Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Part 1 Taxpayer entity, Imposition of taxation, HECS payments in the tax system James is 18 and graduated from school scoring highly in his ATAR

image text in transcribed
Part 1 Taxpayer entity, Imposition of taxation, HECS payments in the tax system James is 18 and graduated from school scoring highly in his ATAR results but chooses not to further his career at the tertiary level. James decides to take up a carpentry apprenticeship with Uncle Jack and begins on 1 December 2019 earning wages of $28,000p.a. But, James submits a late enrolment in civil engineering as a part-time student. James has savings in his bank account and chooses to pay his Student Contribution fees upfront to take advantage of the 10% discount. His discounted Student Contribution payment part-time for the year is $4,100 Required Referring to the appropriate legislation: a) Is James a taxpayer entity that should pay tax? 2 marks - Legislation required b) What law imposes an income tax upon James? 1 mark - Legislation required c) If James didn't pay his HECS fees upfront, can he pay this debt through the taxation system? 2 marks - Legislation NOT required Part 1 Taxpayer entity, Imposition of taxation, HECS payments in the tax system James is 18 and graduated from school scoring highly in his ATAR results but chooses not to further his career at the tertiary level. James decides to take up a carpentry apprenticeship with Uncle Jack and begins on 1 December 2019 earning wages of $28,000p.a. But, James submits a late enrolment in civil engineering as a part-time student. James has savings in his bank account and chooses to pay his Student Contribution fees upfront to take advantage of the 10% discount. His discounted Student Contribution payment part-time for the year is $4,100 Required Referring to the appropriate legislation: a) Is James a taxpayer entity that should pay tax? 2 marks - Legislation required b) What law imposes an income tax upon James? 1 mark - Legislation required c) If James didn't pay his HECS fees upfront, can he pay this debt through the taxation system? 2 marks - Legislation NOT required

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Horngrens Accounting Volume 1

Authors: Tracie Miller Nobles, Brenda Mattison, Ella Mae Matsumura, Carol Meissner, JoAnn Johnston, Peter Norwood

11th Canadian Edition

0135359708, 9780135359709

More Books

Students also viewed these Accounting questions

Question

What information can examiners retrieve and analyze from cookies?

Answered: 1 week ago