1. What is an assessable income for income tax purpose? 2. What are five tax

1. What is an assessable income for income tax purpose?
2. What are five tax deductions that are available to small business owners with a turnover under $1 million per annum?
3. Describe the applicable criteria for Medicare levy and Medicare Surcharge in an individual tax return. In what circumstances can the levy be exempted?
4. What are the available methods for calculating deductions for car expenses? Support your answer with an example
Please describe and explain so I could learn. Thank you.