This core tax subject examines the law, policy and structural features of capital gains tax (CGT) in Australia and considers and applies CGT rules in a number of different private and business contexts. The subject examines the operation of CGT in detail in the context of the treatment of information and goodwill, earn-outs, the application of CGT to non-residents, in relation to real estate transactions, litigation and the use of trusts and deceased estates.

Principal topics include:

• Structure of the capital gains tax system and its interaction with other tax provisions
• Selected CGT Events and their key concepts
• The CGT treatment of information and goodwill
• The CGT treatment of earn-outs
• The application of CGT to non-residents
• CGT and business structures, restructuring, available rollovers and the small business CGT concessions
• Capital gains tax problems in conveyancing and real estate development
• Capital gains tax problems in compensation payouts
• Capital gains tax problems in trusts and estates.

This core tax subject examines the policies, detailed rules and current practical problems involved in the taxation of companies and shareholders in Australia, particularly at shareholder level. The lecturers are leading practitioners and they will consider the tax rules that apply to shares, corporate distributions, Australia‘s imputation system and the debt-equity integrity rules.

This subject consists of a detailed examination of the tax rules applied to companies and shareholders in a domestic setting in Australia, with a focus on issues at the shareholder level.

Principal topics include:

• The policy and problems of taxing companies and shareholders
• Tax treatment of contributions of share capital and assets to a company
• Debt-equity classification
• The corporate shareholder imputation system
• Private company deemed dividends
• Franking credit and capital streaming and associated anti-avoidance rules
• Taxation of company distributions and dealings with interests in companies, including liquidations and share buybacks.

This core tax subject examines the fundamentals of taxation, with a focus on Australia’s most important tax: the personal income tax. It engages with the tax law that is most relevant to legal and tax practice for individuals and businesses.

This subject equips students to interpret statutory tax rules and apply judicial approaches, and to understand the policy and implications of tax reform in this fast-changing and challenging area of law. This subject is required for international tax students and is recommended for all masters students who have had little previous study or experience in tax law and wish to gain a solid grounding in the area

Principal topics include:

• Overview of federal and state taxes in Australia, how tax laws are made, sources of tax law, tax policy and design principles and reform
• The structure of the income tax, concept of income and tax rates
• Income tax law, including calculation of taxable income; definition of income from services, property and business, capital gains, deductions and treatment of business and investment assets
• Overview of income tax of business and investment entities
• Tax avoidance and evasion, and the general anti-avoidance rule.

Effective tax administration is fundamental to achieving tax policy goals. This subject examines the practical issues that arise in the administration of the Australian tax system and tax administration generally. The sessions will explore, in depth, the administrative role of the Federal Commissioner of Taxation (FCT) in Australia's tax regime, the FCT's powers and the interaction of the Australian Taxation Office (ATO) with taxpayers, tax professionals and other authorities and agencies. The subject will also include international comparisons as relevant.

The subject will be taught by Ali Noroozi, PwC Tax Partner and former Inspector-General of Taxation.

Principal topics include:

• Tax administration under a self-assessment regime
• The structure of the ATO, including the corporate governance regime and internal checks and balances
• ATO compliance approaches and information gathering
• The ATO’s provision of advice and guidance to taxpayers
• The FCT's general powers of administration and remedial powers
• The interaction of the FCT and the ATO with the tax profession and the role of the Tax Practitioners Board
• The ATO's interaction with taxpayer including their rights such as seeking reviews of ATO decisions
• External scrutiny of the ATO by government and other agencies and authorities
• The ATO's role in tax policy advice and law design
• The ATO's interaction with international agencies such as the Organisation for Economic Co-operation and Development (OECD).

This core tax subject is designed to explore in detail the fundamental principles of income tax, fringe benefits tax and capital gains tax in relation to business and investment. It will provide the requisite skills and knowledge to identify and better deal with income tax problems that arise in practice and in other tax subjects. The lecturers are leading practitioners or academics with extensive experience in the field.

