There is a question that requires students to "explain how the tax rates apply to individuals in Australia and the alternative from flat tax rates that apply to companies. Students will also be required to explain generally how capital gains are dealt with as statutory income.  Students are expected to be able to reflect on what they have learnt about the tax system as it is in 2024 especially in regard to the overall fairness between the rich and poor.  Your reflection should show that you now understand the main principles in the tax system and can make a personal reflection appropriate for post graduate level students."

How do you answer this type of question? what is the format? what are the things that need to be covered?