Assessment Brief Business Faculty Taxation Law TAL305 Level 300 Trimester 3 2020 Assessment Brief ASSESSMENT ONE TAL305_T3 2020 TAXATION LAW Assessment 2 Due: Week 11 Weighting: 30% Learning Outcomes:...

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Assessment Brief Business Faculty Taxation Law TAL305 Level 300 Trimester 3 2020 Assessment Brief ASSESSMENT ONE TAL305_T3 2020 TAXATION LAW Assessment 2 Due: Week 11 Weighting: 30% Learning Outcomes: a. Describe and explain the principles and operations of the Australian taxation system and the Tax Assessment Act b. Use and apply the concepts of assessable income and allowable deductions to calculate taxable income and tax payable for individuals and basic company operations c. Research and analyse examples of taxation cases to illustrate tax rulings d. Analyse, discuss, and apply problem-solving skills to resolve issues relating to taxation law and practice Description: Practical exercises assess students’ ability to apply theoretical learning to practical, real world situations. In this assessment students will be provided with a comprehensive case study of a fictitious client. The case study will include a range of taxation issues drawn from topics covered throughout the unit and students will be required to prepare a tax return for the client. The tax return and supporting documentation/schedules must be completed using suitable taxation software and with reference to the Australian Taxation Office website. Details of how to access the ATO site and use relevant software will be discussed throughout the subject. Students will be required to prepare a comprehensive Statement of Taxable Income together with supporting documentation, and also to calculate client tax payable based on the taxable income. Students must explain how each item in the calculation of tax payable has been determined. Details: This assignment is to be submitted by the due date soft-copy though learning management.The assignment is to be submitted in accordance with assessment policy stated in the unit Outline.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. Assessment Questions: Research any three of the following Australian cases involving a Taxation issue: 1. Weeks v. Federal Commissioner of Taxation - (25 January 2013) 2. Sanctuary Lakes Pty Ltd v. Federal Commissioner of Taxation - (24 May 2013) 3. TAN v FC of T, Administrative Appeals Tribunal of Australia, 21 December 2016 4. Walker v. Federal Commissioner of Taxation - (14 March 2017) 5. Kael v. Federal Commissioner of Taxation - (20 January 2017) 6. VO & ANOR v FC of T, Administrative Appeals Tribunal of Australia, 26 May 2015 https://www.ato.gov.au/law/view/document?src=hs&pit=99991231235958&arc=false&start=11&pageSize=10&total=952&num=2&docid=JUD%2F2017ATC10-444%2F00001&dc=false&tm=and-basic-weeks%20v%20FC%20of%20T Assessment Brief ASSESSMENT ONE TAL305_T3 2020 Write a report (Letter of Advice) as a tax adviser to your client outlining the following: • Case introduction. • Outline the Sections breached and explain why those sections were breached. • Discuss and critically ANALYSE the court/tribunal decision and the reason for the decision in view of the corresponding Act (e.g. GST, FBT, etc) • Provide recommendation how this case will have potential impact on financial planning. Maximum word limit – 1,000 words for each case. Proper referencing in accordance with school regulations. Submit this assignment on-line. TAXATION LAW Assessment 2