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Legal System in South Africa: OverviewA business takes place within a specified legal context especially at the time its complete analysis, which is strictly regulated by law. The law that has been formulated and implemented for constraining the activities of a business is known as the business law (Kelly, Holmes & Hayward, 2005). The paper is organized in such a manner that proper information about the specific elements of the business ...
Competency and Capacity of the PartiesOne of the essential elements of a valid contract is the competency and capacity of the parties to enter into a contract. Among the factors like maturity of age and soundness of mind, parties are required not to be barred by law and pre-existing contracts to be capable of contracting. When a party is involved in a contract with a company for a particular work, the party cannot engage with another company f...
Stella's Income from Sports Participation Stella received AUS$ 85300 from sports event participation: Stella is an accountant by profession. So any income she is earning should be considered as salary. Any income she is earning from any other sources other than income should be considered as income earned from other sources. As an Australian resident a person is liable to declare all income earned anywhere in the world that has been earne...
Sale of House - Tax ImplicationsIncome Tax Assessment Act, 1997 is the current legislation in Australia governing the provisions in relation to the income tax for the individuals and corporations in the country. Australian Taxation Office, here in after to be referred to as ATO, is an independent statutory body of Government of Australia that regulates the taxation environment in the country. The relevant provisions of the Income Tax Assessmen...
Assessment of net capital loss or net capital gainThe first requirement seeks to assess the net capital loss or net capital gain of the client based on the information provided about its various assets during the present financial year. In addition to this, the first requirement also addresses the consequence of income tax due to occurrence of transactions during the particular financial year. The client provides information about tax that a c...
Enforcing terms of an agreementA tribe of South American people live in forests, and its members have never seen modern civilisation in their life. This tribe is controlled by elders who made the rules in the tribes which favour everyone. Generally, these rules are proposed by the elders, and they are implemented based on what the group agrees, thus, it was an informal process. Now the tribe is developing a constitution in order to make rule...
Scenario 1: Declining Customer ShareA well-known Australian tyre retailer, with a 25 per cent market share in the Australian market found their market share declining steadily year by year. Despite selling trusted, well-known brands like Dunlop and Good Year they are steadily losing their customers. When a new CEO joined the company, she decided to do a walk through and visit to 20 of their key retail stores, visiting both stores located in ...
Background and PresentationThe rationale behind this assessment is present a measure of the suitability of the adoptive parents towards taking care of the adopted child as part of the requirements to be fulfilled by the adoption Agencies in Australia (Rotabi, 2016, pp.81-92). The assessment further seeks to examine the satisfaction of the relationship between the partners willing to adopt, which reflects the parenting capabilities of the spo...
Learning Outcomes:The new Royal Adelaide Hospital project is based on the public-private partnership model (Liu, Yu & Cheah, 2014). This new Royal Adelaide Hospital project is the biggest infrastructure project in the Australian healthcare department. Following the properties of the PPP projects, the Australian government has done a partnership with the SA Health Partnership Pty Ltd. for this project. The new Royal Adelaide hospital w...
Background and FactsWhether Karen can terminate the contract with Gym & Tonic, and if she is liable to pay the $100 fee. Section 18 of the Australian Consumer Law (Schedule 2 Competition and Consumer Act 2010 (Cth)) provides that “An individual must not, in trading activity or commerce, engage in conduct that is deceptive or misleading or has the potential of misleading or deceiving the other party into contracting.” The Trad...
Punishment for Criminal OffensesThe tribe’s constitution has been reviewed and it is based on the guidelines that have been given by the legal system of Hart. A renowned philosopher named Hart from Britain gave a system of law that is based on the three parts. Hart had framed these set of provisions to assure that the functioning of the laws within the state is carried out in an efficient manner. These three provisions or rules have be...
IssuesMaterial facts are that Ellen is a graduate of the College of Alternative Medicine and was looking to start her own business. She decided to open a meditation studio and looked around the inner city suburb of Paddington for suitable premises. She eventually found a terrace house near Oxford Street, Sydney, NSW. Before entry into a lease agreement, Ellen sought an independent advice from the Local Council. Being specific on her working...
