Taxation - Theory - Practice and Law by Free Sample

Question: Describe about the taxation, theory, practice law in australia. Answer: Issue To provide advice regarding a suitable taxation of the gathered revenue to a Chilean citizen for verifying his tax residency status on a kit Rule There is an act of paying tax regarding the residential position of an assessee. This tax will be imposed on that individual based on the residential status of that person by following the section 6 (1) of ITAA, 1936 (Burnett et al., 2015). Moreover, under this act, some tax ruling are also there like TR 98/17, which on the other and comprises of four test to find the ascertain of the taxpayer (ATO, 1995). 1. Domicile Test A person has to clear their tax payment even if they are residing in some foreign countries for any reason like for studying or for some professional reason. Thus, taken for an example, for an Australian citizen, who is living in the foreign territory, a test will be performed in order to analyse or evaluate their tax residency status in their home country (Woellner et al., 2012). The residential position of an assessee is resolute for every year compared to each previous year as the taxation amount may fluctuate from previous year to previous year. Thus, it is clinched that the Australian citizen has to pay the tax under Domicile Act 1982 (Mason, 2015). Another consequence is that, if a person has a permanent citizenship of some other countries for living for a longer period, even then also they have to be considered having an Australian domicile. Gonzales and Stuart, (2014) states that the destination country is capable of tracking the individual's location compared to the current residence relying on many factors by the Tax Commissioner as per the statement stated in Taxation Ruling IT 2650. The factors are discussed below: The citizen wants to relocate in some foreign country. The citizen was associated with some activity that makes them relocate their current location. The difference between the expected and actual interval of the staying period from outside Australia The frequency of the trip to the outside territory from Australia and the waiting time interval on that state 2. Superannuation Test According to Edmonds et al., (2015) illustrate that if an individual fulfilled some conditions regarding residency taxation, that person should be liable for paying tax for their resident as an Australian tax resident and is recognised by the Tax Commissioner. These two schemes are: Commonwealth Superannuation Scheme Public Sector Superannuation Scheme Joseph et al., (2015) mention that this test encompasses by considering the instruction of the federal government of Australia for the officers who are instructed to be posted on the foreign territory. It is also evident that the concerned person stayed outside of Australia but is currently associated with these schemes. Thus, the Australian citizen, who is also the taxpayer in Australian territory, would be considered as tax resident if the person is involved either of the two schemes which are mentioned above (Feng et al., 2014). 3. Residency Test There are some factors that are responsible for the payment of tax for an individual residing in Australia. Zelinsky, (2014) depict that the prime reason of such analysis as a residence cannot explain someones decree. As a result, in context of the relevant cases according to the tax rulings some undertaken verdicts and statement are highlighted: The current location of the individual The frequency with which the concerned person visits outside Australia The primary reason and the intensity of those foreign visit either for professional or personal commitments following the legislation of the judgement of the Levene v IRC [1928] AC 217 case (Miller Oats, 2012). The time interval for the person to stay in the foreign territory A particular duration of foreign visit especially in the home country that is in Australia 4. 183-day Test Dziurdz, (2013) illustrate that in order to test the taxation amount for a person, the Tax Commissioner tests whether the person stayed in the home country for a minimum period of 183 days for a single financial year. However, it is not necessary that the person has to stay in Australia continuously for 183 days; it may be in discounted form. Application In the given case study, an Australian resident named Kit currently works in the Indonesian oil rig due to some professional commitments. The person had a permanent abode in Australian territory and signed a contract in the home country also; however, the person retains with the Chilean citizenship. Moreover, the person has some possessions in Australia like an owned house and a joint