1. You need to discuss and justify the partnership deductions (both those you included and excluded) and then the capital gains for one of the partners. This will be in the written section (body) of your report. You do not need to discuss other income or the tax calculation components. You should use headings and sub-headings to indicate what you are discussing, e.g. “Partnership Deductions”, “Non-deductible Items”, “Capital Gains” etc. You should also refer to the section of the appendices that contains the calculations for the items you are discussing. No calculations should appear in the body of the report.
2. You need to calculate the s 90 net income and s 92 distribution for the partnership. You should also calculate the tax payable or refund amount for Carl Crabapple only. Note that Carl has also had capital gains events as an individual taxpayer outside of the partnership. All calculations will be in your appendices. You should set out your calculations neatly and label them clearly.
You MUST support your discussion with an explanation of the relevant law and with section numbers, case law and rulings where appropriate. Referencing lecture slides, paragraphs in the Principles of Taxation or the ATO website in general (as opposed to legislation, cases or rulings) will NOT achieve any marks. This is a tax law assignment, you should NOT reference academic journal articles