HI6028 Taxation Theory, Practice and Law T2 2019
HOLMES INSTITUTE
FACULTY OF HIGHER EDUCATION
Assessment Details and Submission Guidelines |
|
Trimester |
T2 2019 |
Unit Code |
HI6028 |
Unit Title |
Taxation Theory, Practice & Law |
Assessment Type |
Assignment |
Assessment Title |
Individual Assignment |
Purpose of the assessment (with ULO Mapping) |
Students are required to follow the instructions by your lecturer to confirm any relevant information. You also need to follow any relevant announcement on Blackboard to confirm the due date and time of the assignment. The individual assignment will assess students on the following learning outcomes:
|
Weight |
This assignment task accounts for 20 % of total marks in this unit. |
Total Marks |
This assignment task accounts for 20 marks of total marks in this unit. |
Word limit |
Max 2000 words (acceptable to be 10% above or below this word limit). |
Submission Guidelines |
All work must be submitted on Blackboard by the due date along with a completed Assignment Cover Page. The assignment must be in MS Word format, no spacing, 12-pt Arial font and 2 cm margins on all four sides of your page with appropriate section headings and page numbers. Reference sources must be cited in the text of the report, and listed appropriately at the end in a reference list using Harvard referencing style. |
Individual Assignment Specifications
Purpose:
This assignment aims at assessing students on the Learning Outcome from 1 to 4 as mentioned above.
Instructions: Please read carefully to avoid mistakes.
- Answer all questions.
- This assignment along with a completed Assignment Cover Page is to be submitted on Blackboard by the due date in soft-copy only (via Safe assign – Blackboard).
- The assignment is to be submitted in accordance with assessment policy stated in the Subject Outline and Student Handbook.
- It is the responsibility of the student submitting the work to ensure that the work is in fact his/her own work. Incorporating another’s work or ideas into one’s own work without appropriate acknowledgement is an academic offence. Students should submit all assignments for plagiarism checking (Via SafeAssign) on Blackboard before final submission in the subject. For further details, please refer to the Unit Outline and Student Handbook.
- Late submissions will be subject to Holmes Institute policy on student assessment submission and late penalties (please refer to subject outline and Student handbook).
- The assignment must be in MS Word format, no spacing, 12-pt Arial font and 2 cm margins on all four sides of your page with appropriate section headings and page numbers.
- Reference sources must be cited in the text of the report, and listed appropriately at the end in a reference list using Harvard referencing style. You also must refer to relevant legislation and/or case law in your answer. Reference sources must be cited in the text of the report, and listed appropriately at the end in a reference list using Harvard referencing style.
- All assignments are expected to strictly follow Holmes Institute’s Academic Conduct and Integrity Policy and Procedures. A copy of the Policy is available on the Holmes Institute home page. (About Holmes > Policies) This policy is also explained in your Student Handbook.
- Plagiarism and contract cheating in any form will not be tolerated and will have severe consequences for the groups found committing the same, including receiving zero (0) for the entire assignment and possible failure in the entire unit.
- For further details, please refer to the Subject Outline and Student Handbook.
- Note: Assessment task is set around the work that you have done in class. You are not expected to go outside the content of the unit but you are expected to explore it.
