Securing Higher Grades Costing Your Pocket? Book Your Assignment at The Lowest Price Now!
loader

Phone no. Missing!

Enter phone no. to receive critical updates and urgent messages !

Add File

Error goes here

Files Missing!

Please upload all relevant files for quick & complete assistance.

Guaranteed Higher Grade!

ACC304 Taxatation Law

tag 0 Download 4 Pages / 825 Words tag 02-07-2021

Questions:

John has always beena resident of Australia for tax purposes. In the 2016/2017 tax year, he disposed of the following properties:
1. A building he bought on 1 December 2009 for $200 000.  The building qualifies for capital works deductions at the rate of 2.5% a year.  The building was sold on 30 November 2016 for $300 000.
2. A house that he used as his main residence until 1 July 2009, at which time its market value was $350 000. He purchased the house on 1 July 1995 for $250 000. John rented the house before selling it for $700 000 on 1 July 2016.
3. A service station. John has acquired the vacant premises 1 July 2009for $750 000 and established the business on that date. He sold the business on 20 May 2017for a net consideration of $1 880 000. This was made up as follows:
Goodwill500 000
Shop and land1 480 000
Less debt taken over secured over stock(100 000)In addition, John received a further $20 000 for signing a contract not to open another business within a 10 km radius for the next five years.The turnover of the service station for the previous financial year was $540 000. He also has a 45% interest in a property development company which has assets of $5.4 million. His wife also has a 6% interest in that company.  The turnover of the property development 
Download Sample Now

Earn back the money you have spent on the downloaded sample by uploading a unique assignment/study material/research material you have. After we assess the authenticity of the uploaded content, you will get 100% money back in your wallet within 7 days.

Upload
Unique Document

Document
Under Evaluation

Get Money
into Your Wallet

Total 4 pages

Cite This Work

To export a reference to this article please select a referencing stye below:

My Assignment Help. (2021). ACC304 Taxatation Law. Retrieved from https://myassignmenthelp.com/free-samples/acc304-taxatation-law/business-and-Investment-planning.html.

My Assignment Help (2021) ACC304 Taxatation Law [Online]. Available from: https://myassignmenthelp.com/free-samples/acc304-taxatation-law/business-and-Investment-planning.html
[Accessed 28 January 2023].

My Assignment Help. 'ACC304 Taxatation Law' (My Assignment Help, 2021) <https://myassignmenthelp.com/free-samples/acc304-taxatation-law/business-and-Investment-planning.html> accessed 28 January 2023.

My Assignment Help. ACC304 Taxatation Law [Internet]. My Assignment Help. 2021 [cited 28 January 2023]. Available from: https://myassignmenthelp.com/free-samples/acc304-taxatation-law/business-and-Investment-planning.html.


Stuck on Any Question

Our best expert will help you with the answer of your question with best explanation.

question
We will use e-mail only for:

arrow Communication regarding your orders

arrow To send you invoices, and other billing info

arrow To provide you with information of offers and other benefits

Phone no. Missing!

Enter phone no. to receive critical updates and urgent messages !

loader
250 words
Error goes here

Error goes here

Files Missing!

Please upload all relevant files for quick & complete assistance.

We Can Help!

Get top notch assistance from our best tutors !
Excel in your academics & career in one easy click!

icon

Other Samples

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.

icon

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?
close
Subtraction Payment required!

Only one step away from your solution of order no.