Hire Australian Assignment Writers to Write your Essay, Dissertation & Other Papers

# HI6028 Taxation Theory, Practice & Law T1 Assessment Answer-Holmes Institute Australia

## Purpose of the assessment (with ULO Mapping)

Students are required to follow the instructions by your lecturer to confirm any relevant information. You also need to follow any relevant announcement on Blackboard to confirm the due date and time of the assignment.   The individual assignment will assess students on the following learning outcomes: Demonstrate an understanding of the Australian income tax system, the concept of FBT, Ordinary Income, deductions, general anti-avoidance provisions, and income tax administration. (ULO 1). Identify and critically analyze taxation issues. (ULO 2). Interpret the relevant taxation legislation and case law. (ULO 3). Apply taxation principles to real-life problems. (ULO 4).

### Question 1

Calculate Total Assessable Income, Taxable Income, Tax Liability, Student loan (HECS), Medicare Levy, and Medicare Levy Surcharge if applicable, for the taxpayer (Susanne) with the information below:

1. Susanne is a single and Australian resident who plans to lodge a tax return for the tax year 2020 – 2021.

2. Her total taxable income is \$90,000 (Including tax withheld).

3. She does not have private health insurance.

4. Susanne has a student loan HECS outstanding for her previous study at Sydney University of \$53,000.

5. Her employer pays a superannuation guarantee charge of 9.5% on top of her salary to her nominated fund.

6. Susanne earned a passive income of \$10,000 from the investments in shares in the same tax year.

## Question – 2

Part-A

What is ‘fringe benefit tax (FBT)? Explain at least five main salient features of the FBT?

Part -B

Calculate the taxable value of the fringe benefit using the statutory formula in the following case context:

Carron provides his employee (Rabbie) with the use of a Nissan Xtrail car 196 days during the FBT year. During the period, the car traveled 15,000 km. Carron purchased the car last year for \$45,000. Rabbie contributed \$1,500 towards the cost of running the car and has provided Carron with relevant documentation.

### Academic Integrity

Holmes Institute is committed to ensuring and upholding Academic Integrity, as Academic Integrity is integral to maintaining academic quality and the reputation of Holmes’ graduates. Accordingly, all assessment tasks need to comply with academic integrity guidelines. Table 1 identifies the six categories of Academic Integrity breaches. If you have any questions about Academic Integrity issues related to your assessment tasks, please consult your lecturer or tutor for relevant referencing guidelines and support resources. Many of these resources can also be found through the Study Sills link on Blackboard.

Academic Integrity breaches are a serious offense punishable by penalties that may range from deduction of marks, failure of the assessment task or unit involved, suspension of course enrolment, or cancellation of course enrolment.

Table 1: Six categories of Academic Integrity breaches

Source: INQAAHE, 2020

If any words or ideas used in the assignment submission do not represent your original words or ideas, you must cite all relevant sources and make clear the extent to which such sources were used.

In addition, written assignments that are similar or identical to those of another student are also a violation of the Holmes Institute’s Academic Conduct and Integrity policy.

The consequences for a violation of this policy include a range of penalties varying from a 50% penalty through suspension of enrolment. The penalty would be dependent on the extent of academic misconduct and your history of academic misconduct issues.

All assessments will be automatically submitted to SafeAssign to assess their originality.

For further information and additional learning resources please refer to your Discussion Board for the unit.

#### Get Custom Help With Experts

Do you want to get the law assignment help services? Are you looking for an expert assignment helper who can write your assignment for you at a cheap price? Then buy online assignments from the expert assignment writers of AustraliaAssignmentHelp.com.

## Private and Confidential

Yours all information is private and confidential; it is not shared with any other party. So, no one will know that you have taken help for your Academic paper from us.