11406 Revenue Law For Remunerations, Wages, Bonuses And Allowances

1. Explain to Megan Marvel whether the above amounts are assessable income under the Income Tax legislation. Use legislation and case law to support your answer.

2. a) Explain to Paul whether the above outgoings are deductible for income tax purposes (show calculations where appropriate).
b) Calculate Paul’s net capital gain in relation to the sale of the investment property

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