This Taxation Law assignment addresses two key questions related to Australian taxation. The first question analyzes the Capital Gains Tax (CGT) implications for Jasmine, a resident selling various assets, including a house, car, business assets, furniture, and paintings. The analysis considers exemptions and liabilities based on ATO regulations and the ITAA 1997. The second question focuses on Mr. John, a motor vehicle parts manufacturer, and the capital allowance applicable to machinery he imported from Germany. The assignment examines the cost of the asset, including purchase price, travel expenses, and installation costs, along with the date from which depreciation begins. The solution provides advice to Mr. John regarding the calculation of the machinery's value for tax purposes and the commencement date for depreciation, based on UCA rules and relevant guidelines.
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