Reference no: EM132697906
Alan is currently an employee for the North Melbourne football club. He works in the marketing department full-time. He is also currently enrolled with a Commonwealth Supported Place (CSP) in a Bachelor of Marketing, studying on a part-time basis. In the current tax year, Alan has incurred expenditure for textbooks and consumables, as well as tuition fees in relation to the course. His employer, the football club, is supportive of Alan's studies and has provided Alan with study leave, the equivalent of one day per fortnight. In semester 2, 2019, Alan would drive directly from the club's premises to the university to attend classes; however, in semester 1, 2020, this ceased with COVID-19 causing closures of university campuses. He now completes his studies fully online. For this purpose, he has acquired a second monitor for $350 and desk for $150 and set these up in his lounge room. The club has also contributed $1,000 per course per semester. On completing the degree, Alan's role at the club will not change, however he expects it will lead to an increase in pay. REQUIRED: Advise Alan of the tax consequences arising from the above fact situation by answering the following four questions:
Question 1. Is Alan entitled to a deduction for the expenditure on textbooks and consumables?
Question 2. Is Alan entitled to a deduction for the tuition fees and what is the impact of the employer contribution on Alan?
Question 3. Discuss the tax treatment of Alan's travel.
Question 4. Discuss briefly the tax treatment of Alan completing his studies online.
SITHKOP004 - Develop Menus for Special Dietary Requirements
: SITHKOP004 - Develop Menus for Special Dietary Requirements Assignment Help and Solution - Pax Institute of Education, Australia - Assessment Writing Service
|
Compute the cost of goods destroyed
: Compute the cost of goods destroyed, assuming that the gross profit is 33 1/3% of sales.(Round ratios for computational purposes to 5 decimal places)
|
Why disney acquired pixar
: From 7 reasons the company made acquisitions, as written by Hitt etc., what are the reasons why Disney acquired Pixar?
|
Describe the seven dimensions of organizational culture
: Describe the seven dimensions of organizational culture and discuss the impact of a strong culture on organizations and managers with different examples?
|
Discuss the tax treatment of alan travel
: Is Alan entitled to a deduction for the tuition fees and what is the impact of the employer contribution on Alan? Discuss the tax treatment of Alan's travel.
|
Roles of internal and external stakeholders
: Consider the roles of internal and external stakeholders and consider one of the following projects:
|
Find and write a memorandum to inform austin motors
: Find and Write a memorandum to inform Austin Motors of specific contingent liabilities arising from the business. In discussion, define a contingent liability.
|
Decision-making of organizations
: How do technological advances observed in the fields of communication, business, banking, education, medicine, and security, contribute to the decision-making o
|
Data analysis
: Create a summary of stats for the dataset. What is the Min, Max, Median, and Mean of the Price? What is the correlation values between Price, Ram, and Ads?
|