Range of errors in preparing the 2025 tax lodgements

Assignment Help Taxation

Reference no: EM133828971

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.

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. Complete your assignment now!

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: EM133828971

Questions Cloud

Which cpt code should be assigned for radiologic examination : Which CPT code should be assigned for radiologic examination (x-ray) of the forearm, anteroposterior (AP) and lateral views for a 9-year-old patient?

Markov analysis in forecasting : Explain what you understand by the use of Markov Analysis in forecasting. Why would an analyst want to use Markov Analysis to attempt a forecast

Which aptly falls on her birthday : As I will dive in deeper, a quick overview of Florence Nightingale would see her born on May 12th, 1820, in Florence. Which aptly falls on her birthday?

How does change model reflect systems : How does a change model reflect a systems-thinking approach to addressing organizational challenges?

Range of errors in preparing the 2025 tax lodgements : Range of errors in preparing the 2025 tax lodgements for Swan and requires your assistance. Maggie has provided the following information produced by Ash

Explain two ways to reduce prejudice in america : Based on Myers' discussion of the social sources of prejudice, explain at least two ways to reduce prejudice in America.

Effective communication is essential to be effective leader : Effective communication is essential to be an effective leader. We know it is important whether you are communicating upward

Your current or past employer would be most appropriate : Choose an organization you are familiar with; your current or a past employer would be most appropriate.

What findings would you except with percussion of the thorax : She is a non-smoker. You suspect that she has a pneumothorax. What findings would you except with percussion of the thorax?

User Account

All Pages