fb
$20 Bonus + 25% OFF
$20 Bonus + 25% OFF
Securing Higher Grades Costing Your Pocket? Book Your Assignment at The Lowest Price Now!
loader
Add File

Error goes here

Files Missing!

Please upload all relevant files for quick & complete assistance.

Stuck on Your Question?

Get 24x7 live help from our Top Tutors. All subjects covered.

loader
250 words

Error goes here

Files Missing!

Please upload all relevant files for quick & complete assistance.

Students Who Viewed This Also Studied

6 Pages
MLC 703- Principles of Income Tax Law

Required: Discuss whether the sale of the land generates ordinary income for Karl due to laws relating to the assessability of extraordinary/isolated transactions. Do not discuss Capital Gains Tax. Wh ...

Type

Home Work

Subject

Tax

5 Pages
Business Management

Kit is a permanent resident of Australia. He was born in Chile and retains his Chilean citizenship. Kit spends most of the year working off the coast of Indonesia on an oil rig for a United States com ...

Type

Case Study

Subject

Tax

15 Pages
BLO2206 Taxation Law and Practice

Calculate tax payable for the following taxpayers.  Where more than one taxpayer can be identified, calculate tax for each identified taxpayer.  NOTE: Give a very brief explanation of how yo ...

Type

Course Work

Subject

Tax

10 Pages
Business Management

Question 1 (5 Marks) Hilary is a well-known mountain climber. The Daily Terror newspaper offers her $10,000 for her life story, if she will write it. Without the assistance of a ghost writer, she writ ...

Type

Course Work

Subject

Tax

ACC304-Taxation Law

Question

Answered

Assignment

Part A  Written letter of advice

Written letter of advice.Due to COVID-19, Madison was informed by her two current employers that she would be nominated as an eligible recipient for JobKeeper payments from the government. Madison is confused about the tax ramifications of receiving JobKeeper payments and she is seeking your advice. In your own words, explain the tax treatment of JobKeeper payments to Madison and the potential impact of having two employers nominating her. She also has some sole trader income on the side and is wondering whether this will impact her nomination.

Part  B Calculate net capital gains (losses) to be included in Madison Turner’s tax return for the years ending 2019 and 2020. 

Madison Turner, an Australian resident, seeks advice on the CGT consequences of the following events. She exchanged contracts for the acquisition of an investment property, at market value, on 30 January 1999, paying a 10% deposit of 60,000. Property settlement was deferred until 10 December 2001, when the balance of $540,000 was paid, title transferred, and her name was recorded as the registered proprietor. At the time of the settlement, the market value of the property was $800,000. She sold the property on 15 June 2019 for $1 million. 

She also bought 20,000 shares in BHP Billion in October 1985, paying $18.50 per share. She decided to sell her entire holding, for $40 per share, and signed a share transfer document and handed the transfer and share script to the Stock Exchange on 21 June 2019. The transfer was not registered with BHP Billiton until 10 July 2019. She also incurred a capital loss of $50,000 from another CGT event in 2019/2020. 

You have to include ALL available methods for calculating the net capital gains for the years ending 2019 and 2020.

ACC304-Taxation Law

Answer in Detail

Solved by qualified expert

Get Access to This Answer

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Hac habitasse platea dictumst vestibulum rhoncus est pellentesque. Amet dictum sit amet justo donec enim diam vulputate ut. Neque convallis a cras semper auctor neque vitae. Elit at imperdiet dui accumsan. Nisl condimentum id venenatis a condimentum vitae sapien pellentesque. Imperdiet massa tincidunt nunc pulvinar sapien et ligula. Malesuada fames ac turpis egestas maecenas pharetra convallis posuere. Et ultrices neque ornare aenean euismod. Suscipit tellus mauris a diam maecenas sed enim. Potenti nullam ac tortor vitae purus faucibus ornare. Morbi tristique senectus et netus et malesuada. Morbi tristique senectus et netus et malesuada. Tellus pellentesque eu tincidunt tortor aliquam. Sit amet purus gravida quis blandit. Nec feugiat in fermentum posuere urna. Vel orci porta non pulvinar neque laoreet suspendisse interdum. Ultricies tristique nulla aliquet enim tortor at auctor urna. Orci sagittis eu volutpat odio facilisis mauris sit amet.

