University of Melbourne - BLAW30002: Principles of Taxation Law I

Why care about tax?

Tax affects everything that you do in life. Whether you’re earning your first paycheck, running a side hustle, buying property, or investing in shares - tax matters. Understanding how tax works in Australia is both useful and empowering. In this video we explain why this is one of the most useful and interesting subjects at university.

Principles of Taxation Law 1 introduces you to the fundamentals of the Australian tax system. You will learn about your responsibilities as a taxpayer, what amounts are subject to tax, what expenses can be claimed as a deduction to reduce the tax that you pay, and how the GST works.

Why Take This Subject?

• Practical Life Skills: Learn things every adult needs to know (but most don’t).

• Career Edge: Tax knowledge is a must-have for careers in accounting, business, finance, law, and entrepreneurship.

• Problem Solving: Apply tax concepts to real-world scenarios.

• Make Sense of the System: Understand how tax affects society, inequality, and government policy.

• Avoid Costly Mistakes: Understand your rights and obligations as a taxpayer.

✔ On completion of this subject, students should be able to:

• Describe and apply the sources of Australian tax law;

• Interpret core tax provisions;

• Apply tax law to common situations (services, business, investments);

• Recognise and assses their own obligations as taxpayers; and

• Examine and explain the role of the ATO and ATO rulings in practice.

SUBJECT CODE

SUBJECT NAME

ACCT10001

Accounting Reports and Analysis

ACCT10002

Introductory Financial Accounting

ACCT20001

Accounting for Management Decisions

ECOM20001

Econometrics 1

ECOM30001

Basic Econometrics

ECOM30002

Econometrics 2

ECON10003

Introductory Macroeconomics

ECON10004

Introductory Microeconomics

ECON10005

Quantitative Methods 1

ECON20002

Intermediate Microeconomics

ECON20003

Quantitative Methods 2

FNCE20005

Corporate Financial Decision Making

FNCE30001

Investments

FNCE30007

Derivative Securities

FNCE40001

Advanced Corporate Finance

MAST10010

Data Analysis

MAST20005

Statistics