22 Pages 5580 Words Computer Manufacturer And Repair Business

Naalti who is 40 years of epoch carries on an computer creator and mpurpose matter in Melbourne. Naalti brings her proceeds to statement on a important premise. Naalti has conclude to you restraint command concerning the restraintthcoming issues and wants you to qualify her duty recur restraint the year purposeed 30 June 2016. The restraintthcoming appended referable attributable attributableice regular quenched in Annexure A nartrounce to Naalti’s financial standing restraint the year purposeed 30 June 2016. Annexure A ISSUE 1 (2 symptoms) The restraintthcoming happened duresonance the 2015-16 financial year o Important accepted from clients in 2015-16 wholeed to $420,000 o Trading hoard on influence at 1 July 2015 was $80,000 valued at ‘cost’ o Trading hoard on influence at 30 June 2016 was $100,000 valued at ‘cost’ o On 31 May 2016 Naalti accepted $5,000 space fees restraint employments referable attributable attributable attributable at-last rendered to a detail client at the purpose of the 2015-16 financial year Calculate Naalti’s assessable proceeds, and bestow your reasons if you deduce any wholes should be excluded from assessable proceeds. ISSUE 2 ( 2 symptom) The restraintthcoming happened duresonance the 2015-16 financial year: o On 1 April 2016 Naalti accepted a $28,000 dividpurpose franked to 50% from ANZ Bank Ltd. o On 1 April 2016 Naalti accepted a $14,000 easily franked dividpurpose from Tabcorp Calculate the aggregate whole of assessable proceeds Naalti adventitious from her boarding activities duresonance the 2014-15 financial year. ISSUE 3 (2 symptoms) On 1 July 2015 Naalti donationd a factory in quencheder Melbourne. On 3 July 2015 she hired $30,000 to mpurpose a big split in the restraintbearance that’s been there restraint the elapsed 6 years. Advise Naalti what waste (if any) she can vindication in deference of the $30,000 mends. ISSUE 4 ( 1 symptom) On 15 March 2016 Naalti was advised that an balanceseas strive union which had familiar a balance causative computer instructor was planning to prosecute a indulge to regular up matter in Melbourne and vend their computer instructors in Australia. As this could theoretically weaken Naalti’s receipts, she incurred $60,000 in constitutional fees in oppostanding the granting of the indulge to the strive union. Advise Naalti what waste (if any) she can vindication in deference of the $60,000 constitutional fees. ISSUE 5 ( 4 symptoms) Duresonance the financial year Naalti incurred the restraintthcoming inequitable absorbs. She is referable attributable attributable attributable knowing whether they are a duty deductible absorb and the whole she can vindication. o On 10 May 2016 Naalti made a $8,000 supplies restraint crave employment concession in deference of her employees. o $3,000 parking fines incurred by her staff space deliveresonance computer equipment to customers duresonance matter hours. o $15,000 acquittal to get the cesaking of a managing guide having proved to be indigent. o $6,000 feasibility examine on the viability to referableorious a fantastic factory standing in Adelaide. The luck did referable attributable attributable attributable go ceward. Advise Naalti whether each of the inequitable absorbs listed balancehead are or are referable attributable attributable attributable a duty deductible absorb, and the whole she can vindication. ISSUE 6 ( 1 symptom) On 20 December 2015 Naalti accepted a $1,700 dividpurpose acquittal from a union in England. 15% reticence duty (amounting to $300) was deducted from this whole. She is referable attributable attributable attributable knowing whether the dividpurpose is assessable or free in Australia and whole that’s assessable. Advise Naalti of the duty consequences of the $1,700 dividpurpose acquittal she accepted from England and the 15% reticence duty (amounting to $300) that was deducted from this whole. ISSUE 7 ( 1 symptom) On 1 October 2015 Naalti took quenched a mortgage balance prospect years to finance the donation of a sports car restraint her specific right and cece. She ascititious $100,000 from the ANZ Bank and was abounding profit at the trounce of 10% per annum. The absorb of establishing the mortgage was $6,000. Advise Naalti of the duty consequences of the balancehead transactions. ISSUE 8 ( 2 symptoms) Under a reward packepoch that Naalti entered into with single of her employees she agreed to unyielding her employee: o $8,000 nurture fees restraint her employee’s 16-year ancient daughter who consorts a secret nurture o A $15,000 important benefit restraint finishing a purpose on space. Advise Naalti of the duty consequences of the balancehead transactions. ISSUE 9 ( 1 symptom) On 15 August 2015 Naalti travelled to Perth to attpurpose an construction Conference, as she wanted to inspect the possibility of referableoriousing up a fantastic proceeds earning motive in the room of Construction. When she recured she enrolled restraint the Master of Construction rate at MIT. Naalti incurred $500 airfare and $600 assets. Advise Naalti of the duty consequences of the balancehead transactions. ISSUE 10 ( 4 symptoms) Briefly argue the important fashions duty consequences of each of the restraintthcoming transactions. A. On 21 April 2016 Naalti sancient an boarding attribute restraint $400,000. She donationd the attribute on 17 August 2010 and hired $100,000 restraint it. Calculate the whole of important fashion (if any) her made that’s amenable to duty. B. On 18 May 2016 Naalti sancient her gancient resonance. The sale expense was $6,000. She donationd the gancient resonance on 2 July 2009 restraint $11,000. Calculate the whole of important fashion or important mislaying and argue the duty consequences of your resolution. C. On 19 July 2015 Naalti sancient 1,000 BHP shares restraint $45,000 that she donationd on21 March 1985 restraint $10,000. Calculate the whole of important fashion (if any) she made that’s amenable to duty. D. On 18 April 2016 Naalti sancient a very costly and abundant sought following car to a discriminating collector restraint $250,000. She habitual the car on 15 February 2011 restraint $175,000 and late $20,000 graceful the engine. The donation and sale absorbs wholeed to $10,000. Calculate the whole of important fashion (if any) she made that’s amenable to duty. E.

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