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Janey is an accountant who works at an accounting firm in Brisbane. She is a member of a professional association for which she pays an annual fee of $750, and she is undertaking professional accounting qualifications for which she pays fees of $ 1,500. She is also undertaking a postgraduate degree in multi-media studies at a university for which she pays a course fee of $2,300. She is undertaking this course as she hopes to eventually become a financial journalist as she has gained enough practical experience at her accounting firm. Janey's employer requires her to dress appropriately at work, and last year, she spent $900 on makeup and $2,500 on a designer work suit. Janey also has a one-day-per-week part-time job at a nightclub, which starts as soon as she finishes her accounting job on Friday nights. The nightclub is far away from the city, and she, therefore, drives her car. On all the other days of the week, Janey takes a train between home and work and spends $145 per week on tickets.
Required:
Advise Janey whether she is entitled to get deductions for any of the above expenses.
Determine taxable income before considering expense.
Prepare a tax research memo to the file that addresses the issues you feel are most relevant to Mimi's various issures.
Explain what is meant by income by ordinary concepts
Identify the tax issues that are raised and the relevant sections of the legislation. Identify any cases and other sources of law or information that apply.
Calculate Carolines taxable income
Show the tax issues that are raised and the relevant sections of the legislation.
Brief statement in your own words of the facts of the cases.
Prepare the C Regular Corporation Tax Return for the Lawson And Norman Enterprise
Advise the participants in the ‘barter' system of the income tax implications, if any, of participating in the system.
Discuss- A tax on cigarettes is a good way of raising tax revenue for the government
Prepare the required journal entry to record the tax expense
Calculate Barb's taxable income? What nonrefundable credit is Barb eligible for based on the information you have?
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