Question 1
Henry, a tax resident of Australia, was a famous jazz singer who passed away recently. Jack, a writer was on Henry’s life story and needed to write down a bibliography on Henry’s life. Jack approached Henry’s spouse, Jenny (additionally a tax resident of Australia) to interview her on Henry’s life story. She was supplied $1 million for Henry story. Jenny was paid $500,000 deposit earlier than the interview. After the interview she was paid the steadiness of the cash.
Would the tax penalties have modified if Jenny had written the e book herself?
Required
Advise Jenny on her tax penalties.
You need to cite the related case legislation and laws
(10 marks)
Question 2
Sally is a single dad or mum who is employed as an accountant. So as to attend employment she should put her younger youngster in a day-care centre. Sally considers the expense is essentially incurred in gaining her revenue. Would she be entitled to a tax deduction below s8-1?
Required
Advise Sally of her tax penalties
(10 marks)
Question three
Joseph conducts an plumbing enterprise. With a view to future retirement he purchases 20ha of land and vegetation native wildflowers that he plans to reap and promote. As a preliminary measure he arranges to clear the land and plough in compost. It’s anticipated that the primary business crop is not going to be harvested for 5 years. He incurs curiosity on a mortgage to finance the land buy, land preparation prices, fertilizer prices and prices of buying native seedlings.
Advise Joseph of the tax penalties of the enterprise.
You need to cite the related case legislation and laws
(15 marks)
Rationale
This Assessment activity covers matters from week 1 to 10 and has been designed to make sure that you’re partaking with the topic content material on a common foundation. :
This task has been designed to evaluate your potential to
• have the ability to determine and clarify the foundations of legislation referring to taxation legislation matters coated within the topic
• give you the chance exhibit a capability to have interaction in authorized analysis
• have the ability to use authorized analysis expertise to use the legislation to authorized issues referring to taxation in order to succeed in a answer
• have the ability to analyse authorized guidelines in order to distinguish between potential outcomes to the authorized points arising from novel reality conditions.
College students ought to have the ability to determine and apply laws and case legislation to the problems recognized in addition to exhibit the power to analyse the problems totally and talk about the applying of taxation ideas
Marking standards
In assessing your task the marker will count on you to:
• current an essay that’s readable and coherent;
• use applicable language, appropriate spelling and grammar;
• determine and analyse related points;
• clarify and apply related circumstances, rulings and laws;
• attain a sound and well-reasoned conclusion;
• use applicable referencing; and
• exhibit time administration expertise.
Presentation
• Your reply mustn’t exceed the three,000 phrase restrict, excluding the bibliography. The task should be typed in Instances New Roman, 12 level font, 1.5 spaced and with a minimum of a 2.5cm margin on both sides. You need to use APA referencing system. Case and statute names needs to be italicised.
•
• Please adjust to the next model information:
• 1. Don’t re-state the Question Assignment.
•
• 2. Use in-text referencing. Don’t use footnotes.
•
• three. Names of statutes needs to be italicised, and adopted by the jurisdiction not in italics, for instance: Acts Interpretation Act 1901 (Cth). Be aware the abbreviation for ‘Commonwealth’ is ‘Cth’ not ‘Cwlth’.
•
• four. The names of the events should be italicised, however the quotation should not, for instance: Smith v Jones (1967) 345 CLR 34.
•
• 5. An in-text reference to a e book needs to be structured as follows: (Latimer, 2010, p. 75). There isn’t any have to put the creator’s preliminary. Be aware the positioning of brackets, stops and commas. You utilize ‘pp.’ provided that referring to a couple of web page. In case you are referring to a e book with a couple of creator, the in-text reference can be as follows: (Smith et al, 2002, p. 78).
•
• 6. An in-text reference to the topic’s Modules needs to be structured in brackets as per the next instance – clearly you’ll alter the reference relying on the topic, 12 months of examine and Module quantity: (CSU LAW505 Modules, 2015, Matter 7).
•
• 7. Don’t begin a new line merely since you are beginning a new sentence.
•
• eight. Watch out of apostrophes: director’s = of a director, administrators’ = of many administrators, administrators = many administrators. Additionally significantly prevalent is confusion between its (it possessive) and it is (contraction of “it’s”).
•
• 9. The next phrases all the time begin with a capital letter: Commonwealth, State, Act, Invoice, Regulation, Structure, Parliament. Don’t unnecessarily capitalise different phrases.10. Don’t use phrases resembling cannot, will not, do not and should not, neither ought to one use “i.e.” and “e.g.” in formal writing.
•
• 11. A sentence should all the time start with a full phrase and a capital letter – so a sentence would begin ‘Part 55 says…’, not ‘S 55 says…’ or ‘s 55 says…’
•
• 12. Begin every paragraph on a new line, and depart a clear line hole after the previous paragraph.
•
• 13. You need to put web page numbers in your task.
•
• 14. Quotations, and excerpts from laws needs to be indented from the remainder of the textual content in a separate paragraph. The textual content in quotations shouldn’t be in italics.
•
• 15. You need to finish your task with a bibliography that’s divided into three separate components, itemizing statutes, circumstances and books / articles / on-line Modules.
•
• 16. An inventory of a e book in a bibliography ought to seem in accordance with the next format: Barkoczy, S (2015). Basis of Taxation Legislation 2015, (seventh version), North Ryde: CCH. If itemizing a e book with a number of authors, achieve this as follows:
• Sadiq, Okay, Coleman, C, Hanegbi, R, Jogarajan, S, Krever, R, Obst, W, and Ting, A (2015), Ideas of Taxation Legislation 2015, (eighth version), Pymont: Thomson Reuters
•
• 17. When itemizing statutes on the finish of your task you need to conform to the format: Revenue Tax Assessment Act 1997 (Cth). Checklist the statute solely as soon as – you do NOT listing particular person part numbers relied on. You shouldn’t listing textbooks because the supply of Acts – the Act itself is its personal supply.
•
• 18. When itemizing circumstances conform to the format: Allied Mills Industries Pty Ltd v FC of T 89 ATC 4365.
•
• 19. When itemizing article conform to the format: Jones, J ‘The brand new Assessment of legislation’ (2010) four Journal of Latest Legislation 34.
•
• 20. When itemizing CSU Modules conform to the next format: CSU LAW505 Modules.
•
• 21. Ensure that your sentences are grammatical – it could be helpful to learn your task out loud in case you have any doubts about this.
•
• PLEASE NOTE THAT YOU WILL LOSE MARKS IF YOU DO NOT COMPLY WITH THIS STYLE GUIDE.
•
