{"id":127398,"date":"2021-12-20T00:00:00","date_gmt":"2021-12-20T00:00:00","guid":{"rendered":"https:\/\/nursingstudybay.com\/2021\/12\/20\/acc3tax-s1-2019-group-assignment-assessment\/"},"modified":"2021-12-20T00:00:00","modified_gmt":"2021-12-20T00:00:00","slug":"acc3tax-s1-2019-group-assignment-assessment","status":"publish","type":"post","link":"https:\/\/www.studyproessays.com\/help\/acc3tax-s1-2019-group-assignment-assessment\/","title":{"rendered":"ACC3TAX S1 2019 Group Assignment Assessment"},"content":{"rendered":"

ACC3TAX S1 2018 Group Assignment Page 1 of 2
\nGroup Assignment Instructions
\nCarefully read the instructions below before submitting your assignment
\nDue date: EXTENDED DEADLINE applicable to all students: 11pm on Friday 18 May 2018 (Friday of week 10).
\nWeight: 15% of the total ACC3TAX assessment. The assignment will be marked out of 30 marks and the final score will be scaled
\ndown to reflect the 15% weight. Example: Raw score = 28\/30, final assignment score = 14\/15.
\nGroups: Groups of minimum 2 maximum 3 students (any 3 ACC3TAX students within any workshop, as long as they are all
\nenrolled in the same campus). It is strongly recommended you obtain your group members\u2019 contact details and organise at least
\none meeting to discuss the assignment case.
\nSubmission: Only one assignment per group must be submitted electronically via LMS link. Submit your group assignment in
\none single Word or PDF file. No hard copy required. Professional presentation and logical\/legal reasoning, with correct
\napplication of legislation and cases are part of the assessment. Similarity reports are generated when assignments are
\nsubmitted. If you receive a high similarity report, you may re-submit your assignment as many times as necessary until the
\ndeadline (note: when you re-submit an assessment it may take 24 hours for a new similarity report to be issued). Resubmissions after the deadline will count as late submissions and will be penalised in accordance with the Late Submissions
\nPolicy (see below).
\nAcademic Integrity: All assignments are electronically checked for plagiarism and collusion. Assignments are also checked for
\ncontract cheating (where a student submits an assignment which is not of their own authorship, e.g.: purchase of assignments
\nthrough specialised websites). Suspected cases of academic misconduct will be reported to the Academic Integrity Adviser for
\nthe appropriate measures. Please refer to the Academic Integrity policy
\n(https:\/\/policies.latrobe.edu.au\/document\/view.php?id=221) for details.
\nLate submission policy: Late submissions will be penalised in accordance with the Late Submissions Policy
\n(https:\/\/policies.latrobe.edu.au\/document\/view.php?id=148).
\nSpecial Consideration and Extensions: Extensions to the deadline will be granted only on exceptional and unforeseen
\ncircumstances in accordance with the Special Considerations policy and procedures
\n(https:\/\/policies.latrobe.edu.au\/document\/view.php?id=205).
\nReferencing and assignment format: Acknowledge the source of any materials used in the assignment via footnote references.
\nFor tips on acknowledgement, referencing and plagiarism please refer to: https:\/\/www.latrobe.edu.au\/library\/assignmentthesis-support\/referencing. Always use academic formal language, ensuring your paragraphs are written in a clear and logical
\nway. Legibility and logical sequence are part of the assessment.
\nAssessment criteria: Assignments will be assessed against the SILOs for the assessment. In particular, assignments will be
\nassessed based on objective demonstration of the following:
\n1) Engagement of critical thinking and interpretation skills to correctly identify the issues to be analysed in the case study.
\n2) Application of critical thinking, interpretation and analytical skills to develop a meaningful analysis of the issue(s)
\npreviously identified, with detailed and analytical application of tax concepts, tax principles, legislation and case law.
\nMere citation, transcription or repetition of theory, concepts, legislation and case law without proper application will
\nnot attract any marks.
