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Course

Taxation of Companies, Trusts and Partnerships - ATAX0013

Faculty: Australian School of Business

School: Australian School of Taxation and Business Law

Course Outline: ATAX0013 Course Outline

Campus: ATAX Campus

Career: Undergraduate

Units of Credit: 6

EFTSL: 0.12500 (more info)

Indicative Contact Hours per Week: 0

Enrolment Requirements:

Prerequisite: ATAX0009

Excluded: ATAX0113

CSS Contribution Charge: 3 (more info)

Tuition Fee: See Tuition Fee Schedule

Further Information: See Class Timetable

View course information for previous years.

Description

This course is an introduction to taxation of the company, partnership and trust. The course provides a brief introduction to the key concepts and legal framework of each of these business and investment vehicles, with emphasis on the concept of legal personality. It pulls together the basic structural elements of the key business vehicles and provides a comparative overview of their key features and taxation. It covers practical problems arising from the taxation of the company and trust. This includes tax on the company itself, including restrictions on the carry-forward of losses and taxation of profits distributed to members. The course looks at the income taxation of the partnership or, more accurately, the partners. This includes the basis for allocating income and losses between partners. It deals with the basic capital gains tax framework on each of the vehicles. It gives a brief overview of the main heads of entity tax avoidance. These are then examined in the context of the push for tax neutrality.


Recommended Prior Knowledge

Students are advised to have completed ATAX0001 Basic Tax Law and Process or ATAX0100 Principles of Australian Taxation Law prior to undertaking this course. Students enrolled in the BTax are required to have completed or be currently enrolled in ATAX0009 The Law of Companies Trusts and Partnerships.

Course Objectives

This course will help you develop the following skills and knowledge:
  • An understanding of the legal status of companies, trust and partnerships with specific understanding of the concept of legal personality
  • An understanding of the essential principles of taxation law applying to companies, trusts and partnerships and the ability to apply the legislative provisions that relate to each of these structures
  • An ability to compare and contrast the tax and legal implications of investing via one or other of companies, trusts and partnerships, from the perspective of the investor/shareholder and in the case of companies and trusts that of the investment vehicle itself and provide clear, reasoned advice on the tax consequences
  • An ability to recognise and solve legal and tax problems and to communicate your findings effectively

Main Topics

  • Tax on companies
  • Tax on shareholder
  • Partnership
  • Trust
  • The big picture - comparing structures

Course Texts

Textbook lists for ATAX courses will be available from the UNSW Bookshop from 1 February for Semester 1 courses and from 1 July for Semester 2 courses.
Library

Study Levels

Undergraduate Study Postgraudate Study Postgraduate Research Study Non-Award Study

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