Recent Question/Assignment

LAW5230 Taxation Law Assignment
Due date: 14 September2020 Value: 40% Word Limit: 4,000 words (Part A 1,000; Part B 3,000)
Instructions Part A consists of a problem-solving scenario.
Part B is a research assignment.
You must complete both Part A and Part B
PART A
Catherine is a champion snowboarder who wants to train fulltime to prepare for the next winter Olympics. Catherine was born in Brisbane and had been living near the snowfields in Victoria for the past 5 years so she could work and train in Australia. She accepted an offer to train with a leading coach in Calgary, Canada, for three years after the Australian ski season ended in September 2019. She left Australia on 1 October 2019 for Calgary, and moved into a house with another snowboarder training with the same coach. When Catherine was not training she worked part-time as a ski instructor in Calgary.
Catherine returned to Australia for two weeks in April to visit her parents and attend her friend’s wedding. Other than the trip to Australia, Catherine was in Calgary from the time she arrived on 2 October 2019.
Catherine provided you with the following financial information for the year ended 30 June 2020:
• Salary from employment in Australia up to 1 October 2019: $9,000.
• Salary from employment in Canada after 1 October 2019: AUD$48,000.
• Prizemoney of $10,000 for winning a snowboarding competition in August 2019 in Australia.
• Sponsorship from a Canadian company for Catherine to use and advertise the company’s brand of snowboard in March 2020: AUD$30,000.
• Interest on her Australian bank account of $50 credited 30 June 2020.
• Interest on her Canadian bank account AUD$80, from which $20 withholding tax had been deducted by the bank prior to crediting her account on 30 June 2020.
Required:
i) Discuss with reference to legislation, case law and/or rulings whether Catherine would be considered a resident of Australia for tax purposes for the income year ended 30 June 2020.
ii) Discuss what amount Catherine should include in her assessable income in Australia? You should state whether the amounts are ordinary income, and discuss source of income and derivation, and reference legislation, case law and rulings.
LAW5230 – Taxation Law
Semester 2, 2020
Assignment Marking Criteria Sheet
PART A – Problem Solving Little
attemp
t F C B A HD
Identification of legal issues, legislation and case law
Overall the student has identified the relevant assessable income issues, legislation and where appropriate case law and rulings. 0 1 1.5 2 2.5 3
Application
Demonstrated level of understanding of the specific residency issues through the application of the identified law. 1 3 5 6.5 8 10
Demonstrated level of understanding of ordinary income and source issues through the application of the identified law. 1 3 5 6.5 8 9
Conclusions
Overall, the student has drawn appropriate and valid conclusions after applying the law. 0 1 1.5 2 2.5 3
Total out of 25
Description of Performance Standards:
HD – the student has shown a very high level of demonstrated ability in relation to the stated criteria by covering all valid points in a clear and succinct manner. The student may have also demonstrated an ability to think beyond the facts and recognise the broader implications of the facts, missing facts or alternate arguments.
A – The student has shown a high level of demonstrated ability in relation to the stated criteria by either covering all valid points or by covering the majority of valid points in a clear and succinct manner. The student may have very briefly or occasionally shown ability at the HD level.
B - The student has shown a good level of demonstrated ability in relation to the stated criteria by covering most of the valid points. The student may have made some minor incorrect statements or missed some minor points.
C - The student has shown a satisfactory level of demonstrated ability in relation to the stated criteria by covering the main valid points. The student may have made a number of minor incorrect statements but did make incorrect statements in relation to major points.
F - The student has not shown a satisfactory level of demonstrated ability in relation to the stated criteria by missing some main points or by making incorrect statements in relation to major points.
Little Attempt – The student has not addressed or attempted to address this criterion.
Part B – 75 Marks (3,000 words)
You are required to prepare a written research assignment that addresses one of the provided topics below. The purpose of the task is for you to demonstrate high level critical reflection and analytical reasoning skills in the context of the application of Australian taxation law and taxation law policy. You must undertake academic research which demonstrates the following:
• An in-depth understanding of how the specific tax law applies,
• The policy context of the law and if relevant how other jurisdictions deal with similar issues,
• Critical reflection as to whether the law achieves its stated purpose, aligns with principles of good tax policy or could be improved/amended. These critical reflections should be supported by the research you have undertaken as well as your own independent thought.
