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 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:..........................................................................................................................6
Answer E:...............................................................................................................................7
Answer to question 3:.................................................................................................................7
Answer A:..............................................................................................................................7
Answer B:...............................................................................................................................7
Answer C:...............................................................................................................................8
Answer to D:..........................................................................................................................8

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

3TAXATION LAW
Answer to question 1:
Answer A:
The effective life of the depreciating asset has been discussed under the taxation
ruling of TR 2018/4. The ruling explains the method used by taxation commissioner to
determine the assets effective life under “section 40-100, ITAA 1997” (Blackstone &
Christian, 2014).
Answer B:
Details regarding the claim of tax offset is given in “Division 13, ITAA 1997”.
Answer C:
In the year 2018/19 the highest rate of tax that is applicable on the resident taxpayer of
Australia is
Assessable Income Range Tax rate
180,001 or above 54,097 + 45c for each $1 above 180,000
Answer D:
Capital gains that are made from the assets used privately with the cost of asset is less
than $10,000 ought to be omitted under “section 118-10 (3), ITAA 1997” (Grange et al.,
2014).
Answer E:
CGT event B1 under “section 104-15” is associated with the usage and enjoyment of
the title before it passes (Jover-Ledesma, 2014). A CGT event B1 come about if a taxpayer
enters into the contract with another entity in respect to which there is a right of using and
enjoying the title of the CGT asset that a taxpayer has kept is passed to another entity. A CGT