Regular payment to a former employee

Assignment Help Other Subject
Reference no: EM13138480

Part 1: Concepts of Income 

a) Is it possible for an employer to provide a regular payment to a former employee, can it be on the basis to compensate for a lower salary income or is it treated as a gift? Included in your answer should be any taxation considerations to both parties
b) Explain what constitutes a business for taxation purposes so that income derived by the taxpayer must be assessed for income tax. 
Part 2: Deductions 
Question "General Deductions" 

1) What is your view re: compulsory business expenses and their deductibility under s8-1 ITAA97 where they are incurred AFTER the business ceases to operate? How does this compare to expenses such as legal fees? (5 marks). 
2) Question "Specific Deductions" 

Explain the difference between capital improvements compared to Repairs and Maintenance, giving consideration to a taxpayer who owns a rental property.

Reference no: EM13138480

Questions Cloud

What is the density of block : A 4.369 g sample of metal is placed in a flask. Water is added to the flask and the total volume in the flask is read to be 126.4 ml. The mass of the water
Religion and first amendment : Discuss the place that the First Amendment plays in shaping the perspective of religion in America. Specifically address what the First Amendment is/means, and how that affects the American religious culture, and specifically in relation to previo..
Challenges of islam in the modern world : Select one of the challenges of Islam in the modern world. Research on the Internet how this challenge is being met in major Muslim societies today.
Compute the income or loss before taxes recorded : Compute the income or loss before taxes recorded by Krawczyk for the years ended December 31, 2011, and 2012,as a result of the above transaction, assuming that the installments are collected as due under the contract.
Regular payment to a former employee : Is it possible for an employer to provide a regular payment to a former employee, can it be on the basis to compensate for a lower salary income or is it treated as a gift
Determine density of solid block : A solid block of exactky 100.0 cm 3 has a mass of 153.6g. Determine its density. Will the block sink or float on water?
Traditional flood story-hebrew bible : The Hebrew Bible have parallels with other "scriptures" from the ancient world. Consider the flood story in each tradition: read the different versions of the flood story. How are they different? How are they the same? Discussing what this suggest..
Mission, vision & values : Mission, Vision & Values  How does a corporation determine what direction they will take in the marketplace? The first three elements of setting this direction are Mission Vision and Value Statements.
The magnetic tape recorder uses linear analog : The magnetic tape recorder uses linear analog to digital encoding. Telephone systems use non linear analog to digital conversion. Explain the difference.

Reviews

Write a Review

Other Subject Questions & Answers

  Cross-cultural opportunities and conflicts in canada

Short Paper on Cross-cultural Opportunities and Conflicts in Canada.

  Sociology theory questions

Sociology are very fundamental in nature. Role strain and role constraint speak about the duties and responsibilities of the roles of people in society or in a group. A short theory about Darwin and Moths is also answered.

  A book review on unfaithful angels

This review will help the reader understand the social work profession through different concepts giving the glimpse of why the social work profession might have drifted away from its original purpose of serving the poor.

  Disorder paper: schizophrenia

Schizophrenia does not really have just one single cause. It is a possibility that this disorder could be inherited but not all doctors are sure.

  Individual assignment: two models handout and rubric

Individual Assignment : Two Models Handout and Rubric,    This paper will allow you to understand and evaluate two vastly different organizational models and to effectively communicate their differences.

  Developing strategic intent for toyota

The following report includes the description about the organization, its strategies, industry analysis in which it operates and its position in the industry.

  Gasoline powered passenger vehicles

In this study, we examine how gasoline price volatility and income of the consumers impacts consumer's demand for gasoline.

  An aspect of poverty in canada

Economics thesis undergrad 4th year paper to write. it should be about 22 pages in length, literature review, economic analysis and then data or cost benefit analysis.

  Ngn customer satisfaction qos indicator for 3g services

The paper aims to highlight the global trends in countries and regions where 3G has already been introduced and propose an implementation plan to the telecom operators of developing countries.

  Prepare a power point presentation

Prepare the power point presentation for the case: Santa Fe Independent School District

  Information literacy is important in this environment

Information literacy is critically important in this contemporary environment

  Associative property of multiplication

Write a definition for associative property of multiplication.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd