Explain the tax consequences from transactions

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Reference no: EM131508698

Australian Tax law

Hana is an employee of Berger Ltd. Berger Ltd made a contribution of $30,000 on behalf of Hana to her superannuation fund (Octo Super) in 2016/17. Hana also made a personal contribution of $130,000 to Octo Super in 2016/17 when she inherited this money on the death of her grandmother. Hana has taxable income of $93,000 in 2016/17, comprising a net capital gain of $9,500 from the sale of shares and salary of $83,500.

Explain the tax consequences from these transactions for:

1. Hana

2. Berger Ltd, and

3. Octo Super

Each student will be required to submit a written analysis (maximum 300 words) of the issues, the law and how to approach solving the question that they have been allocated. It should be an explanation of the issues arising from the question, the taxation law relevant to those issues and a suggestion of how the issues can be solved by application of the law. The written analysis should not include calculations or numerical explanations.

Reference no: EM131508698

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