Taxation Law

Running head: TAXATION LAW
Taxation Law
Name of the Student:
Name of the University:
Author’s Note

TAXATION LAW
1
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 G:..............................................................................................................................4
Answer to H:..........................................................................................................................5
Answer to 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................................................................................................................8
Answer A...............................................................................................................................8
Answer B...............................................................................................................................9

TAXATION LAW
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Answer C...............................................................................................................................9
Answer D.............................................................................................................................10
Answer to Question 4..............................................................................................................10
Answer A.............................................................................................................................10
Answer B.............................................................................................................................11
Answer C.............................................................................................................................11
Answer D.............................................................................................................................12
Answer E.............................................................................................................................12
Answer to Question 5..............................................................................................................13
Issues...................................................................................................................................13
Laws....................................................................................................................................13
Application..........................................................................................................................14
Conclusion...........................................................................................................................14
Reference.................................................................................................................................15

TAXATION LAW
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Answer to question 1:
Answer A:
The ruling of TR 2018/4 clarifies the methodology that are used by the taxation
commissioner to determine the assets effective life under “section 40-100, ITAA 1997”. The
ruling is useful in computing the effective life of asset that are used to calculate the decline in
value of asset1.
Answer B:
The provision that is set out under the division 13, ITAA 1997 is related to the list of tax
offset.
Answer C:
The Australian resident are taxed on income from all the sources. The top rate of tax that
is applicable to the resident taxpayer during the year 2018/19 is given below;
Taxable Earnings Tax on this income
$180,001 and above $54,097 + 45c for each beyond $1 over
180,000
Answer D:
“Section 108-20 (2), ITAA 1997” explained that the asset which is used or mainly kept
for the personal usage and enjoyment but excludes the land or buildings. There are simple rules
1 Barkoczy, Stephen, Foundations Of Taxation Law 2019 Ebook (OUPANZ, 2018)