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(Doc) Taxation Law Solved Assignment

   

Added on  2021-05-31

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Running head: TAXATION LAWTaxation LawName of the UniversityName of the StudentAuthors NoteCourse ID
(Doc) Taxation Law Solved Assignment_1

TAXATION LAW1Table of ContentsAnswer 1:...................................................................................................................................2Answer 2:...................................................................................................................................5Answer 3:...................................................................................................................................5Answer 4:...................................................................................................................................6Answer A:..................................................................................................................................6Answer B:...............................................................................................................................7Answer C:...............................................................................................................................8Reference List:...........................................................................................................................9
(Doc) Taxation Law Solved Assignment_2

TAXATION LAW2Answer 1:Issues: The issue introduces here the questions relating to the tax consequences thatoriginates from the private exertion and taxability of the amount received under section 6-5 ofthe ITAA 1997? Laws: An amount that is derived from the personal exertion might be included forassessment in the form of income as the statutory income or the ordinary income. It is worth mentioning that the assessable earnings that an individual earns usuallyranges from benefits, allowances or compensation that originates from the employment orwhere the taxpayers provides the service. The description of “S-6-1 of the ITA Act 1997”states that a person that obtains income from the personal exertion usually signifies incomefrom the wages or salaries (Bankman et al. 2017). The description of the ordinary income isexplained under “S-6-5 of the ITA Act 1997” The commissioner of taxation in “Scott v CT (1935)” provided a well-definedexplanation that income should be treated in compliance with the ordinary concepts of themankind (McGee 2014). The definition that is explained in S-6-5 of the ITA Act 1997”where a person that is obtaining money through the television interview is liable for taxpurpose (Gordon and Keuschnigg 2017). The income are generally classified as the ordinaryincome. Any kind of payment that is received by providing a media interview might or mightnot be held taxable based on the facts of the particular case. This includes the criteria such asquantum of payment is significant it is not simply the nominal sum that paid to the taxpayerso that the taxpayer can cover the cost of the inconvenience (Ramsey 2015). The obligation
(Doc) Taxation Law Solved Assignment_3

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