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Taxation Law
Your Task
You must prepare solutions/recommendations that addresses all the questions raised in a case study.
Assessment Description
Your task is to analyse client information outlined in the case study scenario and calculate taxable income, final tax liability and provide explanations of income and deductions for a taxpayer.
For each question you are expected to:Identify the facts and issues for each caseApply the relevant legislation and/or case law.
Assessment InstructionsThis assessment must be prepared as a group effort. This requires collaboration and effective teamwork. All students must take part and research the relevant legislation, including cases, and additional resources available via the Australian Taxation Office website.
You must complete the case study during class and submit it via Turnitin at the end of class. Any submission after class time will receive zero marks.
Form groups (maximum 3 students) and identify a group leader.The group leader must email your facilitator the names and student numbers of all group members by week 5.Students who have difficulty forming groups must let your facilitator know by week 5. Your facilitator will assist you in forming a group.Answer the questions included in the Assessment 2 question document which will be madeavailable to you in class during Workshop 6.This case study should be attempted as a group.Only one submission is required per group.
Determine taxable income before considering expense.
Prepare a tax research memo to the file that addresses the issues you feel are most relevant to Mimi's various issures.
Explain what is meant by income by ordinary concepts
Identify the tax issues that are raised and the relevant sections of the legislation. Identify any cases and other sources of law or information that apply.
Calculate Carolines taxable income
Show the tax issues that are raised and the relevant sections of the legislation.
Brief statement in your own words of the facts of the cases.
Prepare the C Regular Corporation Tax Return for the Lawson And Norman Enterprise
Advise the participants in the ‘barter' system of the income tax implications, if any, of participating in the system.
Discuss- A tax on cigarettes is a good way of raising tax revenue for the government
Prepare the required journal entry to record the tax expense
Calculate Barb's taxable income? What nonrefundable credit is Barb eligible for based on the information you have?
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