Access Taxation Answers to Make It Less Taxing : Page - 6

Course Code   :  LAW2465

Course Title   :  singapore taxation

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ResidencyMr Mark Lewis is employed on a luxury cruise liner which travels the Mediterranean Sea. After deductions his taxable income is AUD$150,000, (Hong Kong Dollar 790,000) He owns a farmhouse in Australia which was his family home. After divorcing his wife, the wife took their twins to live in Canada. Mark now rents the farmhouse to a lovely couple who sublease parts of the house through Airbnb. The farmhouse is rented including all furn...

Course Code   :  ACCT 3221

Course Title   :  income taxation

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Question 1 Each of the following independent cases describes a situation with a proposed tax treatment. For each case, indicate whether the treatment is correct, and justify your conclusion. Case A: In 2000, George Marker bought a 500-acre parcel of land for $400,000. He was going to build a home on the property. However, in 2018, he received an offer of $900,000 for 220 acres of the property. Because these 220 acres of land were waterfront ...

Depreciation Allowances for ABC LtdRequired a Calculate the depreciation allowances for deduction of ABC Ltd for 2018/19. b Determine the profit tax liabilities of ABC Ltd for the year ended 31 December 2018. (Ignore provisional tax and any tax waiver or tax reductions in your calculation. Assume the taxpayer would not be qualified for the two-tiered profits tax rate.) c Explain your treatment of the expenditure with (*) when preparing the tax...

SCENARIO To accommodate continued growth of the organization, we have hired two new salespeople to service our most northerly locations in the Northwest Territories and Nunavut. As the organization has not previously had employees working from these jurisdictions, management would like to ensure that the payroll department is aware of the additional payroll tax that will be applicable to the new employees. You have been asked to prepare a memo to...

Summary of Alec Trevelyan's Financial InformationMr. Alec Trevelyan lives in Kamloops, British Columbia. He is 42 years old. His wife Naomi is 40 years old and, for 20XX, she has Net Income for Tax Purposes of $6,000. They have two children. Their daughter Rhoda is 16 and has income from part time jobs of $1,200. Their son Mitchell is 12 and has no income of his own. Mr. Trevelyan works for a large public company and, during 20XX, his basic sala...