Historic Homes Vital for Community Culture

The Decision Of Brown V Fct
1762893 – Stephen Vincent, 0433 128 800
1200 – 1500 words
Brown v FCT (2002) 2002 ATC 4273 (12.30 tutorial Chris Gajic)
Key facts of the case
In Brown v FCT (2002) ATC 4273, Mr John Joseph Brown appealed the decision of Brown v FCT
(2001) ATC 4294, in which Judge Emmett J of the Full Federal Court, dismissed Brown's
application for appeal to the objection decision of Brown 's amended assessment of income tax for
the year ended 30 June 1991 by the Commissioner of Taxation (Brown v FC of T, 2002; Krever,
2014).
Brown, who at the time was the Minister for Tourism (Brown v FC of T, 2002), in 1990 introduced
the principals of Narui Norin (NN) to Mr Ray. NN was a Japanese development company looking to
purchase Australian land to develop and Ray was from the development firm Monacorp which
owned the undeveloped land in NSW (Brown v FC of T, 2002).
On 5 June 1990 the land was sold to NN. Brown helped Ray resolve an issue relating to NN and
some beachfront property on the land to be developed and also signed NN's application to the
Foreign Investment Review Board (FIRB) (Brown v FC of T, 2002).
An associate of Monacorp, Ray Development Corporation (RDC) developed townhouses at
Mermaid Beach to sell for a profit. Brown indicated that he wished to own one of these townhouses
(Brown v FC of T, 2002). On 12 July 1990 Brown received, signed and returned a facsimile with
letters attached to RDC authorizing Monacorp to pay RDC $1,000,000 commission for benefits
including a
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People's Lawyers, Crusaders For Justice In American History
T–00586085, University of Arkansas Clinton School of Public Service. Public service is the passion
of an individual or a community to contribute positive work with the goal of developing a
sustainable and meaningful service. An active public service community uses available resources
and their expertise of the human resources to create a lasting impact by identifying issues and
creating solutions for single or multiple communities according to their apparent needs. Public
service may be implemented physically, financially or by compensation with the intent of an
individual but rather the positive impact that it can have on society as a whole. In Public service for
one to come up with a positive and lasting impact on the community one has to have a passion or
commitment to whatever he/she does, for instance an example of a traffic police officer in Uganda
who stands in the scorching sun from morning to sunset not only to fulfill his obligation but also to
ensure that the people on the road have got to move or vehicles to move and the rate of accident
reduced. In the reading of People's Lawyers, Crusaders for Justice in American History by Diana
Klebanow and Franklin L. Jonas (p.261) we see the passion that this lawyer had for Public service
and his work where he took two weeks off from his law practice to assist Houston with the brief. His
passion was clearly seen when Houston returned Marshall's first draft with the notation "It needs to
be thoroughly

Crown Insurance Services Case Analysis
CLAW3201 Case Analysis
Introduction
In Crown Insurance Services Ltd v Commissioner of Taxation (Crown), the issues raised are
pertinent to the residence and source of the company under s6(1) of the Income Tax Assessment Act
1936. As cases are determined on the basis of all relevant facts and circumstances of each case, this
analysis will focus on how the court's decision process determined whether Crown had carried on
business in the years 2004–2007 inclusive and the existence of central management and control
(CM&C) in Australia. The purpose of this is to assess the valuation of Crown's taxable income,
which ultimately resulted in the objective decision to be set aside in favour of the applicant.
Evaluation will be made in regards ... Show more content on Helpwriting.net ...
Following from this, it is logical to assume that Mr Pattenden had dealt with the reception and
decision towards the valuation of claims while residing in Australia, as it would be extremely
unrealistic for him to travel to Vanuatu each and every single time he received a claim that needed
processing. When now compared to Malayan Shipping, Crown appears to possess much of the same
indicative facts that had caught Malayan Shipping as a resident of Australia. Mr Sleigh had similarly
made decisions relating to his business while in Australia and had drafted contracts that were then
intended to be signed outside of Australia. This was seen as the essential test confirming both
'carrying on business' and 'CM&C' in Australia. It is therefore possible to suggest that should
Crown be further tested in a higher court in the future, highlighting the case of Malayan Shipping
and focusing more on CM&C could potentially alter the case outcome.
Current state of law (200–250 words)
The law of Residence and Source within Australia has been both and unclear and problematic, thus
creating uncertainties that have recently been "magnified with factual application and technology
changes that allow remote management" (Dirkis 2005). Even cases as similar as

The Taxation System Between Australia And Bangladesh
Question:
Compare and contrast the taxation system between Australia and Bangladesh and discuss which
system is more effective. The essay should also emphasis on the effectiveness of double taxation
treaties of these two jurisdictions.
Answer:
Taxation is a scheme where one or more individual or a company or a group of companies or similar
legal entities paying certain amount of money from income, product or service to the government to
progress the country?s infrastructure. The intention of imposition of tax to the residents, either
individual or company, by the administration is to help government financially so that government
can pursue development task for the country. However, the amount of tax will always depend on the
financial stability of a country. To make the taxation scheme more effective, the taxation system and
its law necessity to be more effective. Depending on country?s circumstances, taxation system is
also very to one jurisdiction to another. However, in this essay, the discussion will focus on the two
jurisdictions namely Australia and Bangladesh and the discussion will concern specifically to the
function of the two authority to collect tax from two jurisdiction, different number using in two
different jurisdiction to identify taxpayer, sources of income tax between this two jurisdiction,
accounting system among them, the other sources (apart from income tax) of tax, the system to
bring action against the tax authority among the two jurisdiction and

Historic Homes Important For The Cultural Fabric Of The...
Introduction Not only are historic homes important for the cultural fabric of the community, they
also provide economic benefits. The adaptive reuse of existing structures is the greenest form of
building as it recycles all valuable parts, as opposed to the process of demolition and construction
that creates unnecessary waste and is more expensive. The preservation of existing structures within
historic districts provide a layer of protection for property values within the neighborhood. Through
the Mills Act, California has been successful in preserving the cultural fabric of communities,
preventing unsuitable alterations, and increasing the property value of neighborhoods. San Diego is
the leader in Mills Act contracts and has a documented history of its effects. With the proven success
of the Mills Act in San Diego, communities throughout various states can use the Mills Act as a
blueprint for a better preserved environment. Mills Act History The rezoning of Coronado Island in
1971 impacted the taxation of historical landmarks like the Hotel Del Coronado. In response,
Senator James Mills developed the Mills Act in 1972. The Mills Act allows local municipalities the
option of starting a historic designation program. Before his service as a senator, James Mills was
known in San Diego as a historian, author, and preservationist. A short year later, the Mills Act was
deemed unconstitutional by the State Board of Equalization. The Act was reviewed and reworked.
By 1978, the

Thesis on Capital Structure
CAPITAL STRUCTURE MANAGEMENT IN NEPAL (A CASE STUDY ON NABIL, NIBL,
NEA, NTC & HGICL) Table of Contents: Recommendation I Viva– Voce Sheet II Declaration III
Acknowledgement IV List of Figures V List of Tables VI Abbreviation VII CHAPTER I.
INTRODUCTION Pg No. 1. Background of the study 1 2. History of bank 5 3. Growth of industries
in Nepal 5 4. Statement of problem 7 5. Objectives of the study 8 6. Significance of the ... Show
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Environment encouraging the industrial growth is missing in the picture. The manufacturing sector
in Nepal is small contributing 8% of its share to the total G.D.P. It consists mainly of small
industries. Capital goods industries are few in number. Most of the sectors manufacture food even
though the structure is changing. This sector consists of five sub–sectors namely a. Food, Beverage
and Tobacco b. Textile and garment c. Chemical d. Mechanical Engineering e. Electrical and
Electronics The production growth has been significant in paper, food, footwear, iron and steel,
beverage and chemical industries. Fund is the most important criteria to operate any kind of business
or organization. It can be raised by two sources i.e. Equity Capital and Debt Capital. These two
sources of capital comprise the total capital structure. Capital Structure refers to the composition of
all source and amount of funds collected to use or invest in business. In other words Capital
structure refers to the capital and long–term liabilities of balance sheet. Therefore, it includes
shareholder's fund and long term loans. It is different from financial structure as financial structure
includes both long term and short term source of financing while capital structure includes only long
term source of financing. Thus, a firm's capital structure is only a part of its financial structure.