Tellus molestie nunc non blandit massa enim nec dui. Tellus molestie nunc non blandit massa enim nec dui. Ac tortor vitae purus faucibus ornare suspendisse sed nisi. Pharetra et ultrices neque ornare aenean euismod. Pretium viverra suspendisse potenti nullam ac tortor vitae. Morbi quis commodo odio aenean sed. At consectetur lorem donec massa sapien faucibus et. Nisi quis eleifend quam adipiscing vitae proin sagittis nisl rhoncus. Duis at tellus at urna condimentum mattis pellentesque. Vivamus at augue eget arcu dictum varius duis at. Justo donec enim diam vulputate ut. Blandit libero volutpat sed cras ornare arcu. Ac felis donec et odio pellentesque diam volutpat commodo. Convallis a cras semper auctor neque. Tempus iaculis urna id volutpat lacus. Tortor consequat id porta nibh.

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Hac habitasse platea dictumst vestibulum rhoncus est pellentesque. Amet dictum sit amet justo donec enim diam vulputate ut. Neque convallis a cras semper auctor neque vitae. Elit at imperdiet dui accumsan. Nisl condimentum id venenatis a condimentum vitae sapien pellentesque. Imperdiet massa tincidunt nunc pulvinar sapien et ligula. Malesuada fames ac turpis egestas maecenas pharetra convallis posuere. Et ultrices neque ornare aenean euismod. Suscipit tellus mauris a diam maecenas sed enim. Potenti nullam ac tortor vitae purus faucibus ornare. Morbi tristique senectus et netus et malesuada. Morbi tristique senectus et netus et malesuada. Tellus pellentesque eu tincidunt tortor aliquam. Sit amet purus gravida quis blandit. Nec feugiat in fermentum posuere urna. Vel orci porta non pulvinar neque laoreet suspendisse interdum. Ultricies tristique nulla aliquet enim tortor at auctor urna. Orci sagittis eu volutpat odio facilisis mauris sit amet.

Tellus molestie nunc non blandit massa enim nec dui. Tellus molestie nunc non blandit massa enim nec dui. Ac tortor vitae purus faucibus ornare suspendisse sed nisi. Pharetra et ultrices neque ornare aenean euismod. Pretium viverra suspendisse potenti nullam ac tortor vitae. Morbi quis commodo odio aenean sed. At consectetur lorem donec massa sapien faucibus et. Nisi quis eleifend quam adipiscing vitae proin sagittis nisl rhoncus. Duis at tellus at urna condimentum mattis pellentesque. Vivamus at augue eget arcu dictum varius duis at. Justo donec enim diam vulputate ut. Blandit libero volutpat sed cras ornare arcu. Ac felis donec et odio pellentesque diam volutpat commodo. Convallis a cras semper auctor neque. Tempus iaculis urna id volutpat lacus. Tortor consequat id porta nibh.

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Hac habitasse platea dictumst vestibulum rhoncus est pellentesque. Amet dictum sit amet justo donec enim diam vulputate ut. Neque convallis a cras semper auctor neque vitae. Elit at imperdiet dui accumsan. Nisl condimentum id venenatis a condimentum vitae sapien pellentesque. Imperdiet massa tincidunt nunc pulvinar sapien et ligula. Malesuada fames ac turpis egestas maecenas pharetra convallis posuere. Et ultrices neque ornare aenean euismod. Suscipit tellus mauris a diam maecenas sed enim. Potenti nullam ac tortor vitae purus faucibus ornare. Morbi tristique senectus et netus et malesuada. Morbi tristique senectus et netus et malesuada. Tellus pellentesque eu tincidunt tortor aliquam. Sit amet purus gravida quis blandit. Nec feugiat in fermentum posuere urna. Vel orci porta non pulvinar neque laoreet suspendisse interdum. Ultricies tristique nulla aliquet enim tortor at auctor urna. Orci sagittis eu volutpat odio facilisis mauris sit amet.

