Posted: October 5th, 2022

LAWS20060 – Term 2, 2017

LAWS20060 – Term 2, 2017
Assessment 1 – Particular person Task
LAWS20060 – TERM 2, 2017
ASSESSMENT 1 – INDIVIDUAL ASSIGNMENT
Marks: 40% of the general Assessment for the course
Submission: On-line by way of Moodle
Format: One file in .doc or .docx(MSWord) format.
Submissions in every other file format (e.g. .zip) will likely be handled as a non-submission.
Phrase restrict:1200-1500 phrases
Due date prolonged:Week eight Wednesday (06-Sep-2017) 11:45 PM AEST
Return to college students:Week 11 Friday (29-Sep-2017)
Extensions coverage:The college coverage on extensions of time will likely be strictly enforced. Extensions will solely be thought-about if made by way of the web system and primarily based on medical or compassionate grounds. Any extension software must be made earlier than the due date for submission. Medical circumstances must be supported by a medical certificates, and, since college students are anticipated to begin the project early, short-term or last-minute circumstances are often not grounds for an extension. Professionals are anticipated to handle their time to satisfy their obligations, so work or private commitments are inadequate grounds for an extension.
Plagiarism:The college’s plagiarism coverage may even be strictly enforced. If plagiarism is discovered, a minimal penalty is prone to be zero marks for the Assessment. It might be worse.
QUESTION 1: 20 marks, 20% of the topic
Advise yourclient on how the next gadgets will likely be handled for tax functions underneath Australian tax regulation:
i. Webjet frequent flyer factors obtained by a enterprise analyst employed by a big enterprise consultancy agency in relation to work associated journey paid for by the agency
ii. quantities obtained by a crane rent firm from its clients for a broken crane
iii. a free abroad vacation obtained by a nightclub supervisor from an alcohol provider
iv. the return to its members of extra funds raised by a canoe membership for the acquisition of extra canoes
v. a cost made by a tv station to anAustralian footballer for being named the most effective and fairest within the AFL
vi. Bills referring to a constructing qualification for a constructing apprentice
vii. Bills referring to a brief course in artwork administration within the hope of turning into an artwork director
viii. Bills referring to work make-up and work attire
ix. Bills referring to journey between house and workplace
x. Bills referring to journey between one employer and one other employer
QUESTION 2: 20 marks, 20% of the topic
Manpreetis a world pupil learning an accounting diploma at CQU, Sydney. She commenced her research in time period 1, 2016. Within the 2016/2017 monetary 12 months she labored half time as an workplace Helpant at an Accountant’s workplace to realize work expertise in her chosen profession and made $45,000 from that job. Manpreet additionally obtained $20,000 from her mother and father to help her along with her residing bills, and a $10,000 distribution from a belief account arrange in India by her grandmother of which she paid $1,000 in overseas tax. She spent $18,500 on her research, $2,000 on a pc and printer for academic functions, and $500 on a brand new cell which was required for work functions.
Calculate Manpreet’s web tax payable for the 2016/2017 monetary 12 months, making reference to the taxation formulation, the explanations for together with or excluding particular gadgets, your calculations, and the relevant tax regulation (sections of laws and/or case regulation).
Kindly examine the file have uploaded. Am an Austrlian pupil so australian regulation and reference must be factored in…I additionally want an A. Let me know should you can ship asap…12 hours max
Assessment standards
Analysis Standards
These standards are a common information as to the usual anticipated on the numerous ranges. Traits indicative of the respective ranges of feat within the project are as follows. It isn’t essentially the case that every one these standards will likely be met at a selected customary as there could also be a superior efficiency on one of many standards and never so passable efficiency on one other.
