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Re: General Tax Cases

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Initiate

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1.) With reference to relevant legislation, case law and secondary sources, briefly explain different functions of taxation?

2.) Biannually Amandeep receives a holiday package from his employer, New Zealand Princess Cruises
tours and he is using this package with his family traveling in Australia interstates or moves to India to
visit his in laws. is it taxable or deductable??

3.) (i) John purchased new fridge to the shop - $800. In addition, his builder added more space to the
shop front. This cost him $22,000.
(ii) John ordered 1000 new T-shirts with printed City Conv’s logos for marketing purposes. These costs
him $1,500. With reference to relevant legislation and case law, advise John on the assessability and/or
deductibility of above events?

Would really appreciate it if you can elaborate it as much as possible!! Thank you!

@macfanboy 

1 ACCEPTED SOLUTION

Accepted Solutions
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Taxicorn

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@Jay20 

 

I can look at it but it won't be for a few days I have a lot of Homework to mark and classes to hold and they, of course, come first.

 

6 REPLIES 6
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Taxicorn

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@Jay20 

 

I don't think I should be doing your homework for you Smiley Happy

 

I have enough trouble with my own students trying to extract as much information as possible for assignments and HomeworkSmiley Happy

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Initiate

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Haha, true. But believe me, the homework is far bigger than what i have posted.

well, this are the parts where i am totally stucked at and would like if some expert can go through and suggest me. 

I do have basic idea about all of the questions but will be great if you have some free time and look into it.

lastly, its all up to you, Pal Smiley Very Happy

Cheers! @macfanboy 

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Best answer

Taxicorn

Replies 1

@Jay20 

 

I can look at it but it won't be for a few days I have a lot of Homework to mark and classes to hold and they, of course, come first.

 

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Initiate

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No worries. Thank you! @macfanboy 

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Taxicorn

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(2) Taxable

 

(3) $800 Instant write off

 

$22,000 would be a capital improvement and deductible over 40 years at 2.5%.

 

T-Shirts are deductible as an advertising cost.

 

Sorry but really busy at the moment....

 

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Initiate

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Really appreciate it. Thanks for the help! @macfanboy