Tax Evasion
asionTHE 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 who viewed tax collectors as
a nuisance to the society. And for the few that paid tax, they did so with the greatest reluctance.
Even in the Bible, instances abound where the Jews treated the tax collectors with disdain and ...
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Duke of Westminster, Lord Tomlin observed in respect of T ax Avoidance that: "Everyman is
entitled, if he can to order his affairs so that the tax attaching under the appropriate Acts is less than
it other wise would be. If he succeeds in ordering them so as to secure this result, then however in
appropriate, the commissioner of Inland Revenue or his fellow tax payers may be of his ingenuity,
he cannot be .compelled to pay an increased tax".8 Thus in spite of the generally held opinion that
tax avoidance is unpatriotic and anti–social, it is clear that it is not a moral or legal issue unless the
legislature expressly prohibits it. Tax Evasion on the other hand is the deliberate refusal or failure to
pay one's tax or the reducti9n of ones tax liability through illegal or fraudulent returns or failure to
make a return or pay tax on time.9 Implicit in the definition is that Tax Evasion apart from being a
moral wrong also amounts to a breach of the tax law. Perhaps the distinction between Tax Avoidance
and Evasion will be better understood and appreciated from the vivid illustration of the Royal
Commission on "Taxation of profits and Income".10 The Commission distinguished as follows:
"The latter (that is evasion) denotes all those activities which are responsible for a person not paying
the tax that the existing law charges upon his income. Exhypothesis, he is in the wrong, though his

Case Study : Residence And Source
CASE STUDY 1: RESIDENCE AND SOURCE
Obtaining citizen of a country means enjoying all the facilities and exemptions provided by that
country. Each country has some kind of privileges, rights and facilities which the country born
individuals can only enjoy. People from outside country are debarred of those. However there are
many cases where many outsiders have to stay in a country for many years. This will put them to
many troubles as they do not have sufficient rights to enjoy. There long tern tenure may affect their
daily requirements and even financial constraints (Batrouney, 2005). Therefore governments of
different countries have made some standard rules and regulations for outsiders who used to spend
most of their time staying and ... Show more content on Helpwriting.net ...
They too have to take care of some of the responsibilities being allocated to them. A mutual
relationship starts between both the parties and both get benefited by it. The migration story of an
individual will become a dream come true.
Considering the case study of Kit, is a permanent resident of Australia, is also an example of people
who come from other country and get settled here (Batrouney, 2005). He was borned in Chile (a
country of America) and retains his Chilean citizenship. He was appointed by his company to work
in Australia since long. According to the terms and conditions provided by the Australian
government, Kit was able to get the permanent resident of Australia. He fulfils following conditions
made by the federal government to provide citizenship to the migrants. Those are,
The individual should be an adult which means he should be of 18 years age
Must have lived in Australia for about 4 years on the specified permanent residency visa (for years)
before applying for Australian citizenship
Within that 4 years of time that individual is allowed to live only for a year outside the country
Kit fulfils all the above criteria and thus is able to become a citizen of Australia. He also has his own
house there along with personal and spouse bank account. However he has duration of maintaining
this citizenship which could be of two categories,
Form 1300t Australian citizenship – General eligibility for applicants aged 18

Supply and Demand and Study Guide
ECO11 (ver8) MICROECONOMICS 1 STUDY GUIDE ECO11 MICROECONOMICS 1 STUDY
GUIDE © University of South Australia 2009 This work was printed from camera–ready copy
submitted by the Unit Coordinator. The Flexible Learning Centre of the University of South
Australia was not involved in its production. CONTENTS Contents 3 Introduction 5 An introduction
to the economic perspective 13 Demand and supply 17 Elasticity 21 Market applications 25 The
behaviour of firms and costs 31 Perfect competition 37 Monopoly 43 Monopolistic competition 47
Oligopoly 51 Economic performance, market failure and government intervention 55 Appendix:
Guide to working ... Show more content on Helpwriting.net ...
Economic ideas provide a conceptual framework for understanding the forces that shape our
personal and public lives. Economies (people!), faced with scarcities, have to make decisions about
the way resources are allocated. First, they have to decide what goods and services have to be made
and how they are to be made. Then they have to decide how much of each good and service to
produce as well as who receives the proceeds of production in what proportions. These inter–
connected allocation and distribution decisions must be resolved so that production and satisfaction
can simultaneously occur. The complex system of human values, shared beliefs and accepted
behaviour associated with the resolution of allocation and distribution decisions is known as an
economic system. Economic systems have varied from the traditional systems based on beliefs and
social hierarchies, to planned or command economics through to a mixture of market and planned
systems of production and exchange. Economic systems are judged in terms of their efficiency and
equity. Criticisms of planned systems invariably focus on aspects of inefficiency. Criticisms of
market behaviour are invariably driven by equity considerations. This unit does not examine
economic systems on the large scale (this is the area called macroeconomics) but rather,

Dividend Theories and Their Arguments
International Bulletin of Business Administration ISSN: 1451–243X Issue 9 (2010) © EuroJournals,
Inc. 2010 http://www.eurojournals.com
Dividend Policy: A Review of Theories and Empirical Evidence
Husam–Aldin Nizar Al–Malkawi Corresponding Author, Faculty of Business, ALHOSN University
P.O. Box 38772 – Abu Dhabi, UAE E–mail: h.almalkawi@alhosnu.ae Michael Rafferty Senior
Research Analyst, WRC, University of Sydney, Australia E–mail: m.rafferty@econ.usyd.edu.au
Rekha Pillai Faculty of Business, ALHOSN University, Abu Dhabi, UAE E–mail:
r.pillai@alhosnu.ae Abstract The literature on dividend policy has produced a large body of
theoretical and empirical research, especially following the publication of the dividend irrelevance
hypothesis ... Show more content on Helpwriting.net ...
The enduring nature and extensive range of the debate about dividend policy has spawned a vast
amount of literature that grows by the day. For this reason, a full review of all debates is not
feasible1. However, this paper endeavours to give justice to the importance of both the topic of
dividend policy as an area of financial economic research, and also to the literature that has been
produced addressing that topic, by reviewing the most important and influential studies in this area.
It attempts to outline the main theories and explanations of dividend policies and to review the main
empirical studies on corporate dividend policy. The remaining of this paper is organized as follows.
Section 2 gives a short background of corporate dividend policy. Section 3 analyses the theories of
dividend policy starting with the dividend irrelevance hypothesis of Miller and Modigliani, and then
the alternative hypotheses including bird–inthe–hand, tax–preference, clientele effects, signalling,
and agency costs hypotheses. Section 4 summarises the paper.
2. Background of Corporate Dividend Policy2
The issue of corporate dividends has a long history and, as Frankfurter and Wood (1997) observed,
is bound up with the development of the corporate form itself. Corporate dividends date back at
least to the early sixteenth century in Holland and Great Britain when the captains of sixteenth
century sailing ships started selling financial claims to investors, which