Assignment Structure should be as the following:
Question 1: The goods and services tax (GST) |
Weighting |
Identification of material facts regarding The City Sky Co goods and services tax (GST) consequences discussed in the assignment question. |
1 % |
Identification and analysis of legal issues / legal question and relevant laxation law. |
2 % |
Thorough yet succinct application of tax law to material facts. |
3 % |
Detailed and accurate conclusions are reached from the discussion. |
1 % |
Correct information and taxation law have been used and properly cited. A detailed analysis has been performed. |
2 % |
Shows excellent understanding of the cases and/or section of legislation, its context and application of taxation law. |
1 % |
QUESTION 1 TOTAL MARKS: |
10 % |
Question 2: Capital gains tax (CGT) |
Weighting |
Identification of material facts regarding the capital gain tax (CGT) consequences of Emma’s transactions discussed in the assignment question. |
1 % |
Identification and analysis of legal issues / legal question and relevant laxation law. |
2 % |
Thorough yet succinct application of tax law to material facts. |
3 % |
Detailed and accurate conclusions are reached from the discussion. |
1 % |
Correct information and taxation law have been used and properly cited. A detailed analysis has been performed. |
2 % |
Shows excellent understanding of the cases and/or section of legislation, its context and application of taxation law. |
1 % |
QUESTION 2 TOTAL MARKS: |
10 % |
Assignments’ Instructions and Requirements
QUESTION 1- (10 MARKS)
The City Sky Co is a property investment and development company. Recently the company purchased a vacant piece of land south of Brisbane on which it is planning to build 15 apartments to sell. The City Sky Co has engaged the services of the local lawyer, Maurice Blackburn, to provide the legal services required for the development for $33,000.
Maurice Blackburn runs an established sole trader business and turns over revenue of $300,000 per year.
Advise The City Sky Co of the input tax credit entitlements that they may be entitled to.
Assume that The City Sky Co is registered for GST purposes.
QUESTION 2 - (10 MARKS)
Emma has provided to you a listing of the transactions she has undertaken throughout the financial year to assist you in completing her 2015 income tax return.
Sale of a block of land for $1,000,000: Emma purchased the land as an investment in 1991. The purchase price was $250,000, plus $5,000 in stamp duty, $10,000 in legal fees. To fund the purchase, she took out a loan on which she paid interest totalling $32,000.
During the period of ownership her council rates, water rates and insurance totalled $22,000. In January 2005 a dispute occurred with a neighbour over the use of the land and legal fees incurred amounted to $5,000 in resolving this dispute. Before putting the property on the market $27,500 was spent to remove a number of large dangerous pine trees that were on the land. Advertising, legal fees and agent’s fees on the sale of the land were $25,000.
Sale of Emma’s 1000 shares in Rio Tinto for $50.85 per share: Emma paid brokerage fee of 2% on the sale. Emma initially purchased the shares for $3.5 per share in 1982.
Sale of a stamp collection Emma had purchased, from a private collector, in January 2015 for $60,000: Emma sold the collection at auction for $50,000. Auction fees totalled $5,000 for the sale.
Sale of a grand piano for $30,000: It was initially bought for $80,000 in 2000.
Advise Emma of the capital gain tax (CGT) consequences of her transitions. Ignore indexation. Your answer must include references to relevant tax law and or cases.
Assignment Structure should be as the following (students’ responses involves calculations, and students must refer to the relevant legislation and/or cases whenever required according to the questions).
Marking criteria
Marking criteria |
Weighting |
Question 1 |
|
Identification of material facts regarding The City Sky Co goods and services tax (GST) consequences discussed in the assignment question. |
1 Mark |
Identification and analysis of legal issues / legal question and relevant laxation law. |
