Name: _____________________________ SID: ______________ THE UNIVERSITY OF NEW SOUTH WALES SCHOOL OF ACCOUNTING ACCT 5942: CORPORATE ACCOUNTING & REGULATION INCOME TAX QUIZ‚ SESSION 1 2012 Time allowed: Number of Questions: Thirty minutes (no reading time) 15 INSTRUCTIONS 1. Before starting the examination complete your personal details requested on the Answer Sheet and on this Examination Booklet. 2. You must record all your answers to the multiple-choice on the computerized
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Income Tax Reckoner 1. Rates of Income Tax Individuals & Charitable Trust‚ General* Up to ` 2.00 Lacs ` 2.00 - ` 5.00 Lacs ` 5.00 - ` 10.00 Lacs ` 10.00 Lacs & above Senior Citizen (60 to 79) Up to ` 2.50 Lacs ` 2.50 - ` 5.00 Lacs ` 5.00 - ` 10.00 Lacs ` 10.00 Lacs & above Very Senior citizen (80 and above) Up to ` 5.00 Lacs ` 5.00 - ` 10.00 Lacs ` 10.00 Lacs & above AY: 2013-14
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Dear Miss McGeachin Comment to Exposure Draft Income Tax I appreciate the opportunity to comment on IASB’s Exposure Draft Income Tax. This letter expresses my personal views based on my experience with a very specific issue: deferred taxes arising from the differences that result from there being a functional currency and another currency that applies for corporate tax purposes. In most countries‚ the currency that applies for corporate tax purposes is the same as the country’s local currency. However
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lecture‚ you should be able to: understand the ordinary concepts of income; | | THE ORDINARY CONCEPTS OF INCOME What is Income? The assessable income of an entity for a year of income includes the ordinary income of an entity and the statutory income of the entity for that year (Section 6-1 ITAA (1997)). Ordinary income is income according to ordinary concepts. The courts have had to determine what is income according to ordinary concepts as there is no definition in the
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CHAPTER 5 GROSS INCOME: EXCLUSIONS SOLUTIONS TO PROBLEM MATERIALS | | | | |Status: | | Q/P | |Question/ |Learning | | |Present | | in Prior | |Problem |Objective |Topic | |Edition
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The effect of the plain language movement on the rewriting of the Australian 1936 Income Tax Assessment Act is a case worth considering. It is an example of language evolution‚ with the legal profession moving away from the ’safe’ legal language to the more clear‚ concise‚ and accessible plain language. It also highlights the effect of plain language and its many advantages over the older legal language. In addition‚ the plain language movement is a live and current issue‚ not just in English speaking
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Kingsville Subd.‚ Antipolo City “STATEMENT OF MANAGEMENT’S RESPONSIBILITY FOR ANNUAL INCOME TAX RETURN” The Management of BTKPNB VENTURES is responsible for all information and representations contained in the Annual Income Tax Return for the year ended December 31‚ 2012. Management is likewise responsible for all information and representations contained in the financial statements accompanying the Annual Income Tax Return covering the same reporting period. Furthermore‚ the Management is responsible
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distributions‚ and the corporation did not pay any dividends. How much income must Barry report from these businesses? | | | Student Answer: | | $0 income from the partnership and $0 income from the corporation | | | | $0 income from the partnership and $90‚000 income from the corporation | | | | $90‚000 income from the partnership and $0 income from the corporation | | | | $90‚000 income from the partnership and $90‚000 income from the corporation | | | | None of the above
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From 1619 to 1865 blacks were treated as if they were no human but objects. They worked long hard days with no pay and not even enough food to fill their stomachs. The true definition of slave is a civil relationship in which one person has absolute power over the life‚ fortune‚ and liberty of another. Slavery first began when the first group of slaves were brought to Virginia in 1619. As they arrived they were to work in cotton fields during any type of weather. From early morning to late at night
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Tax Research Project #4-63 Facts: • Ann is a graduate economics student at State University. • State University awarded her a $1‚000 scholarship. • She works as a half-time teaching assistant in the Economics Dept. at State University and is paid $7‚000 per year and her tuition is waived; tuition is $8‚000 without waiver. • Her salary is equal to that paid to other part-time instructors. • Ann paid $500 for her books and supplies and she incurred living expenses of $7‚400. Issues: How
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