Business Tax & GST Law

The objective of the course is to help students understand the law and application of key types of business taxes with a particular focus on the goods and services tax. The course aims to build upon the concepts covered in Income Tax Law and that subject, or an equivalent undergraduate Income Tax Law subject, is assumed knowledge. Topics to be covered include: an Introduction to Business Taxes, including a review of the taxation of business income and a review of recent business tax reforms and a discussion on some topical specific business tax issues such as capital allowances, personal services income rules, non-commercial loss rules and interest deduction issues; Business Tax Entity Issues, including taxation of entity distributions, treatment of losses and entity consolidations; Capital Gains Tax Special Topics, including roll-over relief and the application of the Small Business CGT concessions; Goods and Services Tax fundamental concepts; Remuneration Taxes, including fringe benefits tax and superannuation rules; State Business Taxes, including land tax, payroll tax and stamp duties and International tax issues. The course will apply the concepts to facilitate tax planning with particular emphasis on the various issues that apply on the acquisition and disposal of a business.