Australian Taxation Law
\nOrder Description
\nYou NEED to havelatest edition of this book for referencing “Principles of taxation law 2016, 9th edn, Thomson Reuters” <- MUST HAVE book do not attempt without this book’s latest edition. Other books for referencing are: “Fundamental Tax Legislation 2016, Thomson Reuters” “Australian taxation law cases 2016, Thomson Reuters”. Also use https:\/\/www.austlii.edu.au\/ for at least as 1 or more source reference. ALL THE REFERENCED ARTICLES, JOURNAL,BOOKS etc MUST BE AUSTRALIAN EDITIONS ONLY. DO NOT USE ANY FOREIGN EDITION\/MATERIAL.<\/p>\n
Questions to answer in this assignment after reading given info:
\na) Discuss with reference to appropriate legislation, case law and\/or rulings whether X & Y are carrying on a business for taxation law purposes in either the 2015 or 2016 income
\nyears.
\nb) Discuss with reference to appropriate legislation, case law and\/or rulings whether any amounts
\nreceived in relation to the sale of the design are ordinary income in the 2016 income year
\nc) Briefly discuss with reference to appropriate legislation, case law and\/or rulings whether the
\ncash or accruals basis of accounting would apply to X & Y<\/p>\n
The front style for your answer should be set to \u201cTime New Roman\u201d size 12 with 1.5 line spacing, 2.5cm margin & A4 page layout<\/p>\n
– Assignment 2
\nLAW6001 Assessment Brief 3 Case Study
\nPage1of10
\nASSESSMENT BRIEF
\nSubject Code and Title LAW 6001 Taxation Law
\nAssessment Assessment 3: Case Study
\nIndividual\/Group Individual
\nLength 2500 \u2013 3000 words +\/_ 10%
\nLearning Outcomes Thiscasestudymustbepresentedasanindividualeffort. The case
\nstudy requires individual research. The course manual andset
\ntextsareintendedtobethestartingpointofthe research. Itis
\nexpectedthestudentwillsurveytherelevant literature, including
\ndecided cases, and select appropriate additionalresources.
\nThecasestudyisdesignedtoincorporateuncertainty. The
\nstudentisexpectedtodevelopapieceofworkwhichis written
\nadvicefortheirclient. Itmustthereforeidentifythe factsandissues
\npresentedbyeachaspectofthecasestudy, identifyandapplythe
\nrelevantlegislationand\/orcaselaw, cometoaconclusionand
\nmakearecommendationtothe client.
\nSpecific learning outcomes
\nb) Explainethicalandprofessionalresponsibilitiesoftax agents
\nundertheincludingobligationsundertheTaxAgent ServicesAct
\n2009(TASA)andTaxAgentServicesRegulations 2009 (TASR).
\nc) InterpretandapplyselectedsectionsoftheIncomeTax
\nAssessmentActITAA36andITAA97.
\nd) Identifyandanalysethetaxtreatmentofvarioustypesof
\nincome anddeductions.
\ne) Effectively apply taxation law in determining tax outcomes in
\nvariousscenarios andstructures.
\nSubmission By 11:55pm AEST\/AEDT Sunday of Week 9
\nWeighting 20%
\nTotal Marks 100 marks
\nLAW6001 Assessment Brief 3 Case Study
\nPage2of10
\nContext:
\nThis assessment assesses your research skills, your ability to synthesise an original piece of work to specific
\ncontent requirements and your ability to produce a comprehensible piece of advice which addressing the
\nclient\u2019s needs.
\nIt also assesses your written communication skills. The ability to deliver to a brief is an essential skill in the
\nworkplace. Clients may well approach advisors seeking a combination of specific information needs and
\nadvice on the tax implications of a particular arrangement in the Australian tax jurisdiction. It is therefore
\nimportant to be able to identify all the issues presented by an arrangement and to think about the
\npotential consequences of different approaches to addressing the client\u2019s needs.
\nInstructions:
\nYour case study needs to identify and discuss the tax implications of the various issues raised. In order to
\nproduce your case study, you will need to review relevant case law and legislation. The subject manual and
\nset texts are starting points only, you will be expected to use these initial materials to identify potential
\nuseful resources. You will then need to review your selected resources to see if they value add to your
\nanalysis.
\nYour case study is not just a list of answers. Your reasons for your conclusions and recommendations must
\nbe based on your research into the relevant cases and legislation.