Excessive distinction customary
• The reply could be very nicely written and clearly expressed
• There’s a demonstrated appreciation and understanding of the problems concerned
• The reply is nicely structured and logically organised
• Demonstrated mastery of referencing system
• There’s proof of a complete Assessment of the problems
• Conclusions are backed by well-reasoned arguments demonstrating an in depth perception and Assessment of points
• Complete protection of all related points
• References are made to the appropriated laws for explicit points
• Statutory provisions are analysed and interpreted appropriately
• The laws is utilized to the actual reality state of affairs in a reliable method
• Consideration is given to the operation of the frequent regulation
• There could also be consideration of points not raised within the tutorials and reply guides
Distinction customary
• The reply is nicely written and expressed
• The reply is structured and logical
• The problems have been fairly nicely recognized and appreciated
• There’s appropriate use of referencing
• Points have been analysed
• Reference is made to all applicable laws, though the Assessment and interpretation is just not as detailed and reasoned as for the excessive distinction customary
• The impact of the frequent regulation is taken into account
• There’s a complete protection of the problems
• Occasional errors of regulation and authorized reasoning should be current
Credit score customary
• The reply is mostly nicely written and expressed
• The reply is structured and sequential
• Referencing is passable
• Points are recognized and addressed
• There was an try and analyse a number of the points
• The protection of points in all fairness complete typically with remedy and Assessment of explicit factors
• Errors of regulation and incorrect reasoning could generally be current
• Statutory interpretation could require enchancment
• Depth of remedy is commonly missing in a number of the points
• Cross customary
• The reply is ready to be adopted and understood
• The reply might maybe be higher organised and structured
• The referencing might have enchancment
• Points could must be recognized and addressed in additional depth
• Assessment when current could also be incorrect
• Some familiarity with the laws and its software is demonstrated
• Generally the conclusions reached are easy
• There could also be a number of errors of regulation
• There could also be portions of fabric of marginal relevance included within the reply
Fail customary
• The reply could also be considerably wanting the required size
• The written expression is poor and obscure
• The reply is poorly organised
• There was a failure to determine and tackle the problems within the Question Assignment
• Referencing is mostly insufficient
• There’s a lack of familiarity with the laws and its applicable software
• The reasoning and software demonstrated is poor
• Steadily there may be a lot irrelevant materials

Question Assignment 1-Recommendation to Webjet frequent flyer
It could be of nice essence for the Webjet frequent flyer to totally perceive that in accordance to FBTAA (Fringe Advantages Tax Assessment Act) 1986, the advantages which are obtained by workers due to participating inside a frequent flyer program don’t principally represent fringe advantages. As well as, the advantages that a taxpayer receives, whether or not an worker or in any other case, due to participating inside a frequent flyer program could also be thought-about to represent assessable revenue inside that taxpayer’s palms in respect to ITAA (Earnings Tax Assessment Act) 1936. Apart from, the advantages that the staff obtain could represent assessable revenue in respect to ITAA paragraph 26(e) .
For functions of creating assessable revenue, the advantages that a taxpayer receives which have a financial worth, in addition to the non-cash enterprise advantages which are coated underneath ITAA, Part 21A, must be worth inside a good market worth as on the time throughout which the profit is derive. Inside majority of the instances, the ATO (Australian Taxation Workplace) considers because the honest market worth to be the bottom money value, which the taxpayer would sometimes have paid for the acquisition of such a profit from an arm’s size provider. Both within the case whereby each employer-paid, in addition to, personal transactions have led to the worker’s entitlement to the profit, the profit worth must be apportioned. As an example, inside a frequent flyer program, the profit worth must be decreased by an apportionment on the idea of the factors the taxpayer paid because of personal transactions divided the variety of factors wanted to acquire the profit.
Question Assignment 2 -Recommendation to crane rent firm
Compensation obtained for lack of an asset principally takes the receipt kind in respect to the loss or destruction of the asset. Such asset disposal ends in a CGT (Capital Features Tax) occasion going down in respect to that asset, whereby the compensation receipt is included throughout the consideration for such occasion. When establishing the taxable loss or fain realized, the common CGT guidelines apply. This contains the 50% low cost in instances whereby the asset had been possessed for greater than a 12 months, in addition to, the CGT concessions for small enterprise, the place relevant.
In instances whereby the asset has been broken completely, corresponding to throughout the case underneath evaluate, the obtained compensation cost reduces the asset’s value base. Compensation of this nature is handled because the recoupment of the prices which are incurred in changing the asset and are usually not included throughout the asset’s value base in respect to paragraph 110-45(three).
Question Assignment three -Recommendation to the nightclub supervisor
Within the occasion one is shifting abroad , for research, work or vacation, it’s extremely probably that for revenue tax functions, one will likely be thought-about as an Australian non-resident in the midst of his or her abroad keep. Due to this fact, it’s important to understand the way through which one’s residency standing is ready to be decided, in addition to, the non-residency tax implications. For the Australians travelling overseas, the IT 2650 (ATO Taxation ruling) stipulates the assorted components that must be put into consideration, which embrace: meant size of keep overseas; the continuity of presence throughout the overseas nation; the intention of both returning to Australia or travelling to a different nation amongst others. Nonetheless, a person who leaves the nation, with the plan of jetting again in no more than two years, corresponding to on this supervisor’s instances, is generally handled as an Australian resident for tax functions.
Question Assignment Four- Recommendation to canoe membership
Some NFP (Not-For-Revenue) golf equipment, societies, in addition to, associations are handled as taxable organizations and therefore are usually not exempted from revenue tax. Examples of such NFPs are corresponding to social golf equipment, skilled associations, political events and plenty of others. If a NFP group falls underneath the taxable class, it might be compelled to file tax returns along with paying revenue tax. Within the case underneath evaluate, the canoe membership might be thought-about to be a social membership therefore it may be handled as a taxable NFP. Nonetheless, within the occasion its taxable revenue occurs to be no more that $416 per 12 months, it is not going to must file a tax return within the occasion an Australian resident (until in any other case requested to take action) .
