Law Assignment Sample
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Students, pursuing a degree in law, know the amount of complication one assignment involves within. An accurate assignment writing sample makes the daunting task of assignment writing easier. How? Read on and see how law assignment samples will help you out-
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- Choosing topics become easier.
- Decreases citation mistakes.
- Improves writing patterns.
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Taxation law assignment Sample ( Example)
In 1982, Billy Jones purchased eight hectares of land for a strawberry farm at the cost of $320,000. By 1989, another two hectares of land was brought for $40,000. Cost included a stamp duty of $800 and legal fees of $1600. However, due to crop failure, Billy decided to sell his land. Since he could not find a buyer who would buy his whole property, he decided to sell the land by sub-division. He had to spend an additional amount of $160,000 on sub-division. He finally sold the land in July 2011 for $700,000. The contract provided that half of the money would be payable after settlement and the remaining on March 31, 2012. The outstanding balance would accrue at the interest of 10 percent per annum. The agent’s commission would be $12,000 and legal fees would be $2,400. Give Billy’s tax advice for the financial year of 2011-12.
Cost of land: $40,000
Stamp Duty: $800
Legal Fees: $1600
Sub-division expenses and cost of disposal: $160,000
Agent’s commission: $12,000
Legal fee: $2400.
Out of these 20 percent is applicable to the taxable area of land, so a total of $77,280 is calculated as cost base.
Next we need to determine capital gains. Capital gains refer to the excess of the sale value over cost base.
Sale value: (20 percent of $700,000) = $140,000
Cost base: $77,280
Capital gains: Sale value – cost base = $62,720
However, since Billy has held the new block of land for more than a year, he can discount 50 percent of the capital gains. So the actual capital gains would be 50 percent of $62,720 = $31,360.
Besides capital gains, there is another source of income that is taxable. Billy had entered into a sale agreement on the condition that the settlement of the money would be made on October 12, 2011, the date on which the sale deed would become effective. The outstanding balance would attract an interest of 10 percent p.a. The interest amount received on such a transaction must be shown under the other income of Billy.
Total amount of sale = $700,000
1st installment = $350,000 dollars
2nd installment = $350,000 dollars which attracts an interest of 10 percent p.a. for a period of 5 months 19 days.
Amount taxable = $16,440
Total number of days which accrues interest = $171
Total number of days in a year = $365
So taxable interest = 35,000/365 x 171 = $16,400.
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How To Write A Law Assignment?
Perfect samples make it easy
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Here’s a short guide on the steps one should follow while working on a law assignment-
Pick your topic first
If you are given a choice, choose a topic first. It shouldn’t be too narrow or too broad for you to manage. Surf through different online/ offline sources to find a suitable topic.
Research every source
Researching is a fluid term, and technically you are doing that before you have picked the topic. Continue researching important aspects coming up every day on both online and offline sources. If you find it difficult, trust our examples and contract law assignment samples.
Plan the assignment/ brainstorm
Know how to plan your law assignment by downloading our assignment sample format. Identifying legal issues, providing evidence, and drafting the arguments are the fundamentals of legal assignments that you will know better with our university assignment example.
After brainstorming it’s time to start writing the first draft. Come up with clear, concise, and well-referenced assignment. You have our law assignment samples as a suggestion. Notice the way our experts have addressed the issues there. If you find it difficult, contact us for tailor-made solutions.
Citation, editing and proofreading
Contact us, and we will write you a thoroughly cited, edited and proofread law paper. Know fundamentals with law assignment samples that we have uploaded in the website.
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