Hi6028

• Subject Code : HI6028
• University : Holmes Institute My Assignment Services is not sponsored or endorsed by this college or university.
• Subject Name: Taxation Law

Taxation Theory, Practice and Law Table of Contents Question 1: Case of John and his invalid brother Paul Question 2: Case of Oliver and loan fringe benefit Question 3: Case of David and Emma. Question 4: Case of Anna and Eastern Medical Centre. Question 5: Case of DK Pty Ltd and Dennis Denuto. Reference. Question 1: Case of John and His Invalid Brother Paul As per ATO, one cannot claim its tax offset for maintaining an…

• Subject Code : HI6028
• University : Holmes Institute My Assignment Services is not sponsored or endorsed by this college or university.
• Subject Name: Taxation Law

Taxation Theory, Practice and Law - Week 6 According to the rules defined by the Australian Taxation Office in relation to fringe benefits provided by employers, if the employer makes payment for any expense either on behalf of employee or for the benefit of the employee, then it would be regarded an expense payment fringe benefit provided by the employer and employer shall be required to pay FBT o same. The value of an expense payment fringe …

• Subject Code : HI6028
• University : Holmes Institute My Assignment Services is not sponsored or endorsed by this college or university.
• Subject Name: Taxation Law

Taxation Theory, Practice and Law - Question 1 The primary function of taxation laws is ensuring that sufficient revenues have been raised by the governments to spend for public goods. The secondary function of taxation laws is to modify taxpayer behavior. Both the above main functions of taxation are complied under the Commonwealth taxation framework which is discussed as under: Income Tax – tax is levied on the taxable income of …

• Subject Code : HI6028
• University : Holmes Institute My Assignment Services is not sponsored or endorsed by this college or university.
• Subject Name: Taxation Law

Taxation Theory, Practice and Law - Case 1 Material Facts of The Case Mr. John has an approved license to operate a casino in Melbourne, The Casino East. He has received 10-year license and approval for Casino’s building for a period of 90 Years. He has paid $180 million for the approved casino’s license and $80 million as prepaid rent covering the first 10 years of casino’s rental as instructed by Government agency. He ha…

• Subject Code : HI6028
• University : Holmes Institute My Assignment Services is not sponsored or endorsed by this college or university.
• Subject Name: Taxation Law

Taxation Theory, Practice and Law Contents Part 1: Determination of Revenue Vs capital nature of prepaid rent Definition of prepaid expense provided by ATO.. Prepayment Rules. Taxation ruling IT 2317. Determination of question whether prepaid rent of casino is a capital expense or revenue expense. Part 2: Determination of deductibility of travel expenses incurred by Alex. Rules of ATO in relation to the deduction for trave…

• Subject Code : HI6028
• University : Holmes Institute My Assignment Services is not sponsored or endorsed by this college or university.
• Subject Name: Taxation Law

Taxation Theory, Practice and Law - Question 1 Brief facts- John an owner of a casino in Melbourne has been approved a ten-year licence by the Victorian government to run the casino. Along with that, he received permission for the building for ninety years. He was asked to pay $180 million to the government agency for the licence and $80 million as prepaid rent for the initial ten years of rental payments. He agreed for the remaining time l…

• Subject Code : HI6028
• University : Holmes Institute My Assignment Services is not sponsored or endorsed by this college or university.
• Subject Name: Taxation Law

Taxation Theory, Practice and Law Part 1 - Case of John for Rent Paid in Advance for Casino Facts of the case Approved license to John for casino in Melbourne. Received license for 10 years Got approval for Casino’s building for 90 Years Paid $180 million for the approved casino’s license Paid $80 million as prepaid rent for 10 years of beginning of casino Fixed $400,000 rental per year for rest of the lease peri…

• Subject Code : HI6028
• University : Holmes Institute My Assignment Services is not sponsored or endorsed by this college or university.
• Subject Name: Taxation Law