\nLAW6001 Assessment Brief 3 Case Study
\nPage3of10
\nQuestion 1 (20 marks)
\nYvonne Merrick, the holder of a British passport and a relevant working visa, arrived in Australia from the
\nUK in January 2009 and started work as an administrator in a Brisbane hospital. On 10 July 2017 she
\ntravelled back to the UK for personal reasons and worked in odd jobs until 1 April 2018 when she returned
\nto Brisbane and resumed her position at the hospital. While in the UK she continued to maintain the
\napartment she had bought in Brisbane and her Australian bank account. She was on \u201cleave without pay\u201d
\nfrom her job at the hospital.
\nDuring the 2017\/18 year Yvonne was paid $25,000 for her work in the UK and $15,000 for her work as an
\nadministrator in Australia. UK tax of $3,000 was deducted from her salary. She was paid a bonus of
\n$12,000 on 15 February 2018 for her work in 2017. She also received $2,000 interest on the savings in her
\nAustralian bank account and a fully franked dividend of $700 from her share investments in the Australian
\ncompany HAL Corporation Ltd. On 1 July 2018 Yvonne left Australia indefinitely to take up a full-time
\nposition as a senior administrator in a UK hospital. In the 2018\/19 income year, she was paid a salary of
\n$70,000 for her work in the UK hospital. Tax amounting to $7,000 was deducted from her UK salary. For
\nthe 2018\/19 year Yvonne received interest of $2,400 on her Australian bank account and a fully franked
\ndividend of $900 on her shares.
\nUpon leaving Australia, Yvonne sold all of her furniture and leased the apartment she owns for $600 per
\nweek. For the 2018\/19 year she received $23,400 rental income.
\nRequired
\nAdvise Yvonne as to her Australian assessable income and tax payable for the 2017\/18 and 2018\/19 tax
\nyears.
\nQuestion 2 (20 marks)
\nGordon Haddad is employed by Hardware and Software Technologies Ltd (HSTL) as an information
\ntechnology engineer. The company\u2019s head office is in Melbourne City and Gordon\u2019s employment requires
\nhim to travel to regional areas and interstate. Gordon has negotiated a salary package comprising: an
\nannual salary of $95,000, an entertainment allowance of $7,500, a mobile phone and internet allowance
\nof $10,000, a living away from home allowance of $12,000, reimbursement of car expenses for use of his
\nown vehicle (based on kilometers travelled) at $1.20 per kilometer, and a car parking space at the
\ncompany\u2019s head office in the city.
\nRequired
\nAdvise Gordon on the tax treatment of each component of the salary package and the items that are
\nincluded in Gordon\u2019s assessable income.
\nQuestion 3 (20 marks)
\nBelinda Choy is a doctor previously employed by State Wide Medical (SWM) and currently working in sole
\npractice. On 25 June 2016, while Belinda was employed by SWM, a bonus was declared for all employees.
\nBelinda\u2019s bonus was $7,500 which was paid to her bank account on 1 July 2016. For the 2016\/17 year of
\nincome Belinda received an annual salary of $75,000 from SWM. She requested that she be paid $50,000
\nover the course of 2016\/17 and the remaining $25,000 in September 2017. On 1 June 2017 Belinda
\nqualified for long service leave and received a lump sum payment of $18,000. On 1 July 2017 Belinda
\nresigned from SWM and established her own sole medical practice. Belinda employed a receptionist and a
\nLAW6001 Assessment Brief 3 Case Study
\nPage4of10
\nnurse. Belinda\u2019s income and expenditure for 2017\/18 and 2018\/19 were as follows:
\n2017\/18
\nCash payments received from patients \u2014 $80,000
\nUnpaid patient accounts and Medicare reimbursements as at 30 June 2018 \u2014 $45,000
\nMedicare reimbursements \u2014 $30,000
\nSalary and wages for receptionist and practice nurse \u2014 $65,000
\nSundry expenses \u2014 $8,500
\n2018\/19
\nCash payments received from patients \u2014 $120,000
\nUnpaid patient accounts and Medicare reimbursements as at 30 June 2019 \u2014 $34,000
\nMedicare reimbursements \u2014 $48,000
\nReceipt of unpaid patient accounts and Medicare reimbursements as at 30 June 2018 \u2014 $45,000
\nSalary and wages for receptionist and practice nurse \u2014 $72,000
\nSundry expenses \u2014 $9,800
\nRequired
\nAdvise Belinda Choy on her assessable income for the 2016\/17, 2017\/18 and 2018\/19 income years.
