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Define assessable income

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Question -

(a) Define Assessable Income. List the different types of Income included as an Assessable Income for an Individual Taxpayer.

(b) List the different types of allowable deductions available to an individual taxpayer earning wages and salary.

(c) List different sources of Revenue Gathering practices. Briefly discuss about them along with suitable examples.

(d) List different types of Revenue Documentation required in order to lodge the Income Tax Return for a Business Taxpayer.

(e) Name and briefly describe three items of legislation or codes of practice that affect preparation of Tax Returns for clients.

Reference no: EM132224148

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