Taxation Law 2022 Question Answer

Running head: TAXATION LAW
Taxation Law
Name of the Student:
Name of the University:
Author Note

TAXATION LAW1
Table of Contents
Answer to Question 1:................................................................................................................3
Answer to part A:...................................................................................................................3
Answer to part B:...................................................................................................................3
Answer to part C:...................................................................................................................3
Answer to part D:...................................................................................................................4
Answer to part E:...................................................................................................................4
Answer to part F:....................................................................................................................4
Answer to part G:...................................................................................................................4
Answer to part H:...................................................................................................................5
Answer to part I:.....................................................................................................................6
Answer to Question 2-...............................................................................................................7
Answer to Question 3:................................................................................................................9
Answer to Question 4:..............................................................................................................13
Answer to part A:.................................................................................................................13
Answer to part B:.................................................................................................................14
Answer to part C:.................................................................................................................14
Answer to part D:.................................................................................................................15
Answer to Question 5-.............................................................................................................15
Answer to part A:.................................................................................................................15
Answer to part B:.................................................................................................................16

TAXATION LAW2
Answer to part C:.................................................................................................................16
Answer to part D:.................................................................................................................17
Answer to part E:.................................................................................................................17
References:...............................................................................................................................18

TAXATION LAW3
Answer to Question 1:
Answer to part A:
Generally an organization which perform its business operation as a small business
entity followed the viewpoints of a tax commissioner under “Sec-23 of the Income Tax Rates
Act 1986”, which is allocable from the FY 2015-16 and 2016-17 or followed the “sec-328-
110, ITAA 1997”1.
Answer to part B:
Gift or any contribution made by relatives allowed for deduction in order such gift or
contributing must be consider as donation followed “Division 30, ITAA 1997”.
Answer to part C:
An Australian residents stands to 45% (excluding Medicare levy of 2%) for the year
2019-20 as the highest amount of marginal.
Taxable Income Tax on Taxable Income
0 - $18,200 Nil
$18,201 - $37,000 19c for each $1 above $18,200
$37,001 - $90,000 $3,572 plus 32.5c for each above $1 over
37,000
$90,001 - $180,000 $20,797 plus 37c for each $1 above $90,000
$180,001 and above $54,097 plus 45c for each $1 above
$180,000
1 Barkoczy, Stephen, and Tamara Wilkinson. "Australia’s Formal Venture Capital Tax Incentive
Programs." Incentivising Angels. Springer, Singapore, 2019. 29-39.