Taxation law is a vast subject that requires the students to learn in-depth about different methodologies, acts, rules and theoretical concepts. Taxation law has a huge real-world application. This is the reason why most universities provide dedicated taxation law courses in advance level for students to understand and apply these laws in the real world scenario. Now, because taxation law is an elaborative subject, universities design comprehensive assignments to bring out learning outcomes from student undertaking the subject. However, these assignments are often so long and complex and are required to be done in very less time, thus, pursuing students to seek taxation law assignment help through guided sessions from experts online. Assignment Help Era is one of the leading assignment help through guided sessions providers for taxation law in countries such as Australia, U.K, Canada, New Zealand to name a few.Every country has its own set of taxation laws that every citizen must abide to in order for a smooth running of the economy and to develop better infrastructure, thus, improving the quality of life for the citizens of the country. Now, because taxation law in every country differs, the taxation law course curriculum is also diverse and so are the assignments. If you are a student in Australia who is studying taxation law, you can only find taxation law assignment help through guided sessions from legal experts based in Australia. Assignment Help Era has a team of Australian native legal experts and legal writers who understand in-depth about the different laws, codes of conducts and rules. These legal experts have years of experience studying case literature and are up-to-date with each and every modification in law. Not just this, experts at Assignment Help Era are also well-versed with the marking rubric and university specific guidelines required to write a flawless assignment.
Different Areas of Study in Taxation Law
Taxation Law assignments are of different kinds. Each major law comes with its own customised assignment. Students have to be well-versed with each unit and law in their course curriculum to write an error-free assignment. However, often students are burdened with multiple projects at once and are unable to focus on the assignments completely. Our legal experts for taxation law are proficient in providing the following services:
Our legal expert writers have written a number of taxation law assignments and the examples of the same are available on our website. For your convenience, here is a taxation law assignment that our legal experts delivered.
Assignment Question
Question 1 (5 Marks)
Hilary is a well-known mountain climber. The Daily Terror newspaper offers her $10,000 for her life story, if she will write it. Without the assistance of a ghost writer, she writes a story and assigns all her right, title and interest in the copyright for $10,000 to the Daily Terror. The story is published and she is paid. She has never written a story before. She also sells the manuscript to the Mitchell Library for $5,000 and several photographs that she took while mountain climbing for which she receives $2,000.
Requirement:
Discuss whether or not the three payments are income from personal exertion. Would your answer differ if she wrote the story for her own satisfaction and only decided to sell it later?
Question 2 (5 marks)
Your client is a parent who lent $40,000 to her son to provide a short-term housing loan. The agreement is that the son will repay $50,000 at the end of five years. Reconsider this question in light of the following facts. The loan was
made to the son without any formal agreement and without any security provided for the sum lent. In addition, the client (the mother) has informed you that she told her son that he need not pay interest. However, the son repaid the full amount after two years and included in his payment an additional amount which was equal to 5% pa on the amount borrowed. Only one cheque was presented for the total amount.
Requirement:
Discuss the effect on the assessable income of the parent.
Question 3 (10 Marks)
Scott is an accountant who purchased a vacant block of land in Brisbane on 1 October 1980. On 1 September 1986, Scott built a house on the land. At the time, the land was valued at $90,000 and the cost of construction was 60,000. The property has been rented out since construction was completed. On 1 March of the current tax year, Scott sold the property at auction for $800,000.
Requirement:
a) Based on the information above, determine Scott’s net capital gain or net capital loss for the year ended 30 June of the current tax year.
b) How would your answer to (a) differ if Scott sold the property to his daughter for $200,000?
c) How would your answer to (a) differ if the owner of the property was a company instead of an individual?