|[pic] | | | |The Business School | | | | | |BULAW 3731 INCOME TAXATION | | |Assignment | | |Summer - 2013 |
1. See the Instructions and Assessment Criteria in the Course Description and make sure you follow them!
2. Please answer all parts of the question
3. Attached to this document is a Checklist to be filled in by you and attached to your essay/assignment. Read this now before you start your research. If you have followed this checklist, there is a good chance you will do well.
4. All work presented for assessment in this course must comply with the format outlined in the University's Presentation of Academic Work publication, available from the bookshop or on-line at www.ballarat.edu.au/generalguide.
5. All essays must be accompanied by a signed official cover sheet ('Plagiarism Declaration Form'), available at www.ballarat.edu.au/ard/business/student_info_webct.shtml and lodged as appropriate for your campus.
6. You MUST reference in the body of the essay every time you use information from other people. This requires you to keep a track of where you are taking information from and then writing the reference up. You should use the Harvard/APA style; and use the University’s new Presentation of Academic Work. The Library’s website also has a citation style guide site. If you plagiarise (intentionally OR unintentionally) you will be given zero: see Regulation 6.1.1 for more details.
7. LAST DUE DATES: … Please check with the Course Description for details of where and when to submit your assignment. If you need an extension you must ask for one BEFORE the due date (unless this is impossible).
8. The assignment should not exceed approximately 2000 words.
9. The assignment is worth 25%.
Basil arrived in Australia on 28 August 2011 from his usual domicile in England. He obtained a working visa that permits him to work in Australia for three years. He is a specialist in information technology and is employed by Systems Ltd, a resident UK company that has secured a contract in Australia. His wife Sybil and two school aged children accompany him. For the present he proposes to rent accommodation in Adelaide but he may buy a property if he likes the country and spots a real estate bargain.
Basil is paid a base salary of $12,000per month plus a rent subsidy of $600 per month. Half of the net (after tax) salary is credited to an Adelaide bank account, the balance to an account at the Bank of England. He is also provided with a fully maintained motor vehicle for his private use. His employer pays half his phone account. The amounts are $A125, $A460, $A440 and $A475 in September, December, March and June, respectively.
His England home, owned jointly with his wife Sybil, is rented out for $A800/month, in advance on the 1st of every month, and paid into the England bank account.
In December 2011 Basil received a performance award from his employer consisting of a fully paid trip for the family to Hong Kong. The trip is valued at $A10,000, is non-transferable and must be taken before August 2012. It has not been taken by June 30, 2012.
In October 1990 Basil acquired a parcel of speculative shares in an English company for $A14,000. The price had been not changed for some time and then in March 2012 suddenly jumped to $A23,000 and Basil sold the shares immediately. In November 2011 he...
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