The others NFPs that fall underneath the taxable class and have an revenue of greater than $416 each year, are anticipated to file their returns. Nonetheless, within the case of the ‘canoe membership’ the refunds made to the members is not going to be taxable and won’t be a part of membership’s yearly taxable revenue. All of the aforementioned conclusions is not going to stay the identical within the occasion it seems that the canoe membership is a NFP that’s exempted from tax.
Question Assignment 5
The cost obtained by the Australian footballer for turning out as the most effective, in addition to, the fairest throughout the AFL will likely be thought-about as a part of the participant’s assessable revenue. Mainly, assessable revenue for gamers embrace all of the revenue earned in salaries and wages, rental from property, endorsements in items or money, all competitors winnings, capital positive factors upon sale of belongings, pursuits accrued on financial savings and plenty of different sources. Sometimes, the taxable revenue is obtained by deducting the allowable expenditure from the assessable revenue. Upon establishing the taxable revenue, the respective tax scales are utilized for the needs of figuring out the affected participant’s tax legal responsibility. In some instances, the tax legal responsibility could also be adjusted for the needs of together with any rebate which may be due .
An revenue rebate of as little as $445 is relevant within the instances whereby the taxable revenue is just not greater than $35,000. An additional 1.5% is added because the Medicare Levy. Within the occasion the revenue is lower than $20.452, no levy is payable. Within the occasion the revenue is greater than $80,000, and the participant has no personal cowl, a 1% Medicare levy surcharge is utilized. In case the taxable revenue is greater than $130,000, the surcharge shoots to 1.5%.
Question Assignment VI
The bills associated to a constructing qualification which are incurred by the constructing apprentice might be thought-about to fall underneath the work-related self-education bills. One claims such bills within the occasion they occur to have a concrete connection to the current work actions. Self-education can contain attending a proper course or perhaps a seminar. For the course to be thought-about as adequately related to the current work actions, it ought to keep or make higher the assorted abilities one wants throughout the current employment and contribute to a rise in revenue from the current employment. It’s outright that the case of the apprentice fulfils al the aforementioned components.
Nonetheless, upon fulfilling the aforementioned circumstances, the apprentice ought to perceive that typically one can declare study-related gadgets of the likes after all charges, pupil union charges, textbooks, pupil union charges, amongst others. It’s of nice essence to maintain information of the mentioned self-education bills. The aforementioned information might be written proof or receipts of 1’s bills, inclusive of receipts for the depreciating belongings that one has bought corresponding to laptops. One may also preserve dairy entries for the bills embrace on phone, web entry, gear for the self-education functions over a one month interval
Question Assignment VII
Placing into consideration that the shopper is to incur bills whereas taking a brief course that will end result to development in his or her profession, it will also be thought-about to fall underneath the work-related self-education bills. In that regard, One can declare such bills as they occur to have a concrete connection to the current work actions. Self-education can contain attending a proper course or perhaps a seminar. For such a course might be thought-about as adequately related to the current work actions, as it is going to undoubtedly make higher the assorted abilities one wants throughout the current employment and contribute to a rise in revenue from the current employment. It’s outright that the case of underneath evaluate fulfils al the aforementioned components .
Nonetheless, upon fulfilling the aforementioned circumstances, the artwork administration worker ought to perceive that typically one can declare study-related gadgets of the likes after all charges, pupil union charges, textbooks, pupil union charges, amongst others. It’s of nice essence to maintain information of the mentioned self-education bills. The aforementioned information might be written proof or receipts of 1’s bills, inclusive of receipts for the depreciating belongings that one has bought corresponding to laptops. One may also preserve dairy entries for the bills together with of bills on phone, web entry, gear for the self-education functions over a one month interval for functions of creating use of the dairy because the written proof.
Question Assignment VIII
One can launch a deduction declare for prices incurred within the buy and even cleansing of occupation-specific clothes, distinctive, distinctive uniforms, in addition to, protecting clothes. To make the deduction, could have to provide written proof, which signifies that the acquisition was made, in addition to, written proof of the cleansing prices. Within the occasion as soon as obtained an allowance from the employer for uniforms and even dry-cleaning, one ought to make sure that the allowance quantity is proven throughout the tax returns.
One can declare for uniform or work attire, inclusive of or work make-up whether or not they’re obligatory or just non-compulsory, that are distinctive , in addition to, distinctive to the group. Clothes is taken into account as distinctive within the occasion is just not solely designed but additionally made merely for the employer. Clothes is distinctive within the occasion it has a everlasting emblem of the employers, and such clothes can’t be obtainable inside most people. In that perceptive, one is just not anticipated to assert the fee incurred within the buy or laundry of a plain uniform.
