Tax withholding amounts are required to be withheld by the person making a payment of $12,000 by a local football club to a prominent player representing bonuses for the season Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a TRUE b FALSE (= Q7 Under s.166 ITAA36, provides that from the returns and any other information in the Commissioner's possession and any other sources, he must make an assessment of: Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a the amount of taxable income of any taxpayer b the amount of tax payable by a taxpayer C the total amount of tax offset refunds a taxpayer is entitled to d All of the above e None of the above Q8 The Pay As You Go (PAYG) system of collecting income tax in Australia has the following two (2) strands: Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a PAYG withholding whereby the payer deducts amounts from others and remits these payments to the ATO . Save b PAYG instalments whereby taxpayers with business and investment income report and make regular payments to the ATO towards their anticipated annual tax liability PAYG foreign contractor withholding tax whereby businesses employing foreign contractors withhold and remit payments to the ATO adjusted by the relevant DTA rate d Only (a) and (b) above are correct Q9 The types of double taxation that can arise when the tax rules of 2 or more countries overlap and impose 'double taxation' on the same types of income include Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a juridical double taxation whereby the same taxpayer is taxed in 2 countries on worldwide income (including profits or gains) b economic double taxation whereby two countries, under the associated enterprises article in the DTA to which are both a party, make transfer pricing adjustments on the same quantum of profits derived by a taxpayer C Both (a) and (b) are correct d None of the above: Q10 A dividend of $500 representing 10 cents per share, paid by a company out of income derived from mining in Australia and paid to a resident taxpayer is assessable income in the hands of the shareholder Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a TRUE b FALSE