12 Pages 3096 Words LAWS19033 Business Law


Part A 10 signs
(each vacillate is value 1 sign)
You enjoy upright afloat a new job as a furrow accountant. Your managing associate has to do a media conference and he asks you to arrange responses to some vacillates that conquer be asked. He has consecrated you a inventory of vacillates that he has to address in his conference and he wants you to arrange him after a while incomprehensive responses to these vacillates and arrange references so that he can restrain the response if required.
1. Who is the Inspector-General of Taxation?
2. What synod governs the powers of the Inspector-General of Taxation?
3. What question does Taxation Ruling TR 2016/3 argue?
4. Which Division of the Proceeds Tax Assessment Act 1936 contains the definitions cognate to the Act?
5. Which Division of the Proceeds Tax Assessment Act 1997 arguees the removeibility of gifts?
6. Which individuality of the Proceeds Tax Assessment Act 1997 allows a taxpayer to remove a forfeiture caused through stealing by an employee?
7. Is a removeion lawful for conjunction of an fellowship? If so, are there any limits to such a removeion?
8. How are restitution amounts for forfeiture of trading hoard treated?
9. What is the useful tax trounce for a taxpayer who has $30,000 taxable receiptss in 2016/17?
10. For tax purposes, what is weighed to be the ‘proceeds year’ for most taxpayers?
Part B
CASE STUDY:
In 2016, Julia Jenkins, a inhabitant of England, arrives in Australia for a long-awaited idleness. She arrives on 1 September 2016 and departs on 30 October 2016. During this date Julia travels indiscriminately throughout Australia, as she wishes to see as divers contrariant elements of the state as she can. She so works for one week of her alight bevy consequence in Bowen, for which she earns $1,000. Upon come-back to England, Julia misses the sunny sky in Australia and determines to come-back there on a beaming premise. She gives up her job, sells her lineage residence, settles her affairs and moves to Australia beamingly on the 7 January 2017.
Julia has approached you for making-ready of her 2016/2017 tax come-back, and enjoyment of her tax burden. Julia has been meticulous in guardianship chronicles, and arranges you after a while the subjoined notification. It should be distinguished that the notification arranged represents her construction of what may be bearing for receiptss tax purposes, and you conquer want to create your own judgement on multiform matters inveterate on your apprehension of Australian receiptss tax law. If any vacillate arises on a detail purpose, or advance notification would normally be required, you may feign such advance details as are compulsory to accomplished the come-back.
All such assumptions, and the premise of any decisions you frame in multiform matters, must be made open by unmeasured argueion where misappropriate.
While the ordinance is easily weighation inveterate, there are some matters which you conquer want to weigh and determine upon antecedently you can receipts after a while the weighations. You should embody your argueion of these matters, and any disposal you stretch, as distribute of your ordinance.

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