Principal topics include:

• The structure of the Australian income tax system
• The structure of the legislation, interaction mechanisms and derivation
• Multi-step transactions
• Deferred payments
• Expense characterisation and calculation of cost
• Valuation and conditions of employment
• Reimbursements and apportionment of deductions
• Capital gains tax: dissecting receipts and part disposals
• Deemed disposals
• Capital allowances and cost-base write-down
• Creation of liabilities
• Reimbursement and recovery of expenses.

This subject will examine Australia’s Goods and Services Tax (GST). The subject identifies the core legislative features in Australia’s GST contained in the A New Tax System (Goods and Services Tax) Act 1999.

Principal topics include:

• introduction to the GST: the objectives of a tax on household consumption expenditure and the design features and legislative scheme of Australia’s GST;
• GST’s ‘basic rules’ and the legislative building blocks contained in the GST law: the taxable person, consumption expenditure, tax value, registration, jurisdictional scope, supplies to and from offshore, exemptions, the destination principle (exports and imports) and input tax relief; and
• a legislative overview of the Australian GST treatment of the “difficult to tax” issues: real property and financial services.

The subject also includes:

• analysis of rulings and cases that are relevant to the operation of, and compliance with, Australia’s GST in practice; and
• reference to the value-added tax systems in other jurisdictions such as the European Union, United Kingdom, New Zealand and Singapore.

All governments need robust tax systems capable of funding them. Modern tax systems have also taken on other public policy roles, in income distribution and economic activity, and become integral to governments’ social and economic policies. Tax policy design thus entails a challenging mix of economic, social, legal and administrative policies - all of which has become more complex in a world of increasingly mobile capital and labour.

This subject looks at Australia’s tax system and experience with reform over recent decades, comparing it with other countries. The subject will analyse the available tax bases, the interactions between the tax and transfer systems and issues of tax law design and administration. The subject is taught by Paul Tilley, a former Australian Treasury official with a long history as a tax policy adviser to governments.

Principal topics include:

• Introduction to economics, fiscal policy and the processes of government
• Principles, objectives and main concepts in tax policy formulation
• Analysis of the main tax bases in Australia
• Major issues in tax reform in Australia, including in relation to revenue adequacy, economic efficiency, social equity and administrative simplicity
• Interactions between the tax and transfer systems
• The potential of the tax system to pursue environmental objectives

Tax advocacy today, like other advocacy in Australia and overseas, is largely conducted in writing. To succeed in advising or advocating for clients, whether private or government, tax professionals need outstanding written advocacy skills. This subject will enable tax professionals to develop an effective and persuasive writing style in tax advocacy. This subject will focus on the skill of writing key tax documents and developing precedents for future use, including letters of advice and opinions, objections, tribunal and court documents and written submissions, including appeal documents, ruling requests and briefing expert witnesses.

Principal topics include:

• Effective legal writing: writing techniques directed to persuade in a clear and effective way
• Writing letters of advice and opinions: section 264 information requests
• Objections
• Tribunal and court proceedings
• Appeal documents
• Applications for special leave to appeal
• Written submissions; eg to the GAAR panel, court proceedings and position papers
• Ruling requests
• Briefing the expert witness.

This subject is designed for tax professionals and government officials who wish to complete or update their education in corporate tax law and practice. Coordinated and taught by some of Australia’s leading tax advisers, it is focused around a series of topical issues. Using a detailed analysis of these issues, it provides students with in-depth, commercially relevant knowledge of the tax rules for mergers and acquisitions of public and private companies and consolidated corporate groups.

Topics include the application of rollovers that benefit shareholders and companies engaged in takeovers and mergers, especially involving consolidated groups, as well as applicable tax integrity rules and recent and ongoing tax reform.

Principal topics include:

• Corporate capital gains tax rollovers for mergers, acquisitions and disposals, including Divisions 124, 125, 126 and 615 of the Income Tax Assessment Act 1997 (Cth), in particular scrip for scrip, demerger and various corporate restructure rollovers
• The interaction of tax rules relating to mergers, acquisitions and restructures with key elements of the tax rules for consolidated corporate groups in Part 3-90 of the Income Tax Assessment Act 1997 (Cth) including rules for tax cost setting on entry and exit, foreign-owned multiple entry consolidated groups, tax-sharing and payment, due diligence and corporate risk
• The interaction of tax rules relating to mergers, acquisitions and disposal with the imputation system and corporate financing tax rules.

