Handbook

This course predominantly focuses on the income tax considerations of the key entities used in Australia in the closely held sector to carry on business and hold assets: sole traders, partnerships, trusts and companies. The amount of commerce carried on (and assets owned) through these entities is massive. Given the availability of these entities, a key course theme is the choice of entity question that asset owners and business people face just like in the real world. You will learn the relevant tax and key non-tax (general law) considerations that impact this question in a given situation. The focus is on real world scenarios, and will include the key general law factors impacting this decision. To help develop your analytical skills and leadership skills, you will have the opportunity to critique the work of another student, engage in discussions and undertake a structured reflection of your own work. While the course is mainly on the technical tax rules and their application in a given situation, you will be encouraged to consider the broader theme in the background, namely, why do the tax rules generate such different tax outcomes depending on the entity used.