Taxation of Major Projects

This subject has the following teaching availabilities in 2015:

The pre-teaching period commences four weeks before the subject commencement date. From this time, students are expected to access and review the Reading Guide that will be available from the LMS subject page and the subject materials provided by the subject coordinator, which will be available from Melbourne Law School. Refer to the Reading Guide for confirmation of which resources need to be read and what other preparation is required before the teaching period commences.

Applicants without legal qualifications should note that subjects are offered in the discipline of law at an advanced graduate level. While every effort will be made to meet the needs of students trained in other fields, concessions will not be made in the general level of instruction or assessment. Most subjects assume the knowledge usually acquired in a degree in law (LLB, JD or equivalent). Applicants should note that admission to some subjects in the Melbourne Law Masters will be dependent upon the individual applicant’s educational background and professional experience.

The Melbourne Law Masters welcomes applications from students with disabilities. The inherent academic requirements for study in the Melbourne Law Masters are:

• The ability to attend a minimum of 75% of classes and actively engage in the analysis and critique of complex materials and debate;
• The ability to read, analyse and comprehend complex written legal materials and complex interdisciplinary materials;
• The ability to clearly and independently communicate in writing a knowledge and application of legal principles and interdisciplinary materials and to critically evaluate these;
• The ability to clearly and independently communicate orally a knowledge and application of legal principles and interdisciplinary materials and critically evaluate these;
• The ability to work independently and as a part of a group;
• The ability to present orally and in writing legal analysis to a professional standard.

Students who feel their disability will inhibit them from meeting these inherent academic requirements are encouraged to contact the Disability Liaison Unit: www.services.unimelb.edu.au/disability/

This subject will examine the operation of the taxation of major infrastructure projects in Australia. It will examine the taxation and non-taxation factors that impact on choice of structure for such projects, issues concerning investment in such projects and the application of tax incentives designated as applying to major infrastructure projects. It will also consider other issues associated with depreciation and restrictions that may operate to influence how these projects are put into operation.

Principal topics include:

• Project structures
• Factors influencing structure
• Investment issues: deduction issues, debt/equity levels, thin cap etc
• Tax incentives for infrastructure projects
• Restrictions on loss flow-through
• Depreciation and owner/holder issues
• Division 250
• Other restrictions on owner/holder status
• Non owner/holder structures
• Tax risk sharing.

A student who has successfully completed this subject will:

• Have an advanced and integrated understanding of the tax law and policy as it applies to major infrastructure projects in Australia
• Be able to critically examine, analyse, interpret and assess the effectiveness of these laws and policies
• Be an engaged participant in debate regarding emerging and contemporary issues in the field of taxation of infrastructure projects
• Have a sophisticated appreciation of the factors and processes driving change in this area
• Have an advanced understanding of the latest developments and trends in laws dealing with taxation of major projects
• Have the cognitive and technical skills to generate critical and creative ideas relating to laws and policies dealing with taxation of major infrastructure projects, and to evaluate them
• Have the cognitive and technical skills to independently examine, research and analyse the key elements and features of the tax law as it applies in the context of infrastructure development
• Have the communication skills to clearly articulate and convey complex information regarding taxation of major infrastructure projects to relevant specialist and non-specialist audiences
• Be able to demonstrate autonomy, expert judgment and responsibility as a practitioner and learner in the field of taxation of major projects.

• Assignment (30%) (28 September)
• Take-home examination (70%) (16-19 October)
  or
• 7,000 word research paper (70%) (9 December)

A minimum of 75% attendance is a hurdle requirement.

Core subject materials will be provided free of charge to all students. Some subjects require further texts to be purchased. Details regarding any prescribed texts will be provided prior to the commencement of the subject.

This subject is not available as a breadth subject.

Core subject materials will be provided free of charge to all students. Some subjects require further texts to be purchased. Details regarding any prescribed texts will be provided prior to the commencement of the subject.