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Calculation of Net Capital Gain/Loss for an IndividualDescribe about the Taxation for Generating Earlier Assets. “Calculation of Net Capital Gain/ Loss of an Individual” In this particular case study, capital gain or loss of an individual is calculated by applying the formula. Fred is an Australian resident as assumed in the case study. Fred was not operating in any of the trading business at the same time (Piketty, Saez and ...
Part ADescribe about the Taxation Law and Practice for Determination of Income. Refer to the case study of Rip Pty Ltd it has been observed that the company needs proper guidance as per the Income Tax Law for determination of their income for the purpose of income tax considering revenues under different head with the proper conclusion to suffice the purpose of Income tax as per the law prevailing in Australia. Three are certain questions...
Disease prevention and enhancing health outcomeDiscuss about the Health Planning and Promotion for Social Determinant. Disease prevention and enhancing health outcome is an important part of primary health care. It focus not on the treatment after the pathogenesis of disease, rather it involves ways to prevent those disease from occurring. To promote disease prevention, it is necessary to educate the public about health issues through d...
Sugar Tax ArgumentsDiscuss about the Sugar Tax Economic Consequences and Effectiveness. Sugar drinks consumption has adverse effects on the consumers, and it has posed a challenge for the government to intervene. According to Pettinger (2015), interesting economic arguments are raised on the debate on whether or not to impose a tax on drinks that are sugary. Firstly, optimal allocation of resources is what economics tries to achieve, bu...
Arthur Murray (NSW) Pty Ltd V FCT (1965) 114 CLR 314Describe about the Taxation Law and Practice for Preparement of Fees. Facts of the case The taxpayer was engaged in the business of providing dancing lessons and offered discount to students that paid fees in advance. This discount was offered to encourage the student from prepayment of fees. The agreement between the taxpayer and the students expressly provided that there would be no r...
Sale Contract and MisrepresentationDiscuss about the Business Law for Consolidated Business Acts. 1. In the present case, Dodgy Pty Ltd was the owner of café and he was to sell this café to Bill and Jill. He stated certain facts about regarding the business which led Bill and Jill into entering the sale contract. Here, we analyze the laws of business that can help Bill and Jill. As per section 19 of the Minors (Property and...
Assessable incomeDescribe about the Taxation Law for Separation Property Settlements. Taxation law of Australia focuses to provide complete knowledge in simple and clear manner by providing easy ways of application of law to practical problems (Miller and Oats 2016). The main focus of the act is towards the federal taxation system, income tax, capital gain tax, fringe benefit, and so on(Woellner et al. 2016). It provides complete introduc...
Analysis of First CaseDiscuss about the Business Laws for Dodgy Pty Ltd. In this context, the case of Bill and Jill describes that they contracted with seller Dodgy Pty. Ltd. in this contract; the seller dishonestly stated that the weekly taking of the café is $10,000. The seller also put a term related to the estimation of the per week business cost $3000. But the buyers found that the weekly taking was just below than the ...
Discuss about the Contract for Melba Tours and Blacksoft IT. A local, newly established city tour guide called “Melba Tours” is the project client and would like to create their website presentation that forms a vital part of their business plan. “Blacksoft IT” is chosen as the developer for the project and has been asked to create the web site of the client in the defined budget and scheduled timeframe. ...
Validity of Electronic SignaturesDescribe about the Business Law for Electronics Contracts using Email. Several of the rules that are applicable in case of 'paper' contracts are also applicable in case of the electronic contracts that have been created by the parties using e-mail, online or other electronic means. At the same time, more and more businesses and supplies are moving towards electronic and online credit applications including...
Australian Residency Status for Taxation Purpose Discuss about the Case Studies on Taxation. A person who visits Australia for more than six months and resides in the same place for most of the time is considered as an Australian resident for taxation purpose. The behavior of a person also determines the residency status. If a person’s routine behavior is same to the behavior that the person had before entering Australia, than the person ...
Case Study 1: Residence and SourceCase study 1: Residence and source Fred, an executive of a British corporation specializing in management consultancy,comes to Australia to set up a branch of his company. Although the length of his stayis not certain, he leases a residence in Melbourne for 12 months. His wife accompanies him on the trip but his teenage sons, having just commenced college, stay in London. Fred rents out the family home. Apa...
IssueDescribe about the Australian Taxation Law for Money Lending. The main issue in regards to this case is to opine on the nature of the payments derived by Hilary with particular reference from income from personal exertion. The summary of the relevant facts is presented below. A payment of $ 10,000 was received from the newspaper (“The Daily Terror”) and this was made in lieu of the rights, title and copyright of the stor...
