Taxation Law

Running head: TAXATION LAW
Taxation Law
Name of the Student
Name of the University
Authors Note
Course ID

TAXATION LAW1
Table of Contents
Answer to question 1:.................................................................................................................3
Answer to A:..........................................................................................................................3
Answer B:...............................................................................................................................3
Answer C:...............................................................................................................................3
Answer D:..............................................................................................................................3
Answer E:...............................................................................................................................3
Answer F:...............................................................................................................................4
Answer G:..............................................................................................................................4
Answer H:..............................................................................................................................4
Answer I:................................................................................................................................5
Answer to question 2:.................................................................................................................5
Answer A:..............................................................................................................................5
Answer B:...............................................................................................................................5
Answer C:...............................................................................................................................6
Answer D:..............................................................................................................................6
Answer E:...............................................................................................................................7
Answer to question 3:.................................................................................................................7
Answer A:..............................................................................................................................7
Answer B:...............................................................................................................................8
Answer C:...............................................................................................................................8

TAXATION LAW2
Answer D:..............................................................................................................................9
Answer to question 4:...............................................................................................................10
Answer A:............................................................................................................................10
Answer B:.............................................................................................................................10
Answer C:.............................................................................................................................10
Answer D:............................................................................................................................11
Answer E:.............................................................................................................................11
Answer to question 5:...............................................................................................................12
Issues:...................................................................................................................................12
Laws:....................................................................................................................................12
Application:..........................................................................................................................13
Conclusion:..........................................................................................................................14
References:...............................................................................................................................15

TAXATION LAW3
Answer to question 1:
Answer to A:
A vital topic involving the valuable life of the depreciating asset under “section 40-
100, ITAA 1997” is talked over under the Taxation ruling of TR 2018/14.
Answer B:
A taxpayer is allowed to claim tax offset under the “Division 13 of the ITAA 1997”.
Answer C:
For the year 2018/18 the uppermost extent of tax rate which is applicable on the
resident of Australia amounts to 54,097 + 45c for each $1 above $180,000.
Answer D:
As per “Section 108-20 (2)” the private usage or the personal use asset includes
anything that is held by a person for their own enjoyment purpose1. But it must be noted that
the capital gains made from the private use assets having a purchase cost of less than $10,000
or less is not counted in for taxation purpose under the legislative provision of “section 118-
10 (3), ITAA 1997”.
Answer E:
Agreeing with “section 104-15 (1) of the ITAA 1997” a CGT event B1 takes place when
the taxpayers arranges a contract with another entity on the below stated conditions that2;
a. The right relating to the use of CGT asset under the ownership of a person is given
another entity
1 Barkoczy, Stephen, Foundations Of Taxation Law 2014
2 Grange, Janet, Geralyn A Jover-Ledesma and Gary L Maydew, 2014 Principles Of Business Taxation