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CA ANZ Advanced Tax (Australia) Practice Questions - CA Program Elective Advanced Tax (Australia) Exam

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About this Exam

Prepare with the CA ANZ Advanced Tax (Australia) Practice Questions - CA Program Elective Advanced Tax (Australia) Exam practice quiz. This question bank includes 100 questions covering income, company, business, rate, and asset. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

Sample Questions

Question 1
Under the single entity rule that applies to an Australian income tax consolidated group, how is an intra-group transaction between two wholly owned subsidiary members treated for income tax purposes?
It is recognised at market value, generating an assessable gain to the seller
It is disregarded because the subsidiaries are treated as parts of the head company
It is taxed only if the asset is later sold outside the group within 12 months
It generates a deductible loss to the buyer but no assessable income to the seller
Question 2
What is the maximum net asset value threshold a taxpayer must not exceed (together with connected entities and affiliates) to satisfy the maximum net asset value test for the small business CGT concessions?
$$2 million
$$6 million
$$10 million
$$50 million
Question 3
A private company makes a loan to a shareholder during the year and does not put it on a complying loan agreement before the lodgment day. What is the primary Division 7A consequence?
The loan is automatically forgiven and the company claims a deduction
The shareholder is taken to receive an unfranked deemed dividend up to the company's distributable surplus
The company must pay fringe benefits tax on the loan amount
The loan is rolled over tax-free into the next income year
Question 4
What is the Division 7A benchmark interest rate that applies for the 2025-26 income year for setting the minimum interest on a complying loan?
4.52%
8.37%
8.77%
10.00%
Question 5
Under Part IVA of the Income Tax Assessment Act 1936, what must the Commissioner conclude before cancelling a tax benefit obtained from a scheme?
That the scheme was illegal under the Corporations Act
That a person entered the scheme for the dominant purpose of obtaining a tax benefit
That the taxpayer failed to disclose the scheme in their return
That the scheme produced an accounting loss

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Additional Information

CA ANZ Advanced Tax (Australia) Practice Questions - CA Program Elective Advanced Tax (Australia) Exam

This practice set contains 100 questions from the matching question bank and focuses on income, company, business, rate, and asset. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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Frequently Asked Questions

This quiz contains a total of 100 practice questions carefully selected to test your knowledge on this subject.
Yes, you will have exactly 0 minutes to complete the exam. A countdown timer will be visible once you start.
Yes, you can retake this practice test as many times as you need. The questions and options may be randomized on subsequent attempts to ensure comprehensive learning.

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