70548 \u2013 HOLMESINSTITUTEFACULTY OF HIGHEREDUCATIONAssessment Details
\nHOLMES
\nINSTITUTE
\nFACULTY OF HIGHER
\nEDUCATION
\nAssessment Details and Submission Guidelines
\nTrimester T3 2021
\nUnit Code HI6028
\nUnit Title Taxation Theory, Practice & Law
\nAssessment Type Individual Assignment
\nAssessment Title Case Studies of Specific Deductions and Tax Liability
\nPurpose of the assessment (with ULO
\nMapping) Students are required to follow the instructions by your lecturer to confirm any relevant information. You also need to follow any relevant announcement on Blackboard to confirm the due date and time of the assignment.
\nThe individual assignment will assess students on the following learning outcomes:
\n1. Demonstrate an understanding of the Australian income tax system, the concept of FBT, Ordinary Income, general anti-avoidance provisions and income tax administration. (ULO 1).
\n2. Identify and critically analyse taxation issues. (ULO 2).
\n3. Interpret the relevant taxation legislations and case law. (ULO 3).
\n4. Apply taxation principles to real life problems. (ULO 4).
\nWeight This assignment task accounts for 40 % of total marks in this unit.
\nTotal Marks This assignment task accounts for 40% marks of total marks in this unit.
\nWord limit Max 1500 words
\nDue Date Week 9, 28 January 2022 (Before 11.59 PM AEST)
\nHI6028 Taxation Theory, Practice and Law Individual Assignment T3.2021
\nSubmission Guidelines Instructions: Please read carefully to avoid mistakes.
\n\u2022 Answer all questions.
\n\u2022 This assignment along with a completed Assignment Cover Page is to be submitted on Blackboard by the due date in soft copy only.
\n\u2022 The self-check links are no longer available as a separate link in each unit\u2019s assessment. Students are now limited to attempt any given assignment submission a maximum of once. After this attempt you will receive a SafeAssign originality report with Blackboard Learning Management System. This will provide detailed information about the matches found between your submitted works and existing sources.
\n\u2022 The assignment is to be submitted in accordance with assessment policy stated in the Unit Outline and Student Handbook.
\n\u2022 It is the responsibility of the student submitting the work to ensure that the work is in fact his\/her own work. Incorporating another\u2019s work or ideas into one\u2019s own work without appropriate acknowledgement is an academic offence.
\n\u2022 The assignment must be in MS Word format, no spacing, 12-pt Arial font and 2 cm margins on all four sides of your page with appropriate section headings and page numbers.
\n\u2022 Harvard Reference sources must be cited in the text of the report and listed appropriately at the end in a reference list using Adopted Harvard referencing style. You also must refer to relevant legislation and\/or case law in your answer. Reference sources must be cited in the text of the report and listed appropriately at the end in a reference list using Harvard referencing style. Penalty for not providing references is 5 marks.
\n\u2022 Note: Assessment task is set around the work that you have done in class. You are not expected to go outside the content of the unit, but you are expected to explore it.
\nAssignments\u2019 Instructions and Requirements
\nQuestion 1 (25 Marks)
\nPart A. Andrew is employed as a salesperson of a solar company. His employer requires him to travel extensively during the year for work-related purposes. With reference to relevant legislation, discuss the ways (methods) Andrew might be able to claim deductions for his car expenses (15 Marks)
\nPart B. John, the owner of the solar company, purchased a Mercedes car and will be used 100% for business purposes on 1 November 2021 at a cost of $118,000 (inc GST) estimated to have a useful life of ten years.
\nRequired: With reference to relevant legislation, discuss and calculate what amount is allowed as a deduction for the decline in value of the machinery and the car discussed above, using both prime cost and diminishing value methods (10 Marks)
\nHI6028 Taxation Theory, Practice and Law Individual Assignment T3.2021
\nQUESTION 2 (15 MARKS)
\nA new client, Mery, is your first client. She requires to lodge her income tax for 2020\/21. Furthermore, she has done some charitable works this year. So, she wants to know about the legal provisions and asks what types of entities are exempt from income tax? Answer the question.
\nFurthermore, she gave her annual income and deduction below. Calculate her Total Assessable Income, Taxable Income, Total tax Liability, including Medicare Levy and Medicare Levy Surcharge, if applicable, for the taxpayer (Mery ) with the information below:
\n\u2022 Mery is a resident single mom with one dependent child (7 years old) taxpayer of Australia for the tax year 2020-2021
\n\u2022 Her Taxable Salary earned is $102,000 (Including tax withheld) having no private health insurance.
\n\u2022 She had a $7,000 deduction.
\n\u2022 Mery has a student loan outstanding for his previous studies at Queensland University technology of $42,000.
\n\u2022 Mery\u2019s employer pays superannuation guarantee charge of 10% on top of her salary to her nominated fund.
\n\u2022 Mery earned a passive income of $6,000 from the investments in shares in the same tax year.
\nHint: The following website can be used to cross check your answers, but you need to provide the detailed calculations, rates and explanations with the screenshots of rates from ATO website.
\nhttps:\/\/www.paycalculator.com.au\/
\nSubmission guide: Strictly NO excel sheet(s) or the screenshots of excel calculations and\/or tables are allowed and NO marks will be granted if these are submitted. But no referencing is required for this question. Kindly use word document tables for your answers and please avoid writing the calculations in narration format.
