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LAWS3412 - Australian Income Tax
Faculty of Law (Sydney Law School) - 6 credit points
HECS Band three
Domestic Fee: $4,170
International Fee: $4,980
EFTSL: 0.125000000
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Department: Law
Offered session(s): 1
Department permission required for enrolment in the following session(s): 1
Prohibitions: LAWS3047, LAWS5112
Teacher/Coordinator: Mr Micah Burch

Classes: 2x2hr seminars/week for 10 weeks

Assessment: 2hr mid-semester quiz (30%) and 2hr final exam (70%)

This unit provides an introduction to the Australian federal income tax system (including capital gains tax and fringe benefits tax). It introduces both the operation of the tax laws and the underlying principles which those laws seek to implement, as well as the important issues in tax policy, thereby allowing students to make a critical examination of the Australian tax system. Topics covered include the concept of income, capital gains tax, income from property, compensation receipts, periodic receipts, income from services and fringe benefits tax, business income, allowable deductions and the capital/revenue distinction, private outgoings and dual purpose expenditure, basic tax accounting principles, and legislative responses to tax avoidance. The unit also introduces the key concepts used to evaluate tax policy, including welfare economics, thereby providing students with a basic understanding of why taxation is of such fundamental concern in modern democratic societies. This unit serves as an introduction to the Australian income tax system and is a prerequisite for Advanced Taxation Law.
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