Handbook

This is a compulsory capstone course and it builds on the knowledge you have obtained from prior courses. Given this course’s fast pace, broad scope and the expected level of work involved, it is recommended that you take this course at the end of your program of study.

Tax systems are complicated, fast-changing, and critically important to the efficient functioning of a modern economy. To be an outstanding tax professional, it is no longer enough to be technically competent. You must also have a sound grasp of the basic tools of tax policy analysis. This course provides you with those essential tools and it uses an applied approach. It focuses on the Australian tax system and provides an opportunity to apply the tools to current ‘real-world’ tax issues. This will stimulate your thinking as to what constitutes a ‘good tax system’ and how Australia’s current system can be improved.

More specifically, this course introduces you to the criteria that have been used to evaluate tax systems, primarily equity, economic efficiency, and simplicity. You will work through the key features of the Australian tax system and the political process and institutions that are key to introducing and implementing Australian tax law. You will then use the criteria and your understanding of tax policy formulation and implementation as a framework to critically evaluate features of Australia’s current tax system.

This course is problem-oriented and you learn by doing. You are assessed predominantly on your individual research report and individual structured debate. The exam questions are modelled on the issues raised in the course materials, structured debates, and interactive webinar discussions.

The study guide for Tax Policy comprises seven modules:

Module 1: Australian tax system

Module 2: Economic efficiency

Module 3: Equity

Module 4: Political and institutional dimensions

Module 5: Taxation design in an open economy

Module 6: Income and capital taxes

Module 7: Domestic consumption and production taxes