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

TAXATION LAW2
Answer to question 4:.................................................................................................................9
Answer to A:..........................................................................................................................9
Answer to B:..........................................................................................................................9
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

TAXATION LAW3
Answer to question 1:
Answer A:
As defined under taxation ruling of TR 2018/4 an explanation has been given relating
to methods used by taxation commissioner to determine the effective assets life for the
depreciation purpose under “section 40-100 of the ITAA 1997”.
Answer B:
Details regarding the tax offsets has been provided under the “Division 13 of the ITAA
1997”1.
Answer to C:
The top rate of tax that are applicable to the Australian resident is provided below;
Taxable Income Bracket Tax (AUD$)
AUD $180,001 & over $54,097 plus 45c for each $1 over $180,000
Answer to D:
A taxpayer is provided with exemptions where the capital gains or losses are reduced,
deferred or disregarded. Under the legislative provision of “section 118-10(1) of the ITAA
1997” assets such as collectibles that are bought for a cost of $500 or less is exempted from
CGT2.
Answer to E:
1 Woellner, Robin, et al. "Australian Taxation Law 2016." OUP Catalogue (2016).
2 Barkoczy, Stephen. "Foundations of taxation law 2016." OUP Catalogue (2016).