Foundations of Taxation Law 2021

An introduction to the policy, principles and practice of the Australian taxation system.Foundations of Taxation Law 2021 provides a clear and concise introduction to the policy, principles and practice underpinning the Australian federal taxation system. It is designed to progressively build the reader’s understanding of taxation law, helping to navigate the complex legislation that governs its operation.This thirteenth edition has been substantially revised to take into account many important legislative reforms, common law developments, administrative changes and policy announcements that have occurred since the previous edition. In particular, it includes extensive analysis of the taxation stimulus measures introduced by the Government to deal with the economic effects of the coronavirus pandemic, the imputation changes arising from the new corporate tax rate for base rate entities, the proposed reforms to the research and development tax incentive, and the Board of Taxation’s recommendations for changes to the residency rules for individuals. There is also an update at the front of the book, which outlines the important tax changes announced in the October 2020 Federal Budget.It also has a more in-depth policy and technical discussion on several areas of law, along with many new diagrams, examples, and a more user-friendly index.NEW CASES TO THIS EDITION INCLUDE:FC of T v AddyBosanac v FC of TBurton v FC of TGreig v FC of TMussalli & Ors v FC of TFC of T v Sharpcan Pty LtdMoreton Resources Ltd v ISA.Use in conjunction with the Core Tax Legislation and Study Guide 2021 for legislative provision extracts and the Australian Tax Casebook, 15th edition for summaries of the cases covered in this text.

Table of Contents:
PART A: INTRODUCTION TO TAXATION AND AUSTRALIA’S TAX SYSTEM1. Taxation Principles and Theory2. Tax Law Research and Interpretation3. Constitutional Framework of the Australian Tax System4. Australian Taxes5. Tax Policy, Politics and Reform6. The Australian Taxation Office and the Tax ProfessionPART B: GOODS AND SERVICES TAX7. Goods and Services TaxPART C: INCOME TAX8. Income TaxPART D: GENERAL JURISDICTIONAL RULES9. Residence and SourcePART E: INCOME10. Ordinary Income11. Statutory Income12. Exempt Income and Non-Assessable Non-Exempt IncomePART F: DEDUCTIONS13. General Deductions14. Specific Deductions15. Provisions that Deny or Limit DeductionsPART G: ASSET TAXATION RULES16. Capital Write-Offs17. Trading Stock18. Capital Gains TaxPART H: FRINGE BENEFITS, SUPERANNUATION, AND EMPLOYMENT19. Fringe Benefits Tax20. Superannuation21. Termination and Unused Leave Payments22. Employee Share SchemesPART I: SPECIAL ENTITIES23. Small Business Entities, Primary Producers and Special Professionals24. Companies25. Partnerships26. Trusts27. Special Corporate, Partnership and Trust Entities28. Consolidated GroupsPART J: TAX LOSSES29. Tax LossesPART K: TAX INCENTIVES AND RELIEFS30. Investment Incentives31. Business and Entity Restructure ReliefPART L: FINANCIAL TRANSACTIONS32: Financial Transaction RegimesPART M: INTERNATIONAL TRANSACTIONS33. International Taxation34. Double Taxation Agreements35. Tax Havens, Base Erosion and Profit Shifting and International Tax Enforcement36. Transfer Pricing37. Withholding Taxes38. Accruals Taxation39. Foreign ExchangePART N: TAX AVOIDANCE40. Tax Avoidance41. General Anti-Avoidance Provisions42. Income Alienation Anti-Avoidance ProvisionsPART O: TAX ADMINISTRATION43. Income Tax Returns, Assessments, Rulings, Appeals and Audits44. Identification and Payment Systems45. Tax Record-Keeping, Reporting and Recovery46. Tax Penalties and Offences

About the Author :
Stephen Barkoczy is a Professor at School of Law, Monash University.