Prepare a report that addresses all the issues raised

Assignment Help Taxation

Reference no: EM133828954 , Length: word count:2000

Taxation Law

Your Task
You must prepare a Report that addresses all the issues raised in a letter

Assessment Description
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 prepare a Report for your client(s).

The maximum length for the Report is 2,000 words (+/- 10%) You should address all the technical issues in your advice, followed by a Reference List.

You are to include technical discussion in your Report, including an explanation of each issue, and the sources used. You must analyse the information provided and recommend the correct taxation treatment. You must justify your recommendations by referencing specific paragraphs of relevant legislation. Complete your assignment now!

You will also be assessed on your ability to gather information and effectively communicate strategies to the client as part of the Report. It will also cover the generic skill of writing, clear meaning, structure and organisation, appropriate tone and grammar, spelling, punctuation and in-text referencing etc., throughout the whole assignment.

Instructions to use GenAI/ChatGPT for the report.

This assessment is level 2. For this assessment, using GenAI is optional. (see page 3)

You CAN:

Use GenAI/ChatGPT to understand concepts, create ideas, and generate content. You must present your own reflection and understanding.

Use the ideas/information generated by GenAI after cross-referencing them with other reliable sources. You must reference all resources used including GenAI.

Assessment - Case Study Data

Background

Swan Pty Limited (Swan) is an Australian resident company that was incorporated during 2021. Initially an investment company with holdings in residential real estate and shares, Swan purchased a small restaurant and catering business.
Maggie Swan, the principal shareholder of Swan (also employed as restaurant manager), has terminated Ash Hayters, the company's accountant. Maggie has become aware that Ash has made a range of errors in preparing the 2025 tax lodgements for Swan and requires your assistance. Maggie has provided the following information produced by Ash:

2025 Income Tax Return
Additional notes accompanying the income tax return including franking account
June 2025 Business Activity Statement (BAS)
Additional notes accompanying the BAS
2025 Fringe Benefits Tax Return
Notes and workings accompanying the FBT return

Requirements

Maggie has requested that you prepare a statement of advice including:
A summary of corrections required for each return (income tax return, business activity statement, and fringe benefits tax return);
A brief explanation of each correction (also showing workings and calculations)
Correct referencing from legislation in support of each correction (where applicable)

Reference no: EM133828954

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