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Urgent Answer please. Please consider Australian Taxation Law only and answer in depth please do not give Brief answers. (a) What is the difference between

Urgent Answer please. Please consider Australian Taxation Law only and answer in depth please do not give Brief answers.

(a) What is the difference between a “reduction amount” and an “exempt benefit”? What is meant by a taxpayer’s “preservation age” and why is this concept important? Explain your answer.

(b)Discuss how and when employers pay FBT for a year of tax. Are payments of FBT deductible? If so, when are they deductible?

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