HI6028 Taxation Law Assignment: Input Tax Credit and CGT

This assignment analyzes key aspects of Australian taxation law, including input tax credits and capital gains tax (CGT). The first part of the assignment examines the determination of claims regarding input tax credit originating from creditable acquisitions, referencing relevant legislation such as the GST Act 1999 and associated rulings (GSTR 2008/1). The analysis considers a case study involving a property investment and development company and the creditable acquisition of vacant land. The second part of the assignment addresses CGT, specifically the sale of land, Rio Tinto shares, and stamps, as well as the sale of a grand piano, detailing the calculation of capital gains and losses, and the application of relevant tax provisions. The assignment demonstrates an understanding of the Australian income tax system, the concepts of income and deductions, and the interpretation of relevant taxation legislations and case law.