ACC3TAX S2 2017 Group Assignment TAX FRAMEWORK 代写
100%原创包过,高质代写&免费提供Turnitin报告--24小时客服QQ&微信：120591129
ACC3TAX S2 2017 Group Assignment TAX FRAMEWORK 代写
ACC3TAX S2 2017 Group Assignment
Group Assignment Instructions
Carefully read the instructions below before submitting your assignment
Due date: 11pm on Friday 22 September 2017 (Friday of week 9).
Weight: 15% of the total ACC3TAX assessment. Assignment will be marked out of 30 marks, scaled down to a
maximum possible grade of 15 marks.
Word limit: 1500 words (10% tolerance)
Groups: Groups of 3 students (any 3 ACC3TAX students, not required to be from the same workshop). It is
recommended you obtain your group members’ contact details and organise at least one meeting to discuss the
assignment case. Ensure you identify ALL your group members with their name and student ID on the coversheet of
the assignment.
ACC3TAX S2 2017 Group Assignment TAX FRAMEWORK 代写
Submission: Only one assignment per group must be submitted electronically via LMS. Submit your group
assignment in one single Word or PDF file. No hard copy required. Professional presentation and logical/legal
reasoning, with correct application of legislation and cases are part of the assessment. Similarity reports are
generated when assignments are submitted. If you receive a high similarity report, you may re-submit your
assignment as many times as necessary until the deadline. Re-submissions after the deadline will count as late
submissions and will be penalised in accordance with the Late Submissions Policy (see below).
Academic Integrity: All assignments are electronically checked for plagiarism and collusion. Assignments are also
checked for contract cheating (where a student submits an assignment which is not of their own authorship, e.g.:
purchase of assignments through specialised websites). Suspected cases of academic misconduct will be reported to
the Academic Integrity Adviser for the appropriate measures. Please refer to the Academic Integrity policy
(http://www.latrobe.edu.au/students/learning/academic-integrity) for details.
Late submission policy: Late submissions will be penalised in accordance with the Late Submissions Policy
(https://www.latrobe.edu.au/policy/documents/late-submission-of-assessment-tasks-policy.pdf).
Special Consideration and Extensions: Extensions to the deadline will be granted only on exceptional and
unforeseen circumstances in accordance with the Special Considerations Policy
(https://www.latrobe.edu.au/policy/documents/special-consideration-policy.pdf) and procedures
(http://www.latrobe.edu.au/policy/documents/special-consideration-procedures.pdf).
Referencing and assignment format: Acknowledge the source of any materials used in the assignment via footnote
references. For tips on acknowledgement, referencing and plagiarism please refer to:
http://www.latrobe.edu.au/learning/referencing.html. Always use academic formal language, ensuring your
paragraphs are written in a clear and logical way. Legibility and logical sequence are part of the assessment.
Assessment criteria: Assignments will be assessed against the SILOs for the assessment. In particular, assignments
will be assessed based on objective demonstration of the following:
1. Engagement of critical thinking and interpretation skills to correctly identify the issues to be analysed in the
case study.
2. Application of critical thinking, interpretation and analytical skills to develop a meaningful analysis of the
issue(s) previously identified, with detailed and analytical application of tax concepts, tax principles,
legislation and case law. Mere citation, transcription or repetition of theory, concepts, legislation and case
law without proper application will not attract any marks.
3. Correct application of tax concepts and case law principles to calculate tax liability. Calculations must be
supported by applicable notes, legislation and case law (where applicable).
4. Elaboration of a solution to the issues presented in the case study, referring to the elements analysed and
concluding the case.
Feedback: Specific written feedback will be provided via LMS. General verbal feedback will be provided in
workshops.
ACC3TAX S2 2017 Group Assignment
Graduate capabilities: The following Graduate Capabilities are assessed in this assignment:
Writing – Writing skills are assessed based on the quality of the arguments presented, marks are attributed
where student presents a well organised essay written in academic English, with logically sequenced and
coherent paragraphs and proper application of legislation and case law. A good essay must be clear,
objective, and easily understandable, and must provide a conclusion that is logically derived from the
arguments presented. Essays whose paragraphs are not logically organised, with tautological arguments and
poor syntax will receive less marks depending on the quality of the work presented.