Small and medium business enterprises including high net worth families operating through groups of private companies, trusts and partnerships must deal with some of the most complex and challenging rules in the tax system, and face a high tax compliance and planning burden. This subject is aimed at tax professionals in general or those in specialist tax practice advising SMEs and high-wealth families. It equips participants with an advanced knowledge of tax rules and latest reforms for SMEs and high net worth families, integrating the technical law that participants learn in other subjects, including corporate tax, tax of trusts, capital gains tax and taxation of business and investment income. This subject involves consideration of complex and competing principles from numerous parts of the tax and other laws including indirect taxes, asset protection and estate and succession planning. It builds on the core content of other subjects, including Taxation of Business and Investment Income, Capital Gains Tax, Corporate Tax A, Taxation of Trusts and State Taxes. As a result, this subject may be best studied towards the end of your tax course.

This advanced subject is co-taught by leading practitioners with many years of experience advising the Australian SME and high net wealth families sector. They deliver an advanced, commercially essential subject through application of the tax law to topical case studies.

Principal topics include:

• Income tax and capital gains tax rules applicable to trusts, private companies and partnerships, when establishing a new business or making investments, its operation and ultimate sale, winding up or business succession
• Tax issues for private companies and shareholders, including Div 7A of the Income Tax Assessment Act 1936 (Cth)
• Tax issues relating to remuneration by and financing of SMEs
• Tax concessions for SMEs, in particular the capital gains tax small business concessions
• Trust streaming, trust loss and capital distribution rules affecting SMEs
• Tax integrity and anti-avoidance rules for SMEs, including trust anti-avoidance rules
• Tax planning for SME structuring, asset protection and estate and business succession, incorporating key state and federal tax, asset protection and estate issues
• Asset protection and some estate and succession planning for SME entities, their owners and high wealth families.

This core tax subject will examine in depth the Australian income tax rules applicable to trusts, including significant new and ongoing reforms and policy developments. It will apply these rules to the range of applications of trusts, including private trusts such as unit trusts, family discretionary trusts, public managed investment funds, real estate investment trusts, nominee trusts, and stapled structures used by large businesses.

Principal topics include:

• Definition and types of trust at law and for tax purposes and framework of trust tax rules
• Trust distributions, beneficiaries and trustees, present entitlement, net income and flow-through of tax attributes, such as franking credits and capital gains
• Trust losses
• Anti-avoidance and integrity rules
• Capital gains tax for trusts, including formation, distributions, termination, unit trusts and deceased estates
• Managed investment and real estate unit trusts, public trading trusts, and stapled and other trust structures
• Trust tax reform and new developments.

Globalisation is driving corporate tax systems closer together and often into conflict. For many tax practitioners, it is now not enough to know their own corporate tax system—they must grapple with and question the operation of other corporate tax systems. This subject seeks to develop an ability to understand and analyse any corporate tax system and assess its impact on corporate decision-making. With a dedicated textbook (written by the presenter), this subject compares a number of influential and archetypal corporate tax systems (both common law and civil law) and assesses their behaviour in the context of practical problems. For tax professionals, this subject develops an ability to ask direct and informed questions about a foreign corporate tax system and discuss that system at a high level with foreign tax professionals.

This subject will compare and analyse corporate income tax law in selected countries (Australia, China, Germany and the US, with some reference to the UK) and consider how these laws interface with corporate law. Participants will be encouraged to discuss other jurisdictions with which they are familiar and students are permitted to cover other countries in their research paper. The approaches adopted are analysed by reference to various policy options available. There is a particular focus on problems caused by the artificiality of corporations.

Principal topics include:

• Identification of entities (including hybrids) subject to corporation tax
• Corporate groups and personal service companies
• Debt versus equity and relief from economic double taxation of dividends
• Cross-border corporate income and dividends
• Gains/losses on the disposal of shares, takeovers and sale of loss companies
• Corporate formation, share buy-backs and liquidation
• Bonus issues, convertible notes, mergers and demergers.