Piercing the Veil in Taxation Matters
Piercing the veil is one of the most discussed and litigated doctrines in all of corporate law. A
company has a corporate personality distinct from its members. From the juristic point of view, it is
a legal person distinct from its members. This is the principal laid down in Salomon v. Salomon
& co. ltd., (1897) A.C. 22].The courts did this to in relation to a one person member company.
The principal is commonly referred as "veil of incorporation" The courts were bound by these
principals but they realised exceptions to the rule. This happened due to human inventiveness which
started using the veil of corporate personality deliberately for fraud and improper conduct. The
courts started to lift the fictional veil between the company ... Show more content on
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These categories are probably not exhaustive. Under Indian Law,The Companies Act 1956 itself
provides provisions for the lifting of corporate veil.These generally are exceptions for the companies
to be regarded as a separate legal entity. The concept of limited liability ceases to exist and the
individual members/directors will be made liable for certain transactions. The statutory provisions
are as follows: 1. Reduction of membership below statutory minimum (Section 45): This section
provides that if the number of member of a company is reduced below 7 in the case of public
company or below 2 in the case of private company and the company continues to carry on the
business for more than 6 months, while the number is so reduced, every person who knows this fact
and is a member of the company is severally liable for the debts of the company contracted during
that time. 2. Improper use of name (Section 147): Under sub–section (4) of this section, an officer of
a company who signs any bill of exchange, hundi, promissory note, cheque wherein the name of the
company is not mentioned in the prescribed manner, such officer can be held personally liable to the
holder of the bill of exchange, hundi

The Taxation System Between Australia And Bangladesh And...
Question
Compare and contrast the taxation system between Australia and Bangladesh and discuss which
system is more effective. The essay should also focus on the effectiveness of double taxation treaties
of these two jurisdictions.
[Introduction]
The authority to collect tax is differ from one country to another and their jurisdictions and form of
function are also distinguishable. In Australia, the duty to collect revenue lays to the Australian
Taxation Office (ATO) along with other responsibility. The role of ATO is to organise and form the
tax and the system of superannuation. There are few more rules that have to practice by ATO which
includes executing the goods and services tax (GST) as an agent of the Australian states and
territories, operating some programs to ensure the transfer of revenue and benefit of that revenue is
properly distributed to the whole community, administrating the superannuation system of Australia,
managing and controlling of Australian business register. Nevertheless, the ATO derives from the
public authority, Performance and Accountability Act 2013 but the accountability is imposed by the
Public Service Act 1999. On the other hand, in Bangladesh, the tax administration is mainly
practiced by National Board of Revenue (NBR) which was established under the President?s Order
No 75 of 1972 and this board is working under the Internal Resources Division of the Ministry of
Finance. This NBR is responsible not only for collecting tax but also for

Legt2751 Notes for Midsem
ITAA97 = Income Tax Assessment Act 1997
ITAA36 = Income Tax Assessment Act 1936
TAA = Taxation Administration Act 1953
GST Act = A New Tax System (Goods and Services Tax) Act 1999
FBTAA = Fringe Benefits Tax Assessment Act 1986
Week 1 – INTRODUCTION TO TAXATION & THE AUSTRALIAN TAXATION SYSTEM
Taxes – compulsory, unrequited payments to general government. Collected for the provision of
social & merit goods.
1. Social goods – Joint consumption (use by 1 doesn't reduce others) & Non–excludable (can't
effectively exclude anyone from access to good). E.g. fresh air, street lighting, knowledge, open
source software.
2. Merit goods – provided on the basis of need and not ability to pay & positive externalities to
society as a whole. ... Show more content on Helpwriting.net ...
* Fixed vs. circulating capital – Memorex Pty Ltd v FCT – Non–current computer assets sold at the
end of lease = income not capital. * Sale of exclusive rights (patent/copyright) will be capital (but
not always!) Evans Medical Supplies (capital) vs. Rolls Royce (income). * Restrictive Covenant:
Agreement to not divulge information / not to work for competitor / not to operate in set radius etc.
* Can be capital or income, depends on length of restriction * Evans Medical Supplies v Moriarty –
medicine manufacturer taxpayer (who sold confidential information to government and got 100,000
pounds ) was receiving the amount as capital structure because it was out of ordinary business
transactions. * Rolls Royce Pty v Jeffrey – Technical knowledge and training was sold to different
countries to make engines. Regarded as income.
Gifts / Prizes – Mere gifts are not income * Hayes v FCT (1956) – Voluntary payment made by one
party to another was mere gift. Presumption will be that gift is not income (unless it relates to
income–making activity). * Scott (1966) – Gift made to solicitor by longstanding client.
Unexpected. Friendship. Scott adequately renumerated for services. Several other gifts also made.
Not ordinary income. * Stone v FCT 2003 – Stone was a police woman but also competed as a
javelin thrower for which she had

Income Tax Is The Most Significant Source Of Income
Income tax is the most significant source of income in Australia and is imposed at the federal level.
It is levied from three sources of the individuals: business income, capital gain and personal income.
The taxable income of an individual is assessed in calculated in an abroad sense after applying
allowable deductions against it. The report consists law relating to taxation applicability on funeral
income and trading stock. The applicable law has been explained and the relevant sections and case
law have also been discussed in the report. The connectivity between facts of questions and relevant
case laws has been included in the report for a better understanding.
Part A
Task (1)
Answer (a)
Facts of the case: The fee received by RIP Ltd. is payable under 30 days invoice and the income
through RIP Finance Pty Ltd who provide finance to the company is received under instalment
repayment plan. The other income is received through the funeral plan in which client make a timely
contribution to meet their funeral cost. In case the amount is not paid them time and completely, the
received amount is retained by the company.
Applicable Provisions:
As per section 6(5) of Income Tax assessment act, assessable income comprises income according to
ordinary concepts called ordinary income. In case a person is an Australian resident than the income
derived directly or indirectly from all the sources is included in assessable income (Barkoczy, 2016).
The facts of case Brent v FC of T71

What Income Is Assessable Under Capital Gain For Fred?
Table of Contents Question 1 .............................................................................................. Page no. 3
Question 2 .............................................................................................. Page no. 7
Reference ............................................................................................... Page no. 12
Question 1
Issue
What income is assessable under capital gain for Fred?
Law
Income Tax Assessment Act 1936
Discussion
Under section 6, a resident of the country is taxable for his incomes from all sources from all over
the world.
Capital gain is made on the capital assets which are sold for value more than the cost base of it as
per Section 104 (10). It means that for making capital gain a capital gain tax event has to happen.
Few capital assets are not taxable even when it makes a capital gain on incurring a capital gain tax
event. One of them is a resident property which is used completely for living in it by the taxpayer.
To calculate the capital gain, the most important part is the cost incurred in the asset. It is called cost
base of the asset. The components of it are the purchase price of the asset, any incidental costs in
putting the asset to work or bringing it to the site of work such as legal fees and stamp duty, other
costs incurred in purchasing the asset such as interest on borrowed funds, costs incurred in retaining
the asset in a workable position

