Taxation Law Assignment: Deductions, GST, Income, and Case Studies

This taxation law assignment solution addresses key concepts in Australian taxation. It begins with an analysis of deductions under section 8-1 of the ITAA 1997, exploring deductible expenses related to machinery transfer, asset revaluation, legal proceedings, and solicitor fees. The assignment then examines Big Bank Ltd's advertisement expenses and their treatment under the GST Act 1999, determining the eligibility for GST input credit. Next, it delves into Angelo's income, calculating assessable income using both inclusive and exclusive methods, and identifying the foreign tax offset. Finally, the assignment explores the income of a partnership involving Johnny and Leon, providing a comprehensive overview of various taxation aspects.