A comprehensive guide to the principles and practice of taxation law.

Australian Taxation Law 2021 provides a comprehensive analysis of relevant legislation, case law and rulings, and a conceptual framework within which to assess topical tax issues. This leading text covers income tax (including the taxation of capital gains), superannuation, goods and services tax, fringe benefits tax and state taxes, as well as international taxation and the operation of the tax administration system.  

This text provides extensive expert analysis of the latest legislative provisions, case law developments and rulings, administrative reforms and policy announcements. It has been designed to help students navigate the complexities of taxation law and includes practical examples that will help them learn how to apply the law to real-life situations.

NEW TO THIS EDITION:

• Updated data, cases, legislation, tax rates for the 2020/21 financial year and calculation of penalties
• Discussion on:
  
  • Possible impacts of COVID-19 on tax reform
  • Changes to the concessions available to small businesses
  • Removal of the CGT main residence exemption for foreign residents
  • Changes in the way business is conducted in the digital age: Skourmalls v FCT
  • ATO power to recover estimates of tax liability has been extended to the GST system
  • Changes introduced by the Treasury Laws Amendment (Combating Illegal Phoenixing) Act 2020
  • Departure Prohibition Orders: Moltoni
  • Developments in residence of individuals: Harding
  • The backpackers tax: Addy
  • New deductions cases: Greig, Mussalli, Sharpcan.

1. Introduction to Income Tax Law
2. Tax Formula, Tax Rates and Tax Offsets
3. Assessable Income: General Principles
4. Income from Personal Exertion
5. Income from Property
6. Income from Business
7. Capital Gains Tax: General Topics
8. Capital Gains Tax: Concessions and Special Topics
9. Non-Assessable Income
10. General Deductions
11. Specific Deductions
12. Capital Allowances and Capital Works
13. Tax Accounting
14. Trading Stock
15. Small Business Entities and Concessions
16. Taxation of Partnership Income
17. Taxation of Trust Income
18. Taxation of Corporate Tax Entities and their Members
19. Corporate Tax Losses, Net Capital Losses and Bad Debt
20. Taxation of Consolidated Groups
21. Special Taxpayers and Incentive Schemes
22. Taxation of Financial Transactions
23. Superannuation
24. International Aspects
25. Tax Evasion, Avoidance, and Planning
26. Fringe Benefits Tax
27. Goods and Services Tax
28. State Taxes
29. Administrative Aspects of Taxation
30. Tax Rulings, Tax Returns, and Assessments
31. Challenging an Assessment
32. Collection and Recovery of Tax
33. Offences, Penalties and Regulation of Tax Practitioners
34. Rates and Tables

Table of Cases
Decisions of Boards of Review and AAT Table of Legislation
Table of Rulings
Index

Robin Woellner is Adjunct Professor in the School of Law at James Cook University, and the School of Taxation and Business Law at UNSW Sydney.

Stephen Barkoczy is Professor and Associate Dean (Engagement) in the Faculty of Law at Monash University.

Shirley Murphy is Adjunct Lecturer in the Department of Accounting and Corporate Governance at Macquarie University.

Chris Evans is Professor in the School of Taxation and Business Law at UNSW Sydney.

Dale Pinto is Professor in the Curtin Law School and the Chair of the Academic Board at Curtin University.