2 Marks |
Thorough yet succinct application of tax law to material facts. |
3 Marks |
Detailed and accurate conclusions are reached from the discussion. |
1 Mark |
Correct information and taxation law have been used and properly cited. A detailed analysis has been performed. |
2 Marks |
The work shows excellent understanding of the cases and/or section of legislation, its context and application of taxation law. |
1 Mark |
QUESTION 1 TOTAL MARKS: |
10 MARKS |
Question 2 |
|
Identification of material facts regarding Emma’s capital gain tax (CGT) consequences discussed in the assignment question. |
1 Mark |
Identification and analysis of legal issues / legal question and relevant laxation law. |
2 Marks |
Thorough yet succinct application of tax law to material facts. |
3 Marks |
Detailed and accurate conclusions are reached from the discussion. |
1 Mark |
Correct information and taxation law have been used and properly cited. A detailed analysis has been performed. |
2 Marks |
The work shows excellent understanding of the cases and/or section of legislation, its context and application of taxation law. |
1 Mark |
QUESTION 2 TOTAL MARKS: |
10 MARKS |
Marking Rubric
Excellent |
Very Good |
Good |
Satisfactory |
Unsatisfactory |
|
Demonstrated ability toidentify issues relating totaxation law : Knowledge and understanding. |
Comprehensive identification of key issues. Frequent links drawn across topics or to extraneous materials. Student property generates questions and problems around a case. |
Very good identificatio n and discussion of issues. Several links drawn across topics or to extraneous materials. |
Majority of relevant issues identities and discussed. Some links drawn across topics or to extraneous materials. |
Some relevant issues overlooked or misunderstood. Few links made drawn across topics or to extraneous materials. |
Failure to identify and discuss relevant issues. No links made drawn across topics or to extraneous materials. |
Ability to synthesise material in order to raise issues or construct a persuasive argument. Ability to engage in a reflectivediscourse: Synthesis analysis and argument. |
Thorough analysis and synthesis of issues. Persuasively argued throughout, contrary arguments anticipated. Excellent critical evaluation of other metrical and appropriate response. Detailed conclusion is reached from the discussion. |
Very good analysis, argument welldeveloped and supported, some critical evaluation of other material and appropriate response. Conclusion is reached from the discussion. |
Some analysis of issues: argument may be underdeveloped or unpersuasive. Limited critical evaluation and response to other material. Conclusion is reached but do not supports the analysis. |
Mainly descriptive with little analysis of issues basic argument is unclear or use undeveloped or not well supported. Limited reference to other material. The response shows some understanding of the case, its context and application of tax law. |
Insufficient analysis argument is lacking or unsound, failure to use relevant materials, or use of materials may indicate confusion or misunderstanding. No response to other material. No conclusion is given. |
Writing presentation and referencing |
Clear and logical organisation; precise and concise writing. Minimal errors in expression, grammar, spelling or punctuation. Excellent and complete referencing. Grammar and spelling are correct. |
Very good structure and organisation. Generally well- written. Occasional minor flaws in expression, grammar, spelling or punctuation. Correct and complete referencing. |
Generally coherent structure a with occasional deficiencies; reasonably well written. Some flaws in expression, grammar, spelling or punctuation |
Some defects in structure and organisation; writing may be difficult to follow in parts. Flaws in expression, grammar, spelling or punctuation; a number of missing, incomplete or incorrect footnote citations. Referencing omissions. |
Structure and organisation incoherent or lacking; poorly written, difficult to follow. Frequent or repeated flaws in expression, grammar, spelling or punctuation; inadequate citation of sources. Errors in referencing. |
