Taxation Law Study Material

Taxation Law

Contents
Question 1........................................................................................................................................3
Question 2........................................................................................................................................3
Question 3........................................................................................................................................3
Question 4........................................................................................................................................4
Question 5........................................................................................................................................5
REFERENCES................................................................................................................................6

Question 1
Scenario 1:
In this case the total of John’s invalid tax offset is $ 116000 as the $4000 will be totally
exempted from tax as Paul is disable person and any income to these individual are totally free
for tax deductions.
Scenario 2:
When the adjustable income of John is $63000 and the adjustable income of Paul is $900 and the
total taxable income of John is $120000 than invalid tax offset for the respective financial year
will be $56,100 (Invalid and invalid carer, 2019).
Scenario 3:
In case if Paul is sick for the period and not receiving any income than only income of John will
be consider while calculating the invalid tax offset. The total taxable income is $120000 and the
adjusted taxable income is $41000 so the total offset amount for the period will be $79000.
Question 2
In relation to voluntary deductions, optional repayments make growing salary packaging.
Oliver still has to consider making an enforced interest payment for his renaming income is over
the minimum return cut-off for a year of income. This is part of your evaluation notification and
Oliver enters a pension contribution configuration, which will provide with a marginal benefit.
Already when users join into this agreement, then he could also receive financial advice. Any
voluntary reimbursement by Oliver from employer shall not be deductible from tax. He can be
entitled to assert a tax exemption if the company accepts discretionary contributions on the
behalf. The company can also reimburse the interest payments also for Fringe Profit Tax. Such a
payment is not a correlating data to contribute to making surrender of salary when guide
companies shall pay to a 3rd person from Oliver earnings (for instance to pay monthly premium,
credit reimbursement, pension contributions or conditional card repayment). Such fees by third
parties are provided to the after-tax or total income numbers. Division 7A is applicable to certain
payments received to a listed company or identify of a private firm by board members where
even the firm at current situation has a right to a net earnings including its trust property, as well
as the amount owed is not compensated by a particular date. Once Oliver files his tax return or
foreign profits, an automatic rebate or overseas fee may be provided in a confirmation