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


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.


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.


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

5 employees?


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, 29 prime, 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:
( 2 arvostelua ) Melbourne, Australia

Projektin tunnus: #8658507

23 freelanceria on tarjonnut keskimäärin 92 $ tähän työhön


Qualified and Certified Chartered Accountant with experience. I have done lots of assignments for Students. I also have written Accounting and Finance paper. Please consider my bid and allow me to start work on it. Tha Lisää

80 $ AUD 3 päivässä
(461 arvostelua)

A proposal has not yet been provided

100 $ AUD 3 päivässä
(301 arvostelua)

HI, I would like to use my experience to serve you better. You can trust my sincere indulgence both in quality and time frame. If you will give me a chance, I will ensure that you're satisfied. I'm really interested in Lisää

100 $ AUD 3 päivässä
(227 arvostelua)

Hello! Being an experienced academic writer, I would love to do thesis/dissertation for you. I have written many Masters and PHD level dissertations for students including US,UK,AUS,CA students. The topic of your thesi Lisää

100 $ AUD 3 päivässä
(257 arvostelua)

A proposal has not yet been provided

95 $ AUD 3 päivässä
(114 arvostelua)

Being an experience academic writer and well researcher. I am 100% confident I can do this project perfectly. I have already written PhD and Masters Level Paper for UK and US Students and I can easily work on it. I am Lisää

150 $ AUD 3 päivässä
(200 arvostelua)

I am a competent academic writer, with high lead times and turnaround time, proposal writer, masters level dissertation writer, PHD level dissertation and thesis writer, PHD defense PowerPoint presentation writer, argu Lisää

80 $ AUD 3 päivässä
(195 arvostelua)

Hello Am Tony, I Am Offering You The Best Of The Best Quality Writing Services. This I Offer, According To Your Budget With Around The Clock Customer Service Support. Do You Have An Urgent Project? Are You Stuck With Lisää

55 $ AUD 1 päivässä
(280 arvostelua)

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

94 $ AUD 3 päivässä
(101 arvostelua)

Dear Employer/s Greetings from Innovations India!! We are among the top 400 freelancers on this website out of the total population of more than 16.4 million. We have high job completion rate along with exc Lisää

100 $ AUD 0 päivässä
(122 arvostelua)

Hello, contact me for high quality work delivered on time. I will work on you paper personally since i do not outsource some of the writers will outsource your paper which might delay the delivery time , this guarantee Lisää

94 $ AUD 2 päivässä
(81 arvostelua)

Hello I'm creative with superb writing skills and a passion for the job. I don't just get over projects but I always effort to deliver the best as per clients' requirements and leave them satisfied. Kindly give me more Lisää

100 $ AUD 2 päivässä
(48 arvostelua)

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

100 $ AUD 3 päivässä
(62 arvostelua)

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)

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

160 $ AUD 5 päivässä
(119 arvostelua)

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)

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

100 $ AUD 3 päivässä
(50 arvostelua)

I guarantee a good job upon being awarded the project.

105 $ AUD 4 päivässä
(47 arvostelua)

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)

Hi, I am an English literature graduate with MBA Finance and Cost & Management Accounting qualification and an experienced Business consulting Professional. I would be able to do Australian taxation Assignment Lisää

100 $ AUD 3 päivässä
(29 arvostelua)