Australian Taxation Law

You NEED to havelatest edition of this book for referencing “Principles of taxation law 2016, 9th edn, Thomson Reuters” <- MUST HAVE book do not attempt without this book’s latest edition. Other books for referencing are: “Fundamental Tax Legislation 2016, Thomson Reuters” “Australian taxation law cases 2016, Thomson Reuters”. Also use https://www.austlii.edu.au/ for at least as 1 or more source reference. ALL THE REFERENCED ARTICLES, JOURNAL,BOOKS etc MUST BE AUSTRALIAN EDITIONS ONLY. DO NOT USE ANY FOREIGN EDITION/MATERIAL. Questions to answer in this assignment after reading given info: a) Discuss with reference to appropriate legislation, case law and/or rulings whether X & Y are carrying on a business for taxation law purposes in either the 2015 or 2016 income years. b) Discuss with reference to appropriate legislation, case law and/or rulings whether any amounts received in relation to the sale of the design are ordinary income in the 2016 income year c) Briefly discuss with reference to appropriate legislation, case law and/or rulings whether the cash or accruals basis of accounting would apply to X & Y The front style for your answer should be set to “Time New Roman” size 12 with 1.5 line spacing, 2.5cm margin & A4 page layout