Why is it necessary to maintain a fixed asset register and what does it enable you to do?Asset Register for a Photocopier Machine worth $ 23000, Transport and Council (2015.Pg 7) Asset Name: Photocopier Machine Asset Class: Office Fixed Asset Asset No: OF/PH/1-16/10 Description: Cream-White, Size SP 3510 SF, 28 ppm Physical Location: George Street, Melbourne VIC 3000, Adel Building RM 12 Serial No: 0000...
Residency and Tax Considerations10(1) and 10(2) of Section 6 it has been stated for an individual resident in Australia his/her world wide income both ordinary and statutory income shall be taxable in Australia while for a non-resident only the income earned in Australia shall be taxable. In terms of Section 6(1)(Anon., n.d.)of Australian Income Tax Assessment Act, 1936 the term resident and resident of Australia has...
Land Acquisition and Capital Gain TaxEvery concept in the report are delineated according to the most recent diagrams of tax collection with the goal that the profound examination can be rendered. The real stipend of the administrative specialist should be possible with the frameworks of tax collection, as the reference of the case laws has been given. The Fringe Benefit impose is likewise broke down as indicated by the Australian Taxation. Th...
Elements required for a valid contractWhether the contract formed between Vincenzo Franco and Scenic view can be invalidated with respect to the rules of contract law. There are three essential elements which are required to form a contract. These are offer and acceptance, consideration and intention. On the other hand a valid contract can be identified based on factors such as legality, capacity, genuine consent – duress, mistake, mi...
DiscussionHaigh’s Chocolates is an Australian company owned by the family of Alfred E. Haigh, who was the one to establish the company in the year 1915. The Haigh chocolate aims at making chocolates of premium quality from cocoa beans. The headquarters of the company is in Adelaide, Australia. On the other hand, REDDY’S Pty Ltd, is an Australian company, through which the aims to distribute its products into the international ...
Responsibilities and Compensation of DagonThe issue in this case is a result from the event that Dagon who is a follower of Cthulhu Mythos was offered a position bythe congregation of the Cthulhu Mythos Pty Ltd which is a company that is responsible for the administration and spreading of the religion in the New South Wales area and offered Dagon the position of High Priest of Innsmouth on the first week of November 2017. A written contract ...
Factors Influencing Acquisition of SoftwareThe art of editing photos to design, shape, and size that suits the users' demands is a common feature of the current technology usage. This process is commonly referred to as Photo-Editing while in some cases it is known as graphic designing, and it affects the current lives to a large extent (Adjibolosoo 2014, p. 126). Almost everybody today uses these skills even without attending classes t...
IssuesIn the given case study, several issues are involved. The primary issues being whether Ismail can claim any action against COOLPOINT. This issue can be solved by discussing the provisions of Consumer Protection law. The English Consumer Law under Part 1, states that every company should follow a mandatory safety standard for its product. It is required that every company should compulsorily include safety information on their produc...
Elements of a Valid ContractThe aspect of offer and acceptance are two of the key elements of a valid contract. The present case presents information which is open interpretation. There are several instances where contracts have been breached or rescinded due to miscommunication. It is important to note in this case that David and Edwin have been colleagues and both lover of Badminton and hence that is where their interest lies. As per the inf...
Malaysian taxationWith the increasing changes in the external environment, an entity owner becomes more cautious in terms of safeguarding its business interest from all the external competition lies in the market to maintain its potential for capturing larger market share (Shafai, Amran and Ganesan, 2018). To analyze the financial performance of an entity, it is essential to keep a close watch on the tax structure of the country in which the f...
Separate legal entity The recognition that a corporation is a separate legal entity in its own right is the foundation of modern corporate law is a statement which has two aspects, firstly, as how the corporation was considered as a separate legal entity in law and secondly, how the said principle is regarded as the foundation of the modern corporate law. The firstly question requires an analysis of the leading case law of Salomon v A Salomon A...
Introduction: Challenges faced by financial institutions in the Middle EastIn the present day situations, while there are numerous risks and challenges that are faced by the financial institutions, more likely those which belong to the Middle East countries are much exposed towards the terrorist financing, money laundering etc. And that calls for the much necessity for adoption of the preventive measures that can be adopted and implemented by ...
The Policy of Reserve Price in the Australian Wool Industry Free market refers to a market scenario that operates independently with the help of autonomous demand and supply. Depending on supply and demand situation price and quantity are determined in the market. The equilibrium price works as an invisible hand to adjust and reinstate equilibrium position. Government however often intervenes in the market with the objective of increasing welfar...
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