Assessable income=ordinary income + statutory income. Ordinary income: income deriving from the courts (s6-5) Negative propositions: items that are not income by ordinary concepts: 1.Amounts not convertible into money :In Tennant v Smith (1892) free accommodation provided to a bank manager was held not to be ordinary income because building could not be sub-let and the benefit thereby converted to money. In FCT v Cooke & Sherden (1980) an incentive prize offered by a manufacturer was not income of the
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Seminar Report on: Problems and Prospects of Women Entrepreneurship in Beauty Parlour: A Study in Sylhet. Shahjalal University of Science & Technology Department of Business Administration Executive Summary Recognition of the need of women entrepreneurship has grown considerably in Bangladesh over the recent years. Because of the recognition‚ more supportive environment has been created for the women and more and
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the middle income group in their purchasing power. The housing price issue surely decreases the affordability of the middle income group to own a house. As we all noted‚ the salary of middle income group is neither too high nor too low. However‚ due to the increase in cost of living in Malaysia‚ the middle income group need to cover for many different expenses such as their daily needs and the child care. Hence‚ the increase in housing prices bring various problems
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SOCIO-ECONOMIC PROBLEM OF TAX AVOIDANCE AND EVASION IN NIGERIA: AN OVERVIEW Dominic Asada LL.B. (Hons.) B.L‚ LL.M. Tax Avoidance and Evasion are some of the most perplexing problems facing the nation today. It is widely believed that there is a considerable difference between estimated revenue from taxation every year and what is actually collected. This disturbing aversion to taxation has some historical antecedents. Traditionally‚ there has always been a hostile response to the payment of tax by the people
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ECONOMY OF NIGERIA Nigeria is a middle income‚ mixed economy and emerging market‚ with expanding financial‚ service‚ communications‚ and entertainment sectors. It is ranked 30th in the world in terms of GDP (PPP) as of 2011‚ and its emergent‚ though currently underperforming manufacturing sector is the third-largest on the continent‚ producing a large proportion of goods and services for the West African region. Previously hindered by years of mismanagement‚ economic reforms of the past decade
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work ACC 410 Week 1 Discussion Question 2 Audit Reports with the Analytical Procedures explanations and UDEN SUPPLY COMPANY Comparative Income Statement table in this file. Business - Accounting Analytical Procedures In a 2-3 page paper‚ complete the case below and submit to instructor. Review the income statement for Uden Supply Company and answer the following: Describe the purpose of analytical procedures performed in the planning stage of the audit. Uden Supply has projected
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CASE STUDY: ANALYSIS OF NIGERIA BOTTLING COMPANY VALUE CHAIN BOTTLER OF COCA COLA PRODUCT. Nigeria bottling company produce‚ sell and distribute a range of non-alcoholic beverages including four of the world’s best selling brands: Coca-Cola‚ Coca-Cola light‚ Fanta and Sprite. In addition‚ nbc product portfolio includes a variety of other sparkling and still beverages including: - fruit juice drinks - premium table water Nbc aim is to offer consumers
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9-793-035 REV: JULY 26‚ 2005 STEPHEN P. BRADLEY Crown Cork & Seal in 1989 John F. Connelly‚ Crown Cork & Seal’s ailing octogenarian chairman‚ stepped down and appointed his long-time disciple‚ William J. Avery‚ chief executive officer of the Philadelphia can manufacturer in May 1989. Avery had been president of Crown Cork & Seal since 1981‚ but had spent the duration of his career in Connelly’s shadow. As Crown’s new CEO‚ Avery planned to review Connelly’s long-followed strategy in light
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The problem with Fitzburg Tire company are that‚ the first‚ construction was already three months behind schedule. The second‚ costs were in excess of those projected. The third‚ the most of work completed in the last three weeks had to redone because it failed to meet specification. So he began to change his attitude and he began to blame Maxican works and supervisor‚ and everything Maxican. Regard to Max’s attitude is that he wants to see some visible progress made without hitches‚ without
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Tax Avoidance Analysis Tax Avoidance is a legally manipulation for the corporations to lower their tax bill by structuring transactions‚ is also called tax planning. Different with Tax Evasion‚ the Tax Evasion is Criminal and completely illegal. And in generally‚ company which have more profit should have higher tax rate‚ but with the growth of the company‚ many tax avoidance strategy were used by management as result of minimize the tax bills and also without obey the law‚ There are 3 strategies
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