Key Principles of Taxation Law - Essay writing - Law Assignment Help

Assignment Task:

UNIT RATIONALE, DESCRIPTION and AIM:
There are two major reasons for business students to learn about taxation. First, business is subject to income tax, and to function in the business environment, it is useful to know some basic principles of taxation law. Second, one of the major fields of accounting and financial practice is taxation law. Against this background the unit examines taxation imposed by statute, the Income Tax Assessment Act 1997 and the Income Tax Assessment Act 1936. It also looks at other taxes such as the Good and Services Tax (GST) and Fringe Benefits Tax (FBT). The unit also examines the key principles relating to taxation law in Australia, in particular, what is income, what is deductible, how various entities are taxed and the administration of the taxation system and the impact of tax offsets.

LEARNING OUTCOMES
On successful completion of this unit, you should be able to:
1. demonstrate an understanding of and explain the key principles of taxation law in respect to income tax, Capital Gains Tax, GST and FBT; 
2. demonstrate an understanding of and assess and give basic advice on how the law may be applied to different taxation problems; 
3. use taxation law databases, textbooks and the internet to obtain answers to different practical problems;
4. demonstrate an understanding of and explain the taxation treatment of different taxation entities and learn to develop appropriate tax management strategies for business and other entities.

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