Taxation Law Assignment | ITAA 1997
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Added on 2020-04-07
Taxation Law Assignment | ITAA 1997
Added on 2020-04-07
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Running head: TAXATION LAWTaxation LawName of the UniversityName of the StudentAuthors Note
1TAXATION LAWTable of ContentsAnswer to Question 1:................................................................................................................3Issue:..........................................................................................................................................3Laws:..........................................................................................................................................3Applications:..............................................................................................................................3Conclusion:................................................................................................................................4Answer to Question 2:................................................................................................................6Issue:..........................................................................................................................................6Laws:..........................................................................................................................................6Application.................................................................................................................................6Application:................................................................................................................................7Conclusion:................................................................................................................................7Answer to Question 3.................................................................................................................9Issue:..........................................................................................................................................9Laws:..........................................................................................................................................9Application:................................................................................................................................9Conclusion:..............................................................................................................................10Answer to Question 4:..............................................................................................................12Answer to Question 5:..............................................................................................................14Issue:........................................................................................................................................14Laws:........................................................................................................................................14
2TAXATION LAWApplication:..............................................................................................................................14Conclusion:..............................................................................................................................15References:...............................................................................................................................16
3TAXATION LAWAnswer to Question 1:Issue:This issue in the case deals with the determination of capital gains or losses which isderived from sale of assets from section 108-20 of the ITAA 1997. Laws:i.Section 108-20 of the ITAA 1997ii.Section 108-10 of ITAA 1997Applications:Under section 108-20 of the ITAA 1997, loss of $1,000 is incurred for sale of soundsystem which cannot be permitted for the considered set off, as no losses can be considered
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