Taxation Theory, Practice and Law Table of Contents Introduction.. Question 1: Difference between revenue and capital expenditure. Identification of issue. Analysis of the law relevant to the issue. Application of the tax law.. Conclusion. Question 2: Travelling between two places of work. Identification of issue. Analysis of the relevant tax law.. Application of the relevant tax law.. Conclusion. Overall su…

• Subject Code : HI6028
• University : Holmes Institute My Assignment Services is not sponsored or endorsed by this college or university.
• Subject Name: Taxation Law

Table of Contents Introduction. Question 1. Question 2. Conclusion. References. Introduction to Taxation Theory, Practice and Law Taxation law within Australia predominantly comes under the purview of two major enactments, with one being the Income Tax Assessment Act 1936 (ITAA 36) and the other being Income Tax Assessment Act 1997 (ITAA 97). Subsequently, a number of Taxation Rulings, commonly referred to as TRs enforce…

• Subject Code : HI6028
• University : Holmes Institute My Assignment Services is not sponsored or endorsed by this college or university.
• Subject Name: Taxation Law

Table of Contents Week 7. Week 8. Week 9. References. Taxation Law - Week 7 a) Alex’s net capital gain or loss for the year ended 30th June 2019 Calculation of capital gain as per the Discount method Sale Proceeds   $ 14,00,000 Less: Cost Base     Value of land $ 1,10,000 &nb…

• Subject Code : HI6028
• University : Holmes Institute My Assignment Services is not sponsored or endorsed by this college or university.
• Subject Name: Taxation Law

Taxation Theory, Practice and Law - Solution Week 6 AS per ATO , ITAA1997, Divison 7 Fringe benefit is the compensation paid by the employer to employee against their performances and positions. Sometimes it is also paid by third party with an arrangement with thee employer. And separate taxable value is calculated for Fringe benefit for tax purpose. For Course fee of $12000 paid by Mason’s employer will be treated as Fringe benefi…

• Subject Code : HI6028
• University : Holmes Institute My Assignment Services is not sponsored or endorsed by this college or university.
• Subject Name: Taxation Theory, Practice & Law

Taxation Theory, Practice and Law - Solution Week 6 A Fringe Benefit is a form of pay for the performance of services. If the employee receives taxable fringe benefits from the employer then they should be included in the salary in the year in which benefit is received. In this question, Mason course fees was borne by his employer. Education benefit is allowable only up to $5250 per year. Here Mason has received benefit of $12000. Hence …

• Subject Code : HI6028
• University : Holmes Institute My Assignment Services is not sponsored or endorsed by this college or university.
• Subject Name: Taxation Law

Week 1 Different Functions of Taxation Taxes are described as contributions by donors to budget and extra-budget funds in set sums within a normal and specified time period. The tax purpose is an abstraction of its essence, the tax feature outlines its social goals of value-based allocation and income redistribution. Any step taken by the taxing machinery is an indication of the essence or group of such internal features, indices or econ…

• Subject Code : HI6028
• University : Holmes Institute My Assignment Services is not sponsored or endorsed by this college or university.
• Subject Name: Taxation Law and Practice

Case-1 John - Casino Case Information about the case Mr. John with an approved license to operate a casino in Melbourne by the name of “The Casino East”. He has received a 10-year license and approval for 90 years of casino building. He has paid $180 million for the approval of casino license and $80 million as prepaid rent covering the first 10 years of casino’s rental as instructed by Government agency. He also…

• Subject Code : HI6028
• University : Holmes Institute My Assignment Services is not sponsored or endorsed by this college or university.
• Subject Name: Taxation Law

Calculation of Taxation Law  Table of Contents Week 6 Week 7 Week 8 Week 9 Week 10 References Week 6 The provisions of the Income Tax Assessment Act related to Fringe Benefit Tax provide that any payment made by the employer towards expenses of the employee would be regarded as a fringe benefit irrespective of whether the amount is reimbursed to the employee or paid directly to any third party (ATO, n.d. a). Accor…