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Taxation : Common Law Test

Question: Discuss about the Taxation for Common Law Test. Answer: 1 – a. Issue under consideration Is Juliette a tax resident of Australia for the taxation year 2014/15? Legislations ITAA 1936 R v. Hammond Discussion As per the section 6-1 of the ITAA 1936, a person is are resident of Australia in the following scenarios Common Law Test – As per this test a person is said to be a resident of the country based on few factors. Those are: Behavior of the individual: The person when entering the country or living for a given period behaves a...

  • Published: 29 Nov, 2017
  • Views: 655

Principles of Financial Markets : Airlines Industry

Question: Discuss about the Principles of Financial Markets for Airlines Industry. Answer: Introduction Airlines industry is a system of transport and part of the Aviation industry. It affected by different type of internal and external factor. This Report discusses top down and bottom down analysis. The Top down analysis discusses about different type of economic indicator such as GDP, Inflation, Interest rate, Exchange rate, and personal disposable income and their effect on profitability of Qantas and Virgin. The bottom up analysis presents the...

  • Published: 12 Dec, 2017
  • Views: 666

Taxation for Amount of Sale Proceed

Question: Discuss about the Taxation for Amount of Sale Proceed. Answer: Case study 1 As per section, 100-35 of the Income Tax Assessment Act 1997 capital gain is explained as the amount of sale proceed received in excess of the cost of the CGT asset. If the Cost of the asset is more than the sale price of the CGT asset then it is a capital loss. It is important to calculate Capital Gain because it is taxable and forms part of the income tax (Faccio and Xu 2015). If an asset is held for more than 12 months then there are two methods of calculating de...

  • Published: 12 Dec, 2017
  • Views: 587

Taxation for Demolition with Lawyers

Question: Discuss about the Taxation for Demolition with Lawyers . Answer: 1. A In the given case study, Karl is an investment banker and has enough money. Petra his friend ran a DVD store and her store was located on a land property. Petra was struggling financially and needed financial help. Karl lent an amount of $100,000 to Petra at an annual interest of 8%. However, the business was unable to generate income and could not pay the interest amount. Therefore, Karl takes one quarter interest on the Petra’s land for not repaying the loan amount to...

  • Published: 19 Dec, 2017
  • Views: 526

Financial Accounting for Various Mechanism and System

Question: Discuss about the Financial Accounting for Various Mechanism and System. Answer: Introduction This particular essay presents a detailed explanation of various mechanisms and systems of accounting, which generally help to monitor, direct and control the operations of the business with particular indication regarding different functions of Qantas Airways in its operations. It has been found that Qantas Airways is Australia’s largest airline with respect to its different international flights, size of fleet and destinations across the world ...

  • Published: 19 Dec, 2017
  • Views: 587

Taxation Laws : Fringe Benefit Tax

Question: Describe about The Taxation Laws for Fringe Benefit Tax. Answer: Part A: 1: Cost incurred on communication of $1,000 by GHTY will be considered for the fringe benefit tax since the cost is borne by GHTY for its employee Lisa. While on the other hand $3000 is paid to Lisa for her childcare provider named “Happy Kidz”. The cost is assessable under the Fringe benefit tax since this cost is borne by the company on each quarter of the financial year. GHTY also incurs the cost of protection gears such as a pair of $250 for capped boots, 15...

  • Published: 27 Dec, 2017
  • Views: 741

Financial and Credit Activity

Question: Discuss about the Financial and Credit Activity. Answer: Introduction Financial accounting is one of the most important subjects that help in recording the financial events of an organization and provides the essential report as per the needs of the users. It implies that the financial accounting provide the facility to record the financial transactions of an organization and provide the necessary information to the stakeholders of the organization at the time of required the important information by the stakeholders of the company (Ellio...

  • Published: 27 Dec, 2017
  • Views: 551

Causes and Effects of the Global Financial Crisis of 2007-09

Question: Describe about the Causes and Effects of the Global Financial Crisis of 2007-09. Answer: The global financial crisis of 2007-2009 is considered by many to be the worst economic recession since the time of the great depression of the 1930’s. The global financial crisis of 2007-2009 was characterised by the economic collapse of the large financial institutions of the world and the toppling of the global stock markets amid a selling frenzy by the investors. The financial institutions were still provided an economic lifeline through fina...

  • Published: 28 Dec, 2017
  • Views: 2075

Principles of Financial Markets for Australian ASX

Question: Describe about the Principles of Financial Markets for Australian ASX. Answer: Introduction The commonwealth bank of Australia and the National Australian bank are among the listed banks in ASX. Although the ASX has many banks listed in the banks and financial sector segment, the two banks compete in equal measures making a good analysis of their financial statements (Barth, 2009). Although the banks in the financial industry are not performing very well, these two banks are performing relatively well in Australia. Their shares are performi...

  • Published: 29 Dec, 2017
  • Views: 567

Taxable Capital Gains for Fred

Question: Discuss about the Taxable Capital Gains for Fred. Answer: 1. The issue at hand in the given case is to ascertain the taxable capital gains for Fred who as per the information provided had sold a holiday home situated in Blue Mountains.  In the given case, even though there is a time lap between the enactment of sale contract and the payment receipt, but it is not a concerning matter as both the dates tend to converge in the current financial year and hence the capital gains derivable from the sale of the house would also be taxabl...

  • Published: 30 Dec, 2017
  • Views: 602

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