account with the spouse in Australian bank, where on every month his salary credited. The person comes back to Australia for a month every after three weeks to spend some family time or visit South America for vacations. Thus, it is apparent from the above criteria and the learned legislations for the tax payment of residents; Kit must have to undergo for domicile test. Kit has nor planning to reside outside Australia and also maintain the current bank account in the home country. All these factors ensure the eligibility of Kit to be a part of Domicile test. Furthermore, Kit possesses an Australian domicile and is an Australian permanent resident, which is the foremost substantial requirement of the domicile test (Zelinsky, 2016). Thus, both the imperative conditions concerning the Domicile test is fulfilled by Kit and hence, the person is eligible for paying the Australian tax resident following the legislation of section 6(5) of ITAA, 1997. As per the rules provided by the Australian tax law, according to Sharkey, (2015), desired tax have to be paid by Kit for ordinary income that is the salary and investment income coming from Indonesia and income coming from residential land under the provision o f ITAA. Conclusion It is concluded that Kit is worthy to pay the residence tax and considered as Australian tax resident as the person satisfy the domicile test conditions that is own a house in Australia and maintain the current bank account. Australian tax law also imposes tax coming from the investment in foreign lands. References Balachandran, B., Hanlon, D., Tu, H. C. (2013, July). Tax-induced earnings management within a dividend imputation system. In Australian Tax Forum, Forthcoming. Burnett, C., Taylor, C. J., Wong, J. (2015). Qualification of Taxable Entities and Treaty Protection: National Report for Australia. CAHIERS DE DROIT FISCAL INTERNATIONAL: STUDIES ON INTERNATIONAL FISCAL LAW, 99. Cleary, P. (2016). Poles apart: Comparative resource sector governance in Australia and Norway. Australian Journal of Political Science, 51(1), 150-162. Dharmananda, J. (2014). Outside the text: Inside the use of extrinsic materials in statutory interpretation. Fed. L. Rev., 42, 333. Dziurdz, K. (2013). Article 15 of the OECD Model: The 183-day Rule and the Meaning of Employer. Brit. Tax Rev., 58, 1. Edmonds, M., Holle, C., Hartanti, W. (2015). Alternative assets insights: Super funds-tax impediments to going global. Eklund, E. (2015). Mining in Australia: An historical survey of industrycommunity relationships. The Extractive Industries and Society, 2(1), 177-188. Feng, J., Gerrans, P., Clark, G. (2014). Understanding superannuation contribution decisions: Theory and evidence. Fleischer, V. (2015). Two and Twenty Revisited: Taxing Carried Interest as Ordinary Income Through Executive Action Instead of Legislation. Available at SSRN 2661623. Gilligan, G., Bowman, M. (2013). State Capital: Global and Australian Perspectives. Seattle UL Rev., 37, 597. Gonzales, A. R., Stuart, D. B. (2014). Two Years Later and Counting: The Implications of the Supreme Court's Taxing Power Decision on the Goals of the Affordable Care Act. J. Health Care L. Pol'y, 17, 219. Hambur, J. R., Norman, N. R. (2013). Sector-specific effects of the Australian Mining Boom: Dutch Disease or Dutch Delight?. In Proceedings of the Cambridge Business Economics Conference, Murray Edwards College, Cambridge. Joseph, S.A., Walpole, M. and Deutsch, R., 2015. Taxation of sovereign wealth funds-A suggested approach. Journal of the Australasian Tax Teachers Association, 10(1), p.119. Mason, R. (2015). Citizenship Taxation. Southern California Law Review, 89. Miller, A., Oats, L. (2012). Principles of international taxation. AC Black. Piketty, T. (2014). Capital in the 21st Century. Cambridge: Harvard Uni. Reforms, U. D. T., Kleven, H. J., Schultz, E. A. (2014). Estimating taxable income responses using Danish tax reforms. American Economic Journal: Economic Policy, 6(4), 271-301. Sharkey, N. (2015). Coming to Australia: Cross border and Australian income tax complexities with a focus on dual residence and DTAs and those from China, Singapore and Hong Kong-Part 1. Brief, 42(10), 10. Shaw, A. (2012). 'Tax files: Wherever I lay my hat': That's my place of domicile. Wang, Y., Ho, W. H. (2013). Tax on capital income. Wheater, J. (2012). Residence and Taxation: The Gaines Cooper Case. Bus. L. Int'l, 13, 97. Woellner, R., Barkoczy, S., Murphy, S., Evans, C., Pinto, D. (2012). Australian taxation law. CCH Australia. Zelinsky, E. A. (2014). Apportioning State Personal Income Taxes to Eliminate the Double Taxation of Dual Residents: Thoughts Provoked by the Proposed Minnesota Snowbird Tax. Florida Tax Review, 15, 533.

