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

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

3TAXATION LAW
Answer to question 1:
Answer A:
The taxation ruling of TR 2018/4 provides an explanation to the methodology that is
used by the Commissioner of Taxation to ascertain the effective life of the depreciating assets
under the “section 40-100 of the ITAA 1997”1.
Answer B:
Division 13 of the ITAA 1997 provides the details about the tax offsets.
Answer C:
The top rate of tax that are applicable to the individual taxpayer who is the resident of
Australian is given below
Taxable Income Bracket Tax ($)
180,001 & over 54,097 plus 45c for each $1 over 180,000
Answer D:
There are exemptions which allows the capital gains or loss to be lowered, deferred or
disregarded. The assets include collectables that are purchased or acquired for less than $500
will be considered for exemption purpose from the provision of CGT under the legislative
provision of “section 118-10(1) of the ITAA 1997”2.
1 Woellner, Robin, et al. "Australian Taxation Law 2016." OUP Catalogue (2016).
2 Barkoczy, Stephen. "Foundations of taxation law 2016." OUP Catalogue (2016).