Tutorial 4 Bullet Point Summary Question 1-Income Derived from a Business Is the $10 000 cash rebate income under CB1 of the ITA 2007? CB1: * Income of a business is taxable unless it is of capital in nature * Capital Revenue Distinction Relevant Cases: * Wattie v CIR * Birkdale Service Station Ltd v CIR Facts to Consider: * No obligation to spend the rebate on anything in particular * Gas n Go already bound to an exclusive agreement with Caltex * Used to repaint
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Tax 2 Test 3 Multiple Choice Identify the choice that best completes the statement or answers the question. _D___ 1. Which of the following are organizations exempt under § 501(c)(3)? a. Girl Scouts of America. b. Washington and Lee University. c. Veterans of Foreign Wars (VFW). d. Only a. and b. are § 501(c)(3) organizations. e. All of the above are § 501(c)(3) organizations. __D__ 2. Which of the following is a requirement for exempt status? a. The organization does not exert
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Executive Summary This memorandum is intended to communicate the deferred tax issues of Lucent Technologies Inc. on the basis of analysis of the veracity of the situation according to the reporting framework’s guidelines to anticipate unfavorable implications that had been resulted due to poor performance of the company over the past years. The Financial Accounting Standards Board (FASB) is the recognized body for making pronouncements as Generally Accepted Accounting Principles (GAAPs) in the
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CHAPTER ONE 1.1 INTRODUCTION The interest in poultry and poultry products have grown tremendously in the last 20 years faster than other food-producing animal industries on how the bird products are produced‚ processed‚ consumed and marketed. Almost every country in the world has a poultry industry of some kind. The biggest challenge of commercial poultry production is the availability of good quality feed on sustainable basis at stable prices. In spite of this challenge‚ commercial poultry production
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20th century that it became commonplace in the majority of the world.[2] The British Statute of Anne (1710) and the Statute of Monopolies (1624) are now seen as the origins of copyright and patent lawrespectively.[3] Contents [hide] * 1 History * 2 Types * 2.1 Patents * 2.2 Copyright * 2.3 Industrial design rights * 2.4 Trademarks * 2.5 Trade dress * 2.6 Trade secrets * 3 Objectives * 3.1 Financial incentive * 3.2 Economic growth
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positive change of things in the life of the people‚ both the rich‚ average and poor. Then such a society would be regarded as developed. For example the living conditions of the USA. Nigeria the most populated country in Africa filled with its endowed natural resources‚ and according to the “united nations statistics Nigeria is the 8th most populous county in the world with a population of 2.3%” (UN 2011).but the country still suffers the decay of underdevelopment due to certain avoidable factors that
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The demand for no taxation without representation was the primary force motivating the American revolutionary movement‚ and for many it became a symbol for democracy. Throughout the late 18th century‚ the British colony of America was oppressed by Parliament from "across the pond". This oppression included unequal rights compared to English citizens that lived on the mainland‚ unneeded taxation‚ and no representation in Parliament‚ which resulted in many laws that were unfavorable to the American
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TAXATION LAW & PRACTICE EXAM NOTES 2011 |PAGE INDEX | |Income |- Source |Page 3 | | |- Residency |Page 4 | | |- Dual Residents
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layers presents a significant challenge for the development of education management information systems in Nigeria and‚ in common with other developing countries‚ there are issues of capacity and commitment. Structures and responsibilities for EMIS are complex‚ reflecting historical developments and more recent imperatives. Education Management Information System: A Short Case Study of Nigeria October 2006 WORKING PAPER NO. 5‚ 2006 About infoDev’s working papers series: These short papers represent
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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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