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/ Diploma in Law /LEGAL PROFESSION
ADMISSION BOARD
/ /LAW EXTENSION COMMITTEE
LAW EXTENSION COMMITTEE SUBJECT GUIDE
12 TAXATION AND REVENUE LAW
SUMMER SESSION 2017-18
This Guide includes the Law Extension Committee’s course information and teaching program and the Legal Profession Admission Board’s syllabus. The syllabus is contained under the heading “Prescribed Topics and Course Outline” and has been prepared in accordance with Rule 27H(a) of the NSW Admission Board Rules 2015.
Course Description and Objectives / 1Lecturer / 1
Assessment / 1-2
March 2018 Examination / 2
Lecture Program / 2-3
Weekend Schools 1 and 2 / 4-5
Texts and Materials / 5
Compulsory Assignment / 6
Assignment Question / 6
List of references to Australian Taxation Law – 25th ed. / 7
Prescribed Topics and Course Outline / 8-12
Weekend School Questions (Sample Examination Questions) / 13-20
Course Materials / 21-22
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LAW EXTENSION COMMITTEE
/SUMMER 2017-18
12 TAXATION AND REVENUE LAW
Course description and objectives
The Taxation and Revenue Law course is an overview of the Income Tax Assessment Act and related legislation. General principles concerning the assessability and deductibility of different types of receipts and items of expenditure are considered, along with more recent developments in relation to the tax treatment of fringe benefits and capital gains. The differing tax consequences in respect of various legal entities, such as partnerships, trusts and companies, are also considered. The last part of the course deals with the collection and recovery of tax, and the procedures to be followed by a taxpayer in disputing a tax assessment with the Commissioner of Taxation.
The objective of the course is to provide an overview of the structure of the tax legislation which will enable students to determine, at least in broad terms, the tax consequences that flow from particular factual situations. This is achieved through a study of the legislation and decided cases, and the consideration of hypothetical factual situations that would commonly be encountered in practice.
LECTURER
Mr A J O'Brien, BEc, LLB, LLM (Syd), CA
Tony O'Brien is a member of the New South Wales Bar practising in Sydney and a chartered accountant. He holds the degrees of Bachelor of Laws, Bachelor of Economics and Master of Laws from the University of Sydney. Mr O'Brien was previously a solicitor of the Supreme Court, and has worked in the tax divisions of large law and accounting firms. He is a long-standing member of the Law Extension Committee as a nominee of the NSW Bar Association.
ASSESSMENT
To be eligible to sit for the Board’s examinations, all students must complete the LEC teaching and learning program, the first step of which is to ensure that you have registered online with the LEC in each subject for which you have enrolled with the Board. This gives you access to the full range of learning resources offered by the LEC.
To register with the LEC, go to www.sydney.edu.au/lec and click on the WEBCAMPUS link and follow the instructions. Detailed guides to the Webcampus are contained in the material distributed by the LEC, in the Course Information Handbook, and on the Webcampus.
Eligibility to Sit for Examinations
In accordance with the Legal Profession Admission Rules, the LEC must be satisfied with a student’s performance in a subject in order for the student to be eligible to sit for the examination, conducted by the Legal Profession Admission Board (LPAB). Assignments are used to assess eligibility.
Students are expected to achieve at least a pass mark of 50% in assignments to be eligible to sit for examinations. However, a category of “deemed eligible” has been introduced to offer students whose assignment mark is between 40-49% an opportunity to sit for the examination. In these circumstances students are often advised not to sit. A mark below 40% means a student is not eligible to sit for the examination.
Assignments as part of the Board’s Examinations
Assignment results contribute 20% to the final mark in each subject.
The Law Extension Committee (LEC) administers the setting and marking of assignments. The LEC engages the LPAB’s Examiners to assess or supervise the assessment of assignments.
Submission
Assignments must be received by 11:59pm on the due date unless an extension has been granted. Extensions must be requested by email prior to the due date. Specific supporting evidence must be provided. Assignments that are submitted more than ten days late will not be accepted. Late assignments attract a penalty of one mark out of 20, or 5% of the total marks available, per day.
Assessment
Assignments are assessed according to the “Assignment Grading and Assessment Criteria” outlined in the Guide to the Presentation and Submission of Assignments. Prior to the examination, assignments will be returned to students and results posted on students’ individual results pages of the LEC Webcampus. Students are responsible for checking their results screen and ascertaining their eligibility to sit for the examination.
Review
Where a student’s overall mark after the examination is between 40-49%, the student’s assignment in that subject will be included in the Revising Examiner’s review. The final examination mark is determined in accordance with this review. Assignment marks will not otherwise be reviewed.
