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This assignment is worth 30% of the overall assessment marks available for this subject. This is an Individual assignment. The written report must be a typed self-contained report and professionally presented. Word count 1,500 plus or minus 10% words (excluding Executive Summary and Reference List) Each question is worth 15 marks each ( a total of 30) The marking allocation is as per the attached rubric. Students are required to include a bibliography of reference materials. Reference materials must be more than the lecture notes and prescribed textbook. Students are required to follow the Melbourne Polytechnic guidelines on referencing material. Students are also required to sign and hand in a declaration that the work is their own and that they have not collaborated with another student in answering the question.
Marking scheme - Ideas & arguments are effectively structured. Thoughtful progression of ideas and details. Excellent transitions between paragraphs. Major arguments are effectively woven throughout every body paragraph, with ideas always related back to main arguments. Excellent consideration and through discussion of all relevant case law. Excellent consideration and through discussion of all relevant legislation. Conclusions flow very well from arguments presented in relation to the case facts. Proposed advice to client is likely to be correct. Meets all editing, spacing, fonts, and other editing requirements.
Determine taxable income before considering expense.
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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.
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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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