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Part A: case study 5 marks (estimated 350 word). Use complete sentences in the answer. During the financial year Ram paid his tax agent $1,000 to...
Part A: case study 5 marks (estimated 350 word). Use complete sentences in the answer.
During the financial year Ram paid his tax agent $1,000 to complete the previous year's income tax return. He also paid his solicitor $2,000 to draft an objection to an ATO assessment that he received two years ago. Ram also paid $50,000 in income tax.
Explain with supported reasons which of the three costs are deductible.
To support the analysis in your answers refer where appropriate to the ITAA 1936, ITAA 1997, Tax Rulings and/or case law.
Part b: case study 5 marks (estimated 350 word). Use complete sentences in the answer.
On November 11 Tina a twenty year old international student arrives in Brisbane to study at university. She works part time in a local supermarket to help with living expenses and study fees. Her earnings to 30 June are $12,000. Regrettably she does not do well in the assignments and exams and fails all subjects. With deep regret she returns to her home country.
Did the student become an Australian resident?
To support the analysis in your answers refer where appropriate to the ITAA 1936, ITAA 1997, Tax Rulings and/or case law.
