion and profit shifting will be provided in the following suite of advanced and specialist international tax subjects.
- International Tax: Anti-Avoidance
- Transfer Pricing
- Tax Treaties
- Current Issues in International Tax
Intended learning outcomes
A student who has successfully completed this subject will:
- Have an advanced and integrated understanding of the policies underlying Australia’s rules for taxing international transactions
- Have a detailed knowledge of the principles of law applicable to the taxation of inbound and outbound transactions
- Be able to critically examine, analyse, interpret and assess the effectiveness of Australia’s rules for the taxation of inbound and outbound transactions
- Be an engaged participant in the debate on the principles of international taxation and international tax avoidance
- Have a sophisticated appreciation of the international tax policy issues
- Have an understanding of the competing policy issues of deriving an appropriate amount of tax from cross-border transactions without impeding international trade and investment
- Have the cognitive and technical skills to generate critical and creative ideas relating to the taxation of cross-border transactions, and to critically evaluate legal and policy issues
- Have the skills to independently examine, research and analyse current and emerging legal issues relating on international taxation
- Have the oral and written communication skills to articulate and convey complex information regarding international taxation to specialist and non-specialist audiences.
Last updated: 12 October 2021