Taxation Law Assignment: CGT and Fringe Benefit Tax Analysis

This homework assignment provides solutions to two taxation law questions. Question 1 addresses capital gains tax (CGT) implications for various assets, including vacant land, an antique bed, a painting, shares, and a violin, referencing relevant legislation and case law such as "Sara Lee Household v FC of T (2000)" and section 104-10(1) of the tax act. Question 2 focuses on fringe benefit tax (FBT) in relation to employment benefits, specifically a car provided to an employee and loan benefits. The analysis examines the FBT implications for the company, Rapid Heat Pty Ltd, and its employee, Jasmine, considering car fringe benefits, expense payment fringe benefits, and loan fringe benefits, citing relevant sections of the Fringe Benefit Tax Assessment Act 1986 and case law such as "Lunney v FCT (1958)". The assignment provides a detailed analysis of the tax implications, and the provided solution showcases the application of tax law principles to real-world scenarios.