Tellus molestie nunc non blandit massa enim nec dui. Tellus molestie nunc non blandit massa enim nec dui. Ac tortor vitae purus faucibus ornare suspendisse sed nisi. Pharetra et ultrices neque ornare aenean euismod. Pretium viverra suspendisse potenti nullam ac tortor vitae. Morbi quis commodo odio aenean sed. At consectetur lorem donec massa sapien faucibus et. Nisi quis eleifend quam adipiscing vitae proin sagittis nisl rhoncus. Duis at tellus at urna condimentum mattis pellentesque. Vivamus at augue eget arcu dictum varius duis at. Justo donec enim diam vulputate ut. Blandit libero volutpat sed cras ornare arcu. Ac felis donec et odio pellentesque diam volutpat commodo. Convallis a cras semper auctor neque. Tempus iaculis urna id volutpat lacus. Tortor consequat id porta nibh.

8 More Pages to Come in This Document. Get access to the complete answer.

MyAssignmenthelp.com is an internationally recognized legit online coursework help provider in USA. With a team of experienced and qualified coursework writers, we provide the highest quality products that are free from plagiarism. Our experts work round the clock to satisfy students demands like can experts Write my coursework assignments or can anyone do my coursework assignments and provide them the best writing solutions.

More Acc304 ACC304-Taxation Law: Questions & Answers

Q

MLC 703- Principles of Income Tax Law

Required: Discuss whether the sale of the land generates ordinary income for Karl due to laws relating to the assessability of extraordinary/isolated transactions. Do not discuss Capital Gains Tax. Where appropriate, support your answer with legislative and case authority.    Karl is ...

View Answer
Q

Business Management

Kit is a permanent resident of Australia. He was born in Chile and retains his Chilean citizenship. Kit spends most of the year working off the coast of Indonesia on an oil rig for a United States company. He was recruited for this job in Australia and signed a contract with the company here. For th ...

View Answer
Q

BLO2206 Taxation Law and Practice

Calculate tax payable for the following taxpayers.  Where more than one taxpayer can be identified, calculate tax for each identified taxpayer.  NOTE: Give a very brief explanation of how you arrived at the tax payable figure.  As an example only, you might be told John had salary of ...

View Answer
Q

Business Management

Question 1 (5 Marks) Hilary is a well-known mountain climber. The Daily Terror newspaper offers her $10,000 for her life story, if she will write it. Without the assistance of a ghost writer, she writes a story and assigns all her right, title and interest in the copyright for $10,000 to the Daily T ...

View Answer

Content Removal Request

If you are the original writer of this content and no longer wish to have your work published on Myassignmenthelp.com then please raise the content removal request.

Choose Our Best Expert to Help You

expert
student rating student rating student rating student rating student rating
Cooper Cassidy

Master of Information Technology with Specialization in Networks and Information Security

2779 - Completed Orders

Hire Me
expert
student rating student rating student rating student rating student rating
Edgar Fox

Master in Economics

1645 - Completed Orders

Hire Me
expert
student rating student rating student rating student rating student rating
Alison Wilson

PhD in Psychology

3718 - Completed Orders

Hire Me
expert
student rating student rating student rating student rating student rating
Jane Mac

I am a professor of social science in the University of Southern California.

450 - Completed Orders

Hire Me

Still in Two Minds? The Proof is in Numbers!

33845 Genuine Reviews With a Rating of 4.9/5.

student rating student rating student rating student rating student rating
21 Jan 2022

Maths

Home Work: 0 Pages, Deadline: 4 days

Great work it was clear and concise and on time, representative was supportive with all my needs.

flag User ID: 4***77 United States

student rating student rating student rating student rating student rating
21 Jan 2022

Statistics

Home Work: 1 Page, Deadline: 3 days

It was so perfect except for the late start and responsiveness.And I got the correct answer through a new program, but it was too sudden in a situatio ...

flag User ID: 8***13 Seongnam-si, Greece

student rating student rating student rating student rating student rating
21 Jan 2022

Management

Essay: 1 Page, Deadline: 17 hours

thank you for sending me my assignment at time. great staff and good customer service

flag User ID: 7***52 Seongnam-si, Canada

student rating student rating student rating student rating student rating
20 Jan 2022

Healthcare

Essay: 6 Pages, Deadline: 14 days

Order delivered on time great customer service great communication very helpful and fast response. Great results.

flag User ID: 5***06 United Kingdom, Great Britain

student rating student rating student rating student rating student rating
20 Jan 2022

Management

Assignment: 10 Pages, Deadline: 2 days

good work, expert very helpful great communication. had great results with this work. thank you.

