Description
Foundations of Taxation Law provides a clear and comprehensive introduction to the policy, principles and practice that underpin the Australian taxation system. Designed as a guide for law and business students as well as tax practitioners, the text blends policy issues, taxation theory, black letter law and commercial practice into a succinct general principles text. Topics are presented in a logical and structured order and are cross-referenced to specific provisions in the legislation and relevant cases so that readers are able to easily find the source of the law. The text includes approximately 400 examples and dozens of diagrams and tables that condense the law and help clarify difficult concepts. This edition contains expanded technical and policy discussion of several areas of law. It has been substantially revised and restructured to take account of the many important legislative reforms, case law developments and announcements that have occurred over the last 24 months.
Table of Contents
Part A. Introduction to Taxation and Australia's Tax System: 1. Taxation principles and theory; 2. Tax law research and interpretation; 3. Constitutional framework of the Australian tax system; 4. Australian taxes; 5. Tax policy, politics and reform; 6. The Treasury, Australian Taxation Office and tax profession; Part B. Goods and Services Tax: 7. Goods and services tax; Part C. Income Tax: 8. Income tax; Part D. Income: 9. Ordinary income; 10. Statutory income; 11. Exempt income and non-assessable non-exempt income; Part E. Deductions: 12. General deductions; 13. Specific deductions; 14. Provisions that deny or limit deductions; Part F. Asset Taxation Rules: 15. Capital allowances; 16. Trading stock; 17. Capital gains tax; Part G. Fringe Benefits, Superannuation and Employment: 18. Fringe benefits tax; 19. Superannuation; 20. Termination and unused leave payments; 21. Employee share schemes; Part H. Entities: 22. Companies; 23. Partnerships; 24. Trusts; 25. Special entities; 26. Consolidated groups; Part I. Tax Incentives and Reliefs: 27. Investment incentives; 28. Business and entity restructure relief; Part J. Financial transactions: 29. Financial transaction regimes; Part K. International Taxation: 30. General jurisdictional rules; 31. International exemptions, offsets and withholding taxes; 32. Double Taxation Agreements; 33. Base erosion and profit shifting and international tax enforcement; 34. Accruals taxation; 35. Foreign exchange; Part L. Tax Avoidance: 36. Tax avoidance; 37. General anti-avoidance provisions; Part M. Tax Administration: 38. Income tax returns, assessments, rulings, appeals and audits; 39. Identification and payment systems; 40. Tax record-keeping, reporting and recovery; 41. Tax penalties and offences.
