Author Description

Concise Income Tax provides a comprehensive, yet succinct, examination of the most significant areas of taxation law. It identifies the key elements underlying the pertinent statutory provisions, and uses a plain English writing style and simple format which integrates summaries of the leading cases and important judicial statements.Australian tax law has been incredibly dynamic in the three years since the last edition. Almost every chapter in the book is significantly affected, and this third edition has been updated to take account of the developments.Major changes have been made to aspects of Tax Administration such as the taxation penalty regimes, methods of lodging tax returns and types of Rulings issued by the ATO.There has also been a flurry of significant Part IVA (the general anti-tax avoidance provisions) cases, while the introduction of, inter alia, the 'results' test has significantly changed the application of the personal services income regime. Similarly, major changes have occurred in regard to the availability of deductions.The depreciation provisions contained in Div 42 have been included in the general Div 40 capital allowance regime and case law has added to the discussion of the applicability of the form/legal rights and purposes tests.Finally, the Simplified Tax System has also been introduced, impacting on tax accounting, trading stock and depreciation.