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Tax of Business and Investment Income (LAWS70002)
Graduate coursework level 7Points: 12.5Dual-Delivery (Parkville)
From 2023 most subjects will be taught on campus only with flexible options limited to a select number of postgraduate programs and individual subjects.
To learn more, visit COVID-19 course and subject delivery.
About this subject
- Overview
- Eligibility and requirements
- Assessment
- Dates and times
- Further information
- Timetable(opens in new window)
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
Lecturers
Gareth Redenbach (Coordinator)
Edward Consett
Email: law-masters@unimelb.edu.au
Phone: +61 3 8344 6190
Website: law.unimelb.edu.au
Overview
Availability(Quotas apply) | Semester 1 (Extended) - Dual-Delivery October - Dual-Delivery |
---|---|
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: 31 January 2024
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: 31 January 2024
Assessment
October
Description | Timing | Percentage |
---|---|---|
Class Participation | Throughout the teaching period | 10% |
Take-home examination
| 2 - 5 December 2022 | 90% |
Hurdle requirement: A minimum of 75% attendance. Note: the attendance hurdle does not apply when the subject is delivered online, however attendance at all live online sessions is expected. | 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
| 1 - 4 July 2022 | 70% |
Hurdle requirement: A minimum of 75% attendance. Note: the attendance hurdle does not apply when the subject is delivered online, however attendance at all live online sessions is expected. | Throughout the teaching period | N/A |
Last updated: 31 January 2024
Quotas apply to this subject
Dates & times
- Semester 1 (Extended)
Principal coordinator Michelle Herring Mode of delivery Dual-Delivery (Parkville) Contact hours 24 Total time commitment 150 hours Teaching period 28 February 2022 to 29 May 2022 Last self-enrol date 11 March 2022 Census date 31 March 2022 Last date to withdraw without fail 6 May 2022 Assessment period ends 4 July 2022 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
Principal coordinator Gareth Redenbach Mode of delivery Dual-Delivery (Parkville) Contact hours 24-34 hours Total time commitment 150 hours Pre teaching start date 7 September 2022 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 October 2022 to 11 October 2022 Last self-enrol date 12 September 2022 Census date 6 October 2022 Last date to withdraw without fail 4 November 2022 Assessment period ends 5 December 2022 October contact information
Lecturers
Gareth Redenbach (Coordinator)
Edward ConsettEmail: 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: 31 January 2024
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 Tax Course Master of Commercial Law Course Master of Laws 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-masters@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: 31 January 2024