tax notes
Contents
TAX LEG: ITAA1936 [eg. S6(1)], ITAA1997 [eg. S6–5], FBTAA 1986, GST Act 1999.
Topic 2 – Jurisdiction to Tax taxable payable
Tax Payable (s4–10 ITAA1997)= (Taxable income * Tax Rate) – Tax Offsets
(Tax/Financial Year = I July – 30 June) – Income tax payable on a year–by–year basis s3–5 ITAA97.
Taxable income (s 4–15 ITAA) = Assessable Income less Deductions
Assessable Income (s6–1) = Ordinary income (s6–5) and Statutory income (s6–10) but not Exempt
income (s6–15).
Assessable income includes (s6–1):
Residents: All ordinary income and statutory income of an Australian resident taxpayer derived
directly or indirectly from all sources, whether in or out of Australia, during the income year: s6–
5(2) & s6–10(4).
Foreign ... Show more content on Helpwriting.net ...
Not temporary or transitory.
Applegate(1979): Dates important. Less than 2yrs, but intended to be more than 2yrs –> overseas
abode sufficiently permanent, not temp/transitory.
Jenkins(1982): Overseas for a fixed 3yr period, but maintained a house in Aus. Place of abode
overseas (3yrs) permanent enough.
Factors to be taken into account (IT 2650) [public ruling] in determining whether there is permanent
place of abode outside Aus.
Intended and actual stay in foreign country.
Duration and continuity of taxpayer's presence in overseas country (2yrs substantial – guide in
ruling).
Establishment of a home outside Aus (fixed, more than temp accommodation – eg. Hotels not
enough).
Residence or place of abode in Aus.
The durability of the association with Aus (maintenance of bank a/c, education of children, family
ties, notifying govt depts).
183 day test (generally incoming individuals)
In TR 98/17, the Commissioner confirms that the ORT is the primary test of residency under
legislation. 183 day test considered for completeness as it is not certain that TP is resident.
S6(1)(a)(ii): Taxpayer will be treated as a resident if they have been here for 183days or more ,
continuously or intermittently, unless the commissioner is satisfied that:
The person's usual place of abode is outside Aus AND

The person does not intend to take up residence in Aus.
Usual place of abode – place you live on a day–to–day basis.
In TR 98/17, the Commissioner

Assessable Pay Dbq
Question (2)
Under the Income Tax Assessment Act 1997, S 6–5(1), assessable salary incorporates common
income and statutory income (S 6–10). Assessable salary is comprised of two incomes, which are;
(1) Amounts which are "pay" inside of the standard importance of that word; and (2) Amounts
which aren't usually considered as salary, however which Tax Law says will be burdened as though
the sum is pay (statutory income). Section 6–10 states that a man's assessable pay additionally
incorporates different sums (that are not common salary) but rather which are "incorporated in your
assessable income by procurements about assessable pay." In the Tax Law, this is called "statutory
wage." Pay is sorted into three wide criteria: (1) Income from individual administrations and work
(compensation). (2) Income from business (exclusive business). (3) Income from property.
Question 2 (a) ... Show more content on Helpwriting.net ...
Also, the stream of pay is thought to be normal as we see in the case FCT v Blake where the Court
maintained that the receipts were of standard nature and subsequently, assessable salary under ITAA
1936. In the same decision, the Judge additionally decided that the instalments and advantages
emerged from, in admiration of, or regarding business. Hence, there is clear nexus between
additions got and a procuring source. The idea of stream can be comprehended as far as foods grown
from the ground as explained by US Court Judge in case of Eisner v Macomber where the Judge
gave a fanciful allegory of leafy foods and its portrayal of salary and capital. Given the above
supports, it can be said that pay and reward of $50,000 and $10,000 separately satisfies the
requirements of standard salary and henceforth go under assessable

Social Work Case Study Health And Social Care
Q1. Introduction
In 2012, Samantha an executive in the finance company was asked by the company to help assist in
opening a new branch in Singapore. Samantha and her husband relocated to Singapore in January
2013 to establish the new company branch. Her two children aged between 18th and 21th remained
living in Melbourne at the family house.
Samantha and her husband planned to remain in Singapore until the branch was properly settled
which they roughly anticipated around three to four years. While living in Singapore they leased an
apartment for four years and her husband acquired an employment. During their period of stay in
Singapore, Samantha and her husband returned to Melbourne in January 2014 for a month to see
their children and visit the head office.
At the end of two years, the ... Show more content on Helpwriting.net ...
To help identifying the issues in this case, it needs to look at Samantha living arrangement and any
relevant information from 2013 to 2015 which are:
She started living in Singapore from January 2013 to the end of December 2013.
In January 2014, she went back to Melbourne for a month to visit her children and head office.
At the end of second years, she left Singapore and went to Europe for holiday before returning back
to Melbourne in July 2015.
During her length of stay in Singapore she still held investments in both countries under her name,
although she closed her bank accounts in Australia and opened a bank account in Singapore.
Relevant legislation and cases
The issue in Samantha case, whether she is an Australian resident for the period of January 2013
until her return in July 2015 required the interpretation of residency definition and any relevant
cases that may assist such as Applegate v FCT (1979) and Jenkins v FCT

Case Study Of DPT
However, as law evolves so do businesses where they use an alternative method known as diverted
tax profit, DPT. It has a similar structure or process of transfer pricing, instead engaging with their
subsidiary companies, it is accomplished through an agreement with a foreign entity that resides in a
country. Thus, in Australia, the parliament enforced a new Tax Law Amendment (Combating
Multinational Tax Avoidance) Act 2017, No 52, which targets specifically on DPT that supplements
to Multinational Anti–Avoidance Law (MAAL). According to Les Nielson (2016) of the parliament,
the new law commenced on 1 July 2017, that imposing tax rate 40% instead of 30% corporate tax
rate to multinational companies that generate a global revenue of $1 ... Show more content on
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Part IVA s 177J will look at the scheme and clearly indicates some evidence that Apple Australia and
Apple Sales International in Ireland are colluding to obtain a tax benefit by reducing tax liability in
Australia and gain a tax benefit in Ireland. Further information regarding tax benefit will be
mentioned under the exemption. In order for Apple to receive an exemption it has to satisfy one or
more of the 3 tests which are:
1. $25 million income test (s 177K)
2. Sufficient foreign tax test (s 177L)
3. Sufficient economic substance test (s 177M) (Parliament of Australia, 2017)
It is evident that Apple does not satisfy s 177K since according to the Financial Review analysis
estimated that Apple's Australia paid Apple Sales International in Ireland $7.2 billion profits in the
span of 4 years (Chenoweth, 2014). It may lack detailed evidence of a specific year but $7.2 billion
is a large amount for a company especially across 4 years. The next tests would be s 177L, where it
evaluates the tax liability by comparing the taxpayer reduced tax liability in foreign law and
Australia law. If the tax liability reduction is more than 20% compared to Australia then the test
fails. It is apparent Apple has failed this test seeing as they only had to pay corporate tax rate of
0.005% in 2014 which far inferior than 80% of

Taxation Advantages of Converting a Hobby Into a Business
Distinguishing a Business from a Hobby Activities are classified in terms of a business or a hobby
and it is important that the two are separated. The difference depends on whether the activity is
being carried for tax purposes or not. It is of great importance for the taxpayer to take into a
consideration whether an activity they are involved in is for commercial purposes or whether it is
situated in an environment suitable for carrying out business. Individuals have different professions
which they actively do and devote much of their time and resources in doing which generate some
taxable income. Engaging in another activity on the side whether in a small scale but with a profit
motive or with an intension that profits will be generate from such an activity qualifies it as a
business (Braedon Clark DR, 2004). It is therefore important for a taxpayer to consider their
intensions before being able to get into an activity and make any commitments in terms of
investments. It is their intensions that will differentiate whether such an engagement will be
considered as a hobby or business. A tax payer should be at a position to make a sound decision
based on the ATO guidelines, that in order to qualify an activity as a business, the investor should
have been driven by a profit motive, that from such an investment he/she expects to profit out of the
investment or profits are expected at a later date in future. In certain situations where the taxpayers
activity is sustained by