MARCH 2018 EXAMINATION
Candidates will be expected to have a detailed knowledge of the prescribed topics:
General principles; Income from personal services; Income from property; Income from a business; Capital gains tax; Allowable deductions; Taxation of companies and shareholders; Taxation of partnerships; Taxation of trusts; Returns, assessments, objections and appeals; Collection and recovery and General anti-avoidance provisions.
Candidates will be expected to have studied the prescribed materials in relation to these topics, and to have analysed the cases contained in the Law Extension Committee's course outline.
All enquiries in relation to examinations should be directed to the Legal Profession Admission Board.
Examination Prize
The "CCH Prize" ($100 publication voucher) has been donated by CCH Australia Ltd for the best examination mark in Taxation.
LECTURE PROGRAM
Lectures in Taxation and Revenue Law will be given by Mr O'Brien and will be held on Tuesdays commencing at 6.00pm in seminar rooms at 133 Castlereagh Street, Sydney. This building is located in the city and NOT on the main campus.
Please note that this program is a general guide and may be varied according to need. Readings are suggested to introduce you to the material to be covered in the lecture, to enhance your understanding of the topic, and to encourage further reading. You should not rely on them alone. Aside from the references below to cases, the other references are to chapters and paragraphs from the textbook Australian Tax Law.
WEEK / VENUE / DATE / TOPIC / KEY READING1 / Castlereagh St
SR1804/05 / 7 Nov / General principles / Chapter 3
2 / Castlereagh St
SR1804/05 / 14 Nov / General principles / Chapter 3
FCT v Cooke and Sherden
3 / Castlereagh St
SR1804/05 / 21 Nov / Income from personal
Services / FCT v Dixon
Smith v FCT
4 / Castlereagh St
SR1804/05 / 28 Nov / Income from property / IRC v Ramsay
Stanton v FCT
5 / Castlereagh St
SR1804/05 / 5 Dec / Income from business / FCT v Whitfords Beach
Westfield v FCT
6 / Castlereagh St
SR1804/05 / 12 Dec / Income from business / FCT v Whitfords Beach
Westfield v FCT
Study Break: Saturday 16 December 2017 – Sunday 7 January 2018
7 / Castlereagh St
SR1804/05 / 9 Jan / Capital gains tax / Chapter 7
8 / Castlereagh St
SR1804/05 / 16 Jan / Capital gains tax / Chapter 7
9 / Castlereagh St
SR1804/05 / 23 Jan / Allowable deductions / Herald and Weekly Times v FCT
Sun Newspapers and Associated Newspapers v FCT
10 / Castlereagh St
SR1804/05 / 30 Jan / Taxation of companies and shareholders / 18-000 – 18-010
18-100 – 18-130
18-200 – 18-207
18-330 – 18-387
18-500 – 18-520
11 / Castlereagh St
SR1804/05 / 6 Feb / Taxation of partnerships
Taxation of trusts / 17-000 – 17-050
17-060 – 17-260
16-000 – 16-090
16-200 – 16-305
12 / Castlereagh St
SR1804/05 / 13 Feb / Returns
Collection and recovery
Anti-avoidance provisions / DFCT v Richard Walter
FCT v Citibank
30-000 – 30-467
30-600 – 30-640
31-300 – 31-700
32-400 – 32-500
25-300 – 25-345
25-600 – 25-700
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Weekend SchoolS 1 AND 2
There are two weekend schools principally for external students. Lecture students may attend on the understanding that weekend school classes aim to cover the same material provided in weekly lectures and are primarily for the assistance of external students.
It may not be possible to cover the entire course at the weekend schools. These programs are a general guide and may be varied according to need. Readings are suggested to introduce you to the material to be covered in the lecture, to enhance your understanding of the topic and to encourage further reading. You should not rely on them alone.
