Suljettu

Australian taxation

Question 1 (10 Marks)

Jack and Jill jointly own and run a bed and breakfa

st business. The business is run

through their partnership, J & J Bed and Breakfast.

Jack and Jill also own an

investment property together which they purchased i

n equal proportions. During the

year, they undertook the following transactions:

Purchased furniture for their bed and breakfast bus

iness for $3,000 on 21

December 2014. The furniture is expected to last fo

r seven years.

Purchased a printer for their bed and breakfast bus

iness for $700 on 30 April

2015. The machine is expected to last for three yea

rs.

Purchased an air-conditioner for their investment p

roperty for $2,000 on 15

March 2015. The air-conditioner is expected to last

for eight years. Jack

and Jill contributed to the purchase price of the a

ir-conditioner equally.

Advise Jack and Jill of their income tax consequenc

es arising out of the above

information under both the diminishing value method

and the prime cost method (if

relevant) for the year ended 30 June 2015. Assume t

hat the business does not

qualify as a small business entity.

Question 2 (10 Marks)

Alan is an employee at ABC Pty Ltd (ABC). He has ne

gotiated the following

remuneration package with ABC:

salary of $300,000;

Payment of Alan's mobile phone bill ($220 per month

, including GST).

Alan is under a two-year contract whereby he is req

uired to pay a

fixed sum each month for unlimited usage of his pho

ne. Alan uses

the phone for work-related purposes only;

Payment of Alan's children's school fees ($20,000 p

er year). The

school fees are GST free.

ABC also provided Alan with the latest mobile phone

handset, which cost $2,000

(including GST).

At the end of the year ABC hosted a dinner at a loc

al Thai restaurant for all 20

employees and their partners. The total cost of the

dinner was $6,600 including GST.

(a)

Advise ABC of its FBT consequences arising out of t

he above information,

including calculation of any FBT liability, for the

year ending 31 March 2015.

Assume that ABC would be entitled to input tax cred

its in relation to any GST-

inclusive acquisitions.

(b)

How would your answer to (a) differ if ABC only had

5 employees?

(c)

How would your answer to (a) differ if clients of A

BC also attended the end-

of-year dinner?

Taidot: Tutkimusten kirjoitus

Näytä lisää: writing proportions, writing machine, writing for academic purposes, writing a bill, uses of academic writing, Thai writing, purposes of academic writing, purposes in academic writing, prime pay, june is the month for, is 1 a prime, expected salary question, c&j bus, bc partners, australian academic writing, abc writing, abc es, abc 11, pam form contract 2006 retention sum, additional fixed pay, pay sale contract, pay hour fixed outsourcing, pay per contract telemarketing, example pay per click contract, pay per appointment contract

Tietoa työnantajasta:
( 0 arvostelua ) Zagazig, Egypt

Projektin tunnus: #8659825

16 freelanceria on tarjonnut keskimäärin 104 $ tähän työhön

ameenulhaq66

Hi,i have done Australian taxation assignment [url removed, login to view] of my work will be provided once u will contact me.

100 $ AUD 2 päivässä
(629 arvostelua)
8.0
Emam9109

Hi, I am a professional writer, and I have some expert academic writers. They are very proficient. I always check and recheck before sending to the client. Do not worry about the deadline. I am eagerly waiting fo Lisää

147 $ AUD 3 päivässä
(101 arvostelua)
6.5
swift555

A proposal has not yet been provided

100 $ AUD 3 päivässä
(59 arvostelua)
5.8
mulwal

Hello, am sure i can help you in completing your Australian taxation paper Kindly message me so as to discuss further on the [url removed, login to view]

105 $ AUD 3 päivässä
(121 arvostelua)
6.1
Valuesolutions

A proposal has not yet been provided

94 $ AUD 2 päivässä
(81 arvostelua)
6.1
salikgondal

A proposal has not yet been provided

155 $ AUD 3 päivässä
(53 arvostelua)
5.5
sabirshah4545

I am an expert in this field from long time. I can do it perfectly. I’ll be waiting for your positive reply thanks.

147 $ AUD 3 päivässä
(119 arvostelua)
5.7
saeedyasir

Hi What an excellent project! I am Yasir Saeed, a BBA and MBA graduate in Marketing and Finance, respectively having years of expertise in writing academic work across all disciplines. With a surety of plagiarism repo Lisää

147 $ AUD 3 päivässä
(62 arvostelua)
5.7
anacris1

So, you have come to the end of term and realized that you do not have the time to write your final dissertation or essay. Thats where Anacris comes to your rescue. We will provide you with an authentic, well researche Lisää

90 $ AUD 3 päivässä
(50 arvostelua)
5.3
BDSEO

Respected Employer, I am interested in your project and I would like to work for you. Kindly don't ignore me because of my fewer reviews. Just give me a chance to prove myself. I will not give any issue of copy paste a Lisää

147 $ AUD 3 päivässä
(46 arvostelua)
5.0
bsilver161

Hello. I am not working on any project right now. I can assure you that I can deliver high quality work on time. I am willing to start immediately. Thank you.

88 $ AUD 3 päivässä
(54 arvostelua)
4.6
venkatesh1312

Hi we are a team of finance professionals with knowledge and experience in Finance. Our team consist of Cost and management accountant, Charted accountant and a MBA finance. We assure you a high quality performance a Lisää

100 $ AUD 3 päivässä
(10 arvostelua)
4.2
writings254

Am a 4th year student of Economics and Statistics, CPA K/6 finalist and will handle your Taxation assignment comfortably in the shortest time possible. As a CPA student we covered the tax systems of various regimes and Lisää

80 $ AUD 1 päivässä
(37 arvostelua)
4.6
Abbadwajid

I am a CAT (Certified Accounting Technician) and ACCA (Association of Chartered Certified Accountant) qualified, pursuing CFA (Chartered Financial Analyst). Hence, I have extensive knowledge of finance, accounts, audit Lisää

100 $ AUD 3 päivässä
(11 arvostelua)
3.8
jc1968

Hi, I am based in Australia, and this is one of the reasons I am applying for this project. Familiarity with Australian tax laws is crucial and my knowledge I believe would set me apart from many of the applicants y Lisää

100 $ AUD 3 päivässä
(6 arvostelua)
3.3
chargingfan

A proposal has not yet been provided

55 $ AUD 1 päivässä
(11 arvostelua)
3.9
omayiomicah

Hello, I have over three years in academic research. Please find it fit to assign me this order and i promise to provide a high quality work and will deliver in time. I can provide samples of my previous work if you w Lisää

100 $ AUD 3 päivässä
(12 arvostelua)
3.0
shish1992

I subscribe to the concept of continuous improvement in all the tasks I engage in. The approach that I adopt for all the tasks that I commit to is to first comprehend all the requirements, conduct necessary research an Lisää

45 $ AUD 3 päivässä
(4 arvostelua)
1.3
danishwaqar

Hi, I am an article writer and a student of ACCA as well, I know how to answer this question of partnership.I will surely do it in a professional way [url removed, login to view] you

50 $ AUD 3 päivässä
(4 arvostelua)
0.6
bernardbiyi

Richard Olabiyi Bernard AAT (Association of Accounting Technicians) ACCA (Association of Certified Chartered Accountants) ACA (Association of Chartered Accountants) My services are: 1. Financial Accounting Ser Lisää

244 $ AUD 2 päivässä
(0 arvostelua)
0.0