Taxation Law Assignment: Income Tax, Case Analysis of FCT v Cooke

This taxation law assignment provides a comprehensive analysis of income tax calculations and a detailed case study of FCT v Cooke & Sherden. Part A focuses on calculating the income tax payable by Jane Herman, a fellow chartered accountant, considering her salary, professional services income, rental property income, and capital gains. It includes detailed workings for each income source and applies the Australian income tax slabs. Part B presents a case analysis of FCT v Cooke & Sherden, examining the facts, decisions, and relevance of the case in contemporary tax law, particularly in relation to benefits received by taxpayers. The report concludes that a thorough understanding of tax laws and applicable income classifications is essential for accurate tax calculation.