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Taxation of Small and Medium Enterprises (LAWS70049)
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
- Overview
- Eligibility and requirements
- Assessment
- Dates and times
- Further information
- Timetable(opens in new window)
Contact information
May
Lecturers
Mr Peter Gillies
Mr Paul Hockridge
Email: law-masters@unimelb.edu.au
Phone: +61 3 8344 6190
Website: law.unimelb.edu.au
Overview
Availability(Quotas apply) | May - Online |
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Fees | Look up fees |
Small and medium business enterprises including high net worth families operating through groups of private companies, trusts and partnerships must deal with some of the most complex and challenging rules in the tax system, and face a high tax compliance and planning burden. This subject is aimed at tax professionals in general or those in specialist tax practice advising SMEs and high-wealth families. It equips participants with an advanced knowledge of tax rules and latest reforms for SMEs and high net worth families, integrating the technical law that participants learn in other subjects, including corporate tax, tax of trusts, capital gains tax and taxation of business and investment income. This subject involves consideration of complex and competing principles from numerous parts of the tax and other laws including indirect taxes, asset protection and estate and succession planning. It builds on the core content of other subjects, including Taxation of Business and Investment Income, Capital Gains Tax, Corporate Tax A, Taxation of Trusts and State Taxes. As a result, this subject may be best studied towards the end of your tax course.
This advanced subject is co-taught by leading practitioners with many years of experience advising the Australian SME and high net wealth families sector. They deliver an advanced, commercially essential subject through application of the tax law to topical case studies.
Principal topics include:
- Income tax and capital gains tax rules applicable to trusts, private companies and partnerships, when establishing a new business or making investments, its operation and ultimate sale, winding up or business succession
- Tax issues for private companies and shareholders, including Div 7A of the Income Tax Assessment Act 1936 (Cth)
- Tax issues relating to remuneration by and financing of SMEs
- Tax concessions for SMEs, in particular the capital gains tax small business concessions
- Trust streaming, trust loss and capital distribution rules affecting SMEs
- Tax integrity and anti-avoidance rules for SMEs, including trust anti-avoidance rules
- Tax planning for SME structuring, asset protection and estate and business succession, incorporating key state and federal tax, asset protection and estate issues
- Asset protection and some estate and succession planning for SME entities, their owners and high wealth families.
Intended learning outcomes
A student who has successfully completed this subject will:
- Have an advanced and integrated understanding of the tax law applicable to entities used by small and medium enterprises (SMEs) and high net wealth families, with a particular focus on taxation of private companies trusts, partnerships and unincorporated joint ventures
- Be able to critically examine, analyse, interpret and assess the effectiveness of these tax rules
- Be an engaged participant in debate regarding the tax law applicable to entities used by SMEs and high net wealth families.
- Have a sophisticated appreciation of the factors and processes driving reform of the tax framework
- Have an advanced understanding of application of tax to the different legal entities used by SMEs and high net wealth families.
- Have a detailed understanding of key planning and structuring issues for SMEs and high net work families.
- Have the cognitive and technical skills to generate critical and creative ideas relating to taxation of SMEs and high net wealth families.and to critically evaluate them
- Have the cognitive and technical skills to independently examine, research and analyse the practical application of the tax rules applying to SMEs and high net wealth families.
- Have the communication skills to clearly articulate and convey complex information regarding taxation of SMEs and high net wealth families.to relevant specialist and non-specialist audiences
- Be able demonstrate autonomy, expert judgment and responsibility as a practitioner and learner in the field of taxation of SMEs and high net wealth families.
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
Description | Timing | Percentage |
---|---|---|
Assignment
| 24 May 2021 | 30% |
Take-home examination
| 18 - 21 June 2021 | 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
- May - Online
Coordinators Peter Gillies and Paul Hockridge Mode of delivery Online Contact hours Total time commitment 150 hours Pre teaching start date 7 April 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 5 May 2021 to 11 May 2021 Last self-enrol date 12 April 2021 Census date 6 May 2021 Last date to withdraw without fail 28 May 2021 Assessment period ends 21 June 2021 May contact information
Lecturers
Mr Peter Gillies
Mr Paul HockridgeEmail: 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.
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.
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