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LAW301 Taxation Law

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LAW301 Taxation Law

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Question:

1. Contrast the different conclusions reached by the courts in Smith v FC of T 87 ATC 4883 and Payne V FC of T 96 ATC 4407.(2.5 Marks)
 
2. In what circumstances does S102 ITAA36 apply? Why did it not apply in Truesdale v FC of T 70 ATC 4056?(2.5 Marks)
 
3. On 10 January 2020 PHANTOM Pty Ltd acquired a disused building in Sydney to operate a printing supplies branch. Because of the need to install heavy printing equipment, PHANTOM Pty Ltd spent $50,000 in resurfacing and strengthening part of the floor.

A few days later in order to comply with company branding, PHANTOM Pty Ltd also replaced the glass-top reception desk with an elegant wooden reception desk at a cost of $11,500.

Part 1

Advise PHANTOM Pty Ltd on the deductibility of the floor resurfacing and strengthening (for the heavy printing equipment).  

Part 2

Advise PHANTOM Pty Ltd on the deductibility of the reception desk.

In your response ensure you state the appropriate legislation, tax rulings or common law cases to support your answer.  Your answers should address the taxation law in terms of general deductions, repairs, capital works, general capital allowances and simplified Depreciation rules.  

LAW301 Taxation Law

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Tellus molestie nunc non blandit massa enim nec dui. Tellus molestie nunc non blandit massa enim nec dui. Ac tortor vitae purus faucibus ornare suspendisse sed nisi. Pharetra et ultrices neque ornare aenean euismod. Pretium viverra suspendisse potenti nullam ac tortor vitae. Morbi quis commodo odio aenean sed. At consectetur lorem donec massa sapien faucibus et. Nisi quis eleifend quam adipiscing vitae proin sagittis nisl rhoncus. Duis at tellus at urna condimentum mattis pellentesque. Vivamus at augue eget arcu dictum varius duis at. Justo donec enim diam vulputate ut. Blandit libero volutpat sed cras ornare arcu. Ac felis donec et odio pellentesque diam volutpat commodo. Convallis a cras semper auctor neque. Tempus iaculis urna id volutpat lacus. Tortor consequat id porta nibh.

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Carter Pty Ltd (Carter) is a company owned by Julie and Cameron Carter (equal 50% shareholding) and it makes its profit by offering building supplies at a discounted rate to house and land developers. It has been doing this since its incorporation in 2012. In July 2016 Carter purchased three adjacen ...

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