Great Deal! Get Instant $10 FREE in Account on First Order + 10% Cashback on Every Order Order Now

MIT Taxation Law MA613 Semester XXXXXXXXXX Individual assignment This is an individual assignment, students are able to research this assignment online. Submission will be online. Writing should be no...

1 answer below »


Taxation Law MA613


Individual assignment

This is an individual assignment, students are able to research this assignment online. Submission will be online.

Writing should be no more than 2,000 works, and can take the format of a report, whereby the 5 different questions are answered.

Due Date: Friday 10th June, 2020.

Individual assignment 20%

Purpose: To read and report on a Tax Ruling by the ATO.

· The purpose of the assignment is to encourage students to access the considerable the resources of the ATO by using the internet.

· Students are to choose from one of the topics and find a ruling or rulings on that topic and make some pertinent comment from a reading of information supplied by the ATO.

· The topics suggested are part of the course to be taught this semester.

· Marks will be given on the basis of a student’s:

Ø Evidence of reading and understanding of the topic

Ø The making of relevant comments on important aspects of the topic

Ø Presentation and expression in each response.

Choose from one of the following topics


3. TR 97/12 Tax ruling regarding the use of work-related clothing.



Students are to answer each of the following 5 questions

1. Explain essentially what the ruling is about under taxation law principles.

2. Explain the issue addressed by this ruling, ie why is there a ruling on this topic, are there particular arguments over the topic matter between the ATO and individual taxpayers?

3. What common law or existing legislation does the ruling refer to? Explain briefly.

4. Did the ruling give examples, and clearly explain the issues and how the ruling determines the law?

5. How useful is this ruling for tax planning purposes?

Answered Same Day Jun 08, 2021 MA613


Rithik answered on Jun 10 2021
113 Votes
Running Head: TAXATION LAW                                        1
TAXATION LAW                                             7
Table of Contents
Introduction    3
1. Details about the Ruling under Taxation Law Principles    3
2. Issue addressed by this Ruling    3
3. Common Law or Existing Legislation being refe
ed to by the Ruling    4
4. Examples and Explanations given by the Ruling about the Issues and Ruling Determining the Law    5
5. Usefulness of this Ruling for Tax Planning Purposes    5
Conclusion    6
References    7
The TR taxation ruling is solely based on the work, which is related to the purchase of clothing as well as uniform and includes the various types of footwear expenses. According to the FBTAA, it signifies the necessary amendments, which is beneficial, which includes the forecasting for the research benefits. Besides that, it also includes the various types of deductible allowances, which are related with the 97/12 ruling, and it even includes the different types of maintenance costs, which according to the given deductions, are allowable according to the 97/12 taxation. According to the FBTAA, it is meant to provide the necessary support to the employees related to clothing, footwear and uniform.
1. Details about the Ruling under Taxation Law Principles
According to the Income Tax Assessment Act 1936 of the ITAA, in order to signify the ruling that is solely based on the expenses and the beneficial factor for the income tax assessment act, it is to be noted that these are the allowable deductions that comes under the Income Tax Assessment Act (Australian Government, 2017). Moreover, regarding of it if there is any sort of expenses, which will be the incu
ed through the assessment. The TR 97/12 is ruling is all about the consideration of work expenses which is related to the clothes, expenses and uniform. It also includes the particular maintenance costs, which are, comes under the section 51(1) and it is treated under the allowable deductions (Australian Government, 2017). On the other side, it is also provided and it works for the welfare of the particular people, whoever is engaged for the development of the society. The ruling is also provides the fringe benefits which is on the base of tax liability for the employees.
According to the under section of the Fringe Benefits Tax Assessment Act 1986, the FBTAA plays a very important factor for the particular group of society (Australian Government, 2017). In order to support and work for the welfare of the employees which are keep engaging in the work related to the resources and also getting the benefits from the employees in the terms of clothing, footwear and uniform. The TR 97/12 is only deductible under special circumstances, which is when there would be the sufficient condition, which is followed and between the productions of the net assessable income holder.
The purpose of the work is related to the special character of the income tax assessment whether it is for domestic or private purpose. It is deductible in the under section 51(1) (Australian Government, 2017). Besides that, there are other factors also, which is responsible for the governing of nature and the expenses comprises of the cost of buying. It considered as the foremost factor in order to meet the tax exemptions and will getting the cost of the particular activities.
2. Issue addressed by this Ruling
The sort of expenses which are deductible under the particular ruling and it is only deductible under the proper sufficient of the connection which is established between the clothing activities, which are ca
ied and the part of the assessable income which is ca
ied in the form of deductible allowances. Apart from that, there is not any kind of domestic activity, which is connected to the assessment of tax. The certain factors, of which the deductibility is allowed, are related to the work expenses and other factors also. It meant that the deductibility of the particular expenses are comes under the deduction or whether that particular deduction is allowable or not and the most significant thing which is to be satisfies and the substantiation rule of the expenses which is related to the assessable income. According to the under section 51 AL and 51 AH (Australian Government, 2017).
Moreover, on the topic of...

Answer To This Question Is Available To Download

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here