Question: Question 9 (15 marks) a) Explain the basis upon which income is taxed in Australia and the relevance of residence and source. (5 marks) b)

Question 9 (15 marks)

a) Explain the basis upon which income is taxed in Australia and the relevance of residence and source. (5 marks)

b) Explain the operation of the taxation equations. (5 marks)

c) Explain the concepts of gross income, assessable income, exempt income and taxable income. (5 marks)

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