Advanced Taxation Law (LAW4322) skeleton notes

Notes are colour coded and can be easily used in LAW4322 exam. Easy to find necessary references quickly. And they are complete with lectures, textbook notes, case summaries, examples and legislative notes.

Some of the covered topics are:

• Residence and Source
  • Introduction
  • Residence
  • Source
  • Temporary residents
  • Permanent establishments
• Capital Gains Tax
  • Main residence exemption
  • Small business concessions
  • Australian and foreign residents
  • Deceased estates
  • Foreign residents capital gains withholding tax
• Tax Losses
  • Introduction
  • General tax loss rules
• Temporary loss carry back tax offset (2020 Federal Budget Update)
  • Corporate loss restrictions
• Fringe Benefits Tax
  • Introduction
  • Liability to pay FBT
  • Fringe benefits
  • Calculating the taxable values of fringe benefits
  • Fringe benefits taxable amount
  • Steps involved in calculating FBT
  • Car fringe benefits
  • Debt waiver fringe benefits
  • Loan fringe benefits
  • Expense payment fringe benefits
  • Property fringe benefits
  • Residual fringe benefits
  • Fringe benefits and salary packaging
• Companies
  • Corporate tax rate
  • Dividends
  • Taxation of dividends
  • Imputation system
  • Franking distributions
  • Gross-up and credit mechanism
  • Capital returns
  • Dividend, interest and royalty withholding tax
  • Share buy-backs
  • Franking credit trading schemes
• Partnerships
  • Introduction
  • Nature of a partnership
  • Determining tax liability
  • Partnership creation, variation and other dealings
  • CGT and partnerships
  • Assignments of interests in partnerships
  • Corporate limited partnerships
• Trusts
  • Introduction
  • Nature of a trust
  • Overview of the taxation of trust estates
  • Meanings of key terms used in div 6
  • Operation of the basic rules in div 6
  • Revocable trusts and trusts for a settlor’s children
  • Flow-through nature of a trust and streaming
  • Managed investment trusts
• Income Alienation Anti-Avoidance Provisions
  • Introduction
  • Alienation of income from property
  • Alienation of personal services income
  • Alienation of income to minors
  • Service entity arrangements
• International Taxation
  • Introduction
  • Dealing with international double taxation
  • Foreign income tax offset
  • Foreign branch income and CGT exemption
  • Foreign equity distribution exemption
  • CFC regime
  • Preventing double taxation of attributed income
• Double Taxation Agreements
  • Introduction
  • Historical background to DTAs
  • Legislative framework of Australia’s DTAs
  • Multilateral convention
  • Key terms used in DTAs
  • Distributive articles in DTAs
  • Non-discrimination article
  • Mutual agreement procedure
  • Exchange of information
  • Interpretation of DTA articles
• Tax Avoidance
  • Introduction
  • Distinguishing tax avoidance from tax evasion and tax planning
  • Judicial responses to tax avoidance
  • Background to the general anti-avoidance provisions
  • Core provisions in pt IVA
  • Scheme
  • Tax benefit
  • Purpose
  • Commissioner’s discretion to make a determination
• Restructures, Takeovers, Demergers
  • Introduction
  • Small business restructures
  • Scrip for scrip takeovers
  • Demergers
• Consolidation
  • Introduction
  • Consolidated group
  • MEC group
  • Core rules
  • Cost setting rules
  • Transfer and utilisation of losses
  • Leaving a consolidated group
  • Liability rules