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LAWS20060 - TERM 2, 2017
ASSESSMENT 1 - INDIVIDUAL ASSIGNMENT
Marks: 40% of the overall assessment for the course
Submission: Online via Moodle
Format: One file in .doc or .docx (MSWord) format.
Submissions in any other file format (e.g. .zip) will be treated as a nonsubmission.
Word limit: 2000-3000 words
Due date extended: Week 8 Wednesday (06-Sep-2017) 11:45 PM AEST
Return to students: Week 11 Friday (29-Sep-2017)
Extensions policy: The university policy on extensions of time will be strictly enforced. Extensions will only be considered if made via the online system and based on medical or compassionate grounds. Any extension application should be made before the due date for submission. Medical conditions should be supported by a medical certificate, and, since students are expected to start the assignment early, temporary or last-minute conditions are usually not grounds for an extension. Professionals are expected to manage their time to meet their obligations, so work or personal commitments are insufficient grounds for an extension.
Plagiarism: The university’s plagiarism policy will also be strictly enforced. If plagiarism is found, a minimum penalty is likely to be zero marks for the assessment. It could be worse.
QUESTION 1: 20 marks, 20% of the subject
Advise your client on how the following items will be treated for tax purposes under Australian tax law:
i. Webjet frequent flyer points received by a business analyst employed by a large business consultancy firm in relation to work related travel paid for by the firm
ii. amounts received by a crane hire company from its customers for a damaged crane
iii. a free overseas holiday received by a nightclub manager from an alcohol supplier
iv. the return to its members of excess funds raised by a canoe club for the purchase of additional canoes
v. a payment made by a television station to an Australian footballer for being named the best and fairest in the AFL
vi. Expenses relating to a building qualification for a building apprentice
vii. Expenses relating to a short course in art management in the hope of becoming an art director
viii. Expenses relating to work make-up and work dresses
ix. Expenses relating to travel between home and office
x. Expenses relating to travel between one employer and another employer
QUESTION 2: 20 marks, 20% of the subject
Manpreet is an international student studying an accounting degree at CQU, Sydney. She commenced her studies in term 1, 2016. In the 2016/2017 financial year she worked part time as an office assistant at an Accountant’s office to gain work experience in her chosen career and made $45,000 from that job. Manpreet also received $20,000 from her parents to assist her with her living expenses, and a $10,000 distribution from a trust account set up in India by her grandmother of which she paid $1,000 in foreign tax. She spent $18,500 on her studies, $2,000 on a computer and printer for educational purposes, and $500 on a new mobile which was required for work purposes.
Calculate Manpreet’s net tax payable for the 2016/2017 financial year, making reference to the taxation formula, the reasons for including or excluding specific items, your calculations, and the applicable tax law (sections of legislation and/or case law).
Assessment criteria
Evaluation Criteria
These criteria are a general guide as to the standard expected at the various levels. Characteristics indicative of the respective levels of achievement in the assignment are as follows. It is not necessarily the case that all these criteria will be met at a particular standard as there may be a superior performance on one of the criteria and not so satisfactory performance on another. High distinction standard
• The answer is very well written and clearly expressed
• There is a demonstrated appreciation and understanding of the issues involved
• The answer is well structured and logically organised
• Demonstrated mastery of referencing system
• There is evidence of a comprehensive analysis of the issues
• Conclusions are backed by well-reasoned arguments demonstrating a detailed insight and analysis of issues
• Comprehensive coverage of all relevant issues
• References are made to the appropriated legislation for particular issues
• Statutory provisions are analysed and interpreted correctly
• The legislation is applied to the particular fact situation in a competent manner
• Consideration is given to the operation of the common law
• There may be consideration of issues not raised in the tutorials and answer guides
Distinction standard
• The answer is well written and expressed
• The answer is structured and logical
• The issues have been reasonably well identified and appreciated
• There is correct use of referencing
• Issues have been analysed
• Reference is made to all appropriate legislation, although the analysis and interpretation is not as detailed and reasoned as for the high distinction standard
• The effect of the common law is considered
• There is a comprehensive coverage of the issues
• Occasional errors of law and legal reasoning may still be present
Credit standard
• The answer is generally well written and expressed
• The answer is structured and sequential
• Referencing is satisfactory
• Issues are identified and addressed
• There has been an attempt to analyse some of the issues
• The coverage of issues is reasonably comprehensive often with a good treatment and analysis of particular points
• Errors of law and incorrect reasoning may sometimes be present
• Statutory interpretation may require improvement
• Depth of treatment is often lacking in some of the issues
• Pass standard
• The answer is able to be followed and understood
• The answer could perhaps be better organised and structured
• The referencing may need improvement
• Issues may need to be identified and addressed in more depth
• Analysis when present may be incorrect
• Some familiarity with the legislation and its application is demonstrated
• Sometimes the conclusions reached are simple
• There may be several errors of law
• There may be quantities of material of marginal relevance included in the answer
Fail standard
• The answer may be significantly short of the required length
• The written expression is poor and difficult to understand
• The answer is poorly organised
• There has been a failure to identify and address the issues in the question
• Referencing is generally inadequate
• There is a lack of familiarity with the legislation and its appropriate application
• The reasoning and application demonstrated is poor
• Frequently there is much irrelevant material
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