Urgent Answer please. Please consider Australian Taxation Law only and answer in depth please do not give Brief answers.

(a) What is the difference between a “reduction amount” and an “exempt benefit”? What is meant by a taxpayer’s “preservation age” and why is this concept important? Explain your answer.

(b)Discuss how and when employers pay FBT for a year of tax. Are payments of FBT deductible? If so, when are they deductible?

Answer rating: 100% (QA)

Answer to a difference between reduction amount exempt benifit Reduction amount In australian law reduction amount is known as tax offsets This is som... View the full answer