\nQuestion 4 (20 marks)
\nMultimedia Systems Pty Ltd (MSPL) is the manufacturer and supplier\/retailer of home media and
\nentertainment systems. MSPL not only manufactures and sells home media and entertainment systems
\nbut is also available to install the systems in customer\u2019s homes. For the 2017\/18 income year MSPL\u2019s
\nfinancial position was:
\nCash Sales revenue $260,000
\nCredit Sales \u2013 Accounts receivable as at 30 June $85,000 (included in Sales revenue for 2017\/18)
\nFor the 2018\/19 income year MSPL\u2019s financial position was:
\nCash Sales revenue $290,000
\nCredit Sales \u2013 Accounts receivable as at 30 June $95,000
\nDuring 2018\/19, MSPL received instalment payments in advance that amounted to $40,000, although
\ninstallations completed by the end of the year totaled $25,000. MSPL is required to provide a one-year
\nguarantee\/warranty. Industry experience has shown that guarantee\/warranty claims amount to 5% of
\nsales revenue.
\nRequired
\nCalculate the assessable income for MSPL for the 2017\/18 and 2018\/19 income years.
\nQuestion 5 (20 marks)
\nLAW6001 Assessment Brief 3 Case Study
\nPage5of10
\nRyan Saunders purchased an apartment from Anna Lowe in April 2010 for use as an investment property.
\nThe property was acquired by Anna off-the-plan in 2002 and was used as her main residence. Anna left for
\noverseas soon after the sale to Ryan. Ryan rented the apartment to tenants until he sold it in March 2019.
\nAs the relevant information was not available to him, Ryan did not claim deductions for capital works
\ndeductions under ITAA97 Div 43 for the income years in which the property was used to produce
\nassessable income. Ryan also did not obtain a building cost estimate from a quantity surveyor as he did
\nnot want to incur the expense.
\nRyan has become aware that broadly, the CGT provisions require a taxpayer to reduce the cost base or
\nreduced cost base of a CGT asset to the extent that the taxpayer has deducted or can deduct expenditure
\nin an income year under Div 43.
\nRequired
\nAdvise Ryan if he is still required to reduce the cost base or reduced cost base of the property in working
\nout his capital gain or loss, even though he is unable to obtain the relevant information to do so?
\nLAW6001 Assessment Brief 3 Case Study Page 6 of 10
\nLearning Rubrics
\nAssessment
\nAttributes Fail (Unacceptable) Pass
\n(Functional)
\nCredit
\n(Proficient)
\nDistinction
\n(Advanced)
\nHigh Distinction
\n(Exceptional)
\nGrade Description
\n(Grading Scheme)
\nEvidence of unsatisfactory
\nachievement of one or more of the
\nlearning objectives of the course,
\ninsufficient understanding of the
\ncourse content and\/or unsatisfactory
\nlevel of skill development.
\nEvidence of
\nsatisfactory
\nachievement of
\ncourse learning
\nobjectives, the
\ndevelopment of
\nrelevant skills to a
\ncompetent level, and
\nadequate
\ninterpretation and
\ncritical analysis skills.
\nEvidence of a good
\nlevel of
\nunderstanding,
\nknowledge and skill
\ndevelopment in
\nrelation to the content
\nof the course or work
\nof a superior quality
\non the majority of the
\nlearning objectives of
\nthe course.
\nDemonstration of a
\nhigh level of
\ninterpretation and
\ncritical analysis skills.
\nEvidence of a
\nhigh level of
\nachievement of
\nthe learning
\nobjectives of the
\ncourse
\ndemonstrated in
\nsuch areas as
\ninterpretation and
\ncritical analysis,
\nlogical argument,
\nuse of
\nmethodology and
\ncommunication
\nskills.
\nEvidence of an
\nexceptional level of
\nachievement of
\nlearning objectives
\nacross the entire
\ncontent of the
\ncourse
\ndemonstrated in
\nsuch areas as
\ninterpretation and
\ncritical analysis,
\nlogical argument,
\ncreativity, originality,
\nuse of methodology
\nand communication
\nskills.
