The fundamentals of income tax law and practice are covered. The basic ideas of assessable income including capital gains, allowable deductions and the essentials of tax accounting are examined in the context of their impact on businesses and taxpayers in general. Goods and Services Tax and Fringe Benefits Tax are also considered.
No offerings have been identified for this subject in 2021.
International School of Business and Partnerships
Bachelor of Business Studies students only. Not available to students who have completed LAW320, LAW301 or LAW380.
LAW380 Part of the subject content is similar, however subjects are offered to different cohorts
LAW301 This subject is identical to LAW301, except for mode of delivery and method of assessment
LAW301, LAW320, LAW380
Assessable income (ordinary income, including the effect of carrying on a business; statutory income, including capital gains). Deductions (general deductions, specific deductions -statutory expansions/clarification including capital cost write-offs, depreciation and repairs, tax offsets). Tax accounting (when income is derived and deductions are incurred, trading stock, calculation of tax payable, including exempt income and tax rates, fringe benefits tax, overview of Goods and Services Tax).