Why might it be more advantageous for a taxpayer to demonstrate that they ... Why might it be more advantageous for a taxpayer to demonstrate that they have realised a capital gain, rather than a profit from buying and selling an asset? O a. Capital gains does not apply where the person disposing of the asset did not purchase the asset for profit making purposes. O b. Capital gains can be deferred indefinitely by a taxpayer, until they actually make a capital loss. O c. A capital gain on the disposal of an asset is not subject to tax if the amount was realised for non-business purposes. O d. If a capital gain, then CGT is levied against the difference of the cost base and the disposal amount, and a 50% discount may be available to a non company taxpayer. Which statement is correct? Which statement is correct? O a. A company is resident of Australia if it is incorporated in New South Wales O b. The ATO determines which taxpayers are residents or non-residents through its rulings program O c. A company, not incorporated in Australia, is not a resident of Australia even though it carries on business in Australia O d. Australian residents are only taxed on Australian sourced income

Why might it be more advantageous for a taxpayer to demonstrate that they ... Why might it be more advantageous for a taxpayer to demonstrate that they have realised a capital gain, rather than a profit from buying and selling an asset? O a. Capital gains does not apply where the person disposing of the asset did not purchase the asset for profit making purposes. O b. Capital gains can be deferred indefinitely by a taxpayer, until they actually make a capital loss. O c. A capital gain on the disposal of an asset is not subject to tax if the amount was realised for non-business purposes. O d. If a capital gain, then CGT is levied against the difference of the cost base and the disposal amount, and a 50% discount may be available to a non company taxpayer. Which statement is correct? Which statement is correct? O a. A company is resident of Australia if it is incorporated in New South Wales O b. The ATO determines which taxpayers are residents or non-residents through its rulings program O c. A company, not incorporated in Australia, is not a resident of Australia even though it carries on business in Australia O d. Australian residents are only taxed on Australian sourced income

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter11: Investor Losses

Section: Chapter Questions

Problem 1BCRQ

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