Capital Gains Tax: Problems in Practice (LAWS70081)
Graduate coursework level 7Points: 12.5On Campus (Parkville)
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
September
Lecturers
Mr Michael Flynn QC (Coordinator)
Ms Anna Wilson
Email: law-masters@unimelb.edu.au
Phone: +61 3 8344 6190
Website: law.unimelb.edu.au
Overview
| Availability(Quotas apply) | September |
|---|---|
| Fees | Look up fees |
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: 3 November 2022
Eligibility and requirements
Prerequisites
Students must meet one of the following prerequisite options:
Option 1
Admission into a relevant Melbourne Law Masters program
Option 2
Admission into the MC-JURISD Juris Doctor
AND
| Code | Name | Teaching period | Credit Points |
|---|---|---|---|
| LAWS50046 | Taxation Law and Policy | Semester 1 (Online) |
12.5 |
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 |
|---|---|---|
Option 1, Part 1: Assignment
| 22 September 2021 | 30% |
Option 1, Part 2: Take-home examination
| 15 - 18 October 2021 | 70% |
Option 2: Research paper on a topic approved by the subject coordinator
| 24 November 2021 | 100% |
| 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 |
Additional details
Note: Students must choose assessment from the options listed above. If an option contains parts, all parts must be completed if that option is chosen.
Last updated: 3 November 2022
Quotas apply to this subject
Dates & times
- September
Coordinators Michael Flynn and Anna Wilson Mode of delivery On Campus (Parkville) Contact hours 24-34 hours Total time commitment 150 hours Pre teaching start date 4 August 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 1 September 2021 to 7 September 2021 Last self-enrol date 9 August 2021 Census date 2 September 2021 Last date to withdraw without fail 15 October 2021 Assessment period ends 24 November 2021 September contact information
Lecturers
Mr Michael Flynn QC (Coordinator)
Ms Anna WilsonEmail: 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
- Related Handbook entries
This subject contributes to the following:
Type Name Course Graduate Diploma in Tax Course Master of Laws Course Juris Doctor 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
Last updated: 3 November 2022