LAWS20060 Taxation Law Assignment: Income, CGT, and Deductions

This document presents a comprehensive taxation law assignment solution, addressing various aspects of Australian income tax and capital gains tax (CGT). The assignment analyzes scenarios related to depreciating assets, tax offsets, marginal tax rates, and consumption tax. It delves into the deductibility of expenses, including interest, mobile phone costs, childcare expenses, theft-related losses, and expenses related to political elections. The assignment further examines CGT events, such as issuing new leases, granting options, main residence exemptions, and the sale of shares, calculating capital gains and losses. Finally, it explores the tax treatment of prizes, allowances, fringe benefits (mobile devices), and compensatory payments, providing a detailed analysis of each scenario with relevant legal references and case law.