HOLMES
INSTITUTE
FACULTY OF HIGHER
EDUCATION
Assessment Details and Submission Guidelines
Trimester T3 2021
Unit Code HI6028
Unit Title Taxation Idea, Apply & Regulation
Assessment Kind Particular person Project
Assessment Title Case Research of Particular Deductions and Tax Legal responsibility
Objective of the Assessment (with ULO
Mapping) College students are required to comply with the directions by your lecturer to verify any related info. You additionally must comply with any related announcement on Blackboard to verify the due date and time of the task.
The person task will assess college students on the next studying outcomes:
1. Exhibit an understanding of the Australian revenue tax system, the idea of FBT, Peculiar Revenue, basic anti-avoidance provisions and revenue tax administration. (ULO 1).
2. Determine and critically analyse taxation points. (ULO 2).
three. Interpret the related taxation legislations and case legislation. (ULO three).
four. Apply taxation rules to actual life issues. (ULO four).
Weight This task job accounts for 40 % of whole marks on this unit.
Whole Marks This task job accounts for 40% marks of whole marks on this unit.
Phrase restrict Max 1500 phrases
Due Date Week 9, 28 January 2022 (Earlier than 11.59 PM AEST)
HI6028 Taxation Idea, Apply and Regulation Particular person Project T3.2021
Submission Guidelines Directions: Please learn rigorously to keep away from errors.
• Reply all questions.
• This task together with a accomplished Project Cowl Web page is to be submitted on Blackboard by the due date in comfortable copy solely.
• The self-check hyperlinks are now not accessible as a separate hyperlink in every unit’s Assessment. College students are actually restricted to aim any given task submission a most of as soon as. After this try you’ll obtain a SafeAssign originality report with Blackboard Studying Administration System. This may present detailed details about the matches discovered between your submitted works and current sources.
• The task is to be submitted in accordance with Assessment coverage acknowledged within the Unit Define and Pupil Handbook.
• It’s the duty of the scholar submitting the work to make sure that the work is in actual fact his/her personal work. Incorporating one other’s work or concepts into one’s personal work with out acceptable acknowledgement is an educational offence.
• The task have to be in MS Phrase format, no spacing, 12-pt Arial font and 2 cm margins on all 4 sides of your web page with acceptable part headings and web page numbers.
• Harvard Reference sources have to be cited within the textual content of the report and listed appropriately on the finish in a reference record utilizing Adopted Harvard referencing fashion. You additionally should seek advice from related laws and/or case legislation in your reply. Reference sources have to be cited within the textual content of the report and listed appropriately on the finish in a reference record utilizing Harvard referencing fashion. Penalty for not offering references is 5 marks.
• Notice: Assessment job is about across the work that you’ve got executed at school. You aren’t anticipated to go exterior the content material of the unit, however you’re anticipated to discover it.
Assignments’ Directions and Necessities
Question Assignment 1 (25 Marks)
Half A. Andrew is employed as a salesman of a photo voltaic firm. His employer requires him to journey extensively throughout the 12 months for work-related functions. On the subject of related laws, focus on the methods (strategies) Andrew may be capable to declare deductions for his automotive bills (15 Marks)
Half B. John, the proprietor of the photo voltaic firm, bought a Mercedes automotive and might be used 100% for enterprise functions on 1 November 2021 at a value of $118,000 (inc GST) estimated to have a helpful lifetime of ten years.
Required: On the subject of related laws, focus on and calculate what quantity is allowed as a deduction for the decline in worth of the equipment and the automotive mentioned above, utilizing each prime price and diminishing worth strategies (10 Marks)
HI6028 Taxation Idea, Apply and Regulation Particular person Project T3.2021
QUESTION 2 (15 MARKS)
A brand new shopper, Mery, is your first shopper. She requires to lodge her revenue tax for 2020/21. Moreover, she has executed some charitable works this 12 months. So, she desires to know concerning the authorized provisions and asks what varieties of entities are exempt from revenue tax? Reply the Question Assignment.
Moreover, she gave her annual revenue and deduction beneath. Calculate her Whole Assessable Revenue, Taxable Revenue, Whole tax Legal responsibility, together with Medicare Levy and Medicare Levy Surcharge, if relevant, for the taxpayer (Mery ) with the data beneath:
• Mery is a resident single mother with one dependent youngster (7 years outdated) taxpayer of Australia for the tax 12 months 2020-2021
• Her Taxable Wage earned is $102,000 (Together with tax withheld) having no personal medical health insurance.
