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Taxation of Capital Gains - ATAX0411
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Faculty: Faculty of Law
 
 
School:  Australian School of Taxation
 
 
Course Outline: See below
 
 
Campus: ATAX Campus
 
 
Career: Postgraduate
 
 
Units of Credit: 6
 
 
EFTSL: 0.12500 (more info)
 
 
Indicative Contact Hours per Week: 0
 
 
Enrolment Requirements:
 
 
Restricted to students enrolled in Programs 9250 or 9260 or 9255
 
 
Excluded: ATAX0311, ATAX0511, ATAX0611
 
 
Fee Band: 1 (more info)
 
 
Further Information: See Class Timetable
 
 

Description

This course centres upon the basic structure and central concepts of the Australian Capital Gains Tax. It considers the policy rationale for taxing capital gains, and provides in-depth technical analysis of the legislation. It covers the general scheme, detailed calculation provisions, the impact of CGT on entities (such as companies, trusts and partnerships) and on specific assets, and the CGT concessions that exist in the roll-over and exemption provisions for individuals and large and small businesses. The course explores some of the key anti-avoidance provisions that exist, and aims to provide a thorough understanding of the key aspects of the Australian CGT.


Recommended Prior Knowledge

It is expected that you have a broad basic understanding of the capital gains tax regime as it applies in Australia.

Course Objectives

The objectives of this course are to give a clear understanding of the reasons for the introduction of a Capital Gains Tax in Australia, and to give a grounding in its scope and application in a variety of situations.

A candidate who has successfully completed this course should:
  • Understand the rationale for taxing capital gains, and have an understanding of the scheme of capital gains taxation in Australia
  • Be able to determine the application of the CGT provisions in any given case
  • Have developed skills of statutory construction and critical review of interpretations of legislative provisions
  • Be prepared for more complex problem-solving in future courses
  • Have developed an independent capacity to resolve complex CGT issues, and the ability to critically analyse CGT legislation in terms of both technical application and policy rationale

Main Topics

  • Background
  • Core provisions
  • Entities
  • Exemptions
  • Roll-overs and reorganisations
  • Small business concessions
  • Emerging issues

Assessment

1 research paper
1 exam

Course Texts

Prescribed
None

You must purchase or have access to the following publications:
  • Income Tax Assessment Act 1997
Citation and Style Guides
The following is a selection of acceptable citation and style guides, which you may use as the basis for your written work. You must purchase or have access to one of the following publications:
  • Rozenberg P, Australian guide to uniform legal citation (Sydney: Lawbook Co, 2nd ed, 2003)
  • Stuhmcke A, Legal referencing (Sydney: Butterworths, 3rd ed, 2005)
  • Australian guide to legal citation (Melbourne University Law Review Association, 2nd ed, 2002) - Available from http://mulr.law.unimelb.edu.au/aglc.asp
Recommended
Below is a list of further references that you may find useful in this course. Purchase of recommended references is not compulsory.
  • Burman LE, The Labyrinth of Capital Gains Tax Policy: A Guide for the Perplexed (Washington, Brookings Institute, 1999)
  • Cooper GS, Cooper's TLIP Capital Gains Tax (Sydney: ATP, 1998)
  • Gates SJ, Tax Aspects of Corporate Restructuring (Sydney: Australian Tax Practice, 1996)
  • Leow LP & Evans CC and the CCH Tax Editors, Australian Capital Gains Tax Planner, ITAA 1997 (Sydney, CCH, 2000 - loose leaf publication)
  • Taylor CJ, Capital Gains Tax: Business Assets and Entities (Sydney: Law Book Company, 1994)
  • Woellner RH, Barkoczy S, Murphy S and Evans C, 2007 Australian Taxation Law (Sydney: CCH Australia Ltd, 17th edition, 2006)

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© The University of New South Wales (CRICOS Provider No.: 00098G), 2004-2011. The information contained in this Handbook is indicative only. While every effort is made to keep this information up-to-date, the University reserves the right to discontinue or vary arrangements, programs and courses at any time without notice and at its discretion. While the University will try to avoid or minimise any inconvenience, changes may also be made to programs, courses and staff after enrolment. The University may also set limits on the number of students in a course.