Benefits and fringe benefits tax liability

Reference no: EM133654979

Assume that you are a team of graduate tax accountants working for a registered tax firm. Your firm provides its clients with advice regarding tax issues, including applying the relevant cases and/or legislation in preparing tax returns. You must To do Statement of Advice (SoA) for your client(s).

Katy has requested that you prepare a statement of advice including:

i) Any necessary corrections to Amity's Income Tax Return that impacts taxable income, income tax liability or the franking account. Each correction should be supported by a brief explanation and correct referencing from legislation, along with any workings and calculations.

ii) Any necessary corrections to Amity's Fringe Benefits Tax Return that impacts the taxable value of benefits and fringe benefits tax liability. Each correction should be supported by a brief explanation and correct referencing from legislation, along with any workings and calculations.

iii) Any necessary corrections to Amity's Business Activity Statement that impacts GST on sales, GST on purchases and net GST payable. Each correction should be supported by a brief explanation and correct referencing from legislation, along with any workings and calculations.

Reference no: EM133654979

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