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 A:..............................................................................................................................3
Answer B:...............................................................................................................................3
Answer C:...............................................................................................................................3
Answer D:..............................................................................................................................4
Answer E:...............................................................................................................................4
Answer F:...............................................................................................................................4
Answer G:..............................................................................................................................4
Answer H:..............................................................................................................................5
Answer to I:............................................................................................................................5
Answer to question 2:.................................................................................................................5
Answer to A:..........................................................................................................................5
Answer to B:..........................................................................................................................6
Answer to C:..........................................................................................................................7
Answer to D:..........................................................................................................................7
Answer to E:...........................................................................................................................8
Answer to question 3:.................................................................................................................8
Answer to A:..........................................................................................................................8
Answer to B:..........................................................................................................................9
Answer to C:..........................................................................................................................9

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

TAXATION LAW3
Answer to question 1:
Answer A:
As per the “section 40-100 of the ITAA 1997” the taxation ruling of TR 2018/4
explains the process used by the Commissioner of Taxation for ensuring effective life cycle
for the depreciating assets1.
Answer B:
Details regarding the tax offsets is given under the “division 13 of the ITAA 1997”2.
Answer C:
The below table is elaborating the applicable taxes on a taxpayer who is considered to
be an Australian resident
Assessable Bracket of Income Tax ($)
180,001 & over 54,097 plus 45c for each $1 over 180,000
Answer D:
There are different methods that are considered to be exemptions which lower the
capital gains as well as losses. According to CGT under the legislative provision of “section
1 "INCOME TAX ASSESSMENT ACT 1997", Classic.Austlii.Edu.Au (Webpage, 2019)
<http://classic.austlii.edu.au/au/legis/cth/consol_act/itaa1997240/>
2 "Legal Database", Ato.Gov.Au (Webpage, 2019)
<https://www.ato.gov.au/law/view/document?DocID=TXR/TR20184/NAT/ATO/
00001&PiT=99991231235958>