Angelo is employed by ABC Pty Ltd as a barista. He has the following receipts and...

 

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Angelo is employed by ABC Pty Ltd as a barista. He has the following receipts and outgoings during this income year: (a) wages of $30,000. (b) interest from a bank account. (c) course fees to undertake a coffee course. (d) course fees to study law at night to become a lawyer. (e) a David Jones gift card given to him by his employer at Christmas. (f) a prize he wins of $5,000 at the dog races. Discuss the taxation consequences of the above transactions. You must cite the appropriate law (i.e., legislation and case law) in your answer. It is not a calculation question. Angelo is employed by ABC Pty Ltd as a barista. He has the following receipts and outgoings during this income year: (a) wages of $30,000. (b) interest from a bank account. (c) course fees to undertake a coffee course. (d) course fees to study law at night to become a lawyer. (e) a David Jones gift card given to him by his employer at Christmas. (f) a prize he wins of $5,000 at the dog races. Discuss the taxation consequences of the above transactions. You must cite the appropriate law (i.e., legislation and case law) in your answer. It is not a calculation question.

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Question 1 As per Australia Taxation authorities the tax consequences for each transaction is given below a As per ITAA97 Sec 65 Wages of 30000 The salary and wages should be declared in a tax return ... View the full answer