BLAW30002 Study Guide - Final Guide: Lexcorp

• School: University of Melbourne
• Department: Business Law
• Course: BLAW30002
• Professor: Sunita Jogarajan

Document Summary

Understand the structure of the course and the expectations of students in blaw 30002. Understand who has the power to tax and the sources of australian taxation law. Thursdays 1pm-2pm (room 221) & 3:15pm-4:15pm (room 221) [nb: this week"s tutorial questions are more discussion based and not the usual hypothetical questions that we will be doing throughout the semester. Two weeks ago, the ato responded to your private ruling request and advised that the amount was not assessable income to luthor corp (ie. you are not required to pay tax on the income). The federal court held that such an incentive payment was assessable income (ie. the company had to pay tax on the income): how will you treat the incentive payment received in luthor corp"s upcoming tax return, how would you proceed if the private ruling said the amount was assessable but the federal.