Question

1. For the purpose of the Medicare Levy Surcharge, what are reportable superannuation contributions and reportable fringe benefits, and how do these amounts effect the calculation of the Medicare Levy Surcharge?
2. What are the 6 types of tax ruling? Explain each one.

country: Australia

Answer 1

1. Reportable superannuation contributions includes- Ans MLS ( Medical Leny surcharge) Reportable Deductible personal super Reportable hinge benefits includes car Parking fringe benefits Remou alea hailing desistance entertainment security benefits checabinae maurel employer super contribution contribution . health care > ) 4. area costs of in Menote а a leasing benefits major Australian Kopulation to a centre. calculation of MLS - total net The of Tax 1. taxable income, total reportable fringe benefits, income for MLS includes inuestment losses & reportable superannuation contribution rate being either 1%, 1-25 or 1-5% The MLS rate applied only only to taxable income. 6 Types of Tax ruling - | Public ruling - 4 includes the taxation ruling), ITR ( incorne" Tar ruling),.GSTR (Goods & seruilis Tat ruling ) Tanation 'Determination 70), GSTO, CR (class' ruling & PR Product Ruling). Private ruling- ģnterpretive decisions (ID's) oral ruling - Advice on tan affairs who is indini Administrative binding advice we prouidemethis 5. Carly engagement for aduice - formal aduice Law companion ruling. Type of Public ruling applies . dual. 3 4 to 5 the tax discuss 6 Gure niew ш how low And Please UPVOTED THANK YOU !!!