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Taxation of Small and Medium Enterprises (LAWS70049)
Graduate coursework level 7Points: 12.5On Campus (Parkville)
About this subject
- Overview
- Eligibility and requirements
- Assessment
- Dates and times
- Further information
- Timetable (login required)(opens in new window)
Contact information
July
Lecturers
Paul Hockridge (Coordinator)
Mark Morris
Email: law-masters@unimelb.edu.au
Phone: 13 MELB (13 6352), International: +(61 3) 9035 5511
Website: law.unimelb.edu.au
Overview
Availability(Quotas apply) | July |
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Fees | Look up fees |
Small and medium business enterprises (SMEs), including high net worth families frequently operate through groups of private companies, trusts and partnerships. These SMEs face some of the most complex and challenging rules in the tax system. They also face a high tax compliance and planning burden.
This advanced and commercially essential subject is aimed at professionals in the ATO as well as general and tax practice advising SMEs and high-wealth families. Taught by leading practitioners with many years of experience advising the Australian SME and high net wealth families sector, the subject equips participants with an advanced knowledge of tax rules and latest changes for SMEs and high net worth families. It builds on and integrates the core content of other subjects, including Taxation of Business and Investment Income, Capital Gains Tax, Corporate Tax A, Taxation of Trusts and State Taxes. The subject addresses complex and sometimes competing principles from different parts of the tax law through topical case studies, and also incorporates discussion of other issues for SMEs including indirect taxes, asset protection and estate and succession planning. As a result, this subject may be best studied towards the end of your tax course.
Principal topics include:
- The application of income and capital gains tax rules of particular relevance for SMEs, both resident and non-resident, when establishing a new business or making investments, its operation and ultimate sale, winding up or business succession
- Tax issues for private companies and shareholders, including Div 7A of the Income Tax Assessment Act 1936 (Cth)
- Tax issues relating to remuneration by and financing of SMEs
- Tax concessions for SMEs, in particular the capital gains tax small business concessions
- Trust streaming, trust loss and capital distribution rules affecting SMEs
- Tax integrity and anti-avoidance rules for SMEs, including trust anti-avoidance rules
- Tax planning for high wealth families and SME structuring, asset protection and estate and business succession, incorporating key state and federal tax, asset protection and estate issues.
Intended learning outcomes
A student who has successfully completed this subject will:
- Have an advanced and integrated understanding of the tax law applicable to the different legal entities used by small and medium enterprises (SMEs) and high net wealth families
- Be able to apply the understanding of the tax law to initiate and respond to planning and structuring issues for SMEs and high net wealth families
- Be able to critically examine, analyse, interpret and assess the effectiveness of these tax rules in the context of SME structures
- Be an engaged participant in debate regarding the tax law applicable to entities used by SMEs and high net wealth families
- Have a sophisticated appreciation of the factors and processes driving reform of the tax framework
- Have the cognitive and technical skills to generate critical and creative ideas relating to taxation of SMEs and high net wealth families
- Have the cognitive and technical skills to independently research, apply and evaluate the practical application of the tax rules applying to SMEs and high net wealth families
- Have the communication skills to clearly articulate and convey complex information regarding taxation of SMEs and high net wealth families to 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 SMEs and high net wealth families.
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
Description | Timing | Percentage |
---|---|---|
Written assignment
| 21 August 2024 | 30% |
Take-home examination
| 13 - 16 September 2024 | 70% |
Hurdle requirement: A minimum of 75% attendance is required. | Throughout the teaching period | N/A |
Last updated: 31 January 2024
Quotas apply to this subject
Dates & times
- July
Principal coordinator Paul Hockridge Coordinator Mark Morris Mode of delivery On Campus (Parkville) Contact hours Total time commitment 150 hours Pre teaching start date 3 July 2024 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 31 July 2024 to 6 August 2024 Last self-enrol date 8 July 2024 Census date 1 August 2024 Last date to withdraw without fail 16 August 2024 Assessment period ends 16 September 2024 July contact information
Lecturers
Paul Hockridge (Coordinator)
Mark MorrisEmail: law-masters@unimelb.edu.au
Phone: 13 MELB (13 6352), International: +(61 3) 9035 5511
Website: law.unimelb.edu.au
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 20 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 Laws Course Graduate Diploma in Tax Course Master of Tax Course Master of Commercial Law - 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