\n3) Correct application of tax concepts and case law principles to calculate tax liability (if required). Calculations must be
\nfully stated and supported by applicable legislation and case law (where case law is required).
\n4) Elaboration of a solution to the issues presented in the case study, referring to the elements analysed and concluding
\nthe case.
\nFeedback: Specific written feedback will be provided via LMS. General verbal feedback will be provided in workshops.
\nGraduate capabilities: The following Graduate Capabilities are assessed in this assignment:
\n\uf0b7 Writing \u2013 Writing skills are assessed based on the quality of the arguments presented, marks are attributed where
\nstudent presents a well organised essay written in academic English, with logically sequenced and coherent paragraphs
\nand proper application of legislation and case law. A good essay must be clear, objective, and easily understandable,
\nand must provide a conclusion that is logically derived from the arguments presented. Essays whose paragraphs are not
\nlogically organised, with tautological arguments and poor syntax will receive less marks depending on the quality of the
\nwork presented.
\n\uf0b7 Quantitative Literacy \u2013 Quantitative literacy is assessed based on the demonstrated capacity to correctly interpret the
\ninformation provided in the question as well as any informed values based on Business\/Accounting concepts and
\ngeneral knowledge expected from final year Business\/Accounting students.
\n\uf0b7 Critical Thinking \/ Creative Problem-Solving – Critical thinking\/Creative Problem Solving skills are assessed based on the
\nstudent\u2019s demonstrated capacity to make reasonable, justifiable and original assumptions leading to a correct and
\ncoherent conclusion grounded on legal provisions and case law precedents.
\nACC3TAX S1 2018 Group Assignment Page 2 of 2
\nGroup Assignment Case Study and Questions
\nCase study
\nEmily Baff is a 43 year-old marketing director employed by Rockwood Pty Ltd in Melbourne. Emily engages your services for the
\npreparation of her 2017\/18 tax return. On 04 August 2018 Emily sends you the email below.
\nFrom: Emily Baff
\nSent: 4 August 2018, 9:00:43 AM
\nTo: Tax Accountant
\nSubject: Tax return 2017\/18 \u2013 Emily Baff
\nAttachments: Emily Baff \u2013 Payment Summary 2017\/18
\nDear Tax Accounting Team,
\nAs discussed, please find attached my 2017\/18 payment summary. Also, below is additional information which may be
\nof Helpance in the preparation of my tax return.
\n\uf0b7 My health insurance policy number is 123456-78 and I have top hospital cover.
\n\uf0b7 Since I was promoted to my current Marketing Director position, Rockwood provided me with a Toyota Corolla
\nat no cost (although I know the car cost them $25,000) except for fuel, which costs me $80 per month. I\u2019ve
\nbeen driving this car since 1 October 2017, to and from work and on the weekends, but not to visit clients (I
\nprefer to take an Uber to visit clients so I can work during the trips).
\n\uf0b7 On 1 January 2017 I took a loan with Rockwood of $600,000 at an interest of 4% per annum. I used $400,000
\nto buy an investment property in Inverloch\/VIC, and the rest I used to pay off my home mortgage.
\n\uf0b7 I signed the contract to purchase the Inverloch house on 10 August 2017 and it has been rented at $1,500 per
\nmonth since 1 September 2017. On 1 October 2017 the tenants advised of a leak on the roof, so I had it fixed
\nat a cost of $22,000. It was that expensive because 1\/3 of the roof had to be replaced, and I paid this amount
\nin full on 04 October 2017 when the service was completed.
\n\uf0b7 I also had a new air-conditioner installed at the master bedroom of the Inverloch property on 10 December
\n2017 at a cost of $4,000 (I have all the receipts for these expenses). As the tenants told me this air-conditioner
\nwas excellent, I actually bought a second one and had it installed in my own house in Richmond on 25 January
\n2018.
