Taxation law notes – Winson Edition 2010 Income from business The main issues that arise from income from business: 1. Is a business being carried on? Ferguson v FCT FCT v Walker Ruling TR 97/11 Ruling TR 2007/8 1.1 hobby or business - Evans v FCT—gambling - FCT v Stone—sportman and sponsorship 1.2 Share trading - Shields v Deputy Commissioner of Taxation 2. Is income or capital nature? 2.1 scope of business - Californian Copper Syndicate v Harris - Western Goldmines (NL) v DCL (WA) -
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ee Lab Newton’s Second Law (Investigation 2.3.1 in Nelson 11U Text p68) The text asks you to vary the mass three times‚ and then the force three times and to run each trial only once. This is insufficient data to accomplish our goal‚ which is to validate (proof) the second law is true. You will need to vary the mass seven times‚ the force seven times and you will need to run the trials a few times each to acquire approximately 10 time intervals per trial. Then we will have sufficient data
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business as a trading trust for the purposes of section BG1 of the Income Tax Act 2007. Issue: Mr A and Mr B‚ two independent shareholders work full time in the IT Consultancy business. They were paid $80‚000 salary each in the first year but decreased to $50‚000 in the second year because business has gone down due to earthquake. They had received a dividend which from last year profit. After that‚ they restructured business as a trading trust. They then entered into an employment contract with the
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entries in WorldCom’s accounting records diminish Myers’ responsibility for his improper conduct? A1. I think Myers’ conduct towards in his professions should not be affected by anyone‚ even though making false accounting entries was Mr. Sullivan’s behest. Despite other factors‚ as a financial controller‚ integrity should plays as one of the most vital roles under any circumstance when making decisions. In this case‚ I think the real motivation that Myers agreed to improperly reclassify some huge expenses
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The first law of thermodynamics states that a certain energy balance will hold when a system undergoes a change of state or a thermodynamic process. But it does not indicate whether that change of state or the process is at all feasible or not. It is the second law of thermodynamics which provides the criterion as to the probability of various processes through the statements of Clausius that ‘’Heat does not pass from a body at low temperature to one at high temperature without an accompanying change
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What is Second Life? Virtual Second life Benefits in Shell. Second Life is an online 3D virtual world‚ established by Linden Lab from California it was launched on June 23‚ 2003. Over the years Second Life has over 1.5 million users. Anyone can visit and login free to Second Life and create their personas (avatar). Second Life gives companies options to create virtual workplaces to allow employees to virtually meet‚ hold an event‚ practice any kind of communications‚ conduct training in 3D virtual
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balance by1 November." Later that day‚ Buyer mailed Seller a $5000 cheque. The next night‚ at Buyer ’s 18th birthday party‚ Buyer discussed the deal with Investor. After buying the van‚ Buyer planned to start a document courier service‚ and he had spent $1200 on business cards‚ flyers and a cellular phone. Buyer projected a profit of $50‚000 in the first year. Investor was impressed with Buyer ’s plans and agreed to loan Buyer $20‚000 to buy the van. On 25 October‚ Buyer called Seller to pick up
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Subject: Taxation Law & Practice 2 Lecturer: Brendan Pigott ASSIGNMENT -1 Dipak Prasad Chaulagain Student ID: 211895 FCT vs Applegate This is the case where Applegate fight with federal court asking he don’t want pay a taxes when he was not in Australia most of time in that year saying he was not in Australia for whole year so he cant pay taxes. On 8/11/71 he surrendered a lease on his flat‚ went to Villa for an indefinite term with his wife to set up a law firm there‚ a branch
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IMC Proposal: Second Cup Second cup was seen a popular coffee house for many Canadians‚ focusing on a comfortable and warm atmosphere for its customers to socialize with friends or catch up on some work. Known as one of the higher class coffee houses‚ Second Cup offers many specialty beverages and sweet treats‚ in addition to Wi-Fi access in all of their franchises. The purpose of selecting Second Cup for the IMC is because they have to some extent ‘dropped off the map’. This coffee house has for
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Residency Sections Detail Tax on Page 6-5 (2) Resident Test Worldwide Income 4 6-5 (3) Non-Resident Test Australia sources only 4‚5 6 (1) of ITAA 1936 TR 98/17 Determining Residency Status Four Tests: i. The Resides Test (Common Law test) ii. The Domicile Test (1st Statutory test) iii. The 183 day Test (2nd Statutory test) iv. The Superannuation Fund Test (3rd Statutory test) IN OUT IN OUT 6 7-9 10-13 14 14 3.0 Derivation of income (TIMING – WHEN??) Cash Basis
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