12 Taxation law Cases and Statues exam prep

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1. GENERAL PRINCIPLES 2 (1) LEGISLATIVE FRAMEWORK 2 (2) CONCEPT OF INCOME 3 (3) RESIDENCE 4 (4) SOURCE 6 (5) DERIVATION 7 (6) EXEMPT INCOME 9 2. INCOME FROM PERSONAL SERVICES 10 (1) INCOME ACCORDING TO ORDINARY CONCEPTS 10 (2) RESTRICTIVE COVENANTS 11 (3) RELEVANT STATUTORY PROVISIONS 11 (4) FRINGE BENEFITS TAX ASSESSMENT ACT 1986 12 3. INCOME FROM PROPERTY 13 (1) ANNUITIES 13 (2) ROYALTIES 14 (3) INTEREST 15 (4) LEASE AND RENTAL INCOME 16 4. INCOME FROM A BUSINESS 17 (1) CONCEPT OF A BUSINESS 17 (2) TAXATION OF BUSINESS INCOME 17 (3) TRADING STOCK 20 (4) COMPENSATION 21 5. CAPITAL GAINS TAX 24 (1) STRUCTURE OF INCOME TAX ASSESSMENT ACT 1997 24 (2) CGT EVENTS 24 (3) MEANING OF CGT ASSETS 24 (4) COST BASE 25 (5) CAPITAL PROCEEDS 25 (6) CALCULATION OF CAPITAL GAIN/LOSS 25 (7) EXEMPTIONS 25 (8) SPECIFIC TOPICS 25 6. ALLOWABLE DEDUCTIONS 26 (1) GENERAL DEDUCTIONS 26 (2) REPAIRS 30 (3) CAPITAL ALLOWANCES 31 (4) BAD DEBTS 31 (5) LOSSES 32 7. TAXATION OF COMPANIES AND SHAREHOLDERS 32 (1) DEFINITION OF "DIVIDEND" 32 (2) TAXATION OF SHAREHOLDERS 32 (3) DEEMED DIVIDENDS 33 (4) OPERATION OF IMPUTATION 33 8. PARTNERSHIPS 34 (1) DEFINITION OF "PARTNERSHIP" 34 (2) TAXATION OF PARTNERSHIP INCOME 34 (3) APPLICATION OF CAPITAL GAINS TAX TO PARTNERSHIPS 34 9. TRUSTS AND THE TAXATION OF CHILDREN 34 (1) CONCEPT OF A TRUST 34 (2) TAXATION OF TRUST INCOME 35 (3) REVOCABLE TRUSTS AND TRUSTS FOR MINORS 35 (4) TAXATION OF INCOME OF CHILDREN 36 10. GOODS AND SERVICES TAX 36 (1) TAXABLE SUPPLIES 36 (2) GST-FREE SUPPLY 36 (3) INPUT TAXED SUPPLY 37 (4) CREDITABLE ACQUISITION 37 (5) IMPORTATIONS 37 (6) ADMINISTRATION & INTERACTION WITH INCOME TAX 37 11. RETURNS, ASSESSMENTS, OBJECTIONS AND APPEALS 38 (1) OBLIGATION TO LODGE INCOME TAX RETURN AND GST RETURN 38 (2) ASSESSMENT/AMENDED ASSESSMENT 38 (4) OBJECTIONS 38 12. COLLECTION AND RECOVERY 39 (1) POWERS OF THE COMMISSIONER 39 (2) RECOVERY OF UNPAID TAX 39 (3) INCOME TAX - PAY-AS-YOU-GO (PAYG) 40 13. GENERAL ANIT-AVOIDANCE PROVISIONS AND ETHICS 40 (1) FORM VERSUS SUBSTANCE IN INTERPRETING LEGISLATION 40 (2) INCOME TAX ASSESSMENT ACT 1936, PT IVA 40 (3) ETHICS 41