Full Description
Written by an expert author team, Australian Taxation Law 2017 comprehensively examines the fundamental tax legislation that underpins the Australian tax system, such as the GST, FBT, income tax and state taxes, and provides a framework within which to assess significant tax issues. This text has been updated to feature extensive analysis of recent legislation, case law developments and policy announcements. Included are new discussions on key proposals, such as the multinational tax avoidance, including the proposed diverted profits (`Google') tax, the managed investments trusts attribution regime, the voluntary tax transparency code, the Commissioner's statutory remedial power, HELP changes and the recently revived backpackers' tax. Tying all of this together is practical examples, sample calculations, extensive diagrams and flowcharts that aid in the understanding of the principles and applications of taxation law. Also included are sections of tax rates, tables and key tax websites for reference purposes, useful for students and practitioners. New to this Edition Updated throughout to incorporate the major legislative, case law and administrative reforms up to 1 September 2016 Navigation: Topical headings have been added to examples to make navigating the content easier
Contents
LIST OF ABBREVIATIONSKEY TAX WEBSITESIntroduction to income tax lawTax formula, tax rates and tax offsetsAssessable income: general principlesIncome from personal exertionIncome from propertyIncome from businessCapital gains tax. general topicsCapital gains tax. concessions and special topicsNon-assessable incomeGeneral DeductionsSpecific DeductionsCapital allowances and capital worksTax accountingTrading stockSmall business entities and concessionsTaxation of partnership incomeTaxation of trust incomeTaxation of corporate tax entities and their membersCorporate tax losses, net capital losses and bad debtsTaxation of consolidated groupsSpecial taxpayers and incentive schemesTaxation of financial transactionsSuperannuationInternational aspectsTax evasion, avoidance and planningFringe benefits taxGoods and services taxState taxesAdministrative aspects of taxationTax rulings, tax returns, and assessmentsChallenging an assessmentCollection and recovery of taxOffences, penalties and regulation of tax practitionersRates and tablesTable of CasesDecisions of Boards of Review and AAT (Taxation Appeals Division)Table of LegislationTable of Rulings
