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Business Entity Taxation - LAWS3058
Students

 
Faculty: Faculty of Law
 
 
School:  Faculty of Law
 
 
Course Outline: See below
 
 
Campus: Kensington Campus
 
 
Career: Undergraduate
 
 
Units of Credit: 6
 
 
EFTSL: 0.12500 (more info)
 
 
Indicative Contact Hours per Week: 3
 
 
Enrolment Requirements:
 
 
Prerequisite: LAWS3147 Prerequisite: JURD7351
 
 
Equivalent: JURD7458
 
 
CSS Contribution Charge:Band 3 (more info)
 
 
Tuition Fee:See Tuition Fee Schedule
 
 
Further Information: See Class Timetable
 
 

Description

This course follows on from Elements of Income Tax Law and deals specifically with the taxation of companies, trusts and partnerships, focusing on the income tax and companies. It also covers some tax accounting issues. There is an emphasis on tax policy as well as law and practice. The course provides a basic grounding in business taxation for students contemplating a career in tax law, or in commercial law practise.

Recommended Prior Knowledge

Pre-requisite: LAWS2051 or LAWS3147 Elements of Income Tax Law

Objectives

A candidate who has successfully completed this course should be able to:
  • Understand and explain the basic framework of the Australian taxation of business entities
  • Recognise and analyse income tax issues as they arise in the conduct of Australian business
  • Evaluate policy issues as they arise in the taxation of business
  • Advise taxpayers on business tax questions

Main Topics

Partnerships
- Tax issues on formation and operation
- Capital gains treatment
- Tax planning

Trusts
- Tax issues on formation and operation
- Capital gains treatment
- Tax planning

Companies
- Introduction
- Shares, Debt and Equity
- Distributions of profit and returns of capital
- Imputation
- Share transactions
- Treatment of company losses
- Treatment of consolidated groups

Other investment vehicles

The Goods and Services Tax

Teachers:

Philip Burgess, UNSW (former Associate Professor and currently Senior Visiting Fellow)

Assessment

Mid-session assignment on Partnership and Trusts approx 1500 words - 40%

End of session take-home on Companies etc approx 2000 words - 60%

Course Texts

Prescribed
  • Cooper Krever & Vann Commentary and Materials on Income Taxation, Thomson Reuters 6th edition 2009. NB: Philip Burgess is a co-author, but not the principal author, of this book.
  • Fundamental Tax Legislation (Thomson Reuters) or CCH Core Tax Legislation CCH Australia Ltd (2010 annual volume)

Recommended
  • Understanding Income Tax Law Gilders et al, LexisNexis 2009

Resources

Refer to the course outline which will be provided by the lecturer at the beginning of the relevant semester.

URL for this page:

© 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.