Task A – Short Answer Questions Ai: Imagine you are a newly appointed supervisor/manager within your service. You need to update your staff handbook to reflect current employment law. Identify three different sources of information you could use to enable you to do this. Colleagues Internet Home procedures Once you have identified a reliable source of information: Aii a) List three aspects of employment covered by law. 1. Hours 2. Wages 3. Work Conditions (safety‚ discrimination
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Jobless Claims in U.S. Drop to Three-Year Low Introduction The United States entered into recession in December 2007 when job losses began. The financial crisis is linked to reckless lending practices by financial institutions and the growing trend of securitization of real estate mortgages in the United States. The US mortgage-backed securities‚ which had risks that were hard to assess‚ were marketed around the world. A more broad based credit boom fed a global speculative bubble in real estate and
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[pic] GUIDE FOR INTERACTIVE FORMS BIR FORM NO. 1702: ANNUAL INCOME TAX RETURN FOR CORPORATION‚ PARTNERSHIP AND OTHER NON-INDIVIDUAL TAXPAYER |Script | |Open the form. | |For Form 1702: Annual Income Tax Return for Corporation‚ Partnership
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Citations: 106 S.Ct. 2092 Supreme Court of the United States Argued April 23‚ 1986.Decided June 3‚ 1986. Held: Respondent was entitled to claim the deductions in question. Pp. 2095-2100. (a) The “all events” test prescribed by the Treasury Regulations requires that before an expense can be regarded as “incurred” for federal income tax purposes‚ a liability must be fixed and absolute. Pp. 2096-2097. (d)
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Support: IRC Sec. 162 Treas. Reg. 1.162-2(a) Com. v. Lincoln Electric Co.‚ (1949‚ CA6) 38 AFTR 411‚ 176 F2d 815. Kurzet v. Comm.‚ 86 AFTR‚ 2d 5655. IRC Sec. 183 IRC Sec. 212 John J. Ballard‚ TCM 662 (1984). Analysis: IRC Sec. 162 allows the deduction of all ordinary and necessary
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acquired through induction or deduction. Induction involves reasoning from the particular to the general. E.g. Scientists may observe instances of a natural phenomenon and derive a general law (inductive). Newton’s Laws are an example of this as he produced laws that made sense of what he observed (observing behaviour of physical objects). Deduction involved reasoning from the general to the particular‚ starting with a theory and looking for instances to confirm this (deduction). Scientific knowledge
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Partners are taxed on their allocable share of income whether it is distributed or not. 5) Which of the following is an advantage of a sole proprietorship over other business forms? A. Ease of formation B. The deduction for compensation paid to the owner C. Tax-exempt treatment of fringe benefits D. Low tax rates on dividends 6) Which of the following statements is incorrect? A. S corporation losses can offset
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not have the character of income: For tax law purposes we need to distinguishing income and capital for several reasons: a) ordinary concepts notion of income does not include capital; [see below] b).general deductions [and some specific deductions‚ eg: repairs] specifically excludes deductions for capital outlays c) capital receipts may generate capital gains CGT; concessional tax treatment; the gain might be discounted by 50%. d) trust distribution of corpus [capital] is not assessable income •
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1. The assessability or otherwise to Jino and Anna of the annual bonuses paid by Darling Bank to them. Consideration of the proximity of services or employment relationship‚ the importance of the donor’s motive and the status of gratuitous payments are relevant in determining whether the bonuses received are assessable income. We can determine that the bonuses satisfactorily fulfil the requirement that for the bonuses to be assessable they must “come in”.(tenant v smith) Natural incidents of
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problems and has previously claimed the additional standard deduction available to blind taxpayers. This year‚ Larry was prescribed a new type of lens that vastly improved his vision. However‚ he began to suffer severe pain‚ infection‚ and ulcers from the lens‚ and had to remove the lens. The doctor said he could continue to wear the contact lens‚ but only for short time periods. The issue is if Larry is able to claim the additional standard deduction to blind taxpayers. The case at hand is Emanuel
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