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A Letter Of Advice Assignment

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Added on  2020-05-28

A Letter Of Advice Assignment

   Added on 2020-05-28

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Running head: LETTER OF ADVICE Letter of Advice:To JINAL SHAHFrom Tax Accountants Dt: 15-01-2018According to the Australian Taxation Office an individual is required to include theamount derived during the accounting year from both the Australian sources and the overseassources. In important considerations in this regard is that a person paying tax is required toenhance their financial conditions by creating a balance between the income generated andthe expenses occurred so that the person would be able to stabilize the overall value of taxthat is applicable on the individual. At the time of filing the tax return of Jinal Shah it is found that you have reported lossthat is arising out of the greater amount of expenses reported by you in respect of the comethat is generated from the salaries and investments. I would further like to bring into yournotice that the there is a higher amount of loss suffered by you and as a result of this the totalamount of deductions reported by you would not be eligible for claiming an allowablededuction. As the matter of suggestion you are therefore advised to eliminate the unnecessarytransactions in an attempt to minimize the loss. Additionally, it has been noticed that you have reported the dividends income in theform of shares that is held in BHP, CBA, COH etc and as a result of this you will be entitledto franking credits for each of components of shares held by you. On the other hand, youhave reported an work related car expenses that amounts to $9,533. The interest on loanreported by you would be considered as allowable deductions along with the donations andgifts that is made by you. It has been reported that you have reported a expenses related to
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