• She had a $7,000 deduction.
• Mery has a pupil mortgage excellent for his earlier research at Queensland College know-how of $42,000.
• Mery’s employer pays superannuation assure cost of 10% on high of her wage to her nominated fund.
• Mery earned a passive revenue of $6,000 from the investments in shares in the identical tax 12 months.
Trace: The next web site can be utilized to cross verify your solutions, however you have to present the detailed calculations, charges and explanations with the screenshots of charges from ATO web site.
https://www.paycalculator.com.au/
Submission information: Strictly NO excel sheet(s) or the screenshots of excel calculations and/or tables are allowed and NO marks might be granted if these are submitted. However no referencing is required for this Question Assignment. Kindly use phrase doc tables on your solutions and please keep away from writing the calculations in narration format.
QUESTION 2: Revenue Tax Calculation and rationalization Weighting
Reply tax associated questions 5%
Whole Assessable Revenue 1 %
Whole Taxable Revenue 1 %
HELP compensation quantity 1 %
Medicare Levy 1 %
Medicare Levy Surcharge 1 %
Whole Tax Legal responsibility three %
Internet Tax Legal responsibility (Whole Tax Legal responsibility much less any relevant tax offset if any) 2 %
Tutorial Integrity
Holmes Institute is dedicated to making sure and upholding Tutorial Integrity, as Tutorial Integrity is integral to sustaining tutorial high quality and the popularity of Holmes’ graduates. Accordingly, all Assessment duties must adjust to tutorial integrity tips. Desk 1 identifies the six classes of Tutorial Integrity breaches. When you’ve got any questions on Tutorial Integrity points associated to your Assessment duties, please seek the advice of your lecturer or tutor for related referencing tips and help sources. Many of those sources may also be discovered via the Examine Sills hyperlink on Blackboard.
Tutorial Integrity breaches are a critical offence punishable by penalties that will vary from deduction of marks, failure of the Assessment job or unit concerned, suspension in fact enrolment, or cancellation in fact enrolment.
Desk 1: Six classes of Tutorial Integrity breaches
Plagiarism Reproducing the work of another person with out attribution. When a pupil submits their very own work on a number of events this is named self-plagiarism.
Collusion Working with a number of different people to finish an task, in a manner that isn’t authorised.
Copying Reproducing and submitting the work of one other pupil, with or with out their information. If a pupil fails to take affordable precautions to stop their very own unique work from being copied, this may occasionally even be thought of an offence.
Impersonation Falsely presenting oneself, or participating another person to current as oneself, in an in-person examination.
Contract dishonest Contracting a 3rd occasion to finish an Assessment job, typically in change for cash or different method of cost.
Information fabrication falsification and Manipulating or inventing knowledge with the intent of supporting false conclusions, together with manipulating photos.
Supply: INQAAHE, 2020
If any phrases or concepts used the task submission don’t signify your unique phrases or concepts, you will need to cite all related sources and clarify the extent to which such sources had been used.
HI6028 Taxation Idea, Apply and Regulation Particular person Project T3.2021
As well as, written assignments which can be related or an identical to these of one other pupil can also be a violation of the Holmes Institute’s Tutorial Conduct and Integrity coverage.
The results for a violation of this coverage embrace a variety of penalties various from a 50% penalty via suspension of enrolment. The penalty can be depending on the extent of educational misconduct and your historical past of educational misconduct points.
All assessments might be robotically submitted to SafeAssign to evaluate their originality.
For additional info and further studying sources please seek advice from your Dialogue Board for the unit.
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HOLMESsINSTITUTE
HIGHER EDUCATION FACULTY
EDUCATION
Assessment Specs and Submission Procedures
T3 Trimester 2021
HI6028 is the unit code.
Taxation Idea, Apply, and Regulation is the title of this unit.
Particular person Project as an Assessment Kind
Case Research of Particular Deductions and Tax Legal responsibility Assessment Title
The Assessment’s function (with ULO)
Mapping) College students should comply with the lecturer’s instructions to verify any mandatory info. You have to additionally maintain an eye fixed out for any pertinent bulletins on Blackboard to verify the task’s due date and time.
College students might be graded on the next studying outcomes on account of their particular person task:
1. Exhibit information of the Australian revenue tax system, together with FBT, Peculiar Revenue, basic anti-avoidance legal guidelines, and revenue tax administration. (ULO 1) Formalized paraphrase
2. Acknowledge and consider taxing difficulties. (ULO No. 2)
three