\nKnowledge and
\nunderstanding
\nLimited understanding of required
\nconcepts and knowledge
\nKey components of the assignment
\nare not addressed.
\nKnowledge or
\nunderstanding of the
\nfield or discipline.
\nResembles a recall or
\nsummary of key
\nideas.
\nOften
\nconflates\/confuses
\nassertion of personal
\nopinion with
\ninformation
\nThorough knowledge
\nor understanding of
\nthe field or
\ndiscipline\/s. Supports
\npersonal opinion and
\ninformation
\nsubstantiated by
\nevidence from the
\nresearch\/course
\nmaterials.
\nDemonstrates a
\ncapacity to explain
\nHighly developed
\nunderstanding of
\nthe field or
\ndiscipline\/s.
\nDiscriminates
\nbetween
\nassertion of
\npersonal opinion
\nand information
\nsubstantiated by
\nrobust evidence
\nfrom the
\nA sophisticated
\nunderstanding of the
\nfield or discipline\/s.
\nSystematically and
\ncritically
\ndiscriminates
\nbetween assertion
\nof personal opinion
\nand information
\nsubstantiated by
\nrobust evidence
\nfrom the
\nLAW6001 Assessment Brief 3 Case Study Page 7 of 10
\n30%
\nPoints for this
\ncriteria
\n0-2
\nsubstantiated by
\nevidence from the
\nresearch\/course
\nmaterials.
\n3-4
\nand apply relevant
\nconcepts.
\n5-6
\nresearch\/course
\nmaterials and
\nextended
\nreading.
\nWell
\ndemonstrated
\ncapacity to
\nexplain and apply
\nrelevant
\nconcepts.
\n7-8
\nresearch\/course
\nmaterials and
\nextended reading.
\nMastery of concepts
\nand application to
\nnew
\nsituations\/further
\nlearning.
\n9-10
\nCritical reasoning,
\npresentation and
\ndefence of an
\nargument and\/or
\nposition
\n30%
\nPoints for this
\ncriteria
\nSpecific position (perspective or
\nargument) fails to take into account
\nthe complexities of the issue(s) or
\nscope of the assignment.
\nMakes assertions that are not
\njustified.
\n0-2
\nSpecific position
\n(perspective or
\nargument) begins to
\ntake into account the
\nissue(s) or scope of
\nthe assignment.
\nJustifies any
\nconclusions reached
\nwith arguments not
\nmerely assertion.
\n3 -4
\nSpecific position
\n(perspective or
\nargument) takes into
\naccount the
\ncomplexities of the
\nissue(s) or scope of
\nthe assignment.
\nOthers\u2019 points of view
\nare acknowledged.
\nJustifies any
\nconclusions reached
\nwith well-formed
\narguments not merely
\nassertion.
\n5-6
\nSpecific position
\n(perspective or
\nargument) is
\nexpertly
\npresented and
\naccurately takes
\ninto account the
\ncomplexities of
\nthe issue(s) and
\nscope of the
\nassignment.
\nJustifies any
\nconclusions
\nreached with
\nwell-developed
\narguments.
\n7-8
\nSpecific position
\n(perspective or
\nargument) is
\npresented expertly,
\nauthoritatively and
\nimaginatively,
\naccurately taking
\ninto account the
\ncomplexities of the
\nissue(s) and scope
\nof the assignment.
\nLimits of position are
\nacknowledged.
\nJustifies any
\nconclusions reached
\nwith sophisticated
\narguments.
\n9-10
\nLAW6001 Assessment Brief 3 Case Study Page 8 of 10
\nPoint range
\nFormation of
\nrecommendations
\nbased on the
\nidentification of the
\nissues and the
\napplication of case
\nlaw principles and
\nrelevant legislation
\nidentified in the
\nresearch process.
\n20%
\nPoints for this
\ncriteria
\nDifficulty in formulating own opinion
\nand a lack of recognition of the
\nvarious issues. A lack of application
\nof the relevant case law and\/or
\nrelevant legislation
\n0-2
\nDifficulty in justifying
\nown opinion. Some
\nrecognition and
\ndiscussion of the
\nvarious issues.
\nSome application of
\nthe relevant case law
\nand\/or relevant
\nlegislation
\n3 – 4
\nOwn opinion is partly
\njustified with
\nreference to case law
\nand\/or relevant
\nlegislation.
