New

Connect on Whatsapp : +97143393999 , Uninterrupted Access, 24x7 Availability, 100% Confidential. Connect Now

Securing Higher Grades Costing Your Pocket? Book Your Assignment at The Lowest Price Now!
loader
Add File

Error goes here

Files Missing!

Please upload all relevant files for quick & complete assistance.

Guaranteed Higher Grade!

LAWS5065 Taxation Law

tag 0 Download 8 Pages / 1,779 Words tag 18-11-2020

Questions:

1.

Henry, a tax resident of Australia, was a famous jazz singer who passed away recently. Jack, a publisher was interested on Henry's life story and wanted to write a bibliography on Henry's life. Jack approached Henry's wife, Jenny (also a tax resident of Australia) to interview her on Henry's life story. She was offered $1 million for Henry story. Jenny was paid $500,000 deposit before the interview. After the interview, she was paid the balance of the money.

Would the tax consequences have changed if Jenny had written the book herself?

Required

Advise Jenny on her tax consequences.

You must cite the relevant case law and legislation

2.

Sally is a single parent who is employed as an accountant. In order to attend employment, she must put her young child in a day-care centre. Sally considers the expense is necessarily incurred in gaining her income. Would she be entitled to a tax deduction under s8-1?

Required

Advise Sally of her tax consequences

3.

Joseph conducts a plumbing business. With a view to future retirement he purchases 20ha of land and plants native wildflowers that he plans to harvest and sell. As a preliminary measure, he arranges to clear the land and plough in compost. It is expected that the first commercial crop will not be harvested for five years. He incurs interest on a loan to finance the land purchase, land preparation costs, fertilizer costs and costs of acquiring native seedlings.

Advise Joseph of the tax consequences of the venture.

You must cite the relevant case law and legislation

Download Sample Now

Earn back the money you have spent on the downloaded sample by uploading a unique assignment/study material/research material you have. After we assess the authenticity of the uploaded content, you will get 100% money back in your wallet within 7 days.

Upload
Unique Document

Document
Under Evaluation

Get Money
into Your Wallet

Total 8 pages

Cite This Work

To export a reference to this article please select a referencing stye below:

My Assignment Help (2020) Taxation Law [Online]. Available from: https://myassignmenthelp.com/free-samples/laws5065-taxation-law/federal-commissioner-of-taxation.html
[Accessed 18 August 2022].

My Assignment Help. 'Taxation Law' (My Assignment Help, 2020) <https://myassignmenthelp.com/free-samples/laws5065-taxation-law/federal-commissioner-of-taxation.html> accessed 18 August 2022.

My Assignment Help. Taxation Law [Internet]. My Assignment Help. 2020 [cited 18 August 2022]. Available from: https://myassignmenthelp.com/free-samples/laws5065-taxation-law/federal-commissioner-of-taxation.html.


We Can Help!

Get top notch assistance from our best tutors !
Excel in your academics & career in one easy click!

icon

Other Samples

Content Removal Request

If you are the original writer of this content and no longer wish to have your work published on Myassignmenthelp.com then please raise the content removal request.

icon

5% Cashback

On APP - grab it while it lasts!

Download app now (or) Scan the QR code

*Offer eligible for first 3 orders ordered through app!

screener
ribbon
callback request mobile
Have any Query?