Martha is a resident who is 40 years old and has $170,000 of taxable income for the current income year. Calculate her basic income tax liability.] Requirements – DEFINE + Relevant Sections + FORMULA + Show Calculation + Income Brackets - Tax Rates Part Two: Ordinary income In 1979, a doctor who lived and worked in Sydney purchased a 20 acre parcel of rural land on the outskirts of the city for $100,000. Over the years, he used the property as a "hobby farm" for growing "fruit trees" and as a "weekend retreat" for relaxation. Recently, the surrounding area has become more developed and the property has increased in value substantially. The doctor has also recently run into financial difficulties as a result of a malpractice suit and he is considering selling the property. Advise him as to whether he would be required to include any amount in his assessable income as a result of the sale. REQUIREMENTS – ORIDINARY INCOME DEFINE – SECTION? LITTLE OF CAPITAL GAINS TAX CAPITAL RECEIPTS? EXPLAIN 1-2 SIMILAR CASES Part Three: General deductions Compare the decision in FC of T v Anstis (2009) with the decisions in Lunney and Hayley v FC of T (1958) and FC of T v Maddalena. Is it possible to reconcile the outcomes in these cases? REQUIREMENS – TALK ABOUT GENEREAL DEDUCTIONS WHAT ARE THE SIMILARITIES BETWEEN THESE CASES WHAT ARE THE DIFFERENCES BETWEEN THESE CASES & HOW IS IT DIFFERENT/OUTCOMES? PROVIDE SUMMARY OF EACH CASE FIRST AND DISCUSS SIMILARITIES & DIFFERENCES? Part Four: Provisions that deny or limit deductions Discuss some of the circumstances in which entertainment expenditure is deductible? REQUIREMENTS – COVER ALL SECTIONS? TALK ABOUT CASES OR GIVE EXAMPLE DIFFERENT AREAS ALLOWED Requirements: 1. No word limit provided (around 1000 words more or less) 2. 4-5 references 3. Australian Law to Legal citations 4. Turn it in report required 5. MOST IMPORTANT: you have done another assignment for a classmate of mine so please make sure this looks very different and nothing compared to the earlier.