Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Part 1: Case study Janet (taxpayer) residing in Australia is named as the sole beneficiary of a property (1.85 hectares) with a large homestead as a result of the death of a relative on 7/10/2009. The property is not used for commercial purposes and at the date of death, the property was valued at $1.45million. Settlement took place on 21/12/2009. After moving into the homestead shortly after taking ownership, she planned to take a one-year rip which she had been planning for some time in late 2010. The taxpayer felt that the homestead was far too large for her (she is single), applied to the ATO for an exemption for ABN registration and some fourteen months later (16/2/2011), she obtained council approval to subdivide the property into three, with the intention of building three units, one she will take up as her own residence, the other two will be sold. Work commenced some weeks after approval and on 12th December that same year, the taxpayer returned and moved into one of the apartments. The other two were sold in March/April in 2012, one selling for $1.35m (24/3/2012), the other for $1.45m (9/4/2012). You are to consider the CGT implications both from the relevant sections (ITAA), rulings, etc. and from the values (if/where applicable). Assume that the blocks are subdivided equally. For each determination that you make, you should clarify. You should also clarify what Capital Gains and CGT is in your answer (15 marks) Part 2: Question Explain using examples and relevant sections of the act, what the differences between Ordinary Income and Statutory income are. Use your own examples (not from MTG or Barkoczy text)
During the past month, the company purchased 6,000 pounds of direct materials at a cost of $16,500. All of this material was used in the production of 1,400 units of product. Direct labor cost totaled $28,500 for the month.
Can you provide me with some ideas for a project which entails choosing four companies that are in the same industry and similar in size (total revenues or total assets) from companies included on the Standard and Poor's (S&P 500)?
What is the highest price that you would be willing to pay for an insurance policy that fully insures you in the event that your house burns down?
Identify and describe the general formula for calculating the adjusted basis of property.
What do you think would be an acceptable return on investment in the current economic climate? Please explain.
Discuss the pros and cons of the U.S. Federal Government guaranteeing the pension funds of a private company when it declares bankruptcy. And whether the U.S. Federal Government should guarantee and state your rationale.
Prepare a schedule translating the trial balance from Norwegian kroner into U.S. dollars. Assume the kroner is the functional currency.
Assume variable manufacturing overhead is allocated using machine-hours. Give three possible reasons for a favorable overhead efficiency variance. Which reason is most persuasive? Why?
What factors are likely to drive an organization's outlays for new capital(such as plant, property and equipment) and for working captial( such as receivables and inventory)? what ratios would you use to help generate forecasts of these outlays?
John has $55,000 net earnings from the sole proprietorship. John is also employed by a major corporation and is paid $25,000. John' self-employment tax in 2013 is:
In the United States, about one in every four companies uses variable costing for internal reporting purposes. These companies must make adjustments to these reports for external-reporting purposes. Explain.
The cash register tape for Leprechaun Industries reported sales of $7,783.12. Record the journal entry that would be necessary for each of the following situations: (a) Cash to be accounted for exceeds cash on hand by $52.60.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd