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Taxation of Trusts (LAWS70333)
Graduate coursework level 7Points: 12.5Not available in 2023
To learn more, visit 2023 Course and subject delivery.
Overview
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This core tax subject will examine in depth the Australian income tax rules applicable to trusts, including significant new and ongoing reforms and policy developments. It will apply these rules to the range of applications of trusts, including private trusts such as unit trusts, family discretionary trusts, public managed investment funds, real estate investment trusts, nominee trusts, and stapled structures used by large businesses.
Principal topics include:
- Definition and types of trust at law and for tax purposes and framework of trust tax rules
- Trust distributions, beneficiaries and trustees, present entitlement, net income and flow-through of tax attributes, such as franking credits and capital gains
- Trust losses
- Anti-avoidance and integrity rules
- Capital gains tax for trusts, including formation, distributions, termination, unit trusts and deceased estates
- Managed investment and real estate unit trusts, public trading trusts, and stapled and other trust structures
- Trust tax reform and new developments.
Intended learning outcomes
A student who has successfully completed this subject will:
- Have an advanced and integrated understanding of trust taxation rules and of how these tax rules apply to trusts in a range of different applications
- Be able to critically examine, analyse, interpret and assess the effectiveness of these legal rules
- Be an engaged participant in debate regarding emerging and contemporary issues in the field
- Have a sophisticated appreciation of the key planning and structuring uses of trusts
- Have an advanced understanding of taxation of private trusts for individuals and families, discretionary and unit trusts for businesses, public managed funds, real estate and trading trusts, nominee and stapled structures used by large business
- Have a detailed understanding of topical issues and tax reforms applicable to trusts
- Have the cognitive and technical skills to generate critical and creative ideas relating the use of trusts, and to critically evaluate the tax treatment applying to them
- Have the cognitive and technical skills to independently examine, research and analyse existing and emerging issues relating to taxation of trusts
- Have the communication skills to clearly articulate and convey complex information regarding taxation of trusts 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 taxation of trusts.
Last updated: 31 January 2024
Eligibility and requirements
Prerequisites
Students must meet one of the following prerequisite options:
Option 1
Admission into a Melbourne Law Masters program
AND
All of
Code | Name | Teaching period | Credit Points |
---|---|---|---|
LAWS70002 | Tax of Business and Investment Income |
August (Dual-Delivery - Parkville)
Semester 1 (Extended) (On Campus - Parkville)
|
12.5 |
LAWS70081 | Capital Gains Tax: Problems in Practice |
April (On Campus - Parkville)
Semester 2 (Dual-Delivery - Parkville)
|
12.5 |
OR
LAWS70325 Capital Gains Tax: Problems in Practice LAWS70250 Tax of Business and Investment Income
OR
Equivalent subjects, or appropriate professional experience
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: 31 January 2024
Assessment
Description | Timing | Percentage |
---|---|---|
Assignment
| 30 November 2022 | 30% |
Take-home examination
| 16 - 19 December 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
Not available in 2023
What do these dates mean
Visit this webpage to find out about these key dates, including how they impact on:
- Your tuition fees, academic transcript and statements.
- And for Commonwealth Supported students, your:
- Student Learning Entitlement. This applies to all students enrolled in a Commonwealth Supported Place (CSP).
Subjects withdrawn after the census date (including up to the ‘last day to withdraw without fail’) count toward the Student Learning Entitlement.
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: 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 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-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