FNSACC512: Prepare Tax Documentation for Individuals - Taxation Law Assignment Help

Question 1

What is the possible consequence for an individual taxpayer for not paying their tax liability on time?

Question 2

Select the correct answer:

Select one:

1. Australian residents are generally taxed on their worldwide income from all sources. Temporary and foreign residents are generally taxed only on their Australian-sourced income
2. Australian, temporary and foreign residents are all generally taxed on their Australian income from all sources Tax methods are di?erent between Australian residents with temporary and foreign residents
3. Australian, temporary and foreign residents are all generally taxed on their worldwide income from all sources
4. None of the above statements are correct

Question 3

Which of the following is not available to tax agents to lodge client tax returns with the ATO?

Question 4

Tax returns for the year 2019/2020 year submitted through a registered tax agent are due to be submitted to the ATO by?

Question 5

Select which of the following may be required to be reported on Business Activity Statements:

Select one or more:

1. GST Paid and Collected
2. Fringe Bene?ts Tax Instalment
3. Capital Gains Tax
4. PAYG Instalments
5. PAYG Withholding
6. All of the above are reported on the BAS Please check Business Activity Statement

Question 6

How often would Kaye be required to determine the business use percentage of her car expenses?

Question 7

What are Kaye's annualised business kilometers

Question 8

Using the cents per km method what is the motor vehicle deduction for the year?

Question 9

Which method would you advise Kaye to use, to give her the greatest tax deduction

Question 10

Which of the following is assessable income?

Question 11

Anne purchased shares on 1 December 1985 for $1,000. She sold the shares on 1 December 2019 for $1,500. What is the minimum assessable capital gain on the shares to be included in her tax return for 2019/2020?

Question 12

Kim purchased a rare painting for $400 on 1 July 2010 and sold it for $4,800 on 1 July 2019. What is the minimum assessable capital gain on the painting to be included in her tax return for 2019/2020?

Question 13

Ralph purchased a boat for $16,000 on 1 July 2015 and sold it for $20,000 on 1 July 2019. What is the minimum assessable capital gain on the boat to be included in his tax return for 2019/2020?

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