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

File system versus swap space, Q. What are the tradeoffs concerned in rerea...

Q. What are the tradeoffs concerned in rereading code pages from the file system versus using swap space to store them? Answer: If codes pages are accumulate in swap space th

Define a linker program, Define a linker program  A linker program lin...

Define a linker program  A linker program links the program along with other programs required for its execution.

Vehicle tasks using semaphores, Gopher Gallery consists of a shopping mall ...

Gopher Gallery consists of a shopping mall and a cart ride that covers  the 150 acre habitat. There are m visitors and n single-person vehicles. Visitors  stroll around the mall at

BARBER SHOP PROBLEM, a) The barber shop has one barber, one barber chair, a...

a) The barber shop has one barber, one barber chair, and n chairs for waiting customers, to sit on. If there are no customers present, the barber sits down in the barber chair and

Explain the scheduleworktodo function used in netware, Explain the Schedule...

Explain the ScheduleWorkToDo Function used in Netware ScheduleWorkToDo(MyThread Function, arg, workToDo) The ScheduleWorkToDo ( ) function is specific to NetWare 4.0. This c

Explain fixed partitioning in memory management, FIXED PARTITIONING Us...

FIXED PARTITIONING Using fixed partitioning we are able to allocate the memory Here we are dividing the memory into a few fixed partitions.Every partition may not be of the si

How are file sharing and protection implemented, How are file sharing and p...

How are file sharing and protection implemented? To execute file sharing and protection the system have to maintain more file and directory attributes than are needed on a sing

What do you mean by first fit, What do you mean by first fit? First fit...

What do you mean by first fit? First fit allocates the first hole that is big sufficient .Searching can either start at the starting of the set of holes or where the previous f

Name two differences between logical and physical addresses, Q. Name two di...

Q. Name two differences between logical and physical addresses? Answer: A logical address doesn't refer to an actual existing address rather it refers to an abstract address in

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