ALL QUESTIONS NEEDS TO BE ANSWERED UNDER AUSTRALIAN TAXATION RULES

4. Returns and Assessments -Commissioner's source of information The Federal Commissioner of Taxation is empowered to assess the taxable income of a taxpayer from tax returns as well as from any other information in their possession. The following are examples of transactions where the Commissioner may be able to verify the amounts from other information: Salary and wages received by an employee A deduction for share of a net partnership loss. . Superannuation contributions received by a complying superannuation fund. . Assessable income from business receipts. . A trust distribution recelved by a beneficiary from an inter vivos trust For each of these transactions, indicate other sources of information the Commissioner may use to verify their accuracy and completeness