Answer: Private & Confidential To Herbie Smith Advisors Consultant & Co 85 Smiths Villa Native Heights Dear Herbie We look forward to respond to your recent meeting, messages and telephone conversation. We are attaching the advice in respect to the matters sought by you in relation to the assessment of small business entity. Scope: The main objective or scope of the current letter of advice is to give the taxpayer with a valua...Read More
Answers: 1: Part 1: There are situations where the taxpayers normally gets the compensation payment where they suffer commercial as well as other type of losses. There are golden rule or principles relating to replacement. The character of a compensation receipt is largely dependent on the type of amount that is received by the taxpayer. This involves the payment which replaces, substitutes or compensate the taxpayer (Barkoczy, 2...Read More
Answers: 1: Part 1: There can be circumstances where the taxpayer regularly gets payment in the form of compensation when they suffer commercial or other types of losses. There is a golden rule associated to the taxability of compensation payment. The character involving a compensation payment will normally be reliant on what type of amount is received by the taxpayer (Burkhauser et al., 2015). This involves the payment which replaces,...Read More
Question: Write about the Principles of Taxation Law in Australia for Robyn. Answer: The brief facts of the present case are that one Robyn Rainer was worked as the lecturer in the college of business in the Victoria University. That there is number of courses going on in the Calcutta University by the College of business. One of the employee namely Jason Holm of the Victoria University was working as the coordinator in the ...Read More
Question: Discuss About The Taxation Law Is The Practice Of Levying? Answer: Introduction Taxation law is the practice of levying and imposing taxes on any type of income comes under the income tax law of any country. It is not only directly levied on the income of any individual, entity or group of individuals, but it is also levied indirectly on the goods and services whether may be imported or produced within the domestic bou...Read More
Question: Discuss about the Taxation Law for Legislation and Commentary. Answer: Introduction The current report is being drafted on the Taxation laws of Australia. Light is drawn on essentials that are required to be entered or omitted while calculating the income of a taxpayer. Income tax is charged on the income earned by the assessee further broadly classified into two categories, ordinary income and statutory income. Th...Read More
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