HOLMES
INSTITUTE
FACULTY OF HIGHER
EDUCATION
Assessment Details and Submission Guidelines
Trimester T3 2021
Unit Code HI6028
Unit Title Taxation Principle, Follow & Legislation
Assessment Sort Particular person Task
Assessment Title Case Research of Particular Deductions and Tax Legal responsibility
Goal of the Assessment (with ULO
Mapping) College students are required to comply with the directions by your lecturer to substantiate any related data. You additionally must comply with any related announcement on Blackboard to substantiate the due date and time of the task.
The person task will assess college students on the next studying outcomes:
1. Display an understanding of the Australian earnings tax system, the idea of FBT, Bizarre Revenue, normal anti-avoidance provisions and earnings 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 activity accounts for 40 % of whole marks on this unit.
Whole Marks This task activity 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 Principle, Follow and Legislation Particular person Task T3.2021
Submission Guidelines Directions: Please learn fastidiously to keep away from errors.
• Reply all questions.
• This task together with a accomplished Task Cowl Web page is to be submitted on Blackboard by the due date in mushy copy solely.
• The self-check hyperlinks are not out there as a separate hyperlink in every unit’s Assessment. College students at the moment are restricted to try 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 can 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 said within the Unit Define and Pupil Handbook.
• It’s the accountability of the coed submitting the work to make sure that the work is actually his/her personal work. Incorporating one other’s work or concepts into one’s personal work with out applicable acknowledgement is an educational offence.
• The task should be in MS Phrase format, no spacing, 12-pt Arial font and 2 cm margins on all 4 sides of your web page with applicable part headings and web page numbers.
• Harvard Reference sources should be cited within the textual content of the report and listed appropriately on the finish in a reference listing utilizing Adopted Harvard referencing type. You additionally should discuss with related laws and/or case legislation in your reply. Reference sources should be cited within the textual content of the report and listed appropriately on the finish in a reference listing utilizing Harvard referencing type. Penalty for not offering references is 5 marks.
• Word: Assessment activity is about across the work that you’ve got carried out in school. You aren’t anticipated to go outdoors the content material of the unit, however you might be 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 yr for work-related functions. On the subject of related laws, focus on the methods (strategies) Andrew may be capable to declare deductions for his automobile bills (15 Marks)
Half B. John, the proprietor of the photo voltaic firm, bought a Mercedes automobile and shall 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 automobile mentioned above, utilizing each prime value and diminishing worth strategies (10 Marks)
HI6028 Taxation Principle, Follow and Legislation Particular person Task T3.2021
QUESTION 2 (15 MARKS)
A brand new shopper, Mery, is your first shopper. She requires to lodge her earnings tax for 2020/21. Moreover, she has carried out some charitable works this yr. So, she desires to know in regards to the authorized provisions and asks what sorts of entities are exempt from earnings tax? Reply the Question Assignment.
Moreover, she gave her annual earnings 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 little one (7 years previous) taxpayer of Australia for the tax yr 2020-2021
• Her Taxable Wage earned is $102,000 (Together with tax withheld) having no non-public medical insurance.
• She had a $7,000 deduction.
• Mery has a scholar 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 earnings of $6,000 from the investments in shares in the identical tax yr.
Trace: The next web site can be utilized to cross examine your solutions, however it is advisable 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 shall be granted if these are submitted. However no referencing is required for this Question Assignment. Kindly use phrase doc tables to your solutions and please keep away from writing the calculations in narration format.
QUESTION 2: Revenue Tax Calculation and clarification 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 %
Web Tax Legal responsibility (Whole Tax Legal responsibility much less any relevant tax offset if any) 2 %
Educational Integrity
Holmes Institute is dedicated to making sure and upholding Educational Integrity, as Educational Integrity is integral to sustaining tutorial high quality and the repute of Holmes’ graduates. Accordingly, all Assessment duties must adjust to tutorial integrity tips. Desk 1 identifies the six classes of Educational Integrity breaches. When you’ve got any questions on Educational Integrity points associated to your Assessment duties, please seek the advice of your lecturer or tutor for related referencing tips and help assets. Many of those assets can be discovered by the Research Sills hyperlink on Blackboard.
Educational Integrity breaches are a critical offence punishable by penalties that will vary from deduction of marks, failure of the Assessment activity or unit concerned, suspension after all enrolment, or cancellation after all enrolment.
Desk 1: Six classes of Educational Integrity breaches
Plagiarism Reproducing the work of another person with out attribution. When a scholar submits their very own work on a number of events this is called self-plagiarism.
Collusion Working with a number of different people to finish an task, in a method that’s not authorised.
Copying Reproducing and submitting the work of one other scholar, with or with out their information. If a scholar fails to take cheap 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 celebration to finish an Assessment activity, usually in alternate for cash or different method of fee.
Knowledge fabrication falsification and Manipulating or inventing knowledge with the intent of supporting false conclusions, together with manipulating photographs.
Supply: INQAAHE, 2020
If any phrases or concepts used the task submission don’t signify your unique phrases or concepts, it’s essential to cite all related sources and clarify the extent to which such sources have been used.
HI6028 Taxation Principle, Follow and Legislation Particular person Task T3.2021
As well as, written assignments which are comparable or similar to these of one other scholar can be a violation of the Holmes Institute’s Educational Conduct and Integrity coverage.
The results for a violation of this coverage embrace a spread of penalties various from a 50% penalty by suspension of enrolment. The penalty can be depending on the extent of educational misconduct and your historical past of educational misconduct points.
All assessments shall be routinely submitted to SafeAssign to evaluate their originality.
For additional data and further studying assets please discuss with 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 Principle, Follow, and Legislation is the title of this unit.
Particular person Task as an Assessment Sort
Case Research of Particular Deductions and Tax Legal responsibility Assessment Title
The Assessment’s goal (with ULO)
Mapping) College students should comply with the lecturer’s instructions to substantiate any obligatory data. You will need to additionally preserve an eye fixed out for any pertinent bulletins on Blackboard to substantiate the task’s due date and time.
College students shall be graded on the next studying outcomes because of their particular person task:
1. Display information of the Australian earnings tax system, together with FBT, Bizarre Revenue, normal anti-avoidance legal guidelines, and earnings tax administration. (ULO 1) Formalized paraphrase
2. Acknowledge and consider taxing difficulties. (ULO No. 2)
three