flag User ID: 5***06 United Kingdom, Great Britain

student rating student rating student rating student rating student rating
20 Jan 2022

Assignment

Essay: 1.7 Pages, Deadline: 18 hours

Thank you for your prompt reply and response to my inquiry. I think it will work for me.

flag User ID: 8***83 United Kingdom, United States

student rating student rating student rating student rating student rating
20 Jan 2022

Supply Chain

Home Work: 1.4 Pages, Deadline: 3 days

Well organized and information is up to the mark. I\'ll definitely share this platform with my frds also for assignment help

flag User ID: 8***02 United Kingdom, Canada

student rating student rating student rating student rating student rating
20 Jan 2022

Marketing

Assignment: 4 Pages, Deadline: 2 days

Good work, one of the tutor did my assignment wrong and the admin assign a new tutor and did the assignment again with priority and for free

flag User ID: 4***30 United Kingdom, Australia

student rating student rating student rating student rating student rating
20 Jan 2022

Geography

Essay: 2 Pages, Deadline: 8 days

thanks its good poster i still did not get the poster i hope to get the poster

flag User ID: 2***0 United Kingdom, Saudi Arabia

student rating student rating student rating student rating student rating
20 Jan 2022

It Write Up

Assignment: 3 Pages, Deadline: 23 hours

good service, with nice APA style and fast respone chat. The writing is completed before time

flag User ID: 6***06 Bien Hoa, Vietnam

student rating student rating student rating student rating student rating
20 Jan 2022

Healthcare

Assignment: 1 Page, Deadline: 4 days

won\'t be graded till I hand in the rest of the work this was just a segment of my assignment I need help with and am very plesased with the outcome

flag User ID: 8***83 United Kingdom, Great Britain

student rating student rating student rating student rating student rating
20 Jan 2022

Psychology

Assignment: 3.2 Pages, Deadline: 7 days

I like the work because you guys completed the work within the time limit even if it has lot of reading.

flag User ID: 8***70 Surrey, Canada

student rating student rating student rating student rating student rating
20 Jan 2022

Psychology

Assignment: 4 Pages, Deadline: 6 days

I like to give you my assignment due to good quality of work and you follow the all instruction .

flag User ID: 8***70 Surrey, Canada

student rating student rating student rating student rating student rating
20 Jan 2022

English

Essay: 2 Pages, Deadline: 10 days

It was good enough to pass the course. I like the way of your work. I want to give more work to you guys.

flag User ID: 8***70 Surrey, Canada

student rating student rating student rating student rating student rating
20 Jan 2022

English

Essay: 3.2 Pages, Deadline: 4 days

This is good content that you have provided in the assignment thank you for your valuable help.

flag User ID: 8***70 Surrey, Canada

student rating student rating student rating student rating student rating
20 Jan 2022

English

Essay: 2.6 Pages, Deadline: 2 days

I like the work due to accuracy and timely manner. I pass the course due to your help

flag User ID: 8***70 Surrey, Canada

student rating student rating student rating student rating student rating
20 Jan 2022

Nursing

Case Study: 3 Pages, Deadline: 3 days

Requested in short time frame. Assignment was completed within less than 2 days. Made a 90!

flag User ID: 8***49 Surrey, United States

student rating student rating student rating student rating student rating
19 Jan 2022

It Write Up

Assignment: 6 Pages, Deadline: 7 days

good timing , all requirements included , formatting as asked , quick responding .

flag User ID: 3***51 Muscat, Oman

student rating student rating student rating student rating student rating
19 Jan 2022

Physics

Home Work: 4 Pages, Deadline: 11 days

Excellent customer service! Really helpful!! Wanted assignment done in 8days and they managed to complete it within 1 day! And was a excellent standar ...

flag User ID: 8***25 United Kingdom, Great Britain

student rating student rating student rating student rating student rating
19 Jan 2022

Statistics

Programming: 12 Pages, Deadline: 19 days

I passed sucessfully thank you very much for your helpI really appreciate it...Continue doing your good work

flag User ID: 5***27 United Kingdom, Great Britain

5% Cashback

On APP - grab it while it lasts!

Download app now (or) Scan the QR code

*Offer eligible for first 3 orders ordered through app!

screener
ribbon
callback request mobile
Have any Query?