Assessment Task \u2013 Tutorial Questions
\nUnit Code: HI6028
\nUnit Name: Taxation Theory, Practice & Law
\nAssignment: Tutorial Questions
\nDue: 11:59pm (AEST), Thursday, October 15, 2020
\nWeighting: 50%
\nTotal Assignment Marks: 50 Marks
\nPurpose: This assignment is designed to assess your level of knowledge of the key topic (sample nursing essay examples by the best nursing assignment writing service)s covered in this unit
\nUnit Learning Outcomes Assessed:
\n1. Demonstrate an understanding of the Australian income tax system, the concepts of income and
\ndeductions, taxation of company, GST, general anti-avoidance provisions and income tax
\nadministration, partnership
\n2. Identify and critically analyse taxation issues;
\n3. Interpret the relevant taxation legislations and case law;
\n4. Apply taxation principles to real life problems.
\nDescription: Each week students were provided with three tutorial questions of varying degrees of difficulty. The
\ntutorial questions are available in the Tutorial Folder, for each week, on Blackboard. The Interactive Tutorials are
\ndesigned to Help students with the process, skills and knowledge to answer the provided tutorial questions. Your task
\nis to answer a selection of tutorial question for weeks 1 to 12 inclusive and submit these answers in a single document.
\nSubmission Directions:
\nThe assignment will be submitted via Blackboard. Each student will be permitted only ONE submission to
\nBlackboard. You need to ensure that the document submitted is the correct one.
\nThe questions to be answered are;
\nQuestion 1 – week 2 [Essay writing service – your education, our expertise: Get any assignment done with our professional essay writers before your deadlines – Zero AI, Human experts and Fast delivery.] (7 marks)
\nPablo is a Portuguese resident employed by a Portuguese company. He is sent to Australia to work on a shortterm project ( help with nursing paper writing from experts with MSN & DNP degrees) to Help with the establishment of a branch office of the company in Australia. Pablo works in
\nAustralia for one month. Throughout this period, his salary was paid into his Portuguese bank account. During
\nthe year, he earned the equivalent of A$120,000 from his employment. Does Pablo have to pay Australian tax
\non any of his salary?
\nQuestion 2 – Week 3 (7 marks)
\nExplain the respective outcomes reached by the courts in the following case involving sales of land: Californian
\nCopper Syndicate Ltd v Harris
\nQuestion 3 – Week 9 (7 marks)
\nSurfs Up P\/L is a national retailer that sells a range of surfing and water sports equipment (surfboards, clothing,
\netc.) with an annual turnover of $60 million. Surfs Up purchases \u201cBillapro\u201d surfboards for $440 each from
\nBillapong P\/L, a large manufacturer of surfboards located at Gold Coast with an annual turnover of around $45
\nmillion, this was their only sale for the month. Surfs Up plans to sell the Surfboards at a 200% mark-up to its
\ncustomers. In October last year it purchased 370 surfboards but a couple of months later (December) they
\ndiscovered that 14 of the surfboards were faulty and subsequently returned these faulty surfboards to the
\nmanufacturer, obtaining a full refund. Assume both apply the accrual method of accounting.
\nRequirement:
\nExplain the GST consequences of this arrangement for both companies.
\nQuestion 4 – Week 10 (11 marks)
\nMelbourne Awesome Ltd supplies a wide range of folding bicycles. Melbourne Awesome Ltd derives Australian
\nsourced income for the current tax year comprising net income from trading of $80,000, franked distribution
\nfrom public companies amounting to $28,000, (carrying an imputation credit of $12,000), unfranked
\ndistributions from resident private companies amounting to $25,000 and rental income of $5,500. Melbourne
\nAwesome Ltd also have total deductions (Business Expenses) totaling $55,000.
\nRequired:
\nCalculate the net tax payable by All Sports Ltd for the year ended 30 June 2019. (Assume company tax rate is
\n30%)
\nQuestion 5 – Week 11 (7 marks)
\nDiscuss the ATO\u2019s \u2018Test Case Litigation Program\u2019
\nQuestion 6 – Week 12 (11 marks)
\nRichard is a retired solicitor. His wife Tracy is a retired school teacher. Both wish to remain active and they
\ninvest in a gift shop that is to be managed by their daughter Alice, who is aged 35. They form a partnership
\nof three called \u201cAlice’s Gift Shop\u201d.
\nRichard and Tracy contributed $40,000 each to fund the purchase of the shop. The partnership agreement
\nprovides:
\n\u2022 Both Richard and Tracy are to receive interest at the rate of 10% p.a. on their capital
\ncontribution of $40,000.
\n\u2022 Alice will receive a salary of $25,000 for the management of the shop, as well as
\nsuperannuation contributions of $6,000.
