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This subject will examine the operation of the taxation of major infrastructure projects in Australia. It will examine the taxation and non-taxation factors that impact on choice of structure for such projects, issues concerning investment in such projects and the application of tax incentives designated as applying to major infrastructure projects. It will also consider other issues associated with depreciation and restrictions that may operate to influence how these projects are put into operation.
Principal topics include:
- Project structures for public private partnerships
- Factors influencing structure
- Statutory framework and regulatory environment
- Investment issues: deduction issues, debt/equity levels and thin cap, etc
- Tax incentives for infrastructure projects including designated Infrastructure project entity status
- Restrictions on loss flow-through
- Depreciation and owner/holder issues
- Division 250 of the Income Tax Assessment Act 1997 (Cth)
- Managed investment trusts and attribution MITs
- Tax issues for Sovereign Wealth Fund investors
- Other restrictions on owner/holder status
- Non owner/holder structures
- Tax risk sharing
- Case studies to cover the above topics.
Intended learning outcomes
A student who has successfully completed this subject will:
- Have an advanced and integrated understanding of the tax law and policy as it applies to major infrastructure projects in Australia
- Be able to critically examine, analyse, interpret and assess the effectiveness of these laws and policies
- Be an engaged participant in debate regarding emerging and contemporary issues in the field of taxation of infrastructure projects
- Have a sophisticated appreciation of the factors and processes driving change in this area
- Have an advanced understanding of the latest developments and trends in laws dealing with taxation of major projects
- Have the cognitive and technical skills to generate critical and creative ideas relating to laws and policies dealing with taxation of major infrastructure projects, and to evaluate them
- Have the cognitive and technical skills to independently examine, research and analyse the key elements and features of the tax law as it applies in the context of infrastructure development
- Have the communication skills to clearly articulate and convey complex information regarding taxation of major infrastructure projects 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 major projects.
Last updated: 11 February 2021