Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Taxation Expert

Assignment

Part A

Describe why the payment to the taxpayer in FCT v Dixon (1952) 86 CLR 540 was assessable income but the payment in Scott v FCT (1966) 117 CLR 514 was not.

In your answer you must include the following:

i) A short statement in your own words of the facts of the cases.

ii) Identify the issues raised and relevant legislation in the context of ITAA97.

iii) Identify any cases and other sources of information relevant to the issues and legislation.

iv) Apply the law to the facts stating clearly why one taxpayer was assessable and the other was not.

Part B

Nigel is a professional percussionist and performs with the number of bands and orchestras. In order to practice, he set aside a special room in his house which is soundproof and contains a number of electronic sound equipment. The room is used only for practice or performance related purposes. He pays council rates, interest on house mortgage, repairs and maintenance, electricity and telephone expenses in connection with the house. He believes he must be able to claim tax deductions for all these costs together with depreciation on the room and equipment.

Describe the tax position to Nigel. In you answer you must:

i) Identify the tax issues which are raised and relevant sections of the legislation.

ii) Identify any cases and other sources of law or information that apply.

iii) Apply the law to the facts.

iv) Express a conclusion in regard to issues identified and indicate any other information required.

Taxation, Accounting

  • Category:- Taxation
  • Reference No.:- M92771

Have any Question? 


Related Questions in Taxation

Question 1corporations have been scrutinized as to the

Question 1 Corporations have been scrutinized as to the recording and valuation of taxes they owe. The determination of how much they will pay is a combination income and expenses they report. There are many tax rules an ...

Assignment tax-planning client letter on irrevocable trusts

Assignment: Tax-Planning Client Letter on Irrevocable Trusts, Gift Tax, and Estate Tax Suppose you are a CPA, and your client has requested advice regarding establishing an irrevocable trust for his two grandchildren. He ...

Assignmentcarrie a morgan age 45 is single and lives with

Assignment Carrie A. Morgan, age 45, is single and lives with her dependent mother at 426 Grouse Avenue, Allentown, PA 18105. Her Social Security number is 111-11-1112. 1. Carrie is a licensed hairstylist and operates he ...

Essay topics mandatorypick a tax topic topic of emerging

Essay Topics; Mandatory Pick a tax topic topic of emerging interest and write an essay of at least 300 words; provide at least 3 references. Internet research is expected. Assume the reader has no background information, ...

Overviewthe final project for this course is broken into

Overview The final project for this course is broken into two parts. The first part is the creation of a memorandum, which is outlined below. The second part is a PowerPoint presentation, which is outlined in Final Proje ...

Dq1tom an executive for a large corporation enjoys the

DQ1 Tom, an executive for a large corporation, enjoys the challenge of preparing his tax return. He is aggressive in preparing his return and searches through all the available publications to reduce his tax liability. I ...

Truefalse on tax1 an s corporation cannot incur a tax

TRUE/FALSE ON TAX 1. An S corporation cannot incur a tax liability at the corporation level. a. True b. False 2. S corporation status allows shareholders to realize tax benefits from corporate losses immediately (assumin ...

Acct 308 - individual income taxrhett and scarlett butler

ACCT 308 - Individual Income Tax Rhett and Scarlett Butler provide you with the following information for 2015: Rhett SS # 222-33-1234 Scarlett SS # 111-22-1234 Address: 1436 Franklin Pike Slippery Rock, PA 16057 In addt ...

Tax assignmenta1what code section discusses partnership

TAX Assignment A.) 1. What Code Section discusses partnership formation under the Internal Revenue Code? 2. How does this Section differ from a corporate formation under Section 351? 3. What does it mean when we say that ...

Research paper of gift taxestate tax systemwrite a research

Research Paper of Gift Tax/Estate Tax System Write a research paper explain tax popic of Gift Tax /Estate Tax System the follow must be addressed: 1.what is the tax benefit or tax implication of this topic? 2.Who does it ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro