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Taxation Law and Policy (LAWS50046)
Graduate coursework level 5Points: 12.5On Campus (Parkville)
About this subject
Contact information
Semester 1
Teaching staff:
Miranda Stewart (Subject Coordinator)
For current student enquiries, contact the Law School Academic Support Office
Semester 2
Teaching staff:
Kathryn James (Subject Coordinator)
For current student enquiries, contact the Law School Academic Support Office
Overview
| Availability(Quotas apply) | Semester 1 Semester 2 |
|---|---|
| Fees | Look up fees |
Taxation is at the heart of public finance in Australia, as in other nation states with market economies. It is the most significant source of revenue to finance government. Taxation affects all individuals and businesses because it is used to deliver distributive justice and to influence the allocation of resources in the economy.
In this subject we will:
- examine Australia’s tax system and the principles of public finance, with a focus on the income tax law, Australia’s most important tax;
- explore contemporary tax reform debates in the context of public finance principles;
- develop legal and analytical skills in the interpretation and application of the income tax law to widely relevant transactions of individuals and businesses; and
- study tax law as a social process and identifies the connection of tax law with other areas of law and other disciplines, especially economics and social sciences.
Intended learning outcomes
Participants in this subject will develop the capability to do critical analysis of Australia’s tax law in its sociopolitical context, including by applying public finance principles and interpretive theories of law. Participants will master the application of the income tax statute, cases and administrative guidance concerning:
- assessable income, including the treatment of capital gains;
- allowable deductions, and other recognition of expenditure and losses;
- the time at which income or deductions are recognised;
- an introduction to the tax treatment of intermediary entities including partnerships, companies and trusts;
- an introduction to international tax jurisdiction; and
- key elements of tax administration, compliance, planning and avoidance, including anti-avoidance rules.
Generic skills
Students who successfully complete this subject will:
- have an understanding of the core principles of public finance and be able to critically analyse the taxation law applying these principles;
- be capable of interpreting and applying in a detailed and nuanced manner key elements of Australian income tax law to a range of widely relevant transactions;
- be capable of identifying strategic issues in tax planning including the importance of timing, use of entities and approaches to compliance and avoidance;
- fully appreciate the importance of the sociopolitical context in shaping taxation law, tax administration and tax planning; and
- be equipped to address uncertainty and risk in the application of taxation law from the perspective of a taxpayer and the tax administrator.
Last updated: 8 November 2024