History Parallels In Economy Essay Example For Students

History Parallels In Economy Essay Asone can see there are many striking parallels between the Gilded Age or the erafrom the eighteen eighties to the eighteen nineties compared to the Silicon Ageof the nineteen eighties to the nineteen nineties. The preconditions for thesetwo massive economic booms share similar birth paths laid in laissez fairepolicy, no regulation or deregulation and innovative booms. Before the 1880sthere was no real conflict between the welfare of the American people and thatof its business units. That happy relationship lasted only until the 1880s. Bigbusiness or Trusts, appeared in the United States during that decade. Once theywere established, it grew faster and to a larger size than it did elsewhere. Onereason was the absence of any countervailing force in America. A new countrymade up almost entirely of immigrants, who needed jobs, big business waswelcomed and a favorable economic policy provided a catalyst for there birth. These economic conditions gave rise to innovators, monopolists, and mostimportantly, rugged individuals who changed the landscape of the worlds economyforever. Their huge personalities went hand in hand with the vast size of theirempires. The problems big business raised provoked a powerful public responsethat immediately moved into the realm of the political economy and provided fora change in the leniency of laissez faire. In the closing years of thenineteenth century, the United States became the only major industrial power toenact legislation explicitly designed to curb the power of large corporations. Congress passed the Interstate Commerce Act in 1887, the Sherman Antitrust Actin 1890, and the Federal Trade Commission and Clayton acts in 1914. The ShermanAntitrust Act remains the most stringent in the world. The nineteen eightys andmore importantly Ronald Reagans election victory was the catalyst for theSilicon Age. Reagan and his re- clothed trickle down economics or Reaganomicsbrought laissez faire to a maximum point. Not only did he repeal or lay offenforcement of these anti trust and anti business laws, but went as far asdropping the Governments case anti trust cases. The stagnant equity marketsbegan to take flight and the greatest bull market continues 15 years later. Coupled with major tax cuts and financial market innovations, an era oftechnological revolution appeared. This Era would witness innovations and Titansthe likes as we have never seen before. What we call the New Economy is trulythe dawn of a new age, a Silicon Age. The numbers have been impressive: a 70%increase in real profits since 1990, inflation below 2%, 4.5% unemployment, plusrising real wages, even for the lowest paid workers. The 1990s have all theingredients in place for a further surge of innovation that could rival theGilded Ages. Over the next decade or so, the New Economy, so far propelledmainly by information technology may turn out to be only the initial stage of amuch broader flowering of technological, business, and financial creativity. Theeconomy seems to be undergoing a wholesale rejuvenation. Businesses, financialservice firms, and universities are reinventing themselves. Even politicians andpolicymakers are starting to grasp the new technological and economicrea lities.(Business Week). The New Economy or Silicon Age of the 21st CenturyEconomy will still resemble the economies of old in market behavior though. Eachinnovative surge creates economic and social ills, from recessions tostock-market crashes to widespread job losses, and this one wont be different. But thats the price a nation must pay to achieve the benefits of dynamicchange.

Sample Essay Paper - Using MS Word

Sample Essay Paper - Using MS WordNowadays, most people are now choosing to use a MS Word application to write an essay. There are a lot of advantages that you can get with this type of application. Writing an essay using a computer instead of having it done by hand is always a plus for any student to be given more credit for their hard work.Since the writing of the essay is now done online, you can get a lot of essays submitted to you without even getting up from your seat to read through them. This means that you do not have to stop studying for any other classes while waiting for the essay to be submitted. You can easily type and submit an essay for publication in your school, work or for essay competitions.The MS Word application is also known as the MLA format. It is very easy to learn and use. One of the best parts about this is that you do not have to type a word in the right order. You can use the keyboard shortcut button to type in a particular word in the right order.This d oes not mean that you will automatically have your essay in the correct format. It still depends on the style of the particular journal or college where you want to submit your essay. The short form for MLA is the Magical Markup Language format.The MLA format is a standard way of submitting essays for publication. This includes articles, short stories, research papers, thesis and dissertation. However, there are other types of essays that may require the use of other formats.There are several different ways to approach it, but the most common is to use the MLA format. Other formats like the APA, NASPA, Chicago Manual of Style, DAWG and others have been developed in the recent years. There are some instances where you can still get an article written in these formats by using a tool such as Microsoft Word.When you are preparing to write an essay, you need to consider all the different styles and formats. You can easily get caught up with the huge variety of choices but the important thing is to stick to the one that you know will be accepted by your school or the college. Once you choose the one that will work best for you, you can go ahead and get started with the writing.Once you are done with the MLA format, you can move on to another format. However, always consider the usage of MLA format first and only then move on to another format. Do not rush things because your teacher may consider the MLA format as an extension of the language used in the student's study manual. However, it does not mean that you have to submit an essay in the wrong format to get a good grade.

