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LAWS20060 Taxation Law Of Australia

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Questions:

Question 1:

Advise your client on how the following items will be treated for tax purposes under Australian tax law:

  1. Webjet frequent flyer points received by a business analyst employed by a large business consultancy firm in relation to work related travel paid for by the firm
  2. amounts received by a crane hire company from its customers for a damaged crane
  3. a free overseas holiday received by a nightclub manager from an alcohol supplier
  4. the return to its members of excess funds raised by a canoe club for the purchase of additional canoes
  5. a payment made by a television station to an Australian footballer for being named the best and fairest in the AFL
  6. Expenses relating to a building qualification for a building apprentice
  7. Expenses relating to a short course in art management in the hope of becoming an art director
  8. Expenses relating to work make-up and work dresses
  9. Expenses relating to travel between home and office
  10. Expenses relating to travel between one employer and another employer

Question 2:

Manpreet is an international student studying an accounting degree at CQU, Sydney. She commenced her studies in term 1, 2016. In the 2016/2017 financial year she worked part time as an office assistant at an Accountant’s office to gain work experience in her chosen career and made $45,000 from that job. Manpreet also received $20,000 from her parents to assist her with her living expenses, and a $10,000 distribution from a trust account set up in India by her grandmother of which she paid $1,000 in foreign tax. She spent $18,500 on her studies, $2,000 on a computer and printer for educational purposes, and $500 on a new mobile which was required for work purposes.

Calculate Manpreet’s net tax payable for the 2016/2017 financial year, making reference to the taxation formula, the reasons for including or excluding specific items, your calculations, and the applicable tax law (sections of legislation and/or case law).

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My Assignment Help (2021) Taxation Law Of Australia [Online]. Available from: https://myassignmenthelp.com/free-samples/laws20060-taxation-law-of-australia/understanding-the-australian-taxation-law.html
[Accessed 24 October 2021].

My Assignment Help. 'Taxation Law Of Australia' (My Assignment Help, 2021) <https://myassignmenthelp.com/free-samples/laws20060-taxation-law-of-australia/understanding-the-australian-taxation-law.html> accessed 24 October 2021.

My Assignment Help. Taxation Law Of Australia [Internet]. My Assignment Help. 2021 [cited 24 October 2021]. Available from: https://myassignmenthelp.com/free-samples/laws20060-taxation-law-of-australia/understanding-the-australian-taxation-law.html.


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