【Gandue.net】The following two sources of taxation revenue are projected to make up approx. 60% of

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The following two sources of taxation revenue are projected to make up approx. 60% of Australia’s taxation revenue in the 2019-20 income year.

Question 1 options:

a)

Individuals and Goods and Services Tax (i.e. sales tax).

b)

Large Business and Superannuation Funds.

c)

None of the available options

d)

Individuals and Fringe Benefits Tax.

In compliance with the TPB Code of Professional Conduct, Tax Agents must:

Question 2 options:

Maintain professional indemnity insurance

Always act in the best interest of their clients, even if it means breaking the law.

Respect confidentiality, even if it means refusing the comply with the ATO.

An Australian incorporated company provides IT support for numerous banks in India. The services are performed in Australia but the computer hardware is mainly in India. Which of the following statements is correct about source and residency:

Question 3 options:

a)

The company is an Australian resident earning Australian sourced income.

b)

The company is an Indian resident earning Australian sourced income.

c)

The company is an Australian resident earning Indian sourced income.

The following are categories of income from property:

Question 4 options:

a)

Interest, dividends, royalties and annuities.

b)

Interest, dividends, and salaries.

c)

Annuities, bribes, rent and interest.

Which of the following is correct:

Question 5 options:

a)

The doctrine of precedent is a fundamental constraint on judicial decision-making in Australia. The general idea behind the doctrine of precedent is that judges, when they are deciding cases, must pay proper respect to past judicial decisions.

b)

The doctrine of precedent is a fundamental constraint on judicial decision-making in Australia. A major limitation of this constraint is what the deciding judge believes is the most moral decision.

c)

The doctrine of precedent is old English law and is no longer relevant in the Australian legal system since appeals are no longer able to be made to the Privy Council.

An individual will be a resident of Australia if they satisfy:

Question 6 options:

a)

Any of the following tests: Ordinary concepts, controlling shareholders, 183 day test, Superannuation test.

b)

All of the following tests: Ordinary concepts, Domicile test, 183 day test, Superannuation test

c)

Any of the following tests: Ordinary concepts, Domicile test, 183 day test, Superannuation test

d)

Any of the following tests: Ordinary concepts, Domicile test, central management and control test, Superannuation test.

hoose the most correct legal definition of property:

Question 7 options:

a)

It is a description of a legal relationship with a thing. It refers to a degree of power that is recognised in law as power permissibly exercised over the thing. The concept of ‘property’ may be elusive. Usually it is treated as a ‘bundle of rights’. This includes, but is not limited to, real property.

b)

The legal definition of property is taken from s21 of the Conveyancers Act 2006.

c)

For income tax purposes it is restricted to properties which can be used to generate assessable income at some future point of time. This would include your primary residence as it could be rented one day.

Three of the main pieces of legislation which form part of the tax system and are a major part of this course are:

Question 8 options:

a)

Income Tax Assessment Act 1997, Income Tax Assessment Act 1936 and Privacy Act 1988.

b)

Income Tax Assessment Act 1997, Income Tax Assessment Act 1936 and Fringe Benefits Tax Assessment Act 1986.

c)

Income Tax Assessment Act 1997, Trade Marks Act 1985 and Fringe Benefits Tax Assessment Act 1986.

The following are the tax rates for an Australian resident individual in the 2021 income year:

0 - $18,200, Nil

$18,201 - $37,000, 19c for each $1 over $18,200

$37,001 - $90,000, $3,572 plus 32.5c for each $1 over $37,000

$90,001 - $180,000, $20,797 plus 37c for each $1 over $90,000

$180,001 and over, $54,097 plus 45c for each $1 over $180,000

Question 9 options:

TrueFalse

The basic income tax formula is:

Question 10 options:

a)

Income tax = (Assessable Income * rate) - Tax offsets.

b)

None of the available options.

c)

Income tax = (Taxable Income * rate) - Deductions.

d) 转载自赶due网（gandue.net）

Income tax = (Taxable Income * rate) - Tax offsets.