BULAW3731 Introduction to Income Tax Law

Preliminary matters
• Content of course
• Books
• Lectures + tutorials
• Assessment
• Overview of this topic
• Reading for this topic

1. Historical background
   • Deeply rooted in history
   • 1915-1942
   • 1942
   • More recent events
2. Functions of tax
   • Revenue raising
   • Social and political
   • Redistribution
3. ‘Categorising’ Taxes
   Proportional Progressive Regressive
4. Features of a good tax system
   • Simplicity
   • Efficiency
   • Flexibility
   • Neutrality
   • Equity
5. Sources of tax law
   In Australia, there is primarily:
   • Statute Law
   • Common Law
   • Tax Rulings
6. Constitutional aspects
   • S51(ii)
   • S90
   • s109
7. Commonwealth taxes
   • Income tax
   • Payable by individuals & other entities (such as
   companies and trusts)
   • Rates depende
   

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