In today’s global, digital era, international tax is vitally important, and the environment is changing rapidly. Tax issues on diverse topics of cross-border work, consumption, deals and investments are important for taxpayers ranging from individuals to multinational corporations. Governments are increasingly cooperating on tax collection and enforcement, but spill overs from unilateral tax changes of some countries may dramatically affect other countries. Meanwhile, tax competition continues. Tax havens are being brought into the global net and anti-abuse rules are strengthened, yet low tax jurisdictions remain significant for international tax policy.

This subject taught online will bring international tax experts into the virtual classroom from academia, government and the profession to explore the latest trends in international tax and implications for Australia and the world.

The subject will address the latest developments in tax practice and theory on a range of topics such as:

• International tax principles: are residence and source still relevant?
• OECD-G20 Base Erosion and Profit Shifting - Pillar One, Pillar Two, and where next?
• Anti-abuse rules in a global digital era
• Multilateral and bilateral tax cooperation
• Transnational tax administration and taxpayer rights
• Processes, players and countries in international tax reform
• Future design of international tax rules for corporate, individual and consumption taxes in a global digital context.

This subject is an advanced study of the rules under the Australian income tax legislation and tax treaties for dealing with international tax avoidance. The subject builds on the basic principles studied in International Tax: Principles and Structure and will include a study of Australia’s anti-deferral rules (CFCs and transferor trusts), including their interactions and reconciliations. Other major BEPS issues to be examined in the Australian context include interest deductibility, cross-border tax arbitrage, abuse of treaty (including treaty shopping), and taxation of digital transactions. The subject will critically examine the policy underlying Australia’s rules and evaluate whether their technical implementation achieves their policy objectives. There will be consideration of the ongoing reform of the rules, including international developments through the work of the Inclusive Framework. BEPS is redefining the rules for countering international tax avoidance and students working in international tax need to be aware of how these rules are being developed and reformed both globally and in Australia. While the subject is taught from an Australian perspective, it is intended that it will be accessible to those from other jurisdictions as all countries face many of the same BEPS issue.

Principal topics include:

• Australia’s CFC and transferor trust rules
• Multinational anti-avoidance Law
• Diverted profits tax
• Interest deductibility
• Cross-border tax arbitrage
• Taxation of digital transactions
• Treaty shopping
• Exchange of information.

This core international tax subject is of central importance given Australia’s ever-growing role in the global economy. This subject covers the fundamental international income tax rules that apply where income or capital gains are derived in circumstances that have a connection with Australia. It considers Australia’s tax jurisdiction of residence and source, and relief from double taxation under domestic law and tax treaties. It also examines measures to prevent tax avoidance, such as controlled foreign company measures and transfer pricing.

This subject is designed to explore in detail the fundamental principles of Australia’s international taxation regime. The subject will examine both the issues of tax design and policy, and the relevant provisions in the legislation, cases and rulings.

Principal topics include:

• Principles of international taxation
• Rules for determining residence and source
• Rules for the taxation and avoidance of double tax of residents’ foreign incomeincluding foreign income tax offsets and exemption of foreign income
• Rules for the taxation of non-residents’ Australian source income (business income, interest, dividends and royalties)
• Introduction to tax treaties
• Introduction to accruals taxation of controlled foreign corporations and foreign trusts.
• Overview of rules for the prevention of base erosion and profit shifting including the multinational anti-avoidance law, diverted profits tax and thin capitalisation rules.

Note: Advanced treatment of tax treaties, controlled foreign corporations and trusts, thin capitalisation, base erosion and profit shifting will be provided in the following suite of advanced and specialist international tax subjects.

• International Tax: Anti-Avoidance
• Transfer Pricing
• Tax Treaties
• Current Issues in International Tax

Globally, countries have negotiated more than 3,000 bilateral tax treaties and the number of treaties continues to grow. Tax Treaties provides an in-depth examination of international tax treaties, regarding both inbound and outbound investment. This subject uses the Organisation for Economic Co-operation and Development (OECD) Model Treaty and Commentary and examines important tax treaties of Australia and its major trading partners.

