Tax Agent Quiz Exam - 15 edition: Australian Tax Law
Question 1
Taxable income = less
Correct
Mark 1.00 out of Select one:
1.00 a. Disposal income & deductions
b. assessable income & tax offset
c. all the income & deductions
d. assessable income & deductions
Question 2
Julie is single. For the current financial year, she has taxable income of $65,000. She
Correct
also receives reportable fringe benefits of $20,000 and reportable superannuation
Mark 1.00 out of
contributions of $10,000. She has no net investment loss. Julie's income for Medicare
1.00
Levy Surcharge purposes for the current financial year is
Select one:
a. $85,000
b. $65,000
c. $75,000
d. $95,000
, Question 3
Correct
Mark 1.00 out of
1.00
During the current income year, Neil has made the following income:
Wages $50,000
Interest on term deposits $2,000
Rental income from his investment property $20,000
Net capital gain from selling his investment property $50,000
His assessable income for the current income year is
Select one:
a. $122,000
b. $97,000
c. $72,000
d. $102,000 Sally is an Australian resident. She worked in UK continuously for 6 months on a project
for the supply of agricultural services carried out on behalf of the Australian
government. The project is an approved overseas project. She earned $100,000 foreign
income
The costfrom
baseworking on asset
of a CGT this project. This $100,000 is her
includes:
Select one:
assessable
a. costs relate income
to installing or removing the asset
b. non-assessable non-exempt
the money paid for the asset income
& costs of advertising to find a seller or buyer
Question 4
5
taxable
c. costs income with owning an asset such as insurance premium and rates
associated
Correct
Mark 1.00 out of exempt
d. all foreign income
are correct
1.00
Question 1
Taxable income = less
Correct
Mark 1.00 out of Select one:
1.00 a. Disposal income & deductions
b. assessable income & tax offset
c. all the income & deductions
d. assessable income & deductions
Question 2
Julie is single. For the current financial year, she has taxable income of $65,000. She
Correct
also receives reportable fringe benefits of $20,000 and reportable superannuation
Mark 1.00 out of
contributions of $10,000. She has no net investment loss. Julie's income for Medicare
1.00
Levy Surcharge purposes for the current financial year is
Select one:
a. $85,000
b. $65,000
c. $75,000
d. $95,000
, Question 3
Correct
Mark 1.00 out of
1.00
During the current income year, Neil has made the following income:
Wages $50,000
Interest on term deposits $2,000
Rental income from his investment property $20,000
Net capital gain from selling his investment property $50,000
His assessable income for the current income year is
Select one:
a. $122,000
b. $97,000
c. $72,000
d. $102,000 Sally is an Australian resident. She worked in UK continuously for 6 months on a project
for the supply of agricultural services carried out on behalf of the Australian
government. The project is an approved overseas project. She earned $100,000 foreign
income
The costfrom
baseworking on asset
of a CGT this project. This $100,000 is her
includes:
Select one:
assessable
a. costs relate income
to installing or removing the asset
b. non-assessable non-exempt
the money paid for the asset income
& costs of advertising to find a seller or buyer
Question 4
5
taxable
c. costs income with owning an asset such as insurance premium and rates
associated
Correct
Mark 1.00 out of exempt
d. all foreign income
are correct
1.00
