Taxation Law

Running head: TAXATION LAW
Taxation Law
Name of the Student
Name of the University
Authors Note
Course ID

1TAXATION LAW
Table of Contents
Answer to question 1:.................................................................................................................3
Answer A:..............................................................................................................................3
Answer B:...............................................................................................................................3
Answer C:...............................................................................................................................3
Answer D:..............................................................................................................................3
Answer E:...............................................................................................................................3
Answer F:...............................................................................................................................4
Answer G:..............................................................................................................................4
Answer H:..............................................................................................................................4
Answer I:................................................................................................................................5
Answer to question 2:.................................................................................................................5
Answer to A:..........................................................................................................................5
Answer to B:..........................................................................................................................5
Answer to C:..........................................................................................................................6
Answer to D:..........................................................................................................................7
Answer E:...............................................................................................................................7
Answer to question 3:.................................................................................................................8
Answer A:..............................................................................................................................8
Answer B:...............................................................................................................................8
Answer C:...............................................................................................................................9

2TAXATION LAW
Answer to D:..........................................................................................................................9
Answer to question 4:...............................................................................................................10
Answer A:............................................................................................................................10
Answer B:.............................................................................................................................10
Answer C:.............................................................................................................................11
Answer D:............................................................................................................................11
Answer E:.............................................................................................................................12
Answer to question 5:...............................................................................................................12
Issues:...................................................................................................................................12
Laws:....................................................................................................................................12
Application:..........................................................................................................................13
Conclusion:..........................................................................................................................14
References:...............................................................................................................................15

3TAXATION LAW
Answer to question 1:
Answer A:
The “Taxation Ruling of TR 2018/1” is the public ruling where the opinions
regarding the determination of effective life of asset that are depreciating in nature are
explained in “section 40-100, ITAA 1997”1.
Answer B:
As it has been defined under the “Division 13, ITAA 1997” an individual taxpayer is
allowed claim tax offsets under this division.
Answer C:
On the Australian resident the highest tax rate that is applied is 54,097 + 45c for each
$1 above 180,000.
Answer D:
As defined under the “Section 108-10 (2)” collectibles as something that is kept for
personal use and enjoyment. Under first element of “section 118-10 (1), ITAA 1997”
collectibles must be disregarded from capital gains tax where the cost is less than $500.
Answer E:
As it has been elucidated in “section 104-15” it mainly involves the use of title before
it is passed to others. When a person forms an agreement with alternative person where the
right of use of CGT asset title is passed to alternative entity then a CGT event B1 happens.
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