HD (81) Exam Notes - LAW4704 Taxation Law (with full script)

Description

Very comprehensive Taxation Law exam notes that enabled me to get a HD (81) for the subject. The notes contain all topics, a full script, colour-coded cases and legislation, and counter arguments. The structure of the notes are separated into possible transactions, and then numerically ordered by the resulting issues/steps. The notes are ultimately organised in an order leading to an income tax calculation. Topics covered: 1. Outgoing transactions (Purchasing) - a. Purchase of an asset - b. Purchase of trading stock - c. Payment of interest - d. Purchase of shares - e. Payment of a dividend - f. Payment of damages - g. Borrowing to purchase a business - h. Purchasing a business 2. Incoming transactions (Selling) - a. Sale of an asset - b. Sale of trading stock - c. Sale of a depreciating asset - d. Receiving a dividend - e. Capital reduction 3. Superannuation - a. Concessional contributions -- i. Employer contributions for employees -- ii. Personal contributions with notice -- iii. Excess concessional contributions -- iv. Div 293 tax -- v. Govt co-contribution -- vi. Carry forward up to 5 years - b. Non-concessional contributions -- i. Personal contributions without notice -- ii. Spouse contributions -- iii. Excess non-concessional contributions -- iv. Govt co-contribution - c. Tax payable by super funds 4. Tax rates 5. Income tax calculation - a. Medicare levy - b. Medicare levy surcharge - c. Tax offsets - d. HELP repayment 6. Accounting for GST and ITCs 7. Tax calculation template