This document is a comprehensive solution to a Taxation Law of Australia assignment, addressing multiple questions related to income tax, capital gains tax (CGT), and various deductions. The assignment covers topics such as the methodology for calculating asset depreciation, tax offsets, marginal and average tax rates, and consumption taxes. It explores specific scenarios, including the deductibility of loan interest, allocation of dual-purpose expenses, and the treatment of child care expenses. The document also analyzes CGT events, exemptions for main residences, and the impact of capital gains and losses on assessable income. Furthermore, the assignment delves into the taxability of prize winnings, the application of general deductions, and the treatment of expenses related to employment and elections. The solution references relevant legislation, cases, and tax rulings to support its arguments, providing a detailed analysis of each question and its associated legal principles. This assignment provides a thorough understanding of key concepts in Australian taxation law.