Taxation Law

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

TAXATION LAW1
Table of Contents
Answer to question 1:.................................................................................................................2
Answer A:..............................................................................................................................2
Answer B:...............................................................................................................................2
Answer C:...............................................................................................................................2
Answer D:..............................................................................................................................2
Answer E:...............................................................................................................................2
Answer F:...............................................................................................................................3
Answer G:..............................................................................................................................3
Answer H:..............................................................................................................................3
Answer I:................................................................................................................................4
Answer to question 2:.................................................................................................................4
Answer to question 3:.................................................................................................................6
Answer to question 4:...............................................................................................................10
Answer to A:........................................................................................................................10
Answer to B:........................................................................................................................10
Answer to C:........................................................................................................................11
Answer to D:........................................................................................................................12
Answer to question 5:...............................................................................................................12
Answer A:............................................................................................................................12
Answer B:.............................................................................................................................13

TAXATION LAW2
Answer C:.............................................................................................................................14
Answer to D:........................................................................................................................14
Answer to E:.........................................................................................................................14
References:...............................................................................................................................16

TAXATION LAW3
Answer to question 1:
Answer A:
The topic that is covered under the “Taxation Ruling of TR 2019/1” is the view of
commissioner when the company conducts its business within the definition of small business
entity give in s-23, ITRA 1986 as pertinent for 2015-16 and 2016-17 income years. It also
includes the views of commissioner under s-328-110, ITAA 19971.
Answer B:
The legislature that relates to claiming deduction for gifts and contribution is given in
Div-30, ITAA 19972.
Answer C:
For a tax payer who is treated as the resident in the present income year, a top
marginal tax rate of 45 per cent will be applicable.
Answer D:
The motor cycle or car is watched as personal use asset under “s-108-20, ITA Act
1997”. Hence, any capital gains made thereon from its disposal is not exempted from CGT3.
Answer E:
1 Taxation Ruling of TR 2019/1
2 Division 30, Income Tax Assessment Act 1997 (Cth).
3 Sec-104-20, Income Tax Assessment Act 1997 (Cth).