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Taxation Case Study - Miscellaneous Taxation Rulings

   

Added on  2020-03-23

9 Pages1661 Words41 Views
Running head: TAXATIONTaxationName of Student:Name of University:Author’s Note:

1TAXATIONTable of ContentsIssue:................................................................................................................................................2Laws:................................................................................................................................................2Application:.....................................................................................................................................2Conclusion:......................................................................................................................................7Reference List:.................................................................................................................................8

2TAXATIONIssue:The given case study shows that Charlie worked as the agent of the real estate for ShineHomes Private Limited. He was given a sedan. The issue at present is dependent on thedetermination of the fringe benefit consequences of Charlie and Shine Homes. Based on theSection 6 of the Miscellaneous Taxation Rulings and Fringe Benefit Tax Assessment Act1986 there are some cases in which the tax on fringe benefits is levied on the cars (Barkoczy,2016).Laws:a.Section 6 of the Miscellaneous Taxation Rulingsb.Fringe Benefit Tax Assessment Act 1986c.taxation rulings of MT 2027d.sub-section 136 (1) of the Miscellaneous Taxation Rulings of 2027e.section 51 of the Income Tax Assessment Act 1997f.Lunney and Hayley v FCT (1958)g.Newsom v Robertson (1952) 2 All ER 728; (1952)h.Simon in Taylor v Provan (1975) AC 194i.Tubemakers of Australia Ltd v. FC of T93Application:The paragraph 3 of the Miscellaneous Taxation Ruling states that details of any type ofthe business utilities of cars need to be incorporated in the log book or any sort of file due to thebusiness kilometres which have been travelled using the operating cost method. Any kind of

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