Assignment Task
Outcomes Submission of a written assignment online based on the following unit learning outcomes:
Explain and appraise the sources of taxation law within Australia.
Analyse and research complex problems relating to Australian Taxation Law and apply to solve diverse range of tax?related problems.
Think creatively to identify solutions to taxation problems based on thorough analysis, legal reasoning and research.
Communicate legal principles, problems and possible solutions to relevant stakeholders.
Assessment conditions Review the law, analyse questions and case studies, and write your answer.
If you are unsure of what is expected of you or the standards to which work must be completed, you may discuss this with your lecturer.
Materials and resources required To be deemed knowledgeable in this unit, you will require access to a range of information as listed below:
gather, convey and receive information and ideas
use legislation and case law
analyse questions and hypothetical case studies
QUESTION 1
Amelia is a laboratory assistant at Parramatta Pathology a drive?through COVID?19 Pathology Collection Centre. In August 2021, she goes to see John, a tax advisor, to do her tax return and wants to know if the following expenses are allowable deductions:
Amelia incurred $330 travel expense to and from work.
Amelia received a $207 speeding fine when she was running late to Parramatta Pathology for an emergency visit.
When working evening shifts, Amelia purchased $570 food from the Pathology café bar.
Amelia made phone calls from her home phone to Parramatta Pathology after hours to check her work schedule with her supervisor; this costs Amelia $200.
Amelia paid $18,200 childcare expenses for her two?year?old child.
Payment of white’s uniform which are compulsory for pathologist to wear at work $200.
Amelia moving expenses of $950 from her home in Brisbane to relocate in Parramatta, NSW.
Travel expenses of $320 to Parramatta Pathology to attend the job interview.
Required:
Advise Amelia of the deductibility of the above?mentioned transactions. Your answer must include references to relevant tax law and or cases.
QUESTION 2
Oliver is a carpenter who purchased a vacant block of land in Perth on 1 October 1980. On 1 September 1986, he built a house on the land. At the time, the land was valued at $60,000 and the cost of construction was $40,000. The property has been rented out since construction was completed. On 1st March 2021, Oliver sold the property at auction for $600,000.
Required:
According to the information above, determine Oliver’s Net Capital Gain or Loss for the year ended 30 June 2021.
How would your answer to (a) differ if Oliver sold the property to his son for $100,000?
How would your answer to (a) differ if the owner of the property was a company instead of an individual?.
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