Objectives:
This course will introduce students to the main concepts of Australia's income tax system. To understand the critical function of taxation in the Australian community, the taxation system is studied in its legal, economic, social and political context.

Given the speed with which changes are made to the technical details of tax law, this course seeks to provide students with an understanding of the underlying principles of the income tax system rather than knowledge of a particular but limited set of technical rules.

Content:
The course begins by examining the tax criteria of equity, efficiency and simplicity used to evaluate a taxation system. Australia's tax system is also used to provide concessions known as tax expenditures, to encourage certain economic behaviour-the course will consider the criteria for evaluating tax expenditures. The course considers how a taxpayer's taxable income is determined. The concept of income is a critical issue and will be considered from both the legal and economic perspectives. The distinction between income and capital is also examined. The course will go on to look at the statutory extensions to the income tax base-such as fringe benefits tax and capital gains tax.

The course then considers the deductions that are available to taxpayers and the distinction between expenditure incurred in deriving income and non-deductible private expenditure. The course will examine the concept of 'negative gearing' and the limitations that the courts have imposed on this tax planning arrangement. It will also consider 'salary packaging' tax concessions available to employees.

The course will consider tax administration: the features of the self-assessment system and the process through which decisions of the Commissioner of Taxation may be challenged.

26 Contact Hours (Intensive Delivery)

Introduction to Legal Reasoning and Research (non-lawyers)