Assignment Service Australia | CDR Writing Help | TAFE Assignment Help | Perth Assignment Help | Melbourne Assignment Help | Darwin Assignment Help | Adelaide Assignment Help | Assignment Help Victoria | Sydney Assignment Help | Canberra Assignment Help | Brisbane Assignment Help | CDR for Australian immigration | Course For Australian History
Diploma Universities Assignments
- Laureate International Universities Assignment
- Holmes Institute Assignment
- Tafe NSW
- Yes College Australia
- ACC508 Informatics and Financial Applications Task 2 T2, 2019
- ACC512 Accounting
- ACC520 Legal Regulation of Business Structures Semester 2, 2019
- ACCT20074 Contemporary Accounting Theory Term 2 Assessment 3
- AERO2463 Computational Engineering Analysis : Assignment 4
- B01DBFN212 Database Fundamentals Assessment 1
- BE01106 - Business Statistics Assignment
- BFA301 Advanced Financial Accounting
- BFA504 Accounting Systems Assessment 3
- BSB61015 Advanced Diploma of Leadership and Management
- BSBADV602 Develop an Advertising Campaign
- BSBCOM603 Plan and establish compliance management systems case study
- BSBCOM603 Plan and establish compliance management systems Assessment Task 1
- BSBCOM603 Plan and establish compliance management systems Assessment Task 2
- BSBCOM603 Plan and establish compliance management systems Assessment Task 3
- BSBFIM501 Manage Budgets And Financial Plans Assessment Task 1
- BSBHRM602 Manage Human Resources Strategic Planning
- BSBINM601 Manage Knowledge and Information
- BSBWOR501 Assessment Task 3 Plan Personal Development Plan Project
- BSBMGT517 Manage Operational Plan
- BSBWHS521 Ensure a Safe Workplace For a Work Area
- BSBWRK510 Manage employee relations
- BUSS1030 Accounting, Business and Society
- CAB202 Microprocessors and Digital Systems Assignment Help
- CHC40213 Certificate IV in Education Support
- CHCAGE001 Facilitate the empowerment of older people
- CHCAGE005 Provide support to people living with dementia
- CHCCCS023 Support independence and wellbeing
- CHCCCS025 Support relationships with carers and families
- CHCCOM005 Communicate and CHCLEG001 Work Legally Ethically
- CHCDIS002 Follow established person-centred behaviour supports
- CHCECE019 Early Childhood Education and Care
- CHCHCS001 Provide home and community support services
- COMP10002 Foundations of Algorithms
- COMP90038 Algorithms and Complexity
- COSC2633/2637 Big Data Processing
- COSC473 Introduction to Computer Systems
- CPCCBC5011A Manage Environmental Management Practices And Processes In Building And Construction
- CPCCBC5018A Apply structural Principles Medium rise Construction
- CSE3OSA Assignment 2019
- ELEC242 2019 Session 2
- ENN543 Data Analytics and Optimisation
- ENN543 Data Analytics and Optimisation Semester 2, 2019
- FINM202 Financial Management Assessment 3 Group Report
- Forensic Investigation Case Assignment ECU University
- HA2042 Accounting Information Systems T2 2019
- HC1010 Holmes Institute Accounting For Business
- HC2112 Service Marketing and Relationship Marketing Individual Assignment T2 2019
- HC2121 Comparative Business Ethics & Social Responsibility T2 2019
- HI5002 Holmes Institute Finance for Business
- HI5003 Economics for Business Trimester 2 2019
- HI5004 Marketing Management T1 2020 Individual Report
- HI5004 Marketing Management T1 2020 Group Report
- HI5004 Holmes Institute Marketing Management
- HI5014 International Business across Borders Assignment 1
- HI5014 International Business across Borders
- HI5017 Managerial Accounting T2 2019
- HI5017 Managerial Accounting T1 2019
- HI5019 Tutorial Questions 1
- HI5019 Strategic Information Systems for Business and Enterprise T1 2020
- HI5019 Holmes Institute Strategic Information Systems T2
- HI5019 T2 2019
- HI5019 T1 2019
- HI5020 Corporate Accounting T3 2019
- HI5020 Corporate Accounting T2 2019
- HI6005: Management and Organisations in a Global Environment
- HI6006 Tutorial questions
- HI6006 Competitive Strategy Individual T1 2020
- HI6006 Holmes Institute Competitive Strategy
- HI6006 Competitive Strategy T3 2019
- HI6007 Statistics for business decisions
