Unit Learning Outcomes:
1.Describe the taxation framework in Australia and identify the concepts and principles that underpin Australian Tax Law.
2.Explain how the main tax laws and regulations in Australia have been applied and identify the body of case law that informs current
interpretations of the taxation regime.
3.Recognise, describe and analyse taxation issues and concepts with regard to problems encountered in commercial settings.
4.Demonstrate an understanding of substantive areas of taxation law including income tax, goods and services tax and fringe benefits taxes.
5.Discuss the role and responsibilities of accountants with regard to taxation law and the preparation of taxation documents.
BACC3004 Tax Law Assignment-Australian Institute Of Higher Education.

BACC3004 Tax Law Assignment-Australian Institute Of Higher Education.

Graduate attributes
Communication: The ability to communicate effectively, both orally and in writing, with a diverse range of audiences Research: The ability to conduct thorough, accurate and targeted research.

Research: The ability to conduct thorough, accurate and
targeted research Critical thinking and problem
solving: The ability to address and solve problems creatively
and in a structured and methodical way Flexibility: The ability to
critically assess and evaluate different approaches to issues
and problems.

Research: The ability to conduct thorough, accurate and targeted research Critical thinking and problem solving: The ability to address and solve problems creatively and in a structured and
methodical way Flexibility: The ability to critically assess and evaluate different approaches to issues and problems.

Flexibility: The ability to critically assess and evaluate
different approaches to issues and problems

BACC3004 Tax Law Assignment-Australian Institute Of Higher Education.

BACC3004 Tax Law Assignment-Australian Institute Of Higher Education.

Communication: The ability to communicate effectively, both
orally and in writing, with a diverse range of audiences Ethical behavior: The ability to identify and understand ethical problems and demonstrate ethical behaviour.

Question 1
During the income year ended 30 June 2019/20 Nicholas, a resident,received salary and wages income of $35,000, interest income of $3,000, an exempt compensation payment of $23,000, commission income of $4,000, a Living Away from Home Allowance (LAFHA) of $20,000, an Overtime Allowance $2,000 and a rental loss of $9,000.Assuming that he has PAYG (W) of $6,000. Ignore tax offsets.

Required: what is Nicholas tax payable / refund (Please show all workings)?

Question 2
The Disco Biscuit Company is a resident company that owns and operates a car dealership. During the year, the company has provided the use of a car to a number of people. The details are shown below. For each of the below transactions, explain by referencing to legislation and case laws applicable whether the provision of the vehicle represents a fringe benefit.

BACC3004 Tax Law Assignment-Australian Institute Of Higher Education.

BACC3004 Tax Law Assignment-Australian Institute Of Higher Education.

a. Mary, the wife of Damon who is a salesperson of the company, received a car to use.
b. Gabby operates the business of providing an advertising consulting services to clients. The Disco Biscuit Company gives Gabby the use of a Mercedes for her services provided to it instead of paying a fee for her service upon their mutual agreement.
c. Nigel, a salesperson, receives the use of a Lexus, a luxury car.
d. Tristan, the managing director, is given the use of a Jaguar (car) instead of receiving a director’s fee.

Question 3
During the 2019/20 income year, Maxwell Johnson, sold various assets that realized capital gains and losses as follows:

BACC3004 Tax Law Assignment-Australian Institute Of Higher Education.

BACC3004 Tax Law Assignment-Australian Institute Of Higher Education.

In each case above, the asset has been held by Maxwell for more than 12 months and the relevant minimum cost thresholds have been exceeded.

Required: calculate the minimum net capital gain that Maxwell is required to include as assessable income for the 2019/20 income year.