QUESTION 2

To prepare your answer to Question 2, you are required to undertake independent research to produce a quality answer that has the following attributes:

Clarity of answers and arguments, identifying the key principles, key legal questions, key taxation issues, and economic and other considerations that support your answers.

Quality and depth of research, using resources such as peer reviewed journal articles, books about taxation principles, Australian-focused books about taxation, Australian government reports, relevant reports from other bodies, relevant statements by government departments, and statute law. You are not required to research any case law.

Correct application of the AGLC to include pinpoint references in your answer.

Part (a): This is a short answer question. You are required to reference your answer using the AGLC.

There are four universally accepted cannons of taxation. What are these cannons (name these cannons)? What is the name of the person who developed these cannons in 1776?