Handbook home
Taxation of Superannuation (LAWS70267)
Graduate coursework level 7Points: 12.5Not available in 2023
To learn more, visit 2023 Course and subject delivery.
Overview
Fees | Look up fees |
---|
Although relevant for all superannuation funds, this subject focuses heavily on self-managed superannuation funds (‘SMSFs’). This subject deals with the underlying policies, technical rules and current practical problems in relation to the taxation of SMSFs and their prudential management. In particular, it considers what investments and structures superannuation funds can use while still attracting concessional tax treatment along with how income is taxed, the treatment of contributions to those funds and the taxation of benefits paid. It also includes a detailed consideration of succession planning issues and how to apply those considerations in practice.
Principal topics include:
- The Superannuation Industry (Supervision) Act 1993 (Cth) and the Superannuation Industry (Supervision) Regulations 1994 (Cth): Detailed consideration of the key investment and other prudential rules, the policy behind them and how to apply them in practice
- Taxation of superannuation: overview of policy and legislative framework for contributions, investment and the payment of benefits, as well as the different structuring options available to practitioners
- Succession planning: the key rules, where there often is a difference between what an SMSF member wants and what the rules allow, how best to seek to ensure that a member’s wishes are achieved and the interplay with tax (including stamp duty) efficiency.
Intended learning outcomes
A student who has successfully completed this subject will:
- Have an advanced and integrated understanding of the policies, technical rules and current practical problems involved in the taxation of superannuation
- Be able to identify any problems an SMSF might face, research and evaluate various different solutions and form a reasoned conclusion as to which solution might best address the problem
- Be able to critically examine, analyse, interpret and assess the effectiveness of these rules
- Be an engaged participant in debate regarding emerging and contemporary issues in the field
- Have a sophisticated appreciation of the factors and processes driving proposed revision of the legal framework
- Have an advanced understanding of the legislative provisions applying to contributions, funds earnings and payment of benefits under the Income Tax Assessment Acts
- Have a detailed understanding of the interaction between the three pillars of Australia’s superannuation regime
- Have the cognitive and technical skills to generate critical and creative ideas relating taxation of retirement incomes and the emergence of self-managed superannuation funds (SMSFs)
- Have the cognitive and technical skills to independently examine, research and analyse existing and emerging tax issues
- Have the communication skills to clearly articulate and convey complex information regarding the taxation of superannuation regime in Australia to relevant specialist and nonspecialist audiences
- Be able demonstrate autonomy, expert judgment and responsibility as a practitioner and learner in the field of taxation of superannuation in Australia.
Last updated: 30 January 2024
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 (On Campus - Parkville)
July (On Campus - Parkville)
|
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: 30 January 2024
Assessment
Description | Timing | Percentage |
---|---|---|
Assignment | 4 March | 30% |
Take-home examination
| 13 - 16 March | 70% |
Hurdle requirement: A minimum of 75% attendance | Throughout the teaching period | N/A |
Last updated: 30 January 2024
Quotas apply to this subject
Dates & times
Not available in 2023
Additional delivery details
This subject has a quota of 30 students.
Enrolment is on a first come, first served basis. Waitlists are maintained for subjects that are fully subscribed.
Students should note priority of 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.
Last updated: 30 January 2024
Further information
- Texts
Prescribed texts
Specialist printed materials will be made available free of charge from Melbourne Law School prior to the pre-teaching period.
- Related Handbook entries
This subject contributes to the following:
Type Name Course Master of Commercial Law Course Master of Laws Course Graduate Diploma in Legal Studies Course Juris Doctor Course Graduate Diploma in Tax Course Master of Tax - 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: 30 January 2024