FNSACC601 quiz 13 - ITR – Individuals 2026
(Prepare and administer tax documentation for legal
entities) Monarch Institute
HOLIDAY NOTICE: LIMITED SUPPORT (20 DEC – 4
JAN)
Please be advised that from Saturday 20th December to Sunday 4th January, Trainer
and Student Services availability will be limited.
Please allow extra time for responses. Thank you and enjoy the break!
Started on Monday, 29 December 2025, 1:43 PM
State Finished
Completed on Monday, 29 December 2025, 1:52 PM
Time taken 8 mins 16 secs
Marks 19.00/20.00
Grade 95.00 out of 100.00
Feedback Sensational! - You have shown an indepth understanding of this
material, and have achieved an excellent result. Well done.
Question 1
Which of the following is correct in relation to Division 36 tax losses?
Correct
Select one:
Mark 1.00 out of
1.00 a. Tax Losses = Deductions - Exempt Income + Assessable
Income
b. None of the answers are correct
c. Tax Losses = Deductions - Exempt Income - Assessable
Income
d. Tax Losses = Deductions - Assessable Income
e. Tax Losses = Deductions + Exempt Income - Assessable
Income
, Question 2
Which of the following is not correct in relation to Division 36 tax
Correct losses?
Mark 1.00 out of
1.00 Select one:
a. Personal superannuation contributions cannot be used to
create or increase a tax loss
b. Superannuation paid on behalf of employees cannot be used
to create or increase a tax loss
c. Gifts to DGRs cannot be used to create or increase a tax loss
d. None of the answers are correct
e. Exempt income is offset against available losses before a
deduction may be claimed for tax losses
Question 3
A taxpayer has gross rent of $30,000; rental deductions of $38,000
Correct
and exempt income of $2,000. Calculate the Division 36 losses
Mark 1.00 out of available to carry forward.
1.00
Select one:
a. None of the above
b. $40,000
c. $6,000
d. $8,000
e. $10,000
Question 4
A taxpayer has gross salary of $50,000; exempt income of $3,000
Correct
and losses available brought forward totalling $10,000. Calculate
Mark 1.00 out of the taxable income.
1.00
Select one:
a. $43,000
b. $46,000
c. $40,000
d. $37,000
(Prepare and administer tax documentation for legal
entities) Monarch Institute
HOLIDAY NOTICE: LIMITED SUPPORT (20 DEC – 4
JAN)
Please be advised that from Saturday 20th December to Sunday 4th January, Trainer
and Student Services availability will be limited.
Please allow extra time for responses. Thank you and enjoy the break!
Started on Monday, 29 December 2025, 1:43 PM
State Finished
Completed on Monday, 29 December 2025, 1:52 PM
Time taken 8 mins 16 secs
Marks 19.00/20.00
Grade 95.00 out of 100.00
Feedback Sensational! - You have shown an indepth understanding of this
material, and have achieved an excellent result. Well done.
Question 1
Which of the following is correct in relation to Division 36 tax losses?
Correct
Select one:
Mark 1.00 out of
1.00 a. Tax Losses = Deductions - Exempt Income + Assessable
Income
b. None of the answers are correct
c. Tax Losses = Deductions - Exempt Income - Assessable
Income
d. Tax Losses = Deductions - Assessable Income
e. Tax Losses = Deductions + Exempt Income - Assessable
Income
, Question 2
Which of the following is not correct in relation to Division 36 tax
Correct losses?
Mark 1.00 out of
1.00 Select one:
a. Personal superannuation contributions cannot be used to
create or increase a tax loss
b. Superannuation paid on behalf of employees cannot be used
to create or increase a tax loss
c. Gifts to DGRs cannot be used to create or increase a tax loss
d. None of the answers are correct
e. Exempt income is offset against available losses before a
deduction may be claimed for tax losses
Question 3
A taxpayer has gross rent of $30,000; rental deductions of $38,000
Correct
and exempt income of $2,000. Calculate the Division 36 losses
Mark 1.00 out of available to carry forward.
1.00
Select one:
a. None of the above
b. $40,000
c. $6,000
d. $8,000
e. $10,000
Question 4
A taxpayer has gross salary of $50,000; exempt income of $3,000
Correct
and losses available brought forward totalling $10,000. Calculate
Mark 1.00 out of the taxable income.
1.00
Select one:
a. $43,000
b. $46,000
c. $40,000
d. $37,000
