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Advanced Revenue Law - LAWS3152

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: 4

Enrolment Requirements:

Pre-requisite: Elements of Income Tax Law (LAWS3147/JURD7351).

Excluded: JURD7352

CSS Contribution Charge: 3 (more info)

Tuition Fee: See Tuition Fee Schedule

Further Information: See Class Timetable

View course information for previous years.

Description

The course is designed to develop an understanding of the framework of the contemporary tax regime, particularly as it affects business. It puts particular emphasis on picking out important principles from the overwhelming mass of detail and on supplying a basis for a critical understanding of the law in its broader economic and institutional context. Recent substantive changes have been sweeping but even more important have been the cultural changes affecting taxpayers, their advisers, the tax office and the courts.

The course is directed towards students who will have some contact with tax law in their professional lives, as solicitors in commercial practice, lawyers in the finance industry, and tax specialists in law and accounting firms, though it is likely that the latter will seek further post graduate education before becoming fully equipped for high level practice. The course should also be of interest to those interested in tax policy issues as they affect commerce and the ongoing tax reform debate

Recommended Prior Knowledge

Elements of Income Tax Law is a prerequisite. Business Associations 1 and 2 are also recommended to be studied in conjunction with Advanced Revenue Law.

Course Objectives

To develop a thorough, critical understanding of the central concepts in the law of income tax and capital gains tax as they apply to business and investment vehicles and to international transactions
To give a working familiarity with the structure and main provisions of the Income Tax Assessment Acts as they operate on individuals and business vehicles. Some time is also devoted to stamp duty and GST.
To develop a perspective on the operation of a system of tax rules in a volatile political and economic context, including a feel for developments in the more complex and growing areas of tax law, including superannuation and consumption taxes
To develop so-called "statutory construction" skills, as they operate in the real world. In particular we examine the content and limits of recent trends towards contextual and purposive interpretation in tax authorities. Emphasis is also placed on the problems of drafting and simplifying tax legislation
To develop a sense of the ethical issues, both professional and otherwise, which are relevant in the taxation arena

Main Topics