Weekend School 1
TIME / MAJOR TOPICS / KEY READINGFriday 24 November 2017: 5.00pm – 9.00pm in Abercrombie Case Study Lecture Theatre 2080
5.10pm-6.20pm / General principles / Chapter 3
6.30pm-7.35pm / General principles / Chapter 3
FCT v Cooke and Sherden
7.45pm-9.00pm / Income from personal
services / FCT v Dixon
Smith v FCT
Saturday 25 November 2017: 4.00pm – 8.00pm in Abercrombie Case Study Lecture Theatre 2080
4.10pm-5.20pm / Income from property / IRC v Ramsay
Stanton v FCT
5.30pm-6.35pm / Income from a business / FCT v Whitfords Beach
Westfield v FCT
6.45pm-8.00pm / Capital gains tax / Chapter 7
Weekend School 2
TIME / MAJOR TOPICS / KEY READINGFriday 2 February 2018: 5.00pm – 9.00pm in New Law School Lecture Theatre 028
5.10pm-6.20pm / Capital gains tax / ATL: refer to Chapter 7
6.30pm-7.35pm / Allowable deductions / Herald and Weekly Times v FCT
Sun Newspapers and Associated Newspapers v FCT
7.45pm-9.00pm / Allowable deductions / Herald and Weekly Times v FCT
Sun Newspapers and Associated Newspapers v FCT
Saturday 3 February 2018: 4.00pm – 8.00pm in New Law School Lecture Theatre 028
4.10pm-5.20pm / Taxation of companies and
shareholders / 18-000 – 18-010
18-100 – 18-130
18-200 – 18-207
18-330 – 18-387
18-500 – 18-520
5.30pm-6.35pm / Taxation of partnerships
Taxation of trusts / 17-000 – 17-050
17-060 – 17-260
16-000 – 16-090
16-200 – 16-305
6.45pm-8.00pm / Returns
Collective and recovery
Anti-avoidance provisions / DFCT v Richard Walter
FCT v Citibank
30-000 – 30-467
30-600 – 30-640
31-300 – 31-700
32-400 – 32-500
25-300 – 25-345
25-600 – 25-700
texts and materials
Course Materials
· Guide to the Presentation and Submission of Assignments (available on the LEC Webcampus)
Prescribed Materials
· Barkoczy, Core Tax Legislation & Study Guide – most recent edition available
· Woellner, Barkoczy, Murphy & Evans, Australian Taxation Law – most recent edition available
Reference Materials
· Income Taxation – Commentary Materials, Cooper, Krever and Vann,
· Australian Tax Practice, Thomson Reuters ATP
· Australian Tax Handbook, Thomson Reuters ATP
· Australian Federal Tax Reporter, CCH
· Australian Master Tax Guide, CCH
LEC Webcampus
Once you have registered online with the LEC, you will have full access to the facilities on the LEC Webcampus, including links to relevant cases and legislation in the Course Materials section.
COMPULSORY ASSIGNMENT
In Taxation and Revenue Law, there is only ONE ASSIGNMENT. This assignment is compulsory and must be submitted by all students. Students must submit the assignment by the due date. A pass mark is 50%. Refer to the Guide to the Presentation and Submission of Assignments for the assignment grading and assessment criteria. Students who fail to satisfy the compulsory requirements will be notified through the Results screen on the Webcampus before the examination period of their ineligibility to sit the examination in this subject. The maximum word limit for the assignment is 1200 words (inclusive of all footnotes but not bibliography).
The rules regarding the presentation of assignments and instructions on how to submit an assignment are set out in the LEC Guide to the Presentation and Submission of Assignments which can be accessed on the LEC Webcampus. Please read this guide carefully before completing and submitting an assignment.
The completed assignment should be lodged through the LEC Webcampus, arriving by 11:59pm on the following date:
Compulsory Assignment / Monday 8 January 2018 / (Week 7)ASSIGNMENT QUESTION
To obtain the Taxation and Revenue Law assignment question for the Summer Session 2017-18, please follow the instructions below:
1. Register online with the LEC (see page 24 of the Course Information Handbook for detailed instructions). Once you have registered, you will have full access to all the facilities on the LEC Webcampus.
2. Then go into the Webcampus, select the Course Materials section and click on the link to the assignment question for this subject.
LIST OF REFERENCES TO AUSTRALIAN TAXATION LAW – 25TH EDITION
TOPICS / REFERENCESGeneral Principles:
- Legislation framework
- Concept of income
- Residence
- Source
- Derivation / Chapter 3
13-000 – 13-460
24-040 – 24-066
24-100 – 24-170
Income from Personal Services / 4-000 – 4-170
4-700 – 4-740
4-800 – 4-820
26-000 – 26-200
26-330
Income from Property / 5-000 – 5-215
5-300 – 5-380
5-400 – 5-420
5-500 – 5-525
Income from Business / 6-000 – 6-560
6-800 – 6-910
14-000 – 14-160
Capital Gains Tax / 7-030 – 7-995
8-500 – 8-540
8-850 – 8-855
Deductions / 10-000 – 10-330
10-420 – 10-480
11-000 – 11-450
11-500 – 11-520
12-100 – 12-190
12-500 – 12-540
Taxation of Companies and Shareholders / 18-000 – 18-010
18-100 – 18-130
18-200 – 18-207
18-330 – 18-387
18-500 – 18-520
Partnerships / 16-000 – 16-090
16-200 – 16-305
Trusts and the Taxation of Children / 17-000 - 17-050
17-060 – 17-260
21-010 – 21-050
Returns, Assessments, Objections and Appeals / 30-000 – 30-467
30-600 – 30-640
31-300 – 31-700
Collection and Recovery / 32-000 – 32-125
32-400 – 32-510
General Anti-Avoidance Provisions / 25-300 – 25-345
25-600 – 25-700
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