1. What is an assessable income for income tax purpose? 2. What are five tax deductions that...
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Question:
1. What is an assessable income for income tax purpose?
2. What are five tax deductions that are available to small business owners with a turnover under $1 million per annum?
3. Describe the applicable criteria for Medicare levy and Medicare Surcharge in an individual tax return. In what circumstances can the levy be exempted?
4. What are the available methods for calculating deductions for car expenses? Support your answer with an example?
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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