3,000 words)

You are required to prepare a written research assignment that addresses one of the provided topics below. The purpose of the task is for you to demonstrate high level critical reflection and analytical reasoning skills in the context of the application of Australian taxation law and taxation law policy. You must undertake academic research which demonstrates the following: An in-depth understanding of how the specific tax law applies, The policy context of the law and if relevant how other jurisdictions deal with similar issues, Critical reflection as to whether the law achieves its stated purpose, aligns with principles of good tax policy or could be improved/amended. These critical reflections should be supported by the research you have undertaken as well as your own independent thought.

topic

Alignment of tax and accounting rules Briefly outline how and why taxable income and accounting profit are not aligned in Australia; Discuss and critically evaluate the advantages and disadvantages of more closely aligning the tax and accounting rules in Australia; Compare the Australian rules to the rules in one other country; Conclude as to whether the Australian accounting and tax rules should be more closely aligned.