\nQUESTION 2: Income Tax Calculation and explanation Weighting
\nAnswer tax related questions 5%
\nTotal Assessable Income 1 %
\nTotal Taxable Income 1 %
\nHELP repayment amount 1 %
\nMedicare Levy 1 %
\nMedicare Levy Surcharge 1 %
\nTotal Tax Liability 3 %
\nNet Tax Liability (Total Tax Liability less any applicable tax offset if any) 2 %
\nAcademic Integrity
\nHolmes Institute is committed to ensuring and upholding Academic Integrity, as Academic Integrity is integral to maintaining academic quality and the reputation of Holmes\u2019 graduates. Accordingly, all assessment tasks need to comply with academic integrity guidelines. Table 1 identifies the six categories of Academic Integrity breaches. If you have any questions about Academic Integrity issues related to your assessment tasks, please consult your lecturer or tutor for relevant referencing guidelines and support resources. Many of these resources can also be found through the Study Sills link on Blackboard.
\nAcademic Integrity breaches are a serious offence punishable by penalties that may range from deduction of marks, failure of the assessment task or unit involved, suspension of course enrolment, or cancellation of course enrolment.
\nTable 1: Six categories of Academic Integrity breaches
\nPlagiarism Reproducing the work of someone else without attribution. When a student submits 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 that is not authorised.
\nCopying Reproducing and submitting the work of another student, with or without their knowledge. If a student fails to take reasonable precautions to prevent their own original 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 in-person examination.
\nContract cheating Contracting a third party to complete an assessment task, generally in exchange for money or other manner of payment.
\nData fabrication falsification and Manipulating or inventing data with the intent of supporting false conclusions, including manipulating images.
\nSource: INQAAHE, 2020
\nIf any words or ideas used the assignment submission do not represent your original words or ideas, you must cite all relevant sources and make clear the extent to which such sources were used.
\nHI6028 Taxation Theory, Practice and Law Individual Assignment T3.2021
\nIn addition, written assignments that are similar or identical to those of another student is also a violation of the Holmes Institute\u2019s Academic Conduct and Integrity policy.
\nThe consequences for a violation of this policy include a range of penalties varying from a 50% penalty through suspension of enrolment. The penalty would be dependent on the extent of academic misconduct and your history of academic misconduct issues.
\nAll assessments will be automatically submitted to SafeAssign to assess their originality.
\nFor further information and additional learning resources please refer to your Discussion Board for the unit.<\/p>\n
—<\/p>\n
70548 – HOLMESINSTITUTEFACULTY OF HIGHER EDUCATIONAssessment Specifications
\nHOLMESsINSTITUTE<\/p>\n
HIGHER EDUCATION FACULTY<\/p>\n
EDUCATION<\/p>\n
Assessment Specifications and Submission Procedures<\/p>\n
T3 Trimester 2021<\/p>\n
HI6028 is the unit code.<\/p>\n
Taxation Theory, Practice, and Law is the title of this unit.<\/p>\n
Individual Assignment as an Assessment Type<\/p>\n
Case Studies of Specific Deductions and Tax Liability Assessment Title<\/p>\n
The assessment’s purpose (with ULO)<\/p>\n
Mapping) Students must follow the lecturer’s directions to confirm any necessary information. You must also keep an eye out for any pertinent announcements on Blackboard to confirm the assignment’s due date and time.<\/p>\n
Students will be graded on the following learning outcomes as a result of their individual assignment:<\/p>\n
1. Demonstrate knowledge of the Australian income tax system, including FBT, Ordinary Income, general anti-avoidance laws, and income tax administration. (ULO 1) Formalized paraphrase<\/p>\n
2. Recognize and critically evaluate<\/p>\n","protected":false},"excerpt":{"rendered":"
70548 \u2013 HOLMESINSTITUTEFACULTY OF HIGHEREDUCATIONAssessment Details HOLMES INSTITUTE FACULTY OF HIGHER EDUCATION Assessment Details and Submission Guidelines Trimester T3 2021 Unit Code HI6028 Unit Title\u2026<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8797,8792,8791,8795,8796,8798,8785,8800,8786,8784,8788,8794,8793,8789,8799,8790,8787],"tags":[7555,7554,7550,7553,7551,7558,7556,7552,7557,7324],"class_list":["post-92868","post","type-post","status-publish","format-standard","hentry","category-assignment-helper","category-assignment-writers","category-assignment-writing-services-near-me","category-best-assignment-writing-service","category-engineering-assignment-writing-service","category-essay-writing-help-free-essay-writer","category-homework-help-free","category-homework-help-global-tiktok-guy","category-homework-help-online","category-homework-help-websites","category-homework-solver","category-homework-writer-free","category-homework-writer-online","category-homework-writing-jobs","category-homework-writing-machine","category-homework-writing-services-online","category-top-homework-helper","tag-assignment-writer","tag-assignment-writing-service-uk-essays","tag-assignment-writing-service-uk-with-20-off-assignment-help","tag-cheap-assignment-writing-service-uk","tag-cheap-uk-assignment-writing-services","tag-custom-assignment-writing-and-proofreading-service","tag-online-assignment-help-uk","tag-uk-assignment-geek","tag-uks-1-experts-proofreaders-hire-our-thesis-advisors","tag-university-assignment-help"],"_links":{"self":[{"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/posts\/92868","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\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/comments?post=92868"}],"version-history":[{"count":0,"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/posts\/92868\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/media?parent=92868"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/categories?post=92868"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/tags?post=92868"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}