A Resident Of Australia And How His Salary And Investment...
Case study 1: Residence and source
Discuss whether Kit is a resident of Australia and how his salary and investment income would be
taxed (10 marks, max. 1000 words).
Answer–
In order to determine whether Kit is a resident of Australia for taxation purposes, it is important to
understand the process of evaluation of residency of the individual. The Australian taxation law has
conceived certain methods that can determine whether the income generated by an individual either
in Australia or worldwide must be taxed. There are four such circumstances that can help in
determining Kit's residency. Referred to as "Tests" the circumstances are explained below–
 Resides Test– If an individual is a 'permanent resident' of Australia, and then he ... Show more
content on Helpwriting.net ...
This test also explains that if an individual has made another country his/her home then he/she will
not be considered as an Australian resident for tax purposes.
 183 Day Test– this test explains that an individual must be considered as an Australian resident if
he/she has stayed continuously or intermittently for more than half a year of his/her income. The
only exception to this test is based on the commissioner of The Australian Taxation office, if the
commissioner agrees that the individual has his permanent abode in another country and has no
interest in taking up permanent residency in Australian.
 Commonwealth Superannuation Test – for an individual to be declared as an Australian resident
for tax purposes under this test, he/she has to be a member of a superannuation scheme which is
established under the Superannuation act of 1990 and the individual is determined as an employee
eligible for the purpose of receiving superannuation guarantee from its employer based on the
superannuation act of 1976.
Based on the definition of tests and according to the facts mentioned below, it could be clearly
understood that Kit is a resident of Australia for taxation purposed based on his fulfilment of the
conditions mentioned in the "Resides Test" and the concluding case studies as evidence of the same.
 His family resides in Australia where he owns a home

Security Risk Management Plan Essay
SECURITY RISK MANAGEMENT PLAN
Prepared by Jeremy Davis
Version control
Project title | Security Risk Management Plan Draft | Author | Jeremy Davis | VC | 1.0 | Date |
25/10/10 |
Contents Executive summary 4 Project purpose 5 Scope of Risk management 5 Context and
background 5 Assumptions 5 Constraints 5 Legislation/Standards/Policies 6 Risk management 6
Identification of risk 7 Analysis of risk 8 Risk Category 9 Review of Matrix 9 Action plan 9 Testing
Procedures 11 Maintenance 11 Scheduling 11 Implementation 12 Training 12 Milestones 12
Monitoring and review 13 Definition 13 Authorisation 14 Reference 15
Executive summary
A Security Risk Management Plan (SRMP) helps CBS ... Show more content on Helpwriting.net ...
This is achieved through the assessment of the business, operations, staff, assets, risks, legislations,
standards and policies.
Context and background
Definition of Risk management
The analysing of risks and implementation of risk controls to minimise and prevent risks from
occurring to the business.
Assumptions
Assumptions must be identified that the business may be working to understand and gather more
information. Assumptions are what the project team have expected to have or be made available
throughout the program. * SMRP approved * SMRP implemented strategies are tested and is
successful * SMRP meets requirements
Constraints

Constraints are usually a list in which provides the limitations and restrictions that the project team
may encounter. * Budget issues * Must check if plan meets legislations, standards and policies *
Approval of Security risk management plan may delay * Implementation of strategies
Legislation/Standards/Policies
When considering risk management, you must state legal and regulatory framework. You must
identify in order to follow and meet the requirements for the Security Risk Management Plan
* 'Australian /New Zealand Risk Management 4360 1999' * Standard ISO/IEC 27002 Information
technology – Code of practice for information security management * Standard ISO/IEC 27004
Information technology – Information

Case Study Of News Australia Holdings Pty Ltd V FCA
News Australia Holdings Pty Ltd v FCA
Case details:
Between– NEWS AUSTRALIA HOLDINGS PTY LTD (APPLICANT) and COMMISSIONER OF
TAXATION (RESPONDENT)
Judge– PAGONE J
Date of order– 8 JUNE 2017
Conclusion– The application be dismissed.
Case background & Reasoning behind Judgement:
The appeal is whether SRC Holdings Limited derived interest income due to it from News Limited
during the year of income ended 30 June 2010. This is in the context of controlled foreign
corporation provisions– Income Tax Assessment Act 1936.
The applicant, News Australia Holdings Pty Lt, was the provisional head company of a multiple
entry consolidated group which included News Limited and SRC; Thus, the interest income will be
assessable to the applicant in this proceeding.
... Show more content on Helpwriting.net ...
News Australia Holdings Pty Ltd) was to be evaluated on SRC's interest income which accrued in
2010.
Interest income of US$66,023,141 (~A$75,028,696) accrued to SRC as a debt in 2010 of income
under the terms of a loan agreement on 28th April 2006 between News Limited and SRC (i.e. the
News loan agreement); This interest was not paid until 2011 year of income on 2nd July 2010, and
on 8th July 2010; SRC compensated Australian withholding tax of A$7,502,870 in respect of this

Photography Is Just A Hobby Or A Business?
Part A
ISSUE
The issue raised by the question are; Whether Michael's passion for photography is just a hobby or a
business? Whether the amount received from in taking photography classes is assessable income or
not?
RELEVANT LAWS
Under the s 6 – 1 (1) of Income Tax Assessment Act 1997 (ITAA97) (Cth), assessable income
includes both ordinary income and statutory income. Ordinary income can be defined as income
derived from ordinary concepts (s 6 –5 (1) ITAA97). The common forms of ordinary income
include salary, wages, rental income, royalties, dividends and interest payment. To decide if the
income is assessable or non–assessable income, the courts has derived the factors to categorize the
income by principles as follows:
The amount must be convertible into money,
The form of the receipt is whether regular gains or periodic,
Whether the payment is the product of any employment, services or any business, and
Must be derived.
Under the s 6(1) ITAA36 & s 995–1(1) ITAA97, 'Business can be defined as any profession, trade,
employment, vocation, but does not include occupation as an employee'. The court refer to certain
factors while identifying a business, such as; if the tax payer's activity is characterised by system
and organisation , the scale of the tax payer's activity, regularity and repetition of the transactions,
commercial character of the transaction and so on.
In general sense, hobby is an activity or an interest of a person to follow one's passion for

Assessment 1 of Blo2206 Taxation Law and Practice
Assessment 1 of BLO2206 Taxation Law and Practice
Topic:Distinguishing a hobby from a business, explaining how legislation and case laws determines
whether an activity is a business or hobby. Further to make a comment on the impact of a
determination by the ATO on whether a taxpayer's activity is actually a business.
Distinguishing a Business from a Hobby
Activities are classified in terms of a business or a hobby and it is important that the two are
separated. The difference depends on whether the activity is being carried for tax purposes or not. It
is of great importance for the taxpayer to take into a consideration whether an activity they are
involved in is for commercial purposes or whether it is situated in an ... Show more content on
Helpwriting.net ...
On issues of assets which are owned by the taxpayer all the assets are taxable except the assets that
were acquired before the Capital Gains Act was included in the Australian Taxation Office's
constitution and the personal use assets that includes the taxpayer's house and other valuables.
The Leading cases
One of the leading cases was in the case between player and Ors versus FCT. In this case the
plaintiff filed a case for the court to find out if the deductions made were falling under section 51(1)
(b) of the Income Tax Assessment Act 1936 and also to determine if the tax benefits were obtained
by the applicants concerning their business as per the Act. The tribunal in charge of the case gave a
ruling in favor of the deductions and it was decided that the deductions were in order according to
the law.
The other case was FCT vs. Lenzo in the year 2008. Where the courts had allowed the
commissioners appeal from the decision under which it was held that pt IVA did not apply to the
deductions as claimed by the taxpayer in relation to his investment in a sandalwood plantation
project in Western Australia. The court had found out that in the previous decision much emphasis
was placed on the genuine commercial nature of the project and did not consider whether there was
a dominant purpose of obtaining a tax benefit. The court held that the structure of the scheme was
only to maximize and bring forward tax

