Law and Applicatio The n: The discussion is second a clear and element comprehensi of the ve analysis asset’s of the cost. relevant legal principles regarding the element of the cost of the CNC machine and their application to the facts to support logical arguments about how the issue/s will be resolved. Concludin The g discussion discussio regarding ns the exact regarding start time of the exact holding the start time CNC of holding machine, the CNC and the total machine, cost of the and the machine are total cost very well of the supported by machine. arguments in this section and clearly explains how those arguments address

Law and All relevant All or most Most of the Applicatio legal of the relevant n: The principles relevant legal first regarding legal principles element the element principles regarding of the of the cost of regarding the first cost of the CNC the element element of the CNC machine are of the cost the cost of machine. clearly of the CNC the CNC explained machine machine and their are are correct explained explained source of and their and their authority is correct correct given. source of source of

For Question 2, students need to answer the following parts correctly Identify Majority of and The area of Very good relevant discuss law and the identificatio issues the legal n and regarding problem. problem/s discussion the regarding regarding element of the CNC the the cost of machine that elements of the CNC needs to be the cost of machine addressed the CNC identified are identified machine. and and discussed. completely described.

The The Very good capital discussion is discussion gain in a clear and and relation to comprehensi analysis of the sale ve analysis the relevant of the of the CGT legal business. relevant principles in CGT legal relation to principles in the sale of relation to the the sale of business the business and their is given. application to the facts to support logical arguments given. The All relevant All or most capital CGT legal of the gain in principles in relevant relation to relation to CGT legal selling selling the principles in the furniture are relation to furniture. clearly selling the explained furniture are and their explained correct and their source of correct authority is source of given. authority is given.

Excellent Very Good For Question 1, students need to answer the following elements correctly The Student Very good capital knows how identificatio gain in to use the n of the relation to ITAA 1997, CGT the family know how to consequenc home. apply the law es of the in a real family home scenario and and understand discussion the different of the CGT issues. consequenc es in relation to the family home. Capital All relevant All or most gain or CGT legal of the loss made principles in relevant from the relation to CGT legal car. the gain or principles in loss made relation to from the car the gain or are clearly loss made explained from the car and their are correct explained source of and their authority is correct given. source of

problem. Source legal principles from cases and legislation. Law and Application: Concluding discussions regarding the exact start time of holding the CNC machine for depreciation purposes, and the total cost of the machine. Set out the legal principles that will be used to address the problem. Source legal principles from cases and legislation. 2 Marks Conclusion: Stand back and play ‘the judge.’ Choose the argument and conclusions you think is the strongest and articulate what you believe to be the appropriate answer. 1 Mark Question 2 Weight 10 MARKS TOTLA WEIGHT: 20 MARKS

Question 1 Weight 10 MARKS Issue: Identify and discuss the problem. 1 Mark Law and Application: Discussion of the first element of the cost of the CNC machine. Set out the legal principles that will be used to address the problem. Source legal principles from cases and legislation. 3 Marks Law and Application: Discussion of the second element of the asset’s cost, i.e. the start time for calculating the decline in the value of the CNC machine. Set out the legal principles that will be used to address the 3 Marks

Marking criteria Marking criteria Weighting For Question 1, students need to answer the following elements correctly: A. The capital gain in relation to the family home 2 Marks B. Capital gain or loss made from the car 1 Mark C. The capital gain in relation to the sale of the business 3 Marks D. The capital gain in relation to selling the furniture 2 Marks E. The capital gain in relation to selling the paintings 2 Marks

For question 2, address the following parts: Issue: Identify and discuss the problem. Law and Application: Discussion of the first element of the cost of the CNC machine. Set out the legal principles that will be used to address the problem. Source legal principles from cases and legislation. Law and Application: Discussion of the second element of the asset’s cost, i.e. the start time for calculating the decline in the value of the CNC machine. Set out the legal principles that will be used to address the problem. Source legal principles from cases and legislation. Law and Application: Concluding discussions regarding the exact start time of holding the CNC machine for depreciation purposes, and the total cost of the machine. Set out the legal principles that will be used to address the problem. Source legal principles from cases and legislation. Conclusion: Stand back and play ‘the judge.’ Choose the argument and conclusions you think is the strongest and articulate what you believe to be the appropriate answer.

For question 1, address the following elements: A. The capital gain in relation to the family home B. Capital gain or loss made from the car C. The capital gain in relation to the sale of the business D. The capital gain in relation to selling the furniture E. The capital gain in relation to selling the paintings

Question 2: Capital Allowance Weighting Issue: Identify and discuss the problem. 1 Mark Law and Application: Discussion of the first element of the cost of the CNC machine. Set out the legal principles that will be used to address the problem. Source legal principles from cases and legislation. 3 Marks Law and Application: Discussion of the second element of the asset’s cost, i.e. the start time for calculating the decline in the value of the CNC machine. Set out the legal principles that will be used to address the problem. Source legal principles from cases and legislation. 3 Marks Concluding discussions: Concluding discussions regarding the exact start time of holding the CNC machine for depreciation purposes, and the total cost of the machine. Set out the legal principles that will be used to address the problem. Source legal principles from cases and legislation. 2 Marks Conclusion: Stand back and play ‘the judge.’ Choose the argument and conclusions you think is the strongest and articulate what you believe to be the appropriate answer. 1 Mark QUESTION 2 TOTAL MARKS: 10 MARKS

Individual Assignment Specifications This assignment aims at assessing students on the Learning Outcome from 1 to 3 as mentioned above. Assignment Structure should be as the following: Question 1: Capital Gains Tax Weighting A. The capital gain in relation to the family home 2 Marks B. Capital gain or loss made from the car 1 Mark C. The capital gain in relation to the sale of the business 3 Marks D. The capital gain in relation to selling the furniture 2 Marks E. The capital gain in relation to selling the paintings 2 Marks QUESTION 1 TOTAL MARKS: 10 MARKS

• The assignment must be in MS Word format, no spacing, 12-pt Arial font and 2 cm margins on all four sides of your page with appropriate section headings and page numbers. • Reference sources must be cited in the text of the report, and listed appropriately at the end in a reference list using Harvard referencing style. You also must refer to relevant legislation and/or case law in your answer. Reference sources must be cited in the text of the report, and listed appropriately at the end in a reference list using Harvard referencing style. • For further details, please refer to the Subject Outline and Student Handbook. • Note: Assessment task is set around the work that you have done in class. You are not expected to go outside the content of the unit but you are expected to explore it.

Weight This assignment task accounts for 20 % of total marks in this unit. Total Marks This assignment task accounts for 20 marks of total marks in this unit. Word limit Max 2000 words (acceptable to be 10% above or below this word limit) Due Date Refer to the Unit Outline, as Normal Mode & Block Mode have different due dates.