Country : India

Assignment Task

Assessment Detail

The Assessment consists of essay type questions on the different topics of taxation law. You are required to support the answers for the questions with the relevant sections of the law, taxation law principles, relevant court cases and literature review.

 

QUESTION 1

Determine whether the following benefits are fringe benefits or exempt fringe benefits and, where applicable, the relevant category of fringe benefit. Provide reasons for your answer:

(a) Payment of employee's superannuation contribution by the employer to a complying superannuation fund.

(b) Loan by Company X to one of its directors, Rupert, who is also a shareholder in the company. The Company's rules do not permit loans to directors.

(c) Provision of a car for an employees private use, including payment of all fuel costs by the employer.

 

QUESTION 2

Assess what CGT events apply to the following transactions:

(a) You sell shares in Shell for $5,000.

(b) You sell your holiday home at Gold Cost for $750,000.

(c) You sell a diamond ring for $20,000. You paid $12,000 for the ring in 1984.

 

QUESTION 3

Assess whether GST applies to the following supplies.

(a) The provision of audit by an accounting firm

(b) The sale of a holiday home

(c) The state of fruit by a supermarket

 

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  • Posted on : November 17th, 2022
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