Answer: Introduction Mark Lewis works in a luxury cruise liner that travels within the Mediterranean Sea. His main tax is received from income tax although he has other sources of income such as the rent income from his rented farmhouse which he subleases through Airbnb. This is lease income that comes from the farmhouse that he sublets. Additionally, Mark Lewis also has been breeding cattle in Australia or his retirement preparation. He owns...Read More
Answers: 1: Issues Reasons/Discussion Amount ($) Issue 1: Salary and Allowance Under the “sec 6 (1) ITAA 1936” the income that is received by an individual taxpayer out of their individual effort are known as personal exertion income. The judgement that was made in “Dean & Anor v FCT (1997)” stated that the remuneration paid to employee for being employed in the compa...Read More
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