Individual Taxation Law Assignment: LAWS20060, Term 2, 2019

This assignment addresses key aspects of Australian taxation law, focusing on individual income tax, capital gains tax (CGT), and related concepts. It begins with an analysis of a tax ruling concerning the timing of business operations, followed by an examination of deductible gifts and contributions under the ITAA 1997. The assignment then explores various tax rates and thresholds, including the maximum tax bracket and the tax-free income threshold. It also discusses the CGT treatment of cars and motorcycles, as well as lost or ruined objects. The assignment delves into the landmark case of Hayes v FCT, clarifying the taxation of previously earned income. It differentiates between ordinary income and statutory income, as well as the Medicare Levy and Medicare Levy Surcharge. Furthermore, it analyzes the concepts of 'permanent place of abode' and 'usual place of abode' for residency determination. Finally, the assignment examines the deductibility of various expenses, including HECS-HELP repayments, travel expenses, accounting books, childcare, and home repairs, based on relevant sections of the ITAA 1997 and supporting case law.