UNSW LAW : ATAX0408 - International Tax: Anti-Avoidance

Although not a formal prerequisite, this course follows on from ATAX0320/0420/0520 Principles of Australian International Taxation which deals with basic principles of international taxation.

Units of Credit: 6

Description

International Taxation comprises a complex body of learning which is relevant to any cross border event whether that be in the form of cross border investment or cross border movement of people. This course exposes participants to the main aspects of the law which are relevant specifically to preventing avoidance of taxpayer obligations in respect of Australia's international taxation jurisdiction. The areas covered need to be clearly understood by anyone dealing with cross border income flows in order to avoid inadvertently falling into an unexpected trap created by these provisions.

Objectives

To familiarise students with the basics of the attribution (Controlled Foreign Corporations, Transferor Trusts and Foreign Investment Funds), thin capitalisation, and transfer pricing measures
To provide a detailed study of the attribution rules, focusing on concepts of control, active income and methods of attribution
To provide a brief review of international comparisons of anti-avoidance measures

Main Topics

Taxation of deferred foreign income - an overview
CFC's, control and attributable taxpayers
Active income test
CFC-attributable income
Dividends, exemptions and foreign tax credits
Second tier CFC provisions and deemed dividends
Non resident trusts (excluding FIFs)
Foreign investment funds
Other anti avoidance measures
Record keeping requirements