Employed as a Physical Education - Deductibility - Law Assignment Help

Assignment Task :

Question 1  

Discuss what is meant by FBT? You should discuss the relevant statutory provision as well as the various categories and why the legislation was introduced. 

Question 2 

During the current tax year Erin received the following amounts: 

A. Salary and wages income of $98,000.

B. $4,200 interest from a bank term deposit of $50,000.

C. $500 per week for 50 weeks of the year from a rental property she owns.

D. Winnings of $10,000 on the poker machines.

E. $500 from selling eggs that her chickens laid to friends.

F. A holiday bonus of $1,000 from her employer.

G. A watch worth $200 from a happy client. 

Discuss which amount are assessable to Erin’s for the current tax year? Calculate her assessable income. 

Question 3 

Discuss the importance of the distinction between receipts that are capital in nature from those that are income in nature. 

Question 4  

Paula is employed as a Physical Education (PE) teacher at the local high school. During the year, she spent the following amounts for which she has substantiation: 

• Purchase of gel comfort running shoes worn everyday (2 pairs) $460 

• Purchase of sunscreen, required as her classes are mostly conducted outside _ $70 

• Cost of a one-day seminar on new warm-up and stretching techniques $160 

• Taxi fares for travel from home to work when her car was at the mechanic $50 

• Cost of first aid course (total before $200 reimbursement by the school) $400 

Discuss the deductibility of the above expenses citing the relevant law. 

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