Chapter 1 Understanding and Working with the Federal Tax...
CHAPTER 1 UNDERSTANDING AND WORKING WITH THE FEDERAL TAX LAW
SOLUTIONS TO PROBLEM MATERIALS
Question/ Problem 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26
Learning Objective LO 1 LO 2 LO 2 LO 2 LO 2 LO 2 LO 2 LO 2 LO 2 LO 2 LO 2 LO 2 LO 2 LO
2 LO 2 LO 2 LO 2 LO 2 LO 2 LO 2 LO 2 LO 2 LO 2 LO 2 LO 2 LO 3
Topic Revenue neutrality Controlling the economy Encouraging industries Research and
development expenditures Social considerations Earned income credit Charitable contributions
Fines and penalties Home ownership Higher education incentives Tax credit versus deduction
Alleviating the effect of multiple taxation Double taxation and effect of a credit versus a deduction
Wherewithal to pay concept: transfer to ... Show more content on Helpwriting.net ...
© 2012 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or
posted to a publicly accessible website, in whole or in part.
1–4
2012 Corporations Volume/Solutions Manual Est'd completion time 5 5 10 15 10 10 10 10 10 15

Communication Skills Of An Organization
ANS–1 (PART A)
For any particular event, the representatives of an organization have the tendency to face curb work
places of an assessment in appreciation of the 'flyer points ' which the employee acquires
occasionally from the organisation through the consumer loyalty program.
In the given case, Rosemary, who is a representative of Blanc Communication Pty Ltd, is dealing
with a compensation of $72000. Since Rosemary has adjusted to the work coniditions very well and
fitted into the environment of the organisation, she was given a chance very frequently to go abroad
beacause of which she acquired a great amount of 'flyer. All of the overseas travelling expenses were
overseen and paid by the organisation. From all her overseas travel, ... Show more content on
Helpwriting.net ...
This decision meant that the addition had two special cases in which the prizes under the consumer
loyalty of flights may not be covered under fringe benefit tax.
The first exception was that the expenses which were received from flights through different reward
points were subject to fringe benefit tax in the case of the individual having their own arrangement
and is employed by an organiastion and then the organistion has to provide the employee with flight
incentives inclusive of all the members of his family. Therefore, the fringe benefit tax is relevant in
cases where both the employee and the employer have a great connetion and in return, the flight
incentive is related to the employee's service. Considering the case of Payne (1996), the court
announced that the incentives received in a consumer loyalty program were not part of her
assessable income. This is because:
 The incentives do not constitute income according to ordinary concepts. Therefore, the flight
incentive was not 'money'.
 The incentives did not fall within section 26(e) of the Income Tax Assessment Act 1936.
The second exception is that the consumer loyalty and incentive program to the employee is
provided only after complete understanding which results from the expenditure of business. The
Australian Income Tax also issued a statement which assists the employer and the employee under
the consideration that 'flyer points' and other related

Foreign Direct Investment:: Country Risk Assessment of Spain
Table of Contents
Pages
A. Introduction 3
B. Political Indicators 4–11
C. Economic Indicators 12–18
D. Social Indicators 19–23
E. Overall County Total 24
F. Works Cited 25
A. Introcution Spain 's powerful world empire of the 16th and 17th centuries ultimately yielded
command of the seas to England. Subsequent failure to embrace the mercantile and industrial
revolutions caused the country to fall behind Britain, France, and Germany in economic and
political power. Spain remained neutral in World Wars I and II, but suffered through a devastating
Civil War (1936–39). In the second half of the 20th century, it has played a catch–up role in the
western ... Show more content on Helpwriting.net ...
3. Views of Political Leaders Current Rating: 2 Forecast 5 Years: 3
Jose Maria Anzar is Spain 's Prime Minister since 1996. He is part of the conservative People 's
Party. Since taking power, there wre many fears that government policies would become more strict
and secular–minded with Catholic traditionalism. Mr. Aznar has been straight, efficient, clear–
headed, honest. Building on foundations laid by his modernising Socialist predecessor, Felipe
Gonzalez, he has steadily freed Spain 's economy and overseen one of the fastest growth rates in the
EU. In Europe, his Spain is taken seriously; Mr. Aznar makes much of its new ascendancy in Latin
America, where it has overtaken the United States as the biggest investor. Mr. Aznar says Spain
deserves to join the G8 group of rich countries. One of his biggest downfalls though is his handlings
with the Basque community and popular rise. A big reason is that even the non–violent Basques are
a tricky lot, while the terrorists of ETA are militarily hard to beat because they have enough popular
support. Mr. Aznar has himself been obtuse, by unwisely alienating the majority of Basques who do
not back ETA. In order for the Basque to be truly independent, Spain 's constitution would have to

be ammended, the constitution that the Basque favored when voted. The Basque claim it was a
minority that voted in 1978. In any case, as an economist, Jose

Essay about Determining Assessable Income
Introduction.
Individuals thrive off producing income in order to meet their day–to–day needs and wants. Tax is
imposed on these income producing activities to provide the government revenue. This involves
identifying the various ranges of assessable income. The legal question which must be addressed is
any of the income that was earned by these individuals assessable income under the Australian
income tax assessment act? To answer this question, we must determine if a nexus exists between
Australia and the person(s) being taxed by applying the concepts of Residency, Source and
Derivation.
1. Residency.
Residency is important because it is the basis as to how the government will tax individuals.
S6–5(2) and s6–5(3) ITAA97 states ... Show more content on Helpwriting.net ...
In this case, the taxpayer was a Greek national resident in Australia employed by a Greek Press and
Information Service located in Sydney which was an instrumentality of the Greek Ministry of
Foreign Affairs. A position in Greece was applied for but was not appointed until after she had
migrated to Australia. She became a permanent public servant of the Greek Government upon taking
up the position and behaved as a consulate employee. Her income was subject to tax in Greece. The
Greek Government forwarded her salary to the Sydney office after deductions had been made for tax
and superannuation.
It was held by the court that according to s.23(q) of the Income Tax Assessment Act 1936 the
income of the taxpayer was derived from a source within Australia, as such, would be subject to
Australian taxation laws.
The taxpayer in this instance was sourcing income from Australia. The destination where payment
was originating from becomes unimportant. Regardless of the fact that the employing entity is, or is
not an Australia resident nor does it have to be situated in the same country. In contrast, it is where
the relevant work was performed that becomes the main focus to determine assessable income.
2.1.1.1 Income derived from work performed in Dubai.
Applying this reasoning to Melinda and Aaron, although the contract made with Jacobs, Sly &
Bennett was signed in Australia and payment of

Taxation
Taxation
Requirement 1 Part 1
(a) Explain what is meant by "income by ordinary concepts".
a) Ordinary income (s6–5) is an element of Assessable income. In the context of the Income Tax
Assessment Act 1936 and ITAA 1997 assessable income is made up of Ordinary Income and
Statutory Income. Assessable income includes income according to ordinary concepts which is
called ordinary income s6–5(1).
Legislatures and courts have consistently declined to define the limits of the term "Income" and
have referred to "income according to ordinary concept and usages". Numerous tests have been
defined by the courts, but "income" is not a term of art and there is no single ... Show more content
on Helpwriting.net ...
Tax Consequences that arise in respect of the payments to "Schubert"
"Schubert was offered $10,000 for his OA medal. He was in poor health at the time and required
medical treatment so accepted the payment."
The amount received by Schubert will be assessable under sec6–5 of ITAA 1997 as Ordinary
income in the hands of the recipient. In this case his income is ordinary because the medal is
convertible into money .
Tax Consequences that arise in respect of the payments to "Mahler"
Issue 2
Mahler entered into a contract to write an article for a magazine. He was paid $20,000 and an
additional $10,000 for signing an agreement not to give interviews on television or to journalists.
Issue 2 (i)
"Mahler entered into a contract to write an article for a magazine. He was paid $20,000"
Issue
The primary issue is whether the consideration received by Mahler is capital or income. If the
amount is income then it will be assessable under s 6–5(1) of ITAA 1997, but if it is capital the
application of the general capital gain tax provision must be considered.