- HI6007 Assessment 2 T1 2020
- HI6007 T1 2019
- HI6008 T2 2019
- HI6008 Holmes Institute Research Project
- HI6025 Accounting Theory and Current Issues
- HI6026 Audit, Assurance and Compliance Assignment Help
- HI6026 Audit, Assurance and Compliance
- HI6027 business and corporate law tutorial Assignment T1 2021
- HI6027 Business and Corporate Law T3 2019
- HI6027 Business and Corporate Law T2 2019
- HI6028 Taxation Theory, Practice and Law T2 2021
- Hi6028 taxation theory, practice and law Final Assessment t1 2021
- HI6028 Taxation Theory, Practice and Law T2 2019
- HI6028 Taxation Theory T1 2019
- HI6028 Taxation Law Holmes
- HLTAAP001 Recognise healthy body systems
- HLTWHS002 Follow safe practices for direct client care
- HOTL5003 Hotel Property and Operations
- HPS771 - Research Methods in Psychology A
- HS2021 Database Design
- ICTICT307 Customise packaged software applications for clients
- IFN619 Data Analytics for Strategic Decision Makers
- INF80028 Business Process Management Swinburne University
- ISY2005 Case Assignment Assessment 2
- ISYS326: Information Systems Security Assignment 2, Semester 2, 2019
- ITAP3010 Developing Data Access Solutions Project
- ITECH1103- Big Data and Analytics – Lab 3 – Working with Data Items
- ITECH1103- Big Data and Analytics Assignment Semester 1, 2020
- ITECH 5500 Professional Research and Communication
- Kent Institute Australia Assignment
- MA5830 Data Visualisation Assignment 2
- MGMT7020 Project Management Plan
- Mgt 301 Assessment 3
- MGT215 Project Management Individual Assignment
- MIS102 Data and Networking Assignment Help
- MITS4002 Object Oriented Software Development
- MITS5002 Software Engineering Methodology
- MKT01760 Tourism Planning Environments Assessment 4
- MKT01760 Tourism Planning Environments
- MKT01906 International Tourism Systems
- MKT5000 Marketing Management S2 2019
- MNG03236 Report Writing SCU
- MRE5003 Industrial Techniques In Maintenance Management Assignment 4
- MRE5003 Industrial Techniques In Maintenance Management Assignment 3
- MRE5003 Industrial Techniques In Maintenance Management
- Network Security and Mitigation Strategies Answers
- NIT2213 Software Engineering Assignment
- NSB231 Integrated Nursing Practice Assessment Task 1
- Science Literacy Assessment 4
- SIT323 Practical Software Development T 2, 2019
- SIT718 Using aggregation functions for data analysis
- SITXCOM002 Show Social and Cultural Sensitivity
- TLIL5055 Manage a supply chain
- TLIR5014 Manage Suppliers
- USQ ACC5502 Accounting and Financial Management
- UTS: 48370 Road and Transport Engineering Assessment 2
- CHCAGE001 Facilitate the empowerment of older people
- CHCAGE005 Provide support to people living with dementia
- CHCCCS011 Meet personal support needs
- CHCCCS015 Provide Individualised Support
- CHCCCS023 Support independence and wellbeing
- CHCCCS025 Support relationships with carers and families
- CHCCOM005 Communicate and work in health or community services
- CHCDIS001 Contribute to ongoing skills development
- CHCDIS002 Follow established person-centred behaviour supports
- CHCDIS003 Support community participation and social inclusion
- CHCDIS005 Develop and provide person-centred service responses
- CHCDIS007 Facilitate the empowerment of people with disability
- CHCDIS008 Facilitate community participation and social inclusion
- CHCDIS009 Facilitate ongoing skills development
- CHCDIS010 Provide person-centred services
- CHCDIV001 Work with diverse people
- CHCHCS001 Provide home and community support services
- CHCLEG001 Work legally and ethically
- CHCLEG003 Manage legal and ethical compliance
- HLTAAP001 Recognise healthy body systems
- HLTAID003 Provide First Aid
- HLTHPS007 Administer and monitor medications
- HLTWHS002 Follow safe work practices for direct client care
- CORPFIN 7101 managerial finance assignment answers
- Assignment 2 Introduction to Digital Forensics
- MGT603 Systems Thinking Assessment 1
- MGT603 Systems Thinking Assessment 2
- Hi5017 Managerial Accounting T1 2021
- HI6028 Taxation Theory, Practice and Law T1 2021
- OODP101 Assessment Task 3 T1 2021
- ITNE2003R Network Configuration and Management Project