Department of Business Law and Taxation BTC3150 Taxation Law Semester One 2011 Case Study / Assignment 1. IMPORTANT PRELIMINARY INFORMATION This section must be read in conjunction with the case study / assignment assessment details in the Unit Guide. Detailed below is a summary of selected key points. Assessment This assignment must be completed on an individual basis‚ or alternatively in a group of up to three students. Your (or your group’s) submission will be marked out of
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ordinary income. But the case was decided on a 3-2 majority of the High Court that the receipt was ordinary income. FCT v Harris‚ Periodicity‚ recurrence and regularity Ex-gratia payment (voluntary) made to a retired bank manager to offset the effects of inflation
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Australian Tax Law BFA714 – Exempt Income BFA714_10 What is income? 2 Key Legislative Provisions ITAA97 • Economist View – Division 6: • • • • • – Traditional economic view of income is that it is a ‘gain’ • Recognises both realised and unrealised gains as income s 6-5 Ordinary income s 6-10 Statutory income s 6-15 Not assessable income s 6-20 Exempt income s 6-23 Non-assessable non-exempt income – Other Relevant Divisions: • • • • • Tax View • Only
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18 March 2013 Sin Tax Bill: Dashing Expectations How good does the decrease of the number of smokers in the Philippines sound? Moreover‚ wouldn’t an increase in the government’s health care revenue be pleasing to hear? The Sin Tax Bill‚ now signed into law‚ aims to promote health by discouraging vice whilst raising additional revenues for the government’s Universal Health Care Program. It aims to do so by increasing taxes in so-called sin products such as alcohol and cigarettes. The largest percent
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words · There are laws and rules that need to be followed to safeguard children online. · Research these rules/laws and put them in your paper. · Describe how these rules/laws can help. · If you do not think the rules/laws are adequate‚ try and come up with some more safeguards. Question #4 - 300 words · Research sales tax laws in Michigan‚ Texas‚ Ohio‚ New Jersey and California. · Discuss what the sales tax rules are in these states
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Formation of Contracts Introduction An offer is the first step in the formation of a contract. It is something that creates a power of acceptance. It is a proposal made by one party to another to enter into a legally binding agreement with her. In Acme Grain Co. v. Wenaus‚ 1917‚ it was observed: ... To constitute a contract‚ there must be an offer by one person to another and an acceptance of that offer by the person to whom it is made. A mere statement of a person’s intention‚ or a declaration
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EXCISE TAX ON ALCOHOL AND TOBACCO PRODUCTS BY AMENDING SECTIONS 141‚ 142‚ 143‚ 144‚ 145‚ 8‚ 131 AND 288 OF REPUBLIC ACT NO. 8424. OTHERWISE KNOWN AS THE NATIONAL INTERNAL REVENUE CODE OF 1997‚ AS AMENDED BY REPUBLIC ACT NO. 9334‚ AND FOR OTHER PURPOSES Commonly known as SIN TAX REFORM ACT OF 2012 “Stick to One” OVERVIEW Sin Tax is a tax levied on products or activities‚ which are considered sinful or harmful and considered as objects of social disapproval‚ such as liquor and tobacco. Sin tax
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Entrepreneurship Law Final Exam 1. Who owns the CadWatt Solar cell technology? What rights‚ if any can SSC claim on it? SSC owned the technology‚ because the invention related to the SSC’s business and he had used some of SSC’s resources (namely‚ his SSC computer and SSC training sessions) when developing it. 2. What can Pierre do to make his departure from SSC amicable? Should he have left sooner? What ongoing obligations does he have to SSC? Pierre should consider returning
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Sin Tax Bill (Commentary)- This is a reaction paper on the approval of the Sin Tax Bill I am so glad of the very purpose of passing the sin tax bill which is to protect the health and save the lives of the countrymen. This simply means that the government officials are concern about the good health of all Filipinos but this doesn’t mean that I am into this bill; for some reasons that the government or most of the senate themselves failed to look unto. Firstly‚ I would like to agree with
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Tax Law Exam L. 2 Jurisdiction To Tax Basic Formula: S4-10 -Tax Payable = (Taxable Income x Tax rate) - Tax Offsets Taxable Year: 1 July – 30 June (note: s4-10 Note 1 – Commissioner may allow to adopt different period Taxable Income S4-15 – Taxable Income= Assessable Income – Deductions Assessable Income S6-1 – Assessable Income= • Ordinary Income S6-5 AND • Statutory Income s6-10 BUT NOT • Exempt Income s6-15 Deductions General Deductions -s8-1 Specific Deductions
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