Rule

Taxation and Income Statutory Income
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 winning retailers because it was not transferable and so not
convertible into money. 2.Capital does not have the character of income: For tax law purposes we
need to distinguishing income and capital for several reasons: a) ordinary ... Show more content on
Helpwriting.net ...
But: –– just because regularity is a common feature of income, do not conclude that an isolated or
one–off receipt cannot be income: see Cooling's case. [Principle upheld by a majority of HCA in
Montgomery (1999).] Isolated transactions may generate income when they are entered into with the
intention of making a profit – Myer Emporium (1987); California Copper (1904). 9. Amount derived
from carrying on a business The old view was that this provision captured only what was already
income by ordinary concepts other than its non–convertibility to money [hence 'value to the
taxpayer' – Scott's case] but in Smith's case (1987) Brennan J considered the provision captured
capital amounts too. The application of s26(e)/15–2 has been largely overtaken by Fringe Benefits
Tax (for employees) and s21A (for business benefits) 10. Amount derived from employment or the
provision of service. Isolated transactions See Myer Emporium [California Copper].~ Isolated or
unusual transactions involving the sale of capital assets [structure] may yet produce revenue
amounts when entered into with the intention of making profit. ordinary business transactions
generate income by ordinary concepts because the nature of business is profit making; 11. Amount
derived from property. Property yields rent, interest, dividends and royalties. Interest is not defined
in the Act. Its ordinary meaning is the amount

How Charitable Organizations May Not Participate Or Intervene
Charitable organizations may not participate or intervene in any political campaign on behalf of any
candidate in office. The violation of engaging in political activities is the loss of the organization's
tax–exempt status. The prohibition of such political activity includes making contributions to a
candidate's political campaign, making endorsements of a candidate, lending employees to work in a
political campaign, or providing facilities for use by a candidates." However, there are certain
educational activities that are permitted. An organization may conduct an educational activity as
long as the activity is unbiased and nonpartisan. A public charity may provide a forum for debates
by candidates, as long as the forum is fair and ... Show more content on Helpwriting.net ...
Early legislation was enacted between 1894 and 1936; tax–exempt regulations during this time
developed around three principles: "First, organizations that operated for charitable purposes were
granted exemption from the Federal income tax. Second, charitable organizations were required to
be free of private inurement. Finally, an income tax deduction for contributions designed to
encourage charitable giving, was developed." One of the first tax–exempt regulations was the
Wilson–Gorman Tariff Act of 1894. The Wilson–Gorman Tariff Act established that charitable
organizations must operate for a charitable purpose in order to be tax–exempt. The act also stated,
"nothing herein contained shall apply to corporations, companies, or associations organized and
conducted solely for charitable, religious, or educational purposes." The Court later held that the law
as unconstitutional. However, the act provided the foundation for future tax legislation involving
charitable organizations. The Revenue Act of 1909 expanded the language from the Wilson–Gorman
Tariff Act. The Revenue Act was important because it established the idea that tax–exempt
charitable organizations should be free of private inurement. Under this act tax exemption was given
to "any corporation or association organized and operated exclusively for religious, charitable, or

Apple Business Strategy
APPLE BUSINESS STRATEGY Business Strategy Objective: To develop a market demand for
Apple products in developing countries to insure the longevity of the Apple brand. Overview Apple
inc. is a Multinational Corporation operating in 97 countries worldwide. It offers an array of
products from computers to televisions to software. Apple is revered as a leader in innovative
products that are both user friendly and ascetically pleasing. In the market of computers today, Mac
and PC are more similar then anything in terms of hardware. The memory in a MacBook Pro is
almost identical to a comparable PC laptop. So where is the line that draws users to PC or Mac? The
obvious difference is the OS or Operating System. Most desktop PC's run on ... Show more content
on Helpwriting.net ...
There are different levels of income and consumption in the different areas of China. Dissimilarities
in education, consumption, power, personal habits and tastes lead many multinational companies to
view China as one nation, but certainly not one national market. While overseas companies focus on
the premium market, China's domestic consumer goods companies compete in principal for middle
and low income consumers. Also, the new labor law introduced in January 2008 has improved labor
protection and wage regulations, but most importantly it has raised China's factory labor cost
substantially causing foreign investors in labor intensive, low margin industries to reconsider their
Chinese establishments. China made products are also put under scrutiny with respect to quality,
hygiene and safety problems. In a global environment, which is driven by trade friction and
financial insecurity, these problems may make it even more politically difficult for China to net
result a good year. Antidumping Law According to China's anti dumping laws many imported
products enter China at a price lower than their actual export value, and actually cause damage, or
cause a potential danger, to domestic enterprises. Labor laws (General Provision 4) 4– Employers
shall establish and improve labor rules and regulations, so as to ensure that workers enjoy their labor
rights and perform their labor obligations. When an Employer formulates, revises or decides on
rules and regulations or material

Tea Party Protests Chapter Summary
The 2010 Tea Party protests are the newest manifestation of an old tradition, one that traces back to
the beginning of the twentieth–century and passage of the 16th Amendment which mandated a
federal income tax (Martin 2013). Author Isaac William Martin (2013) tracks the history of five
major rich people's movements that occurred in the twentieth–century United States, to explain why
movements occur and the impact, if any, they have on American society. This book serves as a
compliment to Frances Fox Piven and Richard Cloward's Poor People's Movements (Martin 2013).
The campaigns used as case studies in this novel include the campaign to abolish the estate tax and
limit income surtax rate, the campaign for a constitutional amendment limiting tax level, the
campaign to repeal federal income taxes, the ... Show more content on Helpwriting.net ...
Rich people's movements at first glance are a tradition of failure. However, the more accurate
assessment is a tradition of making a big ruckus through grassroots movements because of policy
threats, but then fizzle out of the public eye when the threats didn't pan out. Sometimes, though,
radical proposals like Clark and Jarvis's balanced budget influence policies even when they are not
ratified. Their movement's demands had an influence on the provisions of the ERTA of 1981 (Martin
2013). Since rich people's movements traditionally align with the interests of conservative
Republicans, "a movement may be most influential when its grassroots campaign is timed to match
a window of political opportunity opened by its partisan allies in office" (Martin 2013:203). In the
case of Clark and Jarvis, they took advantage of the political opportunity Ronald Reagan's
conservative government gave them and clever policy crafting that would appease

Chevron Case Study
Case 1: Chevron October 24, 2011 Introduction of the Company Chevron began with the discovery
of oil north of Los Angeles in 1879 and was originally named the Pacific Coast Oil Company. Later
John D. Rockefeller's Standard Oil bought Pacific Oil in 1900 to form Standard Oil (California). In
1911, the Sherman Antitrust Act would force the breakup of the parent Standard Oil and Chevron
became Standard Oil of California or Socal. Socal would go on to form joint venture with Texaco in
1936 to form Caltex, to develop and market oil in the Middle East and Indonesia. It would then go
on to form the Aramco partnership in the Middle East, which composed of Socal, Texaco, Exxon
and Mobil but by 1980, Aramco was completely owned by the ... Show more content on
Helpwriting.net ...
Each play an important role in Chevron operations to ensure each area of operation is properly
addressed and executed successfully. Financial Analysis Chevron is the second largest producer in
the U.S. and one of the six largest producers of oil in the world. In 2009, Chevron reported Q3
earnings of $3.83 billion compared to the $7.89 billion reported in Q3 of 2008. Chevron had total
revenue of $273 billion, its total cost and expenses were $37 and had a net income of $24 billion in
2008. For the first 9 months of 2009 earnings were $7.41 billion, down 61% from $19.04 billion in
the first 9 months of 2008. Chevron's net profit margin in 2008 was 8.8 percent, slightly lower than
the industry average of 10 percent, its debt to equity ratio was only .10 less than the industry average
of .25, making it easier for Chevron to borrow more if needed. In 2008 Chevron had a return on
equity of 27.6 percent surpassing the industry average of 19 percent and a price per earnings ratio of
8.2 times. Chevron performed well when it came to management efficiency. Their income per
employee was 372,758 outperforming the industry standard and S&P and had $4 million in revenue
per employee. They had an inventory turnover of 23.2 and an asset turnover of 1.2, again
outperforming both the industry average and S&P.

