Australia has one of the most complex tax systems in the world; thus, the study of tax poses significant challenges. Australian Tax 2020 provides a clear understanding of the basics of the Australian tax system through a step-by-step approach to unravelling complex law.
It provides an overview of the legislation and explains the processes leading to a detailed analysis of the components of the tax equation. Australian Tax 2020 then builds up to a comprehensive research framework for solving complex tax problems.
- Uses a unique three-level tax pyramid approach to demystify taxation policy and the key income tax, FBT and GST tax equations used to calculate tax payable/refundable.
- Provides examples and problems to demonstrate how the step-by-step processes apply in the real world.
- Problems designed for tutorials, lectures, workshops, self-learning, web-based learning and team-based learning.
• Taylor, Walpole, Burton Ciro & Murray, Understanding Taxation Law 2020
• Kenny & Walpole, Concise Tax Legislation 2020
• Fitzpatrick, Business and Corporations Law 4th edition
Table of contents
- The taxpayers and introduction
- Who we don’t tax, free riders and policy
- Income tax basics
- International tax
- Income tax accounting
- Ordinary income
- Statutory income
- Non-assessable income
- Capital gains and losses
- General deductions
- Specific deductions
- Deduction limitations
- Capital allowances
- Superannuation and eligible termination payments
- Special taxpayers
- Fringe benefits tax
- Goods and services
- Tax planning
- Tax administration
- Taxation in practice
- Solving complexity