LWB364 INTRODUCTION TO TAXATION LAW SEMESTER 1‚ 2011 LINA TERRESA BUI 1 Lina Terresa Bui RESIDENCE 2 Lina Terresa Bui STATE THE ISSUE The issue which arises on the facts is whether the [taxpayer] is a resident for tax purposes. BACKGROUND The general jurisdictional rules provide: Residents are assessed on their ordinary income and statutory income from all sources (ss 6-5(2)‚ 6-10(4) ITAA97) Foreign residents are assessed on their ordinary income and statutory income from
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Tiffany Escandon APUSH Zinn Chapter 9 Summary Period 8 ZINN CHAPTER 9: “Slavery without submission‚ emancipation without freedom” Zinn chapter 9 talks about slavery before and after the Civil War‚ it describes the United States Government’s support of slavery until Abraham Lincoln’s approach to end Slavery. It mentions how the slaves were kept into slavery by whipping‚ religion‚ separating families and even killing. There were many failed attempts to abolish slavery prior
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I. Background of the case Marie Luna is a human resource management major who graduated from the University if the Philippines in Iloilo City. She decided that she would really like to work in the business and see if she could learn the business and contribute to its success. Her Family owns Dependable cleaners (DC)‚ a laundry/ dry cleaning business. It provides laundry and dry cleaning services not only to residents and restaurant in the areas but to most of the casinos in
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A People’s History of the United States Chapter 9 Summary Chapter nine of Howard Zinn’s book explains slavery before and after the Civil War. The majority of the United States Government was in support of slavery until Abraham Lincoln publicized his support for the end of slavery. This chapter includes details of slavery from the accounts of different slaves and records kept about their oppression. Their servitude was preserved through the separation of their families‚ whipping‚ and killing.
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EXECUTIVE SUMMARY: Double taxation occurs when a taxpayer is taxed twice for the same asset or income. This happens when taxing jurisdictions overlap and a transaction‚ asset‚ or income amount is subject to taxation in both jurisdictions. When an individual must deal with double taxation‚ he or she may lose a significant portion of income. In some cases‚ this may cause the double-taxed individual to experience a lowered standard of living. Corporations deal with double taxation too‚ as a corporation
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Quiz Questions for Chapter 9 1. A truck was purchased for $25‚000. It has a six-year life and a $4‚000 salvage value. Using straight-line depreciation‚ what is the asset’s carrying value (book value) after 2 1/2 years? a. $8‚750. b. $12‚250. c. $14‚583. d. $16‚250. 2. On January 1‚ 2003‚ Superior Landscaping Company paid $17‚000 to buy a stump grinder. If Superior uses the grinder to remove 2‚500 stumps per year‚ it would have an estimated useful life of 10 years and a salvage value
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TAXATION AND FISCAL REGULATIONS IN NIGERIA INTRODUCTION The Nigerian Tax System has undergone significant changes in recent times. The Tax Laws are being reviewed with the aim of repelling obsolete provisions and simplifying the main ones. Under current Nigerian law‚ taxation is enforced by the 3 tiers of Government‚ i.e. Federal‚ State‚ and Local Government with each having its sphere clearly spelt out in the Taxes and Levies (approved list for Collection) Decree‚ 1998. Of importance at this juncture
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CHAPTER 9 Three conditions for a market to be perfectly competitive? Many buyers and sellers‚ with all firms selling identical products‚ and no barriers to new firms entering the market. In perfectly competitive markets‚ prices are determined by The interaction of market demand and supply because firms and consumers are price takers. Price taker Buyer or seller that is unable to affect the market price. A buyer or seller that takes the market price as given When are firms likely to be
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Chapter Thirteen The Federal Bureaucracy: Administering the Government Test Questions Multiple Choice 1. A principle of bureaucratic organization is (e) Hierarchical authority job specialization formalized rules both hierarchical authority and formalized rules 2. Compared to the president and Congress‚ the bureaucracy (C) has a more direct impact on the daily lives of Americans 3. Whenever Congress has a perceived need for ongoing control of an economic activity
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Table of Contents Chapter 1 1 Theoretical considerations about 1 taxes and fees 1 1.1. General Considerations about Taxes and Fees 1 1.2. Direct taxes 3 1.2.1. Profit Taxes 4 1.2.2. Salary (payroll) taxes 6 1.2.3. Dividend taxes 7 1.2.4. Local taxes 8 1.3. Indirect taxes 9 1.3.1. Value Added Tax 11 1.3.2. Duty 13 1.3.3. Excise 14 Chapter 2 – S.C. Sarten S.R.L. 16 Company presentation 16 2.1. Short history 16 2.2. Organizational
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