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

2TAXATION LAW
Answer to D:..........................................................................................................................8
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:....................................................................................................................................11
Applications:........................................................................................................................12
Conclusion:..........................................................................................................................13
References:...............................................................................................................................14

3TAXATION LAW
Answer to question 1:
Answer to A:
The taxation ruling TR 2018/14 covers the topic related to useful life of depreciable
assets within “section 40-100, ITAA 1997”1.
Answer to B:
Matters relating to the tax offsets are given under the Division 13, ITAA 19972.
Answer to C:
The highest rate of tax that is applied on the resident taxpayer during the year 2018/19
is as follows;
Limit of Assessable Income Tax ($)
$180,000 and over $54,097 + 45c for each $1 over $180,000
Answer to D:
Personal use assets under “section 118-10 (3) of the ITAA 1997” that are acquired at
$10,000 or less must be ignored from the capital gains tax.
1 "Ato.Gov.Au", Ato.Gov.Au (Webpage, 2019) <https://www.ato.gov.au/law/view/document?
DocID=TXR%2FTR20184%2FNAT%2FATO%2F00001>
2 "INCOME TAX ASSESSMENT ACT 1997 - SECT 13.1List Of Tax
Offsets", Classic.Austlii.Edu.Au (Webpage, 2019)
<http://classic.austlii.edu.au/au/legis/cth/consol_act/itaa1997240/s13.1.html>