Associate Professor Michael Kobetsky has advised the United Nations (UN) and country governments on these issues. This lively, engaging and relevant subject equips students to deal with the most topical and advanced issues of international tax in the application and interpretation of tax treaties, including the meaning of permanent establishment and taxation of business profits, residence and source, the treatment of investment income, exchange of information and avoidance of double taxation.

Principal topics include:

• The role of tax treaties in preventing double taxation and tax avoidance
• Interpretation of tax treaties
• Relationship between tax treaties and domestic law
• Impact of tax treaties on investing in Australia
• Impact of tax treaties on investing overseas
• Entities and tax treaties
• The mutual agreement procedure
• Tax treaties and tax avoidance.

International transfer pricing is the price charged for the cross-border transfer of assets or services between associated enterprises in a multinational enterprise group. Transfer pricing is consistently identified in international surveys of multinational enterprises as the most important tax issue they face. Multinational enterprises have to deal with demands from the various jurisdictions in which they operate as national tax agencies implement measures to protect their revenue from cross-border trade between associated entities.

This subject studies the Australian transfer pricing rules and their application. The Australian transfer pricing rules are based on the Organisation for Economic Co-operation and Development (OECD) Transfer Pricing Guidelines. This subject is designed for tax advisers, in-house tax managers and government officials, as well as those practising in transfer pricing. A background in transfer pricing is not required.

Principal topics include:

• OECD guidelines on transfer pricing
• Australia’s tax legislation and tax rulings on transfer pricing
• Australia’s tax treaties and transfer pricing
• Case law
• Transfer pricing methodologies—selection and application for the following transactions in respect of tangible goods, intangible assets, services and financial transactions
• Transfer pricing documentation requirements
• Performing a comparable search (benchmarking)
• Completing the transfer pricing section of the tax return
• Risk reviews and audit approach.

CSIRO’s Data61 network describes blockchain technology as ‘a revolutionary new approach to database management’ that will prompt ‘significant changes in existing Australian industries’. Yet, despite significant investments of time and money by institutions around the world, we still lack robust proof of social or commercial benefit. 12 years have passed since Bitcoin’s ‘Genesis Block’ was mined, but that foundational use case—digital cash without traditional intermediaries—has not challenged the legacy payments infrastructure. Where blockchain-based assets are used as monetary instruments rather than investments, those transactions are atypical in subject-matter and frequency.

All of this begs the question: if the goal of blockchain technology is to eliminate ‘trusted third parties’, why is that something to aspire to? Is the answer to that question commercial or political? And, most importantly, is it correct? The aim of this subject is to answer these questions, and to do so by situating cryptoassets in their global context—as a matter of law, economics, politics and society.

Principal topics will include:

• Digital money
  • From Mesopotamia to M-Pesa
  • Local currencies
  • Gaming currencies
• Introduction to blockchain technology, cryptoassets and smart contracts
• Blockchain: law and commerce
  • Supply chains
  • Pseudonymity and disintermediation
  • Digital assets and money
• Blockchain: politics and society
  • Legal systems and social norms
  • Mining pools and coding cores
  • Decision-making and accountability
• Digital money and future commerce
  • Cashlessness and crime
  • Data, identity and money
  • Social and economic inclusion

This core tax subject examines the fundamentals of taxation, with a focus on Australia’s most important tax: the personal income tax. It engages with the tax law that is most relevant to legal and tax practice for individuals and businesses.

This subject equips students to interpret statutory tax rules and apply judicial approaches, and to understand the policy and implications of tax reform in this fast-changing and challenging area of law. This subject is required for international tax students and is recommended for all masters students who have had little previous study or experience in tax law and wish to gain a solid grounding in the area

Principal topics include:

• Overview of federal and state taxes in Australia, how tax laws are made, sources of tax law, tax policy and design principles and reform
• The structure of the income tax, concept of income and tax rates
• Income tax law, including calculation of taxable income; definition of income from services, property and business, capital gains, deductions and treatment of business and investment assets
• Overview of income tax of business and investment entities
• Tax avoidance and evasion, and the general anti-avoidance rule.