Taxation of Financial Instruments

Subject LAWS70212 (2010)

Note: This is an archived Handbook entry from 2010.

Credit Points: 12.50
Level: 7 (Graduate/Postgraduate)
Dates & Locations:

This subject has the following teaching availabilities in 2010:

August, Parkville - Taught on campus.
Pre-teaching Period Start not applicable
Teaching Period not applicable
Assessment Period End not applicable
Last date to Self-Enrol not applicable
Census Date not applicable
Last date to Withdraw without fail not applicable


Timetable can be viewed here. For information about these dates, click here.
Time Commitment: Contact Hours: The total class time is between 24 and 26 hours.
Total Time Commitment: Visit the Melbourne Law Masters website for more information about this subject.
Prerequisites: Visit the Melbourne Law Masters website for more information about this subject.
Corequisites: Visit the Melbourne Law Masters website for more information about this subject.
Recommended Background Knowledge: Visit the Melbourne Law Masters website for more information about this subject.
Non Allowed Subjects: Visit the Melbourne Law Masters website for more information about this subject.
Core Participation Requirements: Visit the Melbourne Law Masters website for more information about this subject.

Contact

For the most up-to-date information about this subject, contact the Melbourne Law Masters Office by email at law-masters@unimelb.edu.au or phone 8344 6190 or alternatively visit the subject website: www.masters.law.unimelb.edu.au
Subject Overview:

This advanced subject examines the Australian tax of financial arrangements (TOFA) and related rules, as well as the basic policy and doctrinal principles relevant to the income tax treatment of financial instruments.

Principal topics will include:

  • General tax policy and financial principles relevant to the income tax treatment of financial instruments
  • Australian tax law applicable to financial instruments including TOFA, Div 16E and other securities provisions, debt/equity rules, finance leases and Div 250
  • Debt-financing techniques, particularly the treatment of interest surrogates and hybrid debt instruments
  • Equity-financing techniques and the classification of instruments as debt or equity
  • Income tax treatment of hedging transactions and synthetic instruments
  • Income tax issues raised by the cross-border use of financial instruments
  • Finance leasing and infrastructure finance.
Objectives:

A student who has successfully completed this subject should:

  • Understand the economic and legal features of financial instruments relevant to the tax system
  • Apply the relevant concepts in working through technical issues raised by the Australian tax law applicable to financial instruments, including tax of financial arrangements (TOFA) legislation and other provisions applicable to securities, hybrid instruments and finance leasing.
  • Reason from first principles in understanding and critiquing legislative design.
Assessment:

Take-home examination (100%) (1-4 October)
Prescribed Texts: Visit the subject website for more information
Breadth Options:

This subject is not available as a breadth subject.
Fees Information: Subject EFTSL, Level, Discipline & Census Date
Generic Skills: Visit the Melbourne Law Masters website for more information about this subject.
Links to further information: http://www.masters.law.unimelb.edu.au/

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