Taxation of Corporations - ATAX0603

 
Faculty: Faculty of Law
 
 
School:  Australian School of Taxation
 
 
Course Outline: See below
 
 
Campus: ATAX Campus
 
 
Career: Undergraduate
 
 
Units of Credit: 6
 
 
EFTSL: 0.12500 (more info)
 
 
Indicative Contact Hours per Week: 0
 
 
Equivalent: ATAX0303
 
 
Excluded: ATAX0303, ATAX0403, ATAX0503
 
 
Fee Band: 1 (more info)
 
 
Further Information: See Class Timetable
 
 

Description


The company remains the most widely used vehicle for the collective investment of capital. The central role of the company in our modern liberal market economy requires special and close consideration of the taxation of it, and its members. Corporate tax integration policy has led to the introduction of the imputation system, and the technical legal rules surrounding the distribution of corporate profits are a focus of this subject. Because the imputation system confers tax benefits upon shareholders, a variety of anti-avoidance rules have been constructed to prevent the use of those benefits in tax arbitrage strategies.


Recommended Prior Knowledge


None

Course Objectives


This course introduces students to the operation of the taxation of corporate tax entities in Australia. It involves the study of the taxation of dividends and the operation of the imputation system. It also covers the anti avoidance provisions specifically relating to corporate distributions and imputation.

Main Topics


  • The framework of corporate taxation
  • Corporate distributions
  • Distribution anti-avoidance provisions
  • Imputation system
  • Imputation - anti-avoidance
  • Company losses

Assessment


2 assignments
1 exam

Course Texts


Prescribed

  • Woellner R, Barkoczy S, Murphy S & Evans C, 2007 Australian Taxation Law (Sydney: CCH, 18th ed, 2007)
  • Income Tax Assessment Acts 1936 & 1997 (2008 editions) - You must purchase or have access to this publication.
Citation and Style Guides
You must also 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.
  • Deutsch, Friezer, Fullerton, Gibson, Plummer, Hanley & Snape, Australian Tax Handbook 2008 (Sydney: ATP, 2008)
  • Barkoczy S, Rider C, Baring J & Bellamy N, Australian Tax Casebook (Sydney: CCH Australia Ltd, 8th ed, 2007)