A Farewell to Arms Summary and Critical Analysis free essay sample

Ernest Hemingway was born on July 21, 1899, in suburban Oak Park, IL, to Dr. Clarence and Grace Hemingway. Ernest was the second of six children to be raised in the quiet suburban town. His father was a physician, and both parents were devout Christians. Hemingway had an aptitude for physical challenge that engaged him through high school, where he both played football and boxed. Because of permanent eye damage contracted from numerous boxing matches, Hemingway was repeatedly rejected from service in World War I.Hemingway also edited his high school newspaper and reported for the Kansas City Star, adding a year to his age after graduating from high school in 1917. After this short stint, Hemingway finally was able to participate in World War I as an ambulance driver for the American Red Cross. He was wounded on July 8, 1918, on the Italian front near Fossalta di Piave. During his convalescence in Milan, he had an affair with a nurse, Agnes von Kurowsky. We will write a custom essay sample on A Farewell to Arms Summary and Critical Analysis or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Hemingway received two decorations from the Italian government, and he joined the Italian infantry.Clarence Hemingway had been suffering from hypertension and diabetes. This painful experience is reflected in the pondering of Robert Jordan in For Whom the Bell Tolls. In addition to personal experiences with war and death, Hemingways extensive travel in pursuit of hunting and other sports provided a great deal of material for his novels. Bullfighting inspired Death in the Afternoon, published in 1932. In 1934, Hemingway went on safari in Africa, which gave him new themes and scenes on which to base The Snows of Kilamanjaro and The Green Hills of Africa, published in 1935. In 1950 he published Across the River and Into the Trees, though it was not received with the usual critical acclaim. In 1952, however, Hemingway proved the comment Papa is finished wrong, in that The Old Man and the Sea won the Pulitzer Prize in 1953. In 1954, he won the Nobel Prize for Literature. On July 2, 1961, he died of self-inflicted gunshot wounds. He was buried in Ketchum. Papa was both a legendary celebrity and a sensitive writer, and his influence, as well as some unseen writings, survived his passing.In 1964, A Moveable Feast was published; in 1969, The Fifth Column and Four Stories of the Spanish Civil War; in 1970, Islands in the Stream; in 1972, The Nick Adams Stories; in 1985, The Dangerous Summer; and in 1986, The Garden of Eden. Hemingways own life and character are as fascinating as in any of his stories. On one level, Papa was a legendary adventurer who enjoyed his flamboyant lifestyle and celebrity status. However, deep inside lived a disciplined author who worked tirelessly in pursuit of literary perfection.Being married before or after doesn’t effect the child physically or delays its birth. Marriage in this sense is the outward form of their love. Marriage in the physical sense before or after the fact means nothing as with Catherine’s early comment of â€Å"I couldn’t be any more married. † Henry and Catherine surely learned that they were in love no matter married or not. Having a ring on the finger doesn’t make the love any stronger it just a psychical representation of their love. Henry ignores the temptations of the outward forms of religion, love, and symbols as he achieves becoming authentic.The conclusion of â€Å"A Farewell To Arms† with all its death is marked by a rebirth. Henry looses his child and his lover. He finally achieves the status of being authentic in the final scene â€Å"It was like saying good-by to a statue. After a while I went out and left the hospital and walked back to the hotel in the rain. † Henry prior to Catherine death was seeking hope. During Catherine’s final hour Henry prayed to God once more only to go unanswered: Please, please, please, dear God, don’t let her die. Dear God, don’t let her die. Please, please, please, don’t let her die.God please don’t make her die. I’ll do anything you say if you don’t let her die. You took the baby but don’t let her die. That was all right but don’t let her die. Please, please, dear God, don’t let her die. He now knows all the things around him are false. Henry now knows the true forms of religion, patriotism, and love are empty forms of hope. He know knows that any hope must only come from within. Henry is now an authentic in that â€Å"He walks quietly back to the hotel in the rain. † and knows that only he can shape his destiny.

Historic Map Overlays in Google Maps

Historic Map Overlays in Google Maps Technology makes it fun these days to compare maps of the past with their modern-day equivalents to learn just where the nearest cemetery or church may have been or why your ancestors went to the next county to record their familys deeds and vital events. Historical overlay maps, which have been available for Google Maps and Google Earth  since 2006, make this type of cartographic research very fun and easy.  The premise behind a historic overlay map is that it can be layered directly on top of current road maps and/or satellite images. By adjusting the transparency of the historic maps, you can see through to the modern-day map behind to compare the similarities and differences between old and new maps, and study the changes in your selected location over time. A great tool for genealogists! Hundreds, and more likely thousands, of organizations, developers, and even individuals have created historic overlap maps for the online tool Google Maps (nice for people who dont want to download the Google Earth software). 120 historical maps from the David Rumsey Map Collection, for example, were integrated into Google Maps last year. Additional historic map overlays you might want to explore include  North Carolina Historic Overlay Maps,  Scotland Historical Map Overlays,  Henry Hudson 400  and  Greater Philadelphia GeoHistory Network. If you really love these historic overlay maps, you may want to download the free Google Earth software. There are many more historic map overlays available through Google Earth, than through Google Maps, including many posted directly by Google. You can find the historical maps in the sidebar section titled layers.

