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An omission to act is only punishable if there is a legal duty upon a person to act positively”. List the instances in which a person has a legal duty to act positively.


iscuss the law of Taxation in Australia including the following criteria(refer to the relevant legislation and cases):(a)The legislation involved –particularly the Income Tax Assessment Acts 1936 and 1997 –why both? –and the New Tax System legislation;(b)The foundation of our tax system –a mixture of direct and indirect taxation;(c)Goods and Services Tax and Capital Gains Tax –a brief study.
Why should SBEs receive certain tax concessions compared to other types of entities? List some of these tax concessions that you are aware of. What are the incentives to give SBEs those tax advantages?
Required: How intellectual property rights could be legally protected in the following:
a) A published book containing a compilation of lyrics written by popular singer/songwriter, Amoli.
b) An arrangement of rusty car parts that Boris has placed in his front yard and that he considers to be art.
c) The logo for Australia’s largest bank.
d) Einstein’s theory of relativity.
e) A dress design that is generic.
Explain how and why a consumer would make use of s18 of the Australian Consumer Law (ACL).
Bik and Mart want to start a business together. The business will offer engineering consultancy services. Bik and Mart are both qualified engineers. The intended to employ Bik’s partner, Sally, on full-time basis as an administration assistant. Mart’s partner, Kama, will occasionally do some work to market, the business and will be paid at casual rates. The business will trade as ‘BM Engineers’. Bik and Mart are unable to decide on what sort of business structure would best suit their needs.
Required: Advise Bik and Mart of the advantages and disadvantages of suitable business structure.
Carbord Ltd (C) is a building materials wholesaler. On Monday morning C received a letter containing an order from a regular customer, Home Interiors Ltd (HI), ordering a certain number of gyprock sheets, with measurements, to be delivered to an address in Sydney the following Monday. C immediately posted its confirmation that the order was accepted. This letter would have ordinarily taken 2 days to reach HI’s place of business but, due to a strike affecting Australia Post, the letter was not delivered until Friday afternoon. On Friday morning, having not heard from C, HI, believing C were not able to supply the materials, ordered the same materials from an alternative wholesaler. HI sent a fax on Friday afternoon, before the mail was delivered, to C cancelling the order.

HI is now refusing to accept the gyprock sheets from C, or pay for them. Advise Carbord Ltd.
Watson Co becomes insolvent and placed into voluntary liquidation by its directors. Dissolve liquidators have been appointed as the company liquidators. On the winding up of the Watson Co, Dissolve liquidators have started distributions and Paul as ex-shareholder of Watson Co received $7,200 from the liquidators, which was inclusive of $3,000 unfranked dividend pursuant to the provision of Income Tax Assessment Act 1963, section 47(1). This distribution to Paul was from his $4,000 investment in the shares of Watson Co on 2nd February 2019.

Required: With reference to relevant provisions of ITAA 97 and ITAA 36, critically analyze the tax consequences of the above scenario for Paul. (10 marks, maximum 300 words).
Australian taxation law
Alex is a carpenter who purchased a vacant block of land in Sydney on 1 October 1980. On 1
September 1986, Alex built a house on the land. At the time, the land was valued at $110,000 and
the cost of construction was $100,000. Immediately, after the construction finished, the property
has been rented out. On 1 March 2019, Alex sold the property at auction for $1,400,000.
Required:
With reference to relevant legislation/case law, determine:
a) Alex’s net capital gain or net capital loss for the year ended 30 June 2019 using both Discount
method and Indexation method.
b) How would your answer to a) differ if the owner of the property was a company instead of Alex?
Due to COVID-19 impact, Watson Co becomes insolvent and placed into voluntary liquidation by its directors. Dissolve liquidators have been appointed as the company liquidators. On the winding up of the Watson Co, Dissolve liquidators have started distributions and Paul as ex-shareholder of Watson Co received $7,200 from the liquidators, which was inclusive of $3,000 unfranked dividend pursuant to the provision of Income Tax Assessment Act 1963, section 47(1). This distribution to Paul was from his $4,000 investment in the shares of Watson Co on 2nd February 2019.
Required: With reference to relevant provisions of ITAA 97 and ITAA 36, critically analyze the tax consequences of the above scenario for Paul
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