Taxation problem, Operating System

Assignment Help:

Smith, who is a civil engineer, purchased a 30-hectare block of land in Australia in 1986 and used two hectares of it as a main residence. The part that was not main residence cost $600000. In March 2011, Smith decided to conduct the business of land development with respect to the 28hectares. From that date he was involved in the grading clearance, planning and financing of the development. On 1 March 2011, the land had a market value of $2 million. When the land is developed and subdivided Smith thinks he can sell it for a total of $10 million.

Requirements:

a) Advise Smith as to the tax consequences of his actions.

b) Would you advice differ if Smith had purchased the land in 1980?


Related Discussions:- Taxation problem

How several bits are there in the logical address, Q. Regard as a logical a...

Q. Regard as a logical address space of eight pages of 1024 words every mapped onto a physical memory of 32 frames. a. How several bits are there in the logical address? b. H

Different ways in which a thread can be cancelled, What are the different w...

What are the different ways in which a thread can be cancelled? Cancellation of a target thread may happen in two different scenarios: Asynchronous cancellation: One thr

Describes responsibilities of the I/O manager, Q. Describes responsibilitie...

Q. Describes responsibilities of the I/O manager? Answer: The I/O manager is responsible for file systems and device drivers and network drivers. The I/O manager keeps follow

Explanation of computer clustering and benefits, The CTO is still impressed...

The CTO is still impressed with your work. He just came back from a technology exposition where he heard about computer clusters. All he knows is that they are the big thing for bu

Write on short note dma., Write on short note DMA. Direct M emory...

Write on short note DMA. Direct M emory Access (DMA) is a technique for transferring data from  main to a device without passing it through the CPU. Computers that have

Explain deadlock prevention, Deadlock Prevention Prevention is the name...

Deadlock Prevention Prevention is the name given to method that guarantee that deadlocks can never happen for the reason that the way the system is structured. Since 4 conditio

Multiprogramming., In a multiprogramming and time sharing environment sever...

In a multiprogramming and time sharing environment several users share the system simultaneously .what are two such problems?

Write a short note about context switch, Write a short note about context s...

Write a short note about context switch. Switching the CPU to another process needs saving the state of the old process and loading the saved state for the new process. This ta

Define a daemon process , A daemon is a process that removes itself from t...

A daemon is a process that removes itself from the terminal and disconnected, executes, in the background, waiting for requests and responding to them. It may also be described as

Mechanism for code and data sharing, Q. Consider a system in which a progr...

Q. Consider a system in which a program is able to be separated into two parts: code and data. The CPU recognizes whether it wants an instruction (instruction fetch) or data (data

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd