Posted: March 2nd, 2022

HI6028
TAXATION THEORY, PRACTICE AND LAW
FINAL ASSESSMENT
TRIMESTER three, 2021
Assessment Weight: 50 complete marks
Directions:
• All questions have to be answered by utilizing the reply bins offered on this paper.
• Accomplished solutions have to be submitted to Blackboard by the revealed due date and time.
Please make sure you comply with the submission directions on the finish of this paper.
Goal:
This Assessment consists of six (6) questions and is designed to evaluate your stage of data of the important thing subjects coated on this unit.

Question Assignment 1 (11 marks)
Jack is an accountant for a global accountancy agency primarily based in Fiji. He has investments in Fiji comprising of his own residence, a rental property, shares in native corporations and money deposits in excessive interest-bearing financial institution accounts. On 1 February 2020, Jack was transferred to the agency’s Brisbane workplace on a short lived three-month secondment. The aim of the secondment was to ascertain networks with current Australian purchasers which have indicated the opportunity of investing in Fiji. Through the secondment interval, Jack remained an worker of the Fiji workplace, and his wage was paid into his Fiji checking account. Whereas Peter’s intention was to return to Fiji on the conclusion of his secondment, he sought and was efficiently provided a everlasting place in Brisbane. In early June 2020, he turned an worker of the Brisbane workplace. His relocation concerned buying an condo within the Brisbane suburb of Ascot, renting out his own residence in Fiji and transferring a sum of money to a excessive interest-bearing checking account in an Australian financial institution. Focus on residency and supply points. (Most 500 phrases)
ANSWER: ** Reply field will enlarge as you sort
Question Assignment 2 (7 marks)
Sam is an worker at a big land growth firm. He has negotiated automobile advantages together with his employer. Sam was supplied with the automobile for the interval 1 April 2020 to 31 March 2021. The leased automobile worth was $22,000 on 1 April 2020, and the automobile had solely been leased for a yr at the moment. Sam is required to pay for any petrol and different upkeep prices, which he has decided to be $1,300 for the interval 1 April 2020 to 31 March 2021.
Advise Sam’s employer as to the FBT penalties (utilizing statutory components technique) arising out of the usage of the automobile. It’s possible you’ll assume that any advantages are Kind 1 fringe advantages. (Most 300 phrases)
Taxation Concept, Apply, and Regulation (HI6028) FINAL ASSESSMENT TRIMESTER three, TRIMESTER three, 2021
Assessment Weight: a complete of 50 factors.
Directions: • All questions have to be answered utilizing the reply bins offered on this paper. • Don’t use every other technique of answering questions.
• Accomplished solutions have to be submitted to Blackboard by the deadline and time specified on the course schedule.
Please be certain that you adhere to the submission tips offered on the finish of this paper.
Object: The aim of this Assessment is to find out your stage of data of the important thing subjects coated on this unit. There are six (6) questions in complete, and every Question Assignment is price one level.

Question Assignment No. 1: (11 marks)
Affiliation: Jack works as an accountant for a global accountancy agency with its headquarters in Fiji. Amongst his monetary holdings in Fiji are his personal residence, a rental property, inventory in native firms, and money deposits in excessive interest-bearing financial institution accounts. As of the primary day of February 2020, Jack was assigned to the agency’s Brisbane workplace for a three-month non permanent secondment task.
ANSWER:
Question Assignment three (11 marks)
Divanee is a Neurosurgeon on the native hospital. Nevertheless, the lengthy hours have been very draining, and she or he has determined to take a go away of absence from the hospital and pursue her curiosity in mixing espresso beans to search out the proper style. She has incurred the next bills:
a) Cost of $5,000 to the Australian Society of Neurosurgeons (Divanee has determined to keep up her membership throughout her go away of absence in case she decides to return to work as a surgeon);
b) Donation of $500 to Medecins Sans Frontières (a registered Deductible Present Recipient);
c) Donation of $1,000 to her native neighbourhood neighborhood home (a registered Deductible Present Recipient). All donors are permitted to guide the operate room in the home totally free as much as three instances per yr. The traditional reserving payment could be $250;
d) She paid $500 for Newspapers which coated some health-related info; and
e) Journey value $2,500 to attend a world convention in London.
Advise Divanee as to her earnings tax penalties arising out of the above info. (Most 400 phrases)
Taxation Concept, Apply, and Regulation (HI6028) FINAL ASSESSMENT TRIMESTER three, TRIMESTER three, 2021
Assessment Weight: a complete of 50 factors.
Directions: • All questions have to be answered utilizing the reply bins offered on this paper. • Don’t use every other technique of answering questions.
• Accomplished solutions have to be submitted to Blackboard by the deadline and time specified on the course schedule.
Please be certain that you adhere to the submission tips offered on the finish of this paper.
Object: The aim of this Assessment is to find out your stage of data of the important thing subjects coated on this unit. There are six (6) questions in complete, and every Question Assignment is price one level.

Question Assignment No. 1: (11 marks)
Affiliation: Jack works as an accountant for a global accountancy agency with its headquarters in Fiji. Amongst his monetary holdings in Fiji are his personal residence, a rental property, inventory in native firms, and money deposits in excessive interest-bearing financial institution accounts. As of the primary day of February 2020, Jack was assigned to the agency’s Brisbane workplace for a three-month non permanent secondment task.
ANSWER:
Question Assignment four (7 marks)
During the last 6 months, Rohan acquired the next property:
– an engagement ring which value $5,000
– a ceramic vintage vase (for $three,000),
– a portray (for $eight,500),
– a Tv (for $15,000),
– Australia Financial institution’s shares (for $5,000).
Final week he bought these property as follows:
– an engagement ring which value $6,000
– a ceramic vintage vase (for $1,000),
– a portray (for $2,500),
– a Tv (for $11,000) and
– Australia Financial institution’s shares (for $25,000)
Calculate his internet capital acquire or internet capital loss for the yr. (Most 300 phrases)
ANSWER:
Question Assignment 5 (7 marks)
What’s a base fee entity? And what charges of tax are payable by these entities? (Most – 200 phrases)
ANSWER:
Question Assignment 6 (7 marks)
In what circumstances can a taxpayer problem an Assessment outdoors the atypical enchantment course of. Focus on primarily based on statutory and customary legislation. (Most 200 phrases)
ANSWER:
END OF FINAL ASSESSMENT
Submission directions:
• Save submission along with your STUDENT ID NUMBER and UNIT CODE e.g. EMV54321 HI6028
• Submission have to be in MICROSOFT WORD FORMAT ONLY
• Add your submission to the suitable hyperlink on Blackboard
• Just one submission is accepted. Please guarantee your submission is the right doc as particular consideration is just not given should you make a mistake.
• All submissions are robotically handed by way of SafeAssign to evaluate tutorial integrity.

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Tags: 2803NRS, ACC 502 GCU, ACCCN, ACCT 553 DeVry, ACCT20071