Issue 1: Taxation Treatment of Hilary's Book Rights and Manuscript/PhotographsDiscuss about the Essay for Australian Taxation Law of Computation of Tax. The given case pertains to Hilary who is a famous mountain climber. Due to her fame, a local newspaper offers her $ 10,000 for writing her story in the form of a book. Hilary gives acceptance to this offer and thereby completes the book despite having no experience in this regard. T...
Enforceable Agreements and Valid Offer, Consideration, and AcceptanceDescribe about the Business and Corporations Law for Modern and Contract. 1. The aim is to find the presence of considerations for given situations and conclude that whether Jack has an enforceable agreement which is legally binding on Jane. (a) In this scenario, Jane is the offeror and Jack is the offeree. Jane is going overseas, hence she has offered her car to Jack, ...
Definition of a Tax Resident in AustraliaDefine the Tax Law for the Residents and Foreign Residents in Australia. Fred, in the given situation will not be taxed in a manner same as the manner in which a resident would be taxed. Individuals in Australia are to be considered as resident for purposes of tax if they are residents of Australia under common law (ordinary meaning test or the common law); or if the domicile is that of Australia, ...
Essential Elements of a Valid ContractDescribe about the Business Law for Gratuitous Consideration. Jane had gone abroad and he gave his care to Jack as a gift. Jack immediately agreed to the offer made to him. Jane was the offeror and Jack was the offeree. The car that was offered by Jane to Jack was of 25000 dollars. The problem that shall be discussed in answer 1 (a) relates to an enforceable contract between them. To bring into life ...
Tests for Australian residency for tax purposesDiscuss about the Taxation Ruling for Australian Residency. To take into consideration the given case facts and opine if Fred should get Australian residency for tax purposes in the given year. Rule For determining the ta residency of individuals in Australia, four tests have been recommended in the tax ruling TR 98/17. Satisfying any one of these in the given tax year would result in the u...
Question: Discuss about the Business and Corporations Law for Woordside Energy Ltd. Answer: Introduction: Consider the following situations and indicate whether consideration is present and whether Jack has an enforceable agreement: In the present situation, Jane is the promisor and Jack is the promisee. Jane has offered the car to Jack, to which Jack has also agreed. Even when the elements of valid contract i.e. offer and ...
Question: Discuss about the Theories of Contract Law. Answer: Introduction: To answer questions related to breach of contract, it is important to know whether the requisite elements for contract formation have been fulfilled or not. To make a contract enforceable by law, it is important that the following essentials be fulfilled those are offer, acceptance, legal consent, capacity, consideration and legal obligation (McKendr...
Question: Discuss about the Microsoft for Multinational Corporation. Answer: Introduction Microsoft Corporation is an American multinational company operating in Australia and other countries across the world. The headquarters of Microsoft is situated in Redmond, Washington, that offers computer programming, license, producing and also creating these programs. Edge web programs, internet Explorer, Microsoft office suit and t...
Question: Discuss about the Business and Corporations Law for Companies Business Law. Answer: Consider the following situations and indicate whether consideration is present and Whether Jack has an enforceable agreement: a) Jane is going overseas and she offers to give her Lotus Super 7 sports car to Jack. The market value for this type of vehicle in good condition is around $25 000. Jack accepts. (2.5 MARKS) Issue The agreement b...
Fundamentals of Consideration, Offer, and AcceptanceDiscuss about the Business and Corporations Law and Legal Contracts. To find the presence of consideration in the provided case study To determine whether Jane and Jack are bound by an enforceable agreement or not based on the situation given and common law. Consideration is the indication of the particular price that the promisor has asked to the other party in order to satisf...
Digital Evidence Gathering and its Relationship to Chain of Custody (CoC)Discuss about the Digital Evidence Gathering for Relationship to Chain of Custody. With the introduction of modern technologies and advanced processes of communication through electronic medium, huge volumes of data are being generated at a high velocity each day. Various law enforcement officers face challenges with the extraction of the digital evidences...
Common Law Indoor Management RuleDiscuss about the Indoor Management with Limitation and Exceptions. The indoor management rule is a doctrine under the company law which is globally accepted. The usual course of practice a company adopts to enter into contracts and other transactions is through agents who are authorized to act for the company. Thus, the said doctrine of indoor management states how laws are established to ...