\n\u2022 A car will be leased by the business and provided to Alice.
\n\u2022 All profits and losses are to be shared equally between the three partners.
\nThe accounts for this income year show the following:
\nIncome ($)
\nSales (excluding GST) 240,000
\nExpenses ($)
\nCost of goods sold 130,000
\nInterest on capital paid to Richard and Tracy 8,000
\nSalary to Alice 25,000
\nSuperannuation to Alice 6,000
\nLease payments on car (excluding GST) 7,000
\nOther deductible operating expenses (excluding GST) 14,000
\nThe leased car was used 80% of the time for business and 20% of the time for private purposes.
\nRequired:
\nWith reference to the facts above:
\nA.Calculate the net income of the partnership.
\nB.Show the allocation of net income to each of the three partners.
\nC.You must refer to relevant legislation and\/or case law in your answer.
\nAcademic Integrity
\nHolmes Institute is committed to ensuring and upholding Academic Integrity, as Academic Integrity is integral
\nto maintaining academic quality and the reputation of Holmes\u2019 graduates. Accordingly, all assessment tasks
\nneed to comply with academic integrity guidelines. Table 1 identifies the six categories of Academic Integrity
\nbreaches. If you have any questions about Academic Integrity issues related to your assessment tasks, please
\nconsult your lecturer or tutor for relevant referencing guidelines and support resources. Many of these
\nresources can also be found through the Study Skills link on Blackboard.
\nAcademic Integrity breaches are a serious offence punishable by penalties that may range from deduction of
\nmarks, failure of the assessment task or unit involved, suspension of course enrolment, or cancellation of
\ncourse enrolment.
\nTable 1: Six categories of Academic Integrity breaches
\nPlagiarism Reproducing the work of someone else without attribution. When a student
\nsubmits their own work on multiple occasions this is known as self-plagiarism.
\nCollusion Working with one or more other individuals to complete an assignment, in a way
\nthat is not authorised.
\nCopying Reproducing and submitting the work of another student, with or without their
\nknowledge. If a student fails to take reasonable precautions to prevent their own
\noriginal work from being copied, this may also be considered an offence.
\nImpersonation Falsely presenting oneself, or engaging someone else to present as oneself, in an
\nin-person examination.
\nContract cheating Contracting a third party to complete an assessment task, generally in exchange
\nfor money or other manner of payment.
\nData fabrication and
\nfalsification
\nManipulating or inventing data with the intent of supporting false conclusions,
\nincluding manipulating images.
\nSource: INQAAHE, 2020
\nIf any words or ideas used the assignment submission do not represent your original words or ideas, you must
\ncite all relevant sources and make clear the extent to which such sources were used.
\nIn addition, written assignments that are similar or identical to those of another student is also a violation of
\nthe Holmes Institute\u2019s Academic Conduct and Integrity policy. The consequence for a violation of this policy
\ncan incur a range of penalties varying from a 50% penalty through suspension of enrolment. The penalty
\nwould be dependent on the extent of academic misconduct and your history of academic misconduct issues.
\nAll assessments will be automatically submitted to SelfAssign to assess their originality.
\nFurther Information:
\nFor further information and additional learning resources please refer to your Discussion Board for the unit.z<\/p>\n","protected":false},"excerpt":{"rendered":"
Assessment Task \u2013 Tutorial Questions Unit Code: HI6028 Unit Name: Taxation Theory, Practice & Law Assignment: Tutorial Questions Due: 11:59pm (AEST), Thursday, October 15, 2020\u2026<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7641,10683,7638,10681,10686,10687,7639,10684,7549,7640,10680,7637],"tags":[10553,10549,10616,10615,7687,10627,10247,8857,10552,10295,10548,10622,8907],"class_list":["post-133016","post","type-post","status-publish","format-standard","hentry","category-australia-essay-writers","category-bachelor-thesis-writing-service","category-canada-essay-writers","category-cheap-dissertation-help-online","category-dissertation-assignment-help-uae","category-dissertation-help-tiktok","category-ireland-essay-writers","category-master-thesis-writing-services-india","category-thesis-writing-writing-help-australia","category-uae-essay-writers","category-university-dissertation-writing-service","category-usa-essay-writers","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-cheap-dissertation-writer","tag-help-me-write-my-dissertation","tag-help-with-writing-an-essay","tag-help-write-my-paper-ai-free","tag-homework-for-you","tag-online-essay-writers","tag-phd-essays","tag-write-my-essay-for-me"],"_links":{"self":[{"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/posts\/133016","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=133016"}],"version-history":[{"count":0,"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/posts\/133016\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/media?parent=133016"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/categories?post=133016"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/tags?post=133016"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}