Taxation problem, Operating System

Assignment Help:

Smith, who is a civil engineer, purchased a 30-hectare block of land in Australia in 1986 and used two hectares of it as a main residence. The part that was not main residence cost $600000. In March 2011, Smith decided to conduct the business of land development with respect to the 28hectares. From that date he was involved in the grading clearance, planning and financing of the development. On 1 March 2011, the land had a market value of $2 million. When the land is developed and subdivided Smith thinks he can sell it for a total of $10 million.

Requirements:

a) Advise Smith as to the tax consequences of his actions.

b) Would you advice differ if Smith had purchased the land in 1980?


Related Discussions:- Taxation problem

Operation research, scattered resposibi;ity and authority -necessity of ope...

scattered resposibi;ity and authority -necessity of operation research

Semaphore examples, Ok so i think i got this right by not 100% on this. wha...

Ok so i think i got this right by not 100% on this. what I want to figure out is if there are x visitors that can line up for a ride but only 1 passenger can get on the ride at a t

Assignment, You must use fork and pipe to complete this project. This proj...

You must use fork and pipe to complete this project. This project creates processes to add all numbers in a file. The user will enter a number (1, 2, or 4) of parallel processes

Exdplain many-to-many model, Many-to-Many Model The many-to-many model-...

Many-to-Many Model The many-to-many model- many user-level threads to many kernel-level threads avoids several of the limitations of the one-to-one model, although extending mu

What is an i/o subsystem, What is an I/O subsystem? The control of devi...

What is an I/O subsystem? The control of devices connected to the computer is a main issue while designing operating systems. Because I/O deices differ widely in their function

Define lazy swapper, Define lazy swapper. Rather than swapping the enti...

Define lazy swapper. Rather than swapping the entire process into main memory, a lazy swapper is used. A lazy swapper never swaps a page into memory unless that page will be ne

Explain User-level threads (ult), USER-LEVEL THREADS (ULT) In this lev...

USER-LEVEL THREADS (ULT) In this level the kernel isn't aware of the existence of threads -- All thread management is complete by the application by using a thread library. Th

Invalid page fault, Invalid page fault :If a page fault happens for a ref...

Invalid page fault :If a page fault happens for a reference to an address that's not part of the virtual address space, so that there could not be a page in memory corresponding

How can an index file be used to speed up, How can an index file be used to...

How can an index file be used to speed up the access in direct-access files? Have an index in memory; the index gives the key and the disk location of its corresponding record.

Write Your Message!

Captcha
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