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This subject will now be taught online in 2021.
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: 1 September 2021