Question Assignment IX
Regarding bills associated to journey from house to workplace and vice versa, they’re normally thought-about as personal journey. Nonetheless, one can declare deductions inside sure circumstances, along with some journey from one office to a different. Within the occasion one travels each privately and partly for work, a declare can solely be launched for the prices incurred whereas finishing up the employment duties.
Claims are allowed within the case whereby one incurs const whereas travelling straight between two distinct work stations, as an illustration, within the case whereby one has a second job. Claims are additionally permitted for travelling from the workstation to a different office, as an illustration, the premises of a shopper, whereas nonetheless on responsibility or within the occasion one travels from house to a different work station fore work functions, and afterwards to 1’s regular office or house straight. Nonetheless, the simply talked about situation is just not relevant in instances whereby the choice office has turned out to be a daily office.
One can also be entitled to a declare within the occasion she or he has to hold heavy instruments and even gear and the employer requires for use within the work and so they couldn’t be left with the office, as an illustration, whereas finishing up job duties that require the usage of an extension ladder. be Both manner, one can not declare for compensation for travelling in his or her automobile between the office and residential because of the truth that one does work-related duties, as an illustration selecting up mail on the best way to house or work .
Question Assignment X
As earlier talked about, there are the desired situations whereby one can declare journey prices in respect to the ATO. Claims are allowed within the case whereby one incurs const whereas travelling straight between two distinct work stations, as an illustration, within the case whereby one has a second job. Claims are additionally permitted for travelling from the workstation to a different office, as an illustration, the premises of a shopper, whereas nonetheless on responsibility or within the occasion one travels from house to a different work station fore work functions, and afterwards to 1’s regular office or house straight. Nonetheless, the simply talked about situation is just not relevant in instances whereby the choice office has turned out to be a daily office. In that regard, it’s outright that one can not declare the prices incurred in travelling from one employer to the opposite.
QUESTION 2
In Australia, the revenue tax charges principally rely on the 12 months that the revenue was earned, in addition to, the residency standing of the earner. Placing into consideration that Manpreet’s is a world pupil who has come to CQU, Sydney for research, she’s going to really be handled as a non-resident for taxation functions. The non-residents are often taxed extra as in comparison with the residents and are usually not eligible for a tax-free threshold. Nonetheless, the half 12 months residents are in some instances eligible for what’s phrases because the part-year tax-free threshold . Within the occasion one is a overseas resident who works inside Australia, one has to declare on his or her tax return all revenue earned inside Australia, inclusive of rental revenue, employment revenue, capital positive factors on the acquired Australian belongings, in addition to, Australian pensions along with annuities, anticipate within the instances whereby exemption is accessible in accordance to the Australian tax regulation.
As well as, non-residents are usually not required to pay for the Medicare levy as they don’t seem to be occasion entitled to the Medicare well being advantages. Apart from, they don’t seem to be anticipated to declare the Australian-sourced dividends, pursuits or royalties which are derived whereas one is a overseas resident, so long as the Australian monetary establishment which pays the non resident has already withheld tax .
In respect to the aforementioned information, within the Manpreet’s case, the one taxable revenue is the $45,000 earned whereas working as an workplace Helpant. The opposite sources of revenue such because the $20,00 ship by her mother and father, the $10,000 from an Indian belief account are usually not topic to tax as they weren’t earned throughout the Australian borders.
The tax charges for non-residents within the 206-17 monetary 12 months had been as tabulated under
Taxable Earnings Tax on this revenue
Zero – $87,000 32.5c for every $1
$87,001 – $180,000 $28,275 plus 37c for every $1 over $87,000
$180,001 and over $62,685 plus 45c for every $1 over $180,000

Placing into consideration that Manpreet’s taxable revenue is $45,000, it falls underneath the class of Zero-$87,00 which is taxed on the fee of 32.5c for each $1. Due to this fact, the overall rax that she’s going to required to pay will likely be
$1= 32.5c
$45,000 = ?
(45,000*32.5) /100= $14625
Due to this fact, primarily based on the calculations featured above, Manpreet must pay a tax of round $14625.

References
Beloff, Michael, Tim Kerr, Marie Demetriou, and Rupert Beloff. Sports activities regulation. Bloomsbury Publishing, 2012.
Braithwaite, Valerie, and Monika Reinhart. “The Taxpayers’ Constitution: Does the Australian Tax Workplace comply and who advantages?.” (2000).
Krever, Richard. “Taming complexity in Australian revenue tax.” (2003).
Pinto, D. (2011). Taxation of monetary transactions. In Australian Taxation Regulation (pp. 1239-1326). CCH Australia Restricted.
Tran-Nam, Binh, and Chris Evans. “Tax coverage simplification: An analysis of the proposal for the standard deduction for work associated bills.” (2012).

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