Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Part 1: Case study Janet (taxpayer) residing in Australia is named as the sole beneficiary of a property (1.85 hectares) with a large homestead as a result of the death of a relative on 7/10/2010. The property is not used for commercial purposes and at the date of death, the property was valued at $1.45million. Settlement took place on 21/12/2010. After moving into the homestead shortly after taking ownership, she planned to take a one-year trip which she had been planning for some time in late 2011. The taxpayer felt that the homestead was far too large for her (she is single), applied to the ATO for an exemption for ABN registration and some fourteen months later (16/2/2012), she obtained council approval to subdivide the property into three, with the intention of building three units, one she will take up as her own residence, the other two will be sold. Work commenced some weeks after approval and on 12th December that same year, the taxpayer returned and moved into one of the apartments. The other two were sold in March/April in 2013, one selling for $1.35m (24/3/2013), the other for $1.45m (9/4/2013).
You are to consider the CGT implications both from the relevant sections (ITAA), rulings, etc. and from the values (if/where applicable). Assume that the blocks are subdivided equally. For each determination that you make, you should clarify. You should also clarify what Capital Gains and CGT is in your answer. Part 2: Question Explain using examples and relevant sections of the act, what the differences between Ordinary Income and Statutory income are. Use your own examples (not from MTG or Barkoczy text).
peter mary and paul are planning on creating a new business to buy restore and sell classic cars. the three individuals
Strategies for managing risk - Evaluate what is a strategy for managing risk and what are some potential future risks?
However, the space occupied by the production of the value can be used by another production group that is currently leasing space for $55,000 per year.
Write a research paper describing the issues surrounding the company and describe any company policy or policies in relationship to their impact on public audits/accounting.
The Heritage Amusement Park would like to construct a new ride called the Sonic Boom, which the park management feels would be very popular. The ride would cost $450,000 to construct, and it would have a 10% salvage value at the end of its 15-year..
Southern Corp. will let Pacific Northern make a single payment of $400,000 at the end of five years. This payment includes both principal and interest at 12%. What is the present value of this payment. Pacific Northern will purchase the equipment t..
Use the absorption costing approach to evaluate the markup required to make the desired return on investment based on the subsequent information.
Prepare an income statement for the Dental Drilling Company and Prepare an income statement for Stein Books.
Early in the year we wrote off $65,000 of receivables. Nick, Ray, and I agreed we would lose another $30,000 from the open accounts as of December 31, 20X4. That's reflected in the listing of S&A costs. The allowance for bad debts was just a "squee..
The fund was replenished on March 15 when the fund contained $3 in cash. On March 20, the amount in the fund was increased to $150 - Journalize the entries in March that pertain to the operation of the petty cash fund.
Evaluate a consolidated statements workpaper
How did you determine the dividends on statement of retained earnings are $1,500 and the equipment is $12,000 on balance sheet? I suppose if you know one you can get the other. Which one did you determine?
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd