UST QUESTION 2 10 points (A) 8-1 of the 1997 income Tax Assessment Act infers that a taxpayer is not entitled to deduct a loss or going to the extentiis capital Outine how the precedente Sun Newspapers case impacted the judicial tests applied to determine whether a loss or outgoing is of a capital nature by virtue of 81 97. (4 marks (6) Western Star Pty Ltd is a food manufacturing firm that has operated from the sale premises for over ten years. The company is a large business taxpayer with an average annual turnover of $750 million. During the year, the company incurred the following expenses et of GST) Calculate the maximum income tax deduction for Western Star in respect of the payments for the year ended 30 jun 2021.6 marks) 1/7/20 Purchase of a packaging machine at a cost of $920. The machine is used in the business and has an effective life of 12 years. 1/9/20 Re-painting the interior and exterior of the factory building at a cost of $52.000 1/1/21 Building an extension to the factory to accommodate additional machinery at a cost of $140,000. The extension was operational from 1/1/21 1/1/21 Borrowing fees of $3,000 in relation to a ten-year loan provided by 888 Bank to build the factory extension For the toolbar, press ALT F10 (PC) O ALTFN.F10 (Mac) B 1 Us Paragraph Open Sans, 10pt 6 X X 9 116 !!! A I. - +] 1 2 Click Save and Submit to save and submit Click Save All Arts to sate alla Save Save and Sub UST QUESTION 2 10 points (A) 8-1 of the 1997 income Tax Assessment Act infers that a taxpayer is not entitled to deduct a loss or going to the extentiis capital Outine how the precedente Sun Newspapers case impacted the judicial tests applied to determine whether a loss or outgoing is of a capital nature by virtue of 81 97. (4 marks (6) Western Star Pty Ltd is a food manufacturing firm that has operated from the sale premises for over ten years. The company is a large business taxpayer with an average annual turnover of $750 million. During the year, the company incurred the following expenses et of GST) Calculate the maximum income tax deduction for Western Star in respect of the payments for the year ended 30 jun 2021.6 marks) 1/7/20 Purchase of a packaging machine at a cost of $920. The machine is used in the business and has an effective life of 12 years. 1/9/20 Re-painting the interior and exterior of the factory building at a cost of $52.000 1/1/21 Building an extension to the factory to accommodate additional machinery at a cost of $140,000. The extension was operational from 1/1/21 1/1/21 Borrowing fees of $3,000 in relation to a ten-year loan provided by 888 Bank to build the factory extension For the toolbar, press ALT F10 (PC) O ALTFN.F10 (Mac) B 1 Us Paragraph Open Sans, 10pt 6 X X 9 116 !!! A I. - +] 1 2 Click Save and Submit to save and submit Click Save All Arts to sate alla Save Save and Sub