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Question-
Background
Luke Warm is an electrician who acts as a sole trader. In the year ended 30 June 2012, Luke received the following benefits:
1. Rent-free business accommodation worth $100 from his landlord.2. Tickets for the rugby league grand final worth $50 from one of his customers who operates a newsagency.3. Free light switches worth $150 from a supplier, of which he will use 80% to service his customers and 20% in his private residence.Required
Calculate Luke's assessable income (if any) in relation to items 1-3 above. Quote relevant legislation (you must be specific) and show all workings for each item.
What part of that distribution was a dividend and How much of each of their distribution will be taxed as a dividend?
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Prepare a tax research memo to the file that addresses the issues you feel are most relevant to Mimi's various issures.
part aexplain why the payment to the taxpayer in fct v dixon 1952 86 clr 540 was assessable income but the payment in
scape corp. manufactures phony equipment. scape leased equipment to user inc. on 1st january 2013. scape produced the
What recognition criteria for deferred tax liabilities and assets must Wannon Water meet in order to recognise the net deferred tax liability of $36.879 million in its accounts?
During the first day we were open, I prepared about 7 returns and estimated the refunds of those to be about $20,000 in total. Why do you think the IRS goes to the trouble to provide this free service when most lower income individuals receive a r..
Also note any areas for improvement you may see. The company I decided to go with for the 10-Q is Whole Foods Market Inc.
Write down a program which will determine the tax rate on an employee based on gross pay. He or she will fall into a different tax bracket for anything over $5,000.00.
the personal holding company (PHC) tax penalizes taxpayers that enter into tax-motivated transactions designed to shelter passive income of closely held corporations from higher individual tax rates. Suppose you represent a professional athlete.
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