Amber  and Jamie  taxation case advise

Amber and Jamie taxation case advise

Sample taxation assessment paper that advises Amber and Jamie who is a real estate agent working for ‘Houses R US’ on taxation consequences based on the transactions that they make. Taxation Assessment Item 2 Sample Paper Student Course Lecturer Date     Case 1 Sale of Boutique and Capital Gain Taxation Issue The issue in the first Amber case is whether the sale of the boutique chocolate shop in Sydney attracted any capital gain taxation or any form of exemption 1.2. Laws The Div Income Tax Assessment Act 1997 (ITAA97) defines a number of capital gain events with one of these events being event A1 which occurs when a capital gain tax (CGT) asset is disposed by the taxpayer. A CGT asset according to s 185-5(1) includes any kind of property which includes shares, land, premise, and goodwill among others. The aspects regarded assets were clarified in the Queen v Toohey clarified that property refers to something which can be transferred to others including both intangible and tangible items....
Read More