Please answer these question on basis of taxation law and sections or any cases if needed
1. What are tax rates, marginal tax rate, medicare levy rates, threshold rates, gross up rates based on current tax year i.e.. 2016?
2. What are tax implications?
3. What is statutory include income?
4. What is derivation of income? when is income derived?
5. What is effect of prepayment and cases dealing with it?
6. What are capital v/s income?What are its different tests/ steps?
7. When are fines and penalties not deductible?
8. What are Royalties and What are its two different types?
9. What are Deductions and capital? Distinguish between two? What can be deducted?
10. What is assessable income and what is not?