This is a comprehensive compilation of notes for the University of Queensland's LAWS3101 (Income Tax Law) subject.

These notes were created by synthesising textbook readings, lecture notes and additional in-lecture explanations. They would be of great assistance for both study purposes and particularly useful in the final exam.

The notes were primarily written to enable the quick and easy application of the ILAC answer format during the final exam.

In total the notes are 114 pages broken down into 8 sections based on each main topic / body of Law covered in the course, these being;
1. Residence & Source, 2. Income (2 parts), 3. Capital Gains Tax (CGT), 4. Deductions, 5. Income Tax Accounting & Trading Stock, 6. The Tax Assessment, 7. Goods & Services Tax (GST), 8. Fringe Benefits Tax (FBT). There is also a table of contents included for quick navigation of the notes during the final exam.

In order to permit the quick and easy application of the ILAC answer format during the final exam each section is structured into 3 columns, these being:
- "Sub Topic": (for navigation purposes): States main body of law within particular section (e.g. Within 'Income' headings include; Ordinary Income, Prerequisites, Characteristics, etc.)
- "Notes": Essentially provides the "Law" section that would be included within a standard ILAC answer, including relevant definitions, section numbers, cases and other useful information.
- "Legislation / Case": Provides the name of cases/legislation that are applicable and should be considered for each Area/Sub-Area of law with a small explanation of what the case relates to. E.g. Within 'Income': "[FCT v Cooke and Sherden] – Soft drink sellers, holiday nontransferable = not cash convertible" or "[Hochstrasser v Mayes] – Taxpayer compensated by employer for loss on work related sale of home. (not real gain; compensated for a work-related expense)."

(See sample notes for a better understanding)

During the final exam - with the assistance of this information - a student need only read the question, determine the apparent issue (Issue). Using the included table of contents, find within these notes the area of law that is applicable, navigate to this section and write down the applicable law from the "Law" column including the name of applicable cases/legislation found directly across in the "Cases/Legislation" column (Law). And then continue, using the information stated in the Law section taken from these notes, apply the facts of the situation to the law (Application) and draw a conclusion (Conclusion), producing a high quality ILAC answer.


Semester 2, 2014

114 pages

25,927 words



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UQ, St Lucia

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November 2013