UI Income Taxation in Australia Tax Legislation & ATO Administrative Guidance Essay.
The essay must be no more than 2,000 words in content excluding footnotes.
The essay must be type written (double spaced on one side of A4 paper), a font size of not less than 12 must be used, and a word count must be shown at the end of the essay.
- The extent to which the essay identifies relevant income tax issues and sets out sound reasoning in support of the discussion.
- The extent to which the essay demonstrates research into relevant topics of the income tax law, including having references to relevant sections of the tax legislation, applicable case law and ATO administrative guidance. The essay should include at least three references to materials that have been accessed from the Tax Institute’s Tax Knowledge eXchange database. For example, this can include articles from journals Taxation in Australia, The Tax Specialist and Australian Tax Forum.
- Whether the essay is easy to read and understand. Ease of reading can be achieved by the use of headings and sub-headings.
- The issue of tax avoidance
- A broad based income tax is preferred. Why?
- A progressive tax system is a fair system, but may involve a loss of efficiency. Why? How can this loss of efficiency be overcome?
- Saving and investment concessions: should be taxed less to encourage savings and less reliance on government provision of pensions.
- How should Australia set its tax rates?
- What has happened in Australia? Do we have a fair system in the light of possible tax reforms?
- Governments: How do the competing aims of government impact on taxation? Do they favour certain groups for political reasons?
- What of government reviews? Were their suggestions implemented?
- What were the different government inquiries?
- What is the role of tax professionals? Do they always act ethically?
- Tax administrators: how effective are they?
- Taxpayers: do they believe they are being treated fairly?
Critically research and discuss one of the issues raised.
In your discussion, ensure that you:
- Explain the taxation issue – state the current taxation system and identify what is lacking or needs improvement
- Explain the reform proposal – identify an alternative improved system and why it would be recommended over the current system
- Explain how the reform measure meets taxation design principles – equity, efficiency, simplicity, sustainability and policy consistency.
- Barriers – outline the barriers you see to the reform measure proposal being successfully introduced.