Preview

2014 Exam Notes

Powerful Essays
Open Document
Open Document
28785 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
2014 Exam Notes
BLAW30002
TAXATION LAW 1

Elyssa Ho
Semester 2, 2014

BLAW30002
EXAM NOTES
2014 Exam Structure
1. Question 1 – Residency
a. 20 minutes
2. Question 2 – FBT Consequences + Calculate the FBT liability (if applicable)
a. 48 minutes
3. Question 3 – Income Tax Consequences
a. 51 minutes
b. 4 parts
i. 25 mins + 8 mins + 8 mins + 8 mins

Table of Contents
Residency ................................................................................................................................................ 2
FBT Consequences / Calculate the FBT Liability ..................................................................................... 6
Otherwise deductible rule ............................................................................................................... 17
GST .................................................................................................................................................... 20
Income Tax Consequences.................................................................................................................... 26
Ordinary Income............................................................................................................................... 26
STATUTORY INCOME ........................................................................................................................ 29
NON-ASSESSABLE INCOME .............................................................................................................. 29
INCOME FROM SERVICES ................................................................................................................. 30
INCOME FROM BUSINESS ................................................................................................................ 38
PROFIT-MAKING TRANSACTIONS OUTSIDE THE ORDINARY COURSE OF BUSINESS ............. 45
INCOME FROM PROPERTY ...............................................................................................................

You May Also Find These Documents Helpful

  • Powerful Essays

    Minimam Tax Case Study

    • 4464 Words
    • 18 Pages

    The relevant issues are the tax consequences of each of the two proposed transactions for…

    • 4464 Words
    • 18 Pages
    Powerful Essays
  • Satisfactory Essays

    Acc 673 Final Exam

    • 2397 Words
    • 10 Pages

    The Baloney Co. is a Canadian controlled private corporation. The company reports the following information for its December 31, 2010 fiscal year-end:…

    • 2397 Words
    • 10 Pages
    Satisfactory Essays
  • Powerful Essays

    CTP13 Chapter 01

    • 1529 Words
    • 22 Pages

    Individual with Taxable Income of $20,000 – Federal Tax - @ 15% – Provincial Tax (Assumed) - @ 7% – Total Copyright © 2014, Clarence Byrd Inc. $3,000 1,400 $4,400 5 Canadian Tax Principles Federal/Provincial System • Public Corporation With Taxable Income of $100,000 – Federal Tax - @ 15% – Provincial Tax (Assumed) - @ 11% – Total Copyright © 2014, Clarence Byrd Inc. $15,000 11,000 $26,600 6 Canadian Tax Principles Economic Objectives • Resource Allocation • Distribution Effects • Stabilization Effects • Fiscal Federalism Copyright © 2014, Clarence Byrd Inc. 7 Canadian Tax Principles Taxation And Income Levels • Progressive Systems • Regressive Systems…

    • 1529 Words
    • 22 Pages
    Powerful Essays
  • Powerful Essays

    NT1210 Final Exam Notes

    • 1243 Words
    • 5 Pages

    Essentially, link refers to any cable between two devices, and node refers to any device.…

    • 1243 Words
    • 5 Pages
    Powerful Essays
  • Powerful Essays

    Question/ Problem 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26…

    • 6008 Words
    • 25 Pages
    Powerful Essays
  • Satisfactory Essays

    Course Notes

    • 898 Words
    • 4 Pages

    1. The transfer of tissue or an organ between two people who are not related is called?…

    • 898 Words
    • 4 Pages
    Satisfactory Essays
  • Good Essays

    Chicago Style- 1920’s, faster, more intense, featured solos, 2/4 rhythm, instruments now included: guitar, sax, string bass…

    • 1250 Words
    • 5 Pages
    Good Essays
  • Satisfactory Essays

    Exam 1 Essay Notes

    • 260 Words
    • 2 Pages

    In what ways did the New England economy and government differ from those in the Chesapeake colonies?…

    • 260 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    2nd exam notes

    • 754 Words
    • 3 Pages

    Appeals must be filed within a timely manor, no set time because various jurisdictions have different times…

    • 754 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    study notes

    • 262 Words
    • 2 Pages

    Match the definition to the term. 1. suggested meaning of a word; differs from lexical meaning significs 2. examines the influence of words and their meanings on human behavior linguistic semantics 3. deals with the meanings of words as they occur in the language structure connotation 4.…

    • 262 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    Course Notes

    • 1999 Words
    • 8 Pages

    Choosing one of the case studies that you developed within your group during the class. Explain the cause of the person’s symptoms and construct a hypnoanalysis treatment plan and required outcome.…

    • 1999 Words
    • 8 Pages
    Powerful Essays
  • Powerful Essays

    Course outline

    • 3432 Words
    • 14 Pages

    1 TABL2751 – Business Taxation TABL2751 BUSINESS TAXATION (Taught concurrently with LAWS3147 – Elements of Income Tax Law) Course Outline Semester 1, 2014 Part A: Course-Specific Information Please consult Part B for key information on ASB policies (including those on plagiarism and special consideration), student responsibilities and student support services. Australian School of Business Taxation and Business Law 2 TABL2751 – Business Taxation Table of Contents 1 PART A: COURSE-SPECIFIC INFORMATION 1 1 STAFF CONTACT DETAILS 1 2 COURSEDETAILS 1 2.1 Teaching Times and Locations 1 2.2 Units of Credit 1 2.3 Summary of Course 1 2.4 Course Aims and Relationship to Other Courses 1 2.5 Student Learning Outcomes 2 3 LEARNING AND TEACHING ACTIVITIES 4 3.1 Approach to Learning and Teaching in the Course 4 3.2 Learning Activities and Teaching Strategies 4 4 ASSESSMENT 5 4.1 Formal Requirements 5 4.2 Assessment Details 5 4.2.1 Tutorial participation 5 4.2.2 Response to tutorial problems 6 4.2.3 Mid-semester exam 7…

    • 3432 Words
    • 14 Pages
    Powerful Essays
  • Good Essays

    Is the marginal social benefit of the activity greater than or equal to the marginal benefit to the individual? (1pt)…

    • 1577 Words
    • 7 Pages
    Good Essays
  • Powerful Essays

    Civil Disobedience

    • 2694 Words
    • 3 Pages

    you consider Thoreau’s arguments to be those of a traitor or those of a patriot?…

    • 2694 Words
    • 3 Pages
    Powerful Essays
  • Powerful Essays

    Ahmad, E. and N. Stern (1984), “The theory of tax reform and Indian indirect taxes,”…

    • 20968 Words
    • 84 Pages
    Powerful Essays