Expanding on key topics and legislation from the Australian Master Tax Guide, this title guides you through operation of tax law by way of over 240 case study type examples, updated to the 2020–21 tax year, that relate to situations encountered in practice by you and your clients. Useful for accountants, tax agents and consultants, lecturers teaching tax and their students. Each example is presented as a case study and contains an “Issue” and a “Solution”. Along with fully worked calculations where applicable. The examples are also cross-referenced to Wolters Kluwer’s market-leading Australian Master Tax Guide. New examples cover the introduction of Temporary Full Expensing, loss carry back rules for companies and the treatment of COVID-19 grants and concessions amongst many others.

Australian Practical Tax Examples covers the following 12 important topics:

• Administration and assessment                                             
• Assessable income                                                                      
• Capital gains tax                                                                            
• Companies and distributions                                                   
• Deductions                                                                                     
• Depreciation 
• Fringe benefits tax
• Goods and services tax and other indirect taxes
• Indirect taxes
• Individuals
• Partnerships
• Trading Stock
• Trusts