Sections

Question 1

Section 6-5

Answer 1

Ordinary income

Question 2

Section 6-10

Answer 2

Statutory income

Question 3

Section 4-10

Answer 3

Income tax payable

Question 4

Section 4-15

Answer 4

Taxable income

Question 5

Section 6-20

Answer 5

Exempt income

Question 6

Section 6-23

Answer 6

NANE income

Question 7

Section 20-110

Answer 7

Disposal of a leased car for profit

Question 8

Section 8-1

Answer 8

General deductions

Question 9

Section 8-5

Answer 9

Specific deductions

Question 10

Section 25-10

Answer 10

Repairs

Question 11

Section 25-25

Answer 11

Borrowing expenses

Question 12

Section 25-35

Answer 12

Bad debts

Question 13

Section 26-10

Answer 13

Leave payment

Question 14

Section 25-5

Answer 14

Tax-related expenses

Question 15

Section 32-5

Answer 15

Cost of Christmas party not deductible

Question 16

Section 32-20

Answer 16

Entertainment expenses FBT exemption

Question 17

Section 40-27

Answer 17

Further reduction of deduction for second - hand assets in residential property

Question 18

Section 900-95

Answer 18

Substantiation for business travel expenses

Question 19

Section 28-12

Answer 19

Car expense deduction

Question 20

Section 110-25

Answer 20

General rules about cost base

Question 21

Section 115-100

Answer 21

Discount percentages for a discount capital gain

Question 22

Section 118-300

Answer 22

Insurance policies (CGT Exemption)

Question 23

Section 63-10

Answer 23

Priority rules for tax offsets

Question 24

Section 40-110

Answer 24

Recalculating effective life

Question 25

Section 40-880

Answer 25

'Blackhole' expenditure

Question 26

Section 102-15

Answer 26

How to apply net capital losses