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Letter of Advice to a client relating to Australian tax.Requirements
MH is now seeking assistance in respect of her current year’s tax return and has asked you to
prepare a letter of advice on the following:
1. What, if any, amounts should be included as assessable income?
2. What, if any, amounts should be allowed as deductions?
3. What, if any, transactions would be subject to Capital Gains Tax (CGT)?In your response, you should thoroughly consider the applicable law in each area in addition to any
competing positions likely to be contended.
You do not need to research beyond the materials provided in the unit.
Assessable topics
Remember the following topics are assessable:
• Income from personal exertion
• Income from property
• Income from business
• Deductions
• Capital Gains Tax
Though not specifically assessable, you may find value in considering the following topics
and/or associated chapters in the text:
• Tax Timing
• Trading Stock