\n\uf0b7 On 15 May 2018 I sold 3,000 BHP shares for $10,000. I had bought those shares in 2014 for $6,000. Earlier this
\nyear (in February) I made a loss of $3,000 on the sale of all my ACACIA shares that I had purchased in
\nDecember 2017. Luckily, in June this year the share marked recovered and I was able to sell my Orica shares
\n(which I had bought in November last year for $4,000) at a capital gain of $5,000 on 30 June 2018.
\n\uf0b7 Last year I had a capital loss of $4,000. I am not sure what to do with it, could you please advise?
\n\uf0b7 Two years ago I bought an antique tea set with 4 teacups for $499. In March this year I sold each cup
\nseparately for $200.
\nThere is one more issue I need to discuss with you. In March this year I spent $25,000 in legal fees while suing my
\nprevious employer who, during my employment time, consistently paid me 25% less than a male colleague who held an
\nequivalent position and performed exactly the same functions as me. We ended up settling the dispute out of Court
\nand I agreed to receive a payment of $350,000 in arrears and moral damages, which were paid in a lump sum on 15
\nJune this year. This is a significant amount and I don’t want to have trouble with the ATO. Could you please provide me
\nwith a separate letter of advice explaining the income tax consequences related to the legal fees I incurred and the
\npayment I received?
\nI look forward to hearing back from you with my completed tax return and supporting schedules; as well as the
\naforementioned letter of advice.
\nKind regards,
\nEmily Baff
\nMarketing Director \u2013 Rockwood Ltd
\ne.baff@rockwood.com.au
\nRequired
\nA) Prepare Emily Baff\u2019s statement of taxable income and calculate her total tax liability (including Medicare Levy) for the
\nyear ending 30 June 2018. State all calculations and include any necessary explanatory notes and supporting schedules,
\napplying legislation and case law. (15 marks)
\nB) Prepare a letter of advice outlining the tax consequences related to the legal fees incurred and the lump sum payment
\nreceived by Emily in connection with the lawsuit for the year ending 30 June 2018, applying legislation and case law to
\nsupport your letter. (15 marks)<\/e.baff@rockwood.com.au><\/p>\n","protected":false},"excerpt":{"rendered":"

ACC3TAX S1 2018 Group Assignment Page 1 of 2 Group Assignment Instructions Carefully read the instructions below before submitting your assignment Due date: EXTENDED DEADLINE\u2026<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7641,8827,10535,10533,10534,10531,10529,6744,10532,10530,7741],"tags":[10553,10549,10616,10615,7687,10254,10627,10104,10247,8857,10552,10295,10900,2984,3903,10548,10622,8901,10551,8907],"class_list":["post-127398","post","type-post","status-publish","format-standard","hentry","category-australia-essay-writers","category-australia-essays","category-do-my-university-assignment-for-me","category-essay-pro-dissertation-writers","category-homework-help-services-best-websites","category-i-need-help-writing-a-page-paper-assignment","category-masters-essays","category-nursing-studybay","category-pay-someone-to-write-a-paper-for-you","category-website-that-writes-assignments","category-studybay","tag-1-assignment-help-online-service-for-students-in-the-usa","tag-ai-plagiarism-free-essay-writing-tool","tag-australian-best-tutors","tag-best-trans-tutors","tag-buy-essay-uk","tag-can-someone-write-my-assignment-for-me","tag-cheap-dissertation-writer","tag-essypro","tag-help-me-write-my-dissertation","tag-help-with-writing-an-essay","tag-help-write-my-paper-ai-free","tag-homework-for-you","tag-nursing-bay","tag-nursing-essay","tag-nursing-study-bay","tag-online-essay-writers","tag-phd-essays","tag-studbay","tag-write-my-assignment-help-for-college-students","tag-write-my-essay-for-me"],"_links":{"self":[{"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/posts\/127398","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/comments?post=127398"}],"version-history":[{"count":0,"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/posts\/127398\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/media?parent=127398"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/categories?post=127398"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/tags?post=127398"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}