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Nicholas purchased a large block of land in an inner city suburb in 2007. There was a very old house on the land which was not habitable. Nicholas obtains permission from the Brisbane City Council to demolish the old house and builds four multi-level townhouses on the site. When construction is complete in 2009, Nicholas advertises all four townhouses for sale, but as a result of the global financial crisis he is unable to sell any of the townhouses. In 2010 with no prospects of selling the townhouses for a reasonable price, Nicholas decides to occupy one of the townhouses as his family residence and rent the remaining three townhouses. In late 2016, with property prices improving, Nicholas decides to auction the townhouses and all four are sold at auction for a profit of $100,000 each.
Explain why, or why not, any of this profit is assessable income?
Suppose that you buy a stock for $48 by paying $25 and borrowing the remaining $23 from a brokerage firm at 8 percent annualized interest. The stock pays an annual dividend of $0.80 per share, and after one year, you are able to sell it for $65. Calc..
A man plans to work for 25 years and to make deposits into a retirement fund at the amount of 100 at the end of year month. The fund earns 6% nominal, converted monthly. The fund will be used to purchase a 20- year annuity-certain in retirement. Assu..
Generate a list of estate planning objectives that apply to your personal family situation. Be sure to consider the size of your potential estate as well as people planning and asset planning. Estate planning is not just about taxes.
Grind Co. is considering replacing an existing machine. The new machine is expected to reduce labor costs by $127,000 per year for 5 years. Depreciation on the new machine is $57,000 compared with $34,000 on the old machine. In addition, inventory wi..
Taussig Technologies Corporation (TTC) has been growing at a rate of 20% per year in recent years. This same growth rate is expected to last for another 2 years, then decline to. Now assume that TTC’s period of supernormal growth is to last for 5 yea..
What are the two approaches to cost of capital. What product would you suggest that an American company introduce into China based on the current situation and the change to a “two-child” policy? Explain why direct financing transactions are more cos..
What is an IPO, and what role does an investment banker play in the process? Suppose you own a security that you know can be easily sold in the secondary market, but the security will sell at a lower price than you paid for it. What would this mean f..
Assume the current spot rate is C$1.0875 and the one-year forward rate is C$1.0724. The nominal risk-free rate in Canada is 4 percent while it is 3 percent in the U.S. Using covered interest arbitrage you can earn an extra _____ profit over that whic..
The ABC Construction Company is considering the purchase of a diesel power shovel to improve its productivity. The company finances the purchase by borrowing from a local bank with no origination fee. The principal will be repaid with the compounded ..
Triton company's copy department, which does almost all of the photocopying for the sales department and the administrative department, budgets the following costs for the year, based on the expected activity of copies:
You won a breakfast cereal competition. what is the most valuable prize?
If the company has 40 million shares outstanding and pays dividends quarterly, what is the company's nominal dividend payment per share each quarter?
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