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:...............................................................................................................................4
Answer F:...............................................................................................................................4
Answer to G:..........................................................................................................................4
Answer H:..............................................................................................................................5
Answer I:................................................................................................................................5
Answer to question 2:.................................................................................................................6
Answer A:..............................................................................................................................6
Answer B:...............................................................................................................................6
Answer C:...............................................................................................................................7
Answer D:..............................................................................................................................7
Answer E:...............................................................................................................................8
Answer to question 3:.................................................................................................................9
Answer A:..............................................................................................................................9
Answer B:...............................................................................................................................9
Answer to C:........................................................................................................................10

2TAXATION LAW
Answer D:............................................................................................................................10
Answer to question 4:...............................................................................................................11
Answer to A:........................................................................................................................11
Answer to B:........................................................................................................................11
Answer to C:........................................................................................................................12
Answer to D:........................................................................................................................12
Answer to E:.........................................................................................................................13
Answer to question 5:...............................................................................................................13
Issue:....................................................................................................................................13
Laws:....................................................................................................................................13
Application:..........................................................................................................................14
Conclusion:..........................................................................................................................15
References:...............................................................................................................................16

3TAXATION LAW
Answer to question 1:
Answer A:
The ruling of TR 2018/4 is concerned with the methodology that is employed by the
taxation commissioner to make the effective determination of the useful life of depreciation
asset under the “section 40-100, ITAA 1997”. It is used to compute the decline in value of
the asset for taxation purpose.
Answer B:
An important explanation has been made under the “Division 13, ITAA 1997”. It
mainly deals with tax offsets that a taxpayer claims under this division.
Answer C:
The highest amount of tax that is applied on the Australian occupant is as follows;
Assessable Earnings Tax (in$)
$180,001 or more $54,097 + 45c for each $1 beyond $180,000
Answer D:
“Section 108-10 (2)” defines collectibles as anything that is kept mostly for personal
usage or the enjoyment. There are special rules that are applicable to collectible this includes
that acquiring collectible for less than $500 and making capital gains or loss thereon is
ignored under “section 118-10 (1), ITAA 1997”1.
1 Campbell, Sam. "Personal liability of a trustee to tax on trust income: Part 1." Taxation in
Australia 53.5 (2018): 263.