The goal of report is going to analysis the facts and use appropriate information to conclude whether there has been a tax avoidance arrangement‚ and also to outline the effect on a taxpayer if the tax avoidance arrangement exists. In order to meet the goal‚ this report followed steps from Draft Interpretations Statement to prove my opinions. Law: BG 1‚ YA 1‚ GA 1 of Income tax 2007‚ Penny and Hooper v Commissioner of Inland Revenue (2011) 3 NZTR 21-014. Ben Nevis Forestry Ventures Ltd & Ors
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W22Extra: Tax and Gearing: More Questions Multiple Choice 1) Which of the following statements is false? A) In general‚ the gain to investors from the tax deductibility of interest payments is referred to as the interest tax shield. B) The interest tax shield is the additional amount that a firm would have paid in taxes if it did not have leverage. C) Because Corporations pay taxes on their profits after interest payments are deducted‚ interest expenses reduce the amount of corporate tax firms
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PERSONAL COPY/ NOT FOR SALE OR CIRCULATION (Session 2012-13) INTRODUCTION HISTORY OF INCOME-TAX: 1. India’ trust with income tax dates back to 1859 when James Wilson‚ Finance member in the Council of India‚ came to the country to establish the tax structure‚ a new paper currency and to remodel the finance system. 2. A bill imposing tax on profits from property‚ professions‚ trades and offices was passed by the Legislative Council of India. It received the assent of the Governor General on July
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In 2010‚ Labor Prime Minister Julia Gillard decided to implement carbon tax in order to gain more support in response to the change in climate (http://isen.northwestern.edu/doc/pdf/URG-ISEN_ALloyd.Jun12_ProjectSummary.pdf) and on the 8th of November 2011‚ the ‘Clean Energy Legislative Package’ is then passed by the Senate which sets out the way that Australia will introduce the carbon tax to reduce carbon pollution (http://www.deloitte.com/view/en_AU/au/services/assurance/accountingtechnical/wha
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Edinburgh Napier University/SCOPE of City U Hong Kong Taxation LECTURE 1: Salaries tax and salaries tax planning‚ Double taxation arrangement with Mainland China Outline |Salaries tax | |- |Scope of charge‚ format and presentation of salaries tax | |- |Locality of employment
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Growth This paper investigates the design of tax structures to promote economic growth. It suggests a “tax and growth” ranking of taxes‚ confirming results from earlier literature but providing a more detailed disaggregation of taxes. Corporate taxes are found to be most harmful for growth‚ followed by personal income taxes‚ and then consumption taxes. Recurrent taxes on immovable property appear to have the least impact. A revenue neutral growth-oriented tax reform would‚ therefore‚ be to shift part
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MEMORANDUM To: S. Partner‚ C.P.A. From: Nicole J. Badalamenti‚ J. Accountant Date: August 27‚ 2012 Subject: Mr. B. Potato I FACTS Mr. B. Potato‚ a wealthy real estate investor‚ recently purchased a house on a parcel of land for $400‚000. The house was appraised at a value of $300‚000 and the land had an appraised value of $100‚000. Mr. Potato plans to tear down the house and replace it with a new house worth $1‚500‚000 with the intentions of living in
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Morgan Gillespie Professor Carr English Composition 1 November 25‚ 2012 What are Poll Taxes? A poll tax is a tax that costs the same for everyone no matter what their income or property is. In the United States‚ a poll tax is used to refer to a sum of money that people were required to pay in order to vote. Poll taxes were levied by the governments of John of Gaunt in the fourteenth century‚ Charles II in the seventeenth and Margaret Thatcher in the twentieth century. Most couldn’t afford
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Tax file memorandum Subject: Profit or Loss from business I. Facts: In early 2010‚ Walter Hodges became interested in the real estate market so he initiated his investigation into the real estate market. Mr. Hodges intended to acquire real estate with the intentions for investment or rental. Mr. Hodge has no previous knowledge or exposure to any real estate rental or investment industry. As a result‚ Mr. Hodges began in Spring 2010 to advertise and expose his business through
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and levies. It seems that government might have to collect more money either through VAT (Value Added Tax) or from direct taxes. In Bangladesh VAT introduced in 1991 by replacing the sales taxes is still known as the vital reform in Bangladesh revenue structure. The remaining potential sector is the income taxes sharing almost all taxes coming through direct sources. Tax base is too narrow and the tax law is full of exemptions and allowances. Agriculture sector provides employment for around 60percent
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