Taxation and Related Cases Essay
TABLE OF CONTENTS
INTRODUCTION 2
PART 1 – INDIVIDUAL'S TAX RESIDENCY AND TAX ASSESSMENT 3
ADVICE TO MR. BASIL ON TAX POSITION AND THE ASSESSABILITY 5
PART – 2 ADVISE TO KUMAR 9
CONCLUSION 11
REFERANCE LIST 12
INTRODUCTION
The issue in the first case is sit out about the Tax Residency of overseas employee working in
Australia and Assessing the Taxable income and Tax liability in regards to Income Tax laws in
Australia. It provides insides about Australian Taxation System and Common law cases effects on
determination of Taxable income and deductions to different types of income.
The second case is based on taxability of Income and deductions arise from the transactions related
to property and its maintenance. It ... Show more content on Helpwriting.net ...
The ordinary incomes of Australian resident are assessable under Income tax act. Motor Vehicle: –
According to section 136 of Fringe benefit tax assessment act 1986, Fringe benefits tax is a tax
placed on benefits provided by an employer to an employee. The benefit is given a money value and
inflated to reflect a pre tax value, then taxed at a flat rate of 48.5% in the hands of the employer. As
motor vehicle is provided by the employer of Mr. Basil, it is considered as fringe benefit to him and
it is totally exempted from assessable income. Phone Account: – As employer of Mr. Basil pays the
half of phone account, it considers as the benefit to Mr. Basil but it is consider as fringe benefit and
it is totally tax free for him. Holiday: – As a performance award from his employer Mr. Basil
received trip to Hong Kong, as it's a part of employment it is also consider as fringe benefit to Mr.
Basil and it is consider as non taxable. English Rent: – Mr. Basil and his wife jointly own the house
in England so they both are under partnership agreement and income from that house must be
divided equally between them. So that $A400/month is consider as Mr. Basil's taxable income.
English Dividends: – As it is normal income it is also included in to assessable income but if paying

company had paid tax before paying dividends, Mr. Basil can get tax offset up to that much. English
Interest: – According to Section 6–5 of Income Tax Assessment Act

Mortgage Systems in South Africa
1. MORTGAGE SYSTEMS
2.1 INTRODUCTION
In South Africa, banks fund long–term mortgage loans with short–term deposits. This creates both a
liquidity and interest rate mismatch. Basel III has also introduced new regulation for banks that will
need to be addressed. Denmark offers a potential solution in the Danish mortgage model. In this
system long–term mortgages are directly funded with similar equal long–term bonds. This can
potentially solve the shortcomings in the South African banking and mortgage market and lead to
more efficiency. Mexico has recently implemented the Danish mortgage model. The Mexican
implementation can be analysed to investigate the efficiency and shortcomings the model brings to
an emerging market.
BANKING AND LOAN FUNDING STRUCTURE
During the nineteenth and twentieth century, housing ownership in South Africa was mainly
financed by building societies. This was from the effect from of the British population moving to
cities and towns. This resulted in a housing shortage. Friendly societies was created for the middle
class to overcome the shortage. These were non–profit institutions. The British brought the concept
to South Africa where building societies were introduced. The building societies became financial
institutions and later banks were formed. Since the move from building societies to mergers of
banks, mortgage lending became an important component of banks' balance sheets. Banks are the
most important providers of mortgage finance for housing

The Income Tax Assessment Act Essay
Introduction
In Australia, the laws regarding taxation are contained within the 'Income Tax Assessment Act'
(ITAA) 1936 and 1997. Income is comprised of ordinary and statutory income. Ordinary income is
defined by the ITAA97 as income derived from personal exertion (i.e. salary or wages), property
(i.e. rent, dividends or interest) and income derived from carrying on a business (i.e. rental sales,
farming)1. Statutory income is defined as amounts outside the ordinary concepts that have been
specifically included in assessable income (i.e. capital gains, royalties, lump sum payments upon
termination of employment)1. This assignment asks to answer questions regarding a hypothetical
scenario involving a single, Australian resident taxpayer, and so all references to definitions and
legislation will deal with this taxpayer's specific circumstances. Income tax is defined as a tax
imposed by any of the following legislations1.
1. Income Tax Act 1986.
2. Income Tax Assessment Act 1936.
3. Income Tax Assessment Act 1997.
4. Fringe Benefit Assessment Act 1986.
According to the ITAA97, assessable income is defined as income that can be taxed, provided the
taxpayer earns enough to exceed their tax–free threshold1. Allowable deductions are defined as any
amounts that reduce the taxpayer's taxable income. Only expenses incurred in the running of a
business can be claimed as allowable deductions. In addition, it is not permissible to claim for the
'Goods and Services Tax' (GST) component

Case Study Of An Australian Tax Law
It is necessary for Jenny to be an Australian resident according to ordinary concepts. Tax rulings
98/17 assist to determine the residency of a person. In this case, Jenny is physically present in
Australia. Additionally she leased an apartment for 9 months. She considers this apartment as her
home during her stay. Moreover, her parents visit her two times. These are enough reasons for Jenny
to be Australian resident for taxation purposes. So, Jenny is regarded as a resident of Australia.
Domicile test
It is apparent from Jenny's activities that she has intentions to make Australia as her permanent place
of abide. It is her original intention to live in Australia for more than one half of year as she leased
an apartment for nine ... Show more content on Helpwriting.net ...
According to Moorhouse v Dooland, all the earnings from personal exertion may be considered as
ordinary income. If there is enough connection between the individual service and the receipt then it
will be regarded as ordinary income. If the payment is not assessable as ordinary income but it can
be assessable under section 15–2 of Income Tax Assessment Act 1997, as statutory income. The
important factor here is to identify whether the person has given up some valuable rights.
Application:
a) $100000 annual salary:
It is clear from the facts that $100000 is her salary, so it is assessable as ordinary income. It is a
service from personal exertion. This amount is annual so it is regular and periodic. There is a
sufficient nexus or flow between the receipt and her personal service. Hence, it is evident that
$100000 is ordinary income because it satisfies the characteristics of section 6–5 of Income Tax
Assessment Act 1997. It can be further explained in relation to Arthur Murray (NSW) Pty Ltd v FCT
(1965) , which shows that the income is only assessable when it is derived and earned.
b) $400000 lump sum payment:
In the case of $400,000 lump sum amount, if there is satisfactory connection between the receipt and
her personal service then this amount will be considered as ordinary income. However, under
section 15–2 of Income Tax Assessment Act 1997, it may be considered as statutory income if there
is any benefit, bonus and if

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