How the UK Prime Minister should implement the fiscal policy at the Essay

How the UK Prime Minister should implement the fiscal policy at the time of recession - Essay Example Fiscal policy can be used to curb economy shocks such as recession. This paper is a critique of how the prime minister of UK can implement fiscal policy at the time of recession and the economic consequences of the policy. The government can decide to use taxation to regulate the economy by introducing tax incentives or increasing taxation to finance investments. An increase in income tax decreases the net income of individuals. This has the effect of lowering labour productivity as workers do not want to work more hours since they are demotivated.Others may decide to work more hours in order to cover the raise in tax .On the other hand, lowering the starting rate of income tax leads to increased labour productivity and efficiency and also labour supply hence decreasing the level of unemployment and increasing economic growth (Creel & Sawyer, 2009). Indirect taxes have the effect of increasing or lowering demand for goods and services. An indirect tax on goods such as duty leads to increase in its price and consequently decrease in demand and vice versa. On the other hand, if the government decides to give tax incentives to producers, this will decrease the cost of production and consequently the price of the products. As Barrell (2004) notes, reduction in prices has direct impact of increasing demand for the commodity hence increased economic activities. Taxation is also a tool for attracting domestic and foreign investments. If a government wants to attract investments, it reduces corporation taxes as well as business taxes. This in turn encourages fixed capital investments by businesses in terms of new machines, technology advancement, developing workers skills as well as developing infrastructure hence more economic development (Creel & Sawyer, 2009). Government also can give tax allowance on research and development and consequently more businesses are set up creating more employment and increasing

Babbitt by Sinclair Lewis Essay Example | Topics and Well Written Essays - 750 words

Babbitt by Sinclair Lewis - Essay Example Examples of these contradictory human traits abound throughout the novel. George believed in material possessions as definitions of his worth, but his discontent with them is evident thus: He hadn't even any satisfaction in the new water cooler! And it was the very best of water coolers,..(p. 26 Chp. 3). His weakness regarding attempts to stop smoking is frequently portrayed, with little plans to thwart himself, such as locking his cigars in a filing cabinet and hiding the key, and his many promises to quit. After his Maine vacation, he had to leave the train to buy a cigar, then later our days later, he again remembered that he had stopped smoking, but he was too busy catching up with his office work to keep it remembered.(p. 116 Chp. 12) When he found himself accepted as a good orator, at the real estate convention, he was full of bombastic pride, but also a simple pleasure in having his ability so recognized. guess some of the folks on Floral Heights will sit up and take notice now, pay a little attention to old Georgie!(p.128 Chp. 13) There is much endearing boyishness in his enthusiasms and frequent attempts to improve in many areas of his life. His continuing success as an orator has something sadly nostalgic about it, as Babbitt harks back to his unfulfilled desire to have been a lawyer. His snobbery and social climbing were evident when, after the alumni reunion, he and Mrs. Babbitt gave a disastrous dinner party for the rich McKelveys. He rationalized the fact that these people would not be their friends by telling his wife ut I like to have a chance to visit with you and the children instead of all this idiotic chasing around.(p. 152 Chp. 15). hey did not speak of the McKelveys again.and these words were applied to the Overbrooks, whom the Babbitts considered beneath them, again after an awkward dinner. Both instances demonstrated the good and bad in Babbitt's character and values. Love and loyalty were shown where Paul Reisling was concerned. Babbitt defended his friend, managed a week of freedom for him from his nagging wife, Zilla and rushed to the prison after Paul shot her. 'm not going to be moral, I just want to do anything I can.(p. 204, Chp. 22) He even offered to perjure himself to get Paul his freedom. With his family, although he found them hard to tolerate, Babbitt showed concern always for their well-being and futures. He spent time with Tinka and Myra and never ignored Ted or Verona, despite their annoying him. When he changed radically in his attempts to break away from his conventional life, he seemed to embrace all that was opposite to his previous character, drinking, dancing, having the affair, and criticizing his old friends. But he showed kindness, loyalty and love when Myra got sick, and returned to being the character first portrayed at the beginning of the novel. There was a depth of self-awareness in the handling of Ted's youthful marriage and desire to leave university. His reactions and advice to his son showed him as an empathetic and even likable character, despite what is known about him. 've never done a single thing I've wanted to in my whole life! I don't know's I've accomplished anything except just get along....Take your factory job if you want to...Don't be scared...of yourself, like I've been. Go ahead old man! The world is yours!(p. 305 Chp. 34) In