TAXATION LAW. TAXATION LAW. TAXATION LAW. 4. 4. Taxatio

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 to question 2:.................................................................................................................4
Reference List:...........................................................................................................................6

TAXATION LAW2
Answer to question 1:
Statement showing Calculation of Income from Partnership
For the year ended 30 June 2017
Particulars Sections
Amount
($)
Amount
($)
Gross Trading Receipts
Section 6-5 of
ITAA 1997 1900000
Capital Gains from sale of shares 20000
Unfranked Portion of Dividend 7350
Interest Income from bank of china 11250
Gross Total Income 1938600
Expenses eligible as deduction:
Salary to Mary 40000
Interest on loan of funds by Mary
Section 8-1 of
ITAA 1997 10000
Salaries to Employees 250000
Rent and Power
Section 8-1 of
ITAA 1997 60000
Superannuation to staff
Section 8-1 of
ITAA 1997 85000
Superannuation paid on behalf of mary Section 8-1 of 25000