Australian Tax Law BFA714 – Exempt Income BFA714_10 What is income? 2 Key Legislative Provisions ITAA97 • Economist View – Division 6: • • • • • – Traditional economic view of income is that it is a ‘gain’ • Recognises both realised and unrealised gains as income s 6-5 Ordinary income s 6-10 Statutory income s 6-15 Not assessable income s 6-20 Exempt income s 6-23 Non-assessable non-exempt income – Other Relevant Divisions: • • • • • Tax View • Only
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----------------------- ITC PAY Basis SSI – entitled to receive‚ FSI – received in Sg Current a/c interest – accrues evenly over time Fixed Deposit interest – date of maturity 1. Net Acc profit (before dep & tax) Expense Deductible N.D Charge to P/L Nothing Add Not charged Minus Nothing Revenue Taxable N.T Credited to P/L Nothing Minus Not credited Add Nothing Add: 10(1)(a) income not credited to P/L Expense charged for Non 10(1)(a) Less: Non 10(1)(a) income credited
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Tax & Taxation The term ’tax’ has been derived from the French word taxe and etymologically‚ the Latin word taxare is related to the term ’tax’‚ which means ’to charge’. Tax is an obligatory payment in the part of the citizen without the expectation of any direct benefit. Taxation is the obligation of non-penal‚ yet compulsory transfer of resources from the private to the public sector levied on a basis of predetermined criteria and without reference to specific benefit received. It is one of the
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Carbon-14 Dating: An Invaluable Yardstick in the Chronology of Humans Archaeologists utilize several methods to analyze data from the past. One scientific tool helps to analyze the radioactive decay of chemical elements found in plant and animal remains‚ pottery‚ and even rocks. Radiocarbon dating‚ also known as carbon-14 dating‚ has developed into one of the most important radioisotope dating methods archaeologists employ. This scientific tool‚ first developed by Willard F. Libby in the late
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Carbon is denoted by the symbol C‚ is part of group 14 on the periodic table‚ and is the fourth most abundant element in the universe (by mass). Carbon has an electron configuration of 1s2‚ 2s2‚ 2p2. With 4 valance shell electrons it is expected to form 4 bonds‚ this means carbon is tetravalent. However the s orbitals do not form the same type of bond (with other atoms) as the p orbitals‚ this is because their shapes are different. For example CH4 would have the following bonds: C(s)-H(s)‚ C(s)-H(s)
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Hindustan Unilever Limited (HUL) (BSE: 500696) is India’s largest consumer goods company based in Mumbai‚ Maharashtra. It is owned by the British-Dutch company Unilever which controls 52% majority stake in HUL. Its products include foods‚ beverages‚ cleaning agents and personal care products. HUL’s approach for a greener planet Climate change will have a growing impact on Unilever’s business. Our suppliers of agricultural raw materials will be affected by changing weather patterns. Our consumers
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resources burden government with economic problem which can and shall ultimately pose danger to the peace and order condition of the community‚ country or nation. In the Philippines the tax department‚ popularly known as Bureau of Internal Revenue (BIR)‚ is under the support of the Department of Finance. The tax department has enormous and wide ranging administrative and legislative powers when it comes to assessment‚ enforcing taxes and collection. It is considered to be the main revenue earning
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STRUCTURAL MATERIAL: CARBON FIBER Carbon Fiber is a structural material of graphite which is an allotrope of carbon. Therefore Carbon Fibre consists of carbon atoms in an atomic structure similar to Graphite. Carbon Fibre is composed of filament threads and within these threads are an accumulation of thousands of fine Carbon filaments. A filament has a diameter of approximately 5-10 micrometers. (Madehow‚ 2012) Due to the substantial stability in bonding between Graphite and Carbon Fiber the structure
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Why life chose Carbon? It is the second most abundant element in the human body-18% of the wet weight. Molecules based on carbon-known as organic molecules because of their occurrence in living matter-constitute the majority of molecules found in living organisms from plants to people. 1 of the 4 special features of carbon is that carbon atoms are able to bond with each other to form extended chains-sharing pairs of electrons with neighbouring carbon atoms which allow the formation of stable covalent
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Proyecto: DIOXIDO DE CARBONO Y EL FUEGO (CARBON DIOXIDE FIRE) LA PRESENCIA DE UN GAS QUE APAGA EL FUEGO (THE PRESENCE OF AN OFF GAS TO THE FIRE) INTRODUCTION This science project shows that not all gases are the cause of the fire‚ there are several gases that cause the flame is extinguished. Therefore we developed the first fire extinguisher ready and try to prove one of the most important gases in our planet’s carbon dioxide. PROBLEM It is possible that the presence
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