HI6028 TAXATION T3, 2015 ASSIGNMENT 2 Due date: Week 9

HI6028 TAXATION T3, 2015 ASSIGNMENT 2 Due date: Week 9

Maximum marks: 20 (20%) Instructions: This assignment is to be submitted by the due date in both soft-copy (Safe assign – Bb) and hard copy with the Safe assign report. The assignment is to be submitted in accordance with assessment policy stated in the Subject Outline and Student Handbook. It is the responsibility of the student submitting the work to ensure that the work is in fact his/her own work. Ensure that when incorporating the works of others into your submission that it appropriately acknowledged. Case study 1: FBT John is a senior executive with a printing company. As part of his remuneration package, his employer pays for his child’s school fees at a private school costing $15,000. His employer also provides him with accommodation in a Sydney apartment throughout the FBT year. John must pay $100 of rent per week for the apartment. The market value rent for the apartment is $800 per week. Advise John’s employer of the FBT consequences of John’s remuneration package. (10 marks, max. 1000 words). Case study 2: GST Wonder Sports is a large sports goods retailer. It purchases ‘sweet spot’ tennis racquets for $110 each from Aussie Tennis Goods, a large manufacturer of tennis products. Wonder Sports plans to sell the tennis racquets at a 200% mark-up to its customers. In January last year it purchased 100 racquets. However, in April, it discovered that 10 of these racquets had design faults and it returned them to the manufacturer and obtained a full refund. Explain the GST consequences of this arrangement for both parties. (10 marks, max. 1000 words).

 

Is this the question you were looking for? If so, place your order here to get started!