HA3042 Taxation Law Project- calculating the taxable income

Stuck on Your Question?

Get 24x7 live help from our Top Tutors. All subjects covered.

Enter e-mail

Phone no

Pages

250 words

Deadline

Order description (write / attach)

I accept the T&C and other policies of the website and agree to receive offers and updates.

Students Who Viewed This Also Studied

11 Pages

HI6028 Taxation Theory, Practice and the Law

Course

HI6028

Type

Home Work

Subject

Tax

University

Holmes Institute

View Document

19 Pages

ACCG3020 Taxation Law and Practice

Course

ACCG3020

Type

Programming

Subject

Tax

University

Macquarie University

View Document

13 Pages

LAW505 Taxation 1

Course

LAW505

Type

Essay

Subject

Tax

University

Charles Sturt University

Season

Fall

View Document

32 Pages

HI6028 Taxation Theory Practice and Law

Question: Students are required to follow the instructions by your lecturer to confirm any relevant information. You also need to follow any relevant announcement on Blackboard to confirm the due ...

Course

HI6028

Type

Assignment

Subject

Tax

University

Holmes Institute

Season

Spring

View Document

HA3042 Taxation Law Project

Question

Answered

Task:

Purpose of the assessmnent

Students are required to follow the instructions provided by the Unit Coordinator to confirm any relevant information. You also need to refer to the relevant announcement(s) on Blackboard to confirm the due date and the time of the assignment.

The individual assignment will assess students on the following learning outcomes, as listed below:

1. Identify the sources of taxation law and the framework in which taxation is administered
2. Identify various types of taxation including income tax, consumption taxes, goods and services tax, taxes on capital and fringe benefits tax
3. Identify and apply the fundamentals of calculating the taxable income and tax payable for individuals and business entities
4. Communicate knowledge of taxation law, through written and/or Oral communication, and be able to demonstrate critical thinking and
legal analytical skills.

Purpose:

This individual assignment aims to assess students on learning outcomes 1, 2, 3 and 5 as mentioned above. This assignment covers the following key topics: Specific Deductions, Individual Income Tax and Fringe Benefits Tax (FBT). Students need to research these two (2) topics, as stated above, and apply their knowledge from the relevant weeks 1 – 10, before attempting these questions.

Question 1
Required:

Based on the information above, advise your client of the capital gains tax consequences for each of the transactions stated above. Ignore indexation. Your answer must include references to the relevant tax law and/or cases.

a) Determine Sita’s capital gain or loss for the sale of land.
b) Determine Sita’s capital gain or loss for the sale of shares.
c) Determine Sita’s capital gain or loss for the sale of grand piano
d) Determine Sita’s Net capital gain or Loss for the 2020 Income Tax return

Question 2

Required:

a) Based on your knowledge of Capital Allowances and the low value asset pool, calculate Sharma’s depreciation deduction for the year.

HA3042 Taxation Law Project

Answer in Detail

i Solved by qualified expert

Get Access to This Answer

Get Answer

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Hac habitasse platea dictumst vestibulum rhoncus est pellentesque. Amet dictum sit amet justo donec enim diam vulputate ut. Neque convallis a cras semper auctor neque vitae. Elit at imperdiet dui accumsan. Nisl condimentum id venenatis a condimentum vitae sapien pellentesque. Imperdiet massa tincidunt nunc pulvinar sapien et ligula. Malesuada fames ac turpis egestas maecenas pharetra convallis posuere. Et ultrices neque ornare aenean euismod. Suscipit tellus mauris a diam maecenas sed enim. Potenti nullam ac tortor vitae purus faucibus ornare. Morbi tristique senectus et netus et malesuada. Morbi tristique senectus et netus et malesuada. Tellus pellentesque eu tincidunt tortor aliquam. Sit amet purus gravida quis blandit. Nec feugiat in fermentum posuere urna. Vel orci porta non pulvinar neque laoreet suspendisse interdum. Ultricies tristique nulla aliquet enim tortor at auctor urna. Orci sagittis eu volutpat odio facilisis mauris sit amet.

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.

Page 1 of 10

9 More Pages to Come in This Document. Get access to the complete answer.

More HA3042 HA3042 Taxation Law Project: Questions & Answers

Tax

HI6028

Holmes Institute

HI6028 Taxation Theory, Practice and the Law

Task: The individual assignment will assess students on the following learning outcomes: 1. Demonstrate an understanding of the Australian income tax system, the concept of deductions, CGT, general anti-avoidance provisions and income tax administration. (ULO 1). 2. Identify and critically analys ...

View Answer

Tax

ACCG3020

Macquarie University

ACCG3020 Taxation Law and Practice

Assignment Scott McDonald, who originally hails from Brisbane is a distinguished oncologist and has lived in the US since July 1985. In May 1985 he purchased an investment property with the proceeds of an inheritance from his grandfather’s estate. The property which cost $AU 85,000 is in the ...

View Answer

Tax

LAW505

Charles Sturt University

LAW505 Taxation 1

Question: Question 1 Sophie Jones, an Australian resident, owns and operates a beauty clinic specialising in laser cosmetic procedures. She has a reputation as being competent and trustworthy and obtains much of her business by word-of-mouth. In August she ordered a new laser machine from FracPro ...

View Answer

Tax

HI6028

Holmes Institute

HI6028 Taxation Theory Practice and Law

Question: Students are required to follow the instructions by your lecturer to confirm any relevant information. You also need to follow any relevant announcement on Blackboard to confirm the due date and time of the assignment. Learning outcomes: Demonstrate an understanding of the Austral ...

View Answer

Choose Our Best Expert to Help You

Ryan Williams

Master's in Ancient History

13 - Completed Orders

Hire Me

Matthew Jenner

Master's in Ancient History

7 - Completed Orders

Hire Me

Samuel Callaway

Master's in Ancient History

9 - Completed Orders

Hire Me

Chris Watkins

Master's in Roman History

12 - Completed Orders

Hire Me

Securing Higher Grades Costing Your Pocket? FLAT 25% OFF on all orders

Phone no. Missing!

Files Missing!

Guaranteed Higher Grade!

HA3042 Taxation Law Project