This unit examines the fundamentals of the Australian taxation system. A critical approach is emphasised throughout. Students will be encouraged to think beyond the traditional categories and to pursue an approach to taxation law underscored by critical thinking. The wider societal and technological context of the Australian taxation system will form part of the unit’s focus. Topics covered include:
A broad overview of the self-assessment system and how tax is administered;
The interaction between various taxes;
Residence and source;
The concept of income and assessable income;
Capital gains and their inclusion in assessable income;
Allowable deductions including the general deduction rule and deduction regimes that supplement the general deduction rule;
Taxation of capital gains made through partnerships, trusts and corporations, the basic rules for capital gains tax (CGT), main residence exemption and small business concessions under the CGT regime;
The basic rules of goods and services tax (GST) including adjustments for GST, GST free supplies, input taxed supplies and property issues in relation to GST; and