\nRecognition and
\ndiscussion of the
\nvarious issues
\nidentified in the
\nquestion Application
\nof the relevant case
\nlaw and\/or relevant
\nlegislation to these
\nissues
\n5-6
\nOwn opinion is
\njustified with
\nreference to case
\nlaw and\/or
\nrelevant
\nlegislation.
\nRecognition and
\ndiscussion of the
\nvarious issues
\nidentified in the
\nquestion plus
\nothers identified
\nby the student
\nApplication of the
\nrelevant case law
\nand\/or relevant
\nlegislation to
\nthese issues
\n7- 8
\nSophisticated
\narguments
\nsupporting own
\nopinion is justified
\nwith reference to
\ncase law and\/or
\nrelevant legislation.
\nRecognition and
\ndiscussion of the
\nvarious issues
\nidentified in the
\nquestion plus others
\nidentified by the
\nstudent and
\nproblems identified
\nApplication of the
\nrelevant case law
\nand\/or relevant
\nlegislation to these
\nissues
\n9-10
\nUse of academic
\nand discipline
\nconventions and
\nsources of evidence
\nPoorly written with errors in spelling,
\ngrammar.
\nDemonstrates inconsistent use of
\ngood quality, credible and relevant
\nresearch sources to support and
\ndevelop ideas.
\nIs written according to
\nacademic genre (e.g.
\nwith introduction,
\nconclusion or
\nsummary) and has
\naccurate spelling,
\ngrammar, sentence
\nand paragraph
\nIs well-written and
\nadheres to the
\nacademic genre (e.g.
\nwith introduction,
\nconclusion or
\nsummary).
\nDemonstrates
\nIs very wellwritten and
\nadheres to the
\nacademic genre.
\nConsistently
\ndemonstrates
\nexpert use of
\nExpertly written and
\nadheres to the
\nacademic genre.
\nDemonstrates
\nexpert use of highquality, credible and
\nrelevant research
\nLAW6001 Assessment Brief 3 Case Study Page 9 of 10
\n10%
\nPoints for this
\ncriteria
\nThere are mistakes in using the APA
\nstyle.
\n0-2
\nconstruction.
\nDemonstrates
\nconsistent use of
\ncredible and relevant
\nresearch sources to
\nsupport and develop
\nideas, but these are
\nnot always explicit or
\nwell developed.
\nThere are no
\nmistakes in using the
\nAPA style.
\n3-4
\nconsistent use of high
\nquality, credible and
\nrelevant research
\nsources to support
\nand develop ideas.
\nThere are no
\nmistakes in using the
\nAPA style.
\n5-6
\ngood quality,
\ncredible and
\nrelevant research
\nsources to
\nsupport and
\ndevelop
\nappropriate
\narguments and
\nstatements.
\nShows evidence
\nof reading
\nbeyond the key
\nreading
\nThere are no
\nmistakes in using
\nthe APA style.
\n7-8
\nsources to support
\nand develop
\narguments and
\nposition statements.
\nShows extensive
\nevidence of reading
\nbeyond the key
\nreading
\nThere are no
\nmistakes in using
\nthe APA Style.
\n9-10
\nEffective
\ncommunication
\n10%
\nPoints for this
\ncriteria
\nThe reader has difficulty following
\nthe points being made, lack of
\nlogical\/clear
\nStructure, poor flow of ideas,
\nargument lacks supporting evidence
\n0-2
\nThe arguments and
\nsupporting evidence
\nare not always
\npresented in clear
\nand logical manner.
\nSpelling errors and
\nsentence structure
\nmakes meaning
\nunclear
\n3-4
\nInformation,
\narguments and
\nevidence are well
\npresented, relevant
\nand show a clear flow
\nof ideas with logical
\ndevelopment
\n5-6
\nThe information,
\narguments and
\nevidence are very
\nwell presented,
\nwith clear logical
\ndevelopment of
\nideas which
\nanswer the issue
\nas set, with some
\nconsideration of
\nrelated or flow
\nissues
\n7-8
\nExcellent
\npresentation with
\nclear and logical
\narguments
\nsupported by
\nrelevant and varied
\nevidence. The
\nstudent answers the
\nissue and considers
\nin detail some
\nrelated or flow
\nissues with possible
\nramifications.
\n9-10
\nLAW6001 Assessment Brief 3 Case Study Page 10 of 10<\/p>\n","protected":false},"excerpt":{"rendered":"
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