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Utilization of Taxation Law Assignment

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Added on  2020-04-01

Utilization of Taxation Law Assignment

   Added on 2020-04-01

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Running head: TAXATION LAWUTILIZATION OF TAXATION LAWName of the student:Name of the University:Author’s Note:
Utilization of Taxation Law Assignment_1
1UTILIZATION OF TAXATION LAWTable of ContentsAnswer to question 1:.................................................................................................................2Answer to question 2:.................................................................................................................3Answer to question 3..................................................................................................................4Answer to question 4:.................................................................................................................5Answer to question 5:.................................................................................................................6Reference List:...........................................................................................................................8
Utilization of Taxation Law Assignment_2
2UTILIZATION OF TAXATION LAWAnswer to question 1:This case shows issue that relates to the determination of gain or loss that is receivedfrom the sale of assets and this case is defined under section 108-20 of the ITAA 1997. Lawsthat are applicable in this case are : Section 108-20 of the ITAA 1997 &Section 108-10 ofITAA 1997Application of Law section of 108-20 of the ITAA 1997 shows that loss incurred dueto sale of home sound system is not acceptable due to set off, the reason behind this is lossesfaced from dumping of used assets cannot be taken. The second law used 108-10 of the ITAAstates that , losses cannot be set off by the profits that is accepted from the sale of shares1.Moreover, the offset can also be considered as per Section 108-10 of ITAA 1997. In this1Lindell, G., 2013. Judicial review and the dismissal of an elected government in 1975: then and now?.
Utilization of Taxation Law Assignment_3

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