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LAWS19034 Taxation Law And Practice

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Questions

1. Advise your client on how the following items will be treated for tax purposes under Australian tax law:
 
i. Webjet frequent flyer points received by a business analyst employed by a large business consultancy firm in relation to work related travel paid for by the firm.
 
ii. amounts received by a crane hire company from its customers for a damaged crane
 
iii. a free overseas holiday received by a nightclub manager from an alcohol supplier
 
iv. the return to its members of excess funds raised by a canoe club for the purchase of additional canoes
 
v. a payment made by a television station to an Australian footballer for being named the best and fairest in the AFL
 
vi. Expenses relating to a building qualification for a building apprentice
 
vii. Expenses relating to a short course in art management in the hope of becoming an art director
 
viii. Expenses relating to work make-up and work dresses
 
ix. Expenses relating to travel between home and office
 
x. Expenses relating to travel between one employer and another employer
 
2. Manpreet is an international student studying an accounting degree at CQU, Sydney. She commenced her studies in term 1, 2016. In the 2016/2017 financial year she worked part time as an office assistant at an Accountant's office to gain work experience in her chosen career and made $45,000 from that job. Manpreet also received $20,000 from her parents to assist her with her living expenses, and a $10,000 distribution from a trust account set up in India by her grandmother of which she paid $1,000 in foreign tax. She spent $18,500 on her studies, $2,000 on a computer and printer for educational purposes, and $500 on a new mobile which was required for work purposes.
 
Calculate Manpreet's net tax payable for the 2016/2017 financial year, making reference to the taxation formula, the reasons for including or excluding specific items, your calculations, and the applicable tax law (sections of legislation and/or case law).
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My Assignment Help. Taxation Law And Practice [Internet]. My Assignment Help. 2021 [cited 26 October 2021]. Available from: https://myassignmenthelp.com/free-samples/laws19034-taxation-law-and-practice/manpreet-net-tax.html.


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