LAW380 Company and Taxation Law (8)
CSU Discipline Area: Management (MANAG)
Duration: One session
Abstract:
In this subject the fundamentals of both company and income tax law are studied. The company law module covers incorporation, company management and governance, corporate finance, as well as companies and outsiders. The taxation law module covers the tax formula, assessable income including capital gains tax, allowable deductions, tax rates and tax offsets, levies and charges, tax accounting, trading stock, the simplified tax system, fringe benefits tax and GST.
+ Subject Availability Modes and Locations
No offerings have been identified for this subject in 2013.Continuing students should consult the SAL for current offering details prior to contacting their course coordinator: LAW380
Where differences exist between the handbook and the SAL, the SAL should be taken as containing the correct subject offering details.
Assumed Knowledge:
Enrolment restrictions:
Not available to Bachelor of Business (Accounting) students. Not available to students who are enrolled in or have completed LAW220 (or LAW310 ) or LAW301 (or LAW320 ). Prerequisites LAW100 or LAW110 do not apply to CPA Australia or ICAA students.
Objectives:
Upon successful completion of this subject, students should:
* Be equipped with sufficient knowledge in Australian corporate and taxation law to enable them to deal with business persons and legal advisors in an informed and reasoned manner;
Be able to:
* Identify the different types of companies and the sources of the law in relation to corporations;
* Explain the means of bringing into being and terminating a corporation;
* Apply the legal rules, regulating the internal relationship between the participants of a corporation, to a hypothetical practical situation;
* Apply the legal rules, regulating the external relationship between the participants of a corporation and third parties, to a hypothetical practical situation;
* Apply legislation, case law and administrative provisions as they relate to the underlying principles of Australian income tax law and practice, to a hypothetical practical situation;
* Use online resources including the Australian Taxation Office website;
* Maintain relevant records necessary for the preparation of tax returns; and
* Be able to implement a methodology for solving legal problems based on the following steps:
-Identifying the relevant facts;
-Identifying the applicable law;
-Identifying the legal issue/s involved;
-Addressing the legal issue/s by applying the applicable law to the relevant facts in a logical, chronological, concise and complete manner;
-Reaching a sound and reasoned conclusion.
Syllabus:
The subject will cover the following topics:
Corporations law; Introduction to Corporations law [Definition, sources and registration, Limited liability and the separate entity theory] Managing companies: The internal governance rules of a company and corporate governance; Managing companies: Member decision making, members meetings, restrictions on members decision making; Managing companies: Directors, duties of directors and other officers, Managing companies: Consequences of mismanagement/breach of duty and members remedies; Managing companies: Reporting and disclosure; Corporate finance: Shares and shareholding, securities and takeovers, financial services and markets; Companies and outsiders: Contracting by companies, corporate liability and the corporate veil; Companies and outsiders: External administration and winding up. Taxation Law Introduction to taxation law Income from the provision of services Income from property Income from business or profit making scheme Capital gains tax General deductions Specific deductions Exempt income and non-assessable non-exempt income, rate, tax offsets, charges and levies Tax accounting Trading stock Simplified tax system Fringe benefit tax GST is studied throughout the different topics.
The information contained in the 2013 CSU Handbook was accurate at the date of publication: 24 April 2013. The University reserves the right to vary the information at any time without notice.