Quantitative Literacy – Quantitative literacy is assessed based on the demonstrated capacity to correctly
interpret the information provided in the question as well as any informed values based on
Business/Accounting concepts and general knowledge expected from final year Business/Accounting
students.
Critical Thinking / Creative Problem-Solving - Critical thinking/Creative Problem Solving skills are assessed
based on the student’s demonstrated capacity to make reasonable, justifiable and original assumptions
leading to a correct and coherent conclusion grounded on legal provisions and case law precedents.
Group Assignment Case Study and Questions
Case study: Janet Brown
Janet Brown, a 55 year-old accounts manager employed by BMA Investments Ltd in Melbourne, is one of your
longstanding clients. On 23 August 2018 you receive an email from her (see below) with information for the
preparation of her 2017/18 tax return.
From: Janet Brown
Sent: Thursday, August 23, 2018 9:00:43 AM
To: Tax Accountant
Subject: Tax Return 2017/18
Attachments: Janet Brown – Payment Summary 2017/18
Dear Tax Accounting Team,
Please refer to my attached payment summary from BMA for the current income year. The information below may also
be relevant for the preparation of my tax return:
On 1 July 2017 I took a loan with BMA of $400,000 at an interest of 3% per annum to purchase an investment
townhouse in Newport/VIC. Of the total amount, I used $300,000 to buy the property, and I spent the balance
renovating my own house at Sesame Street.
Since 1 April 2017 I have been using a company car provided by BMA. It is a Mazda 6, which I drive to and from
work (but not to visit clients as BMA pays our taxi trips for that), as well as on the weekends. I’ve used it for
the whole income year, and BMA covered the cost of the car of $30,000 but I was required to pay for petrol, in
a total of $500 for the entire year.
I signed the contract to purchase the Newport townhouse on 10 August 2017 and it has been rented at $2,500
per month since 1 September 2017. On 01 October 2017 the tenants advised me that the roof was leaking, so I
spent $22,000 replacing the roof. I also installed a new air-conditioning system at the top floor on 10
December 2017 at a cost of $4,000 (I have all the receipts for these expenses).
On 15 March 2018 I sold 1,000 Telstra shares for $10,000. I had bought those shares in 2014 for $5,000. Still in
March this year I sold all my Orica shares that I had purchased in December 2017 for $10,000, but I only made
$6,000 on the sale.
I sold 3 little Russian Babushka dolls for $5,900 each one on eBay. I had purchased those dolls as a set of 5
(they came one inside the other) during a trip to Moscow 2 years ago. At that time I paid $1,000 for the whole
set, and I decided to sell them after I discovered a famous artist had made them.
ACC3TAX S2 2017 Group Assignment
I will forward to you in a separate email my private health insurance statements, however I can confirm that my details
have not changed from previous years and I remain adequately covered for the purpose of avoiding the Medicare Levy
Surcharge.
There is one more issue I need to discuss with you. In February 2018 the neighbours of my Newport townhouse have
taken me to Court arguing that my backyard fence had been placed on part of their block. I have spent $25,000 in
attorney and Court fees and unfortunately the Court decided that the fence was really over their property, so I had to
pay them $10,000 in damages on 10 May 2018. Could you please provide me with a separate letter of advice regarding
whether or not I would be able to claim the legal fees and the damages in the current year?
I look forward to hearing back from you with my statement of taxable income and completed tax return with
supporting schedules; as well as the letter of advice in regard to my legal fees and damages for my Newport
townhouse.
Thank you very much.
Kind regards,
Janet Brown
Required:
Considering the information provided in the case study above:
A) Prepare Janet Brown’s statement of taxable income and calculate her total tax liability (including Medicare
Levy) for the year ending 30 June 2018. State all calculations and include explanatory notes and supporting
schedules, applying legislation and case law.
(15 marks)
B) Prepare a letter of advice on the tax consequences in relation to the legal fees and damages paid by Janet for
the year ending 30 June 2018.
(10 marks)
C) Write a short explanatory note to BMA explaining any tax liabilities that may arise in connection with the
provision of benefits to Janet Brown. State relevant calculations and applicable legislation.
(5 marks)
(Total 30 marks)
ACC3TAX S2 2017 Group Assignment TAX FRAMEWORK 代写