Topic Choices
1. Australia’s Individual Residency Rules
• Briefly outline the current tax rules for the residency of individual taxpayers in Australia;
• Discuss and critically evaluate the Board of Taxation’s recent suggestion to amend the residency rules, as well as recent case law; • Compare the Australian rules to the rules in one other country; • Conclude as to whether the current rules should be changed.
2. International Tax Avoidance
• Briefly outline why the avoidance and/or minimisation of tax by large multi-national corporations is of great concern to Governments and tax administrators;
• Discuss and critically evaluate at least one common method multinational corporations might use to avoid tax in Australia and a current strategy implemented by the Government that is used to prevent this.
• Compare the Australian rules to the rules in one other country; • Conclude as to whether the current rules should be changed.
3. Negative Gearing
• Briefly outline what is meant by negative gearing and how the Australian tax system treats negatively geared investments;
• Discuss and critically evaluate the extent to which tax-deductible negative gearing impacts upon savings and investment decisions, and recent election policies to amend the current rules; • Compare the Australian rules to the rules in one other country; • Conclude as to whether the current rules should be changed.
4. Small Business CGT Concessions
• Briefly outline the Small Business CGT Concessions in Australia;
• Discuss and critically evaluate the Small Business CGT Concessions in Australia, including the overall policy objectives and your evaluation of whether regime currently meets these objectives;
• Compare the Australian concessions to the concessions in one other country;
• Conclude as to whether the current rules should be changed.
5. Sharing Economy and Taxation
• Briefly outline the current tax issues surrounding the sharing economy (eg Uber and AirBNB) in Australia;
• Discuss and critically evaluate the Board of Taxation’s 2017 recommendations to overcome these tax issues;
• Compare the Australian rules to the rules in one other country; • Conclude as to whether the current rules should be changed.
LAW5230 Assignment Semester 2, 2020
LAW5230
Part B – Research
Assignment
Criteria Little attempt F C B A HD
Demonstrated technical understanding of the chosen tax law topic. No/little attempt made in relation to this criterion 1 Very little technical understanding of the legal topic demonstrate and/or many instances of incorrect understanding.
4 Sound technical understanding of the legal topic demonstrated with some instances of incorrect understanding.
7.5 Good technical understanding of the legal topic demonstrated, with few instances of incorrect understanding. 10 High level technical understanding of the legal topic demonstrated, with no/very few instances of incorrect understanding. 12 Very High level technical understanding of the legal topic demonstrated, no instances of incorrect understanding. 15
Ability to analyse and present practical applications of the law in the context of the overall paper, rather than simply describe the law. No attempt made in
relation to this criterion.
0 Did not demonstrated an ability to explain tax law concepts in the context of how it is relevant to practical applications.
3 Demonstrated sound
ability to explain tax law concepts in the context of how it is relevant to
practical applications in some instances. Some insightful and relevant applications made. 6 Demonstrated a good
ability to explain tax law concepts in the context of how it is relevant to practical applications in some instances. Practical applications were mostly insightful and relevant.
7.5 Demonstrated a very good ability to explain tax law concepts in the context of how it is relevant to practical applications in many instances. Practical applications were mostly insightful and relevant.
9 Demonstrated an
excellent ability to explain tax law concepts in the context of how it is relevant to practical applications in all instances. Practical applications were insightful and relevant. 12
Ability to demonstrate critical reflection on the topic researched incorporating independent thought
and ability to critically analyse research presented. No/little attempt made in relation to this criterion 1 Insufficient evidence of effective analysis, balanced evaluation, personal perspectives made.
4 Few instances of careful analysis of the research. Limited ability to balance and evaluate competing arguments in the literature and/or limited articulation of personal perspectives throughout paper.
7.5 Some evidence of careful analysis of the research. Some instances of an ability to balance and evaluate competing arguments in the literature as well as some personal perspectives throughout paper. 10 Evidence and multiple instances of careful analysis of the research. Evidence of an ability to balance and evaluate competing arguments in the literature as well as clearly articulated personal perspectives throughout paper. 12 Strong evidence and multiple instances of careful analysis of the research. Strong evidence of an ability to balance and evaluate competing arguments in the literature as well as clearly articulated personal perspectives throughout paper. 15
Ability to demonstrate independent, high quality research. No/little attempt made in relation to this criterion 1 Little evidence of quality and independent research. Many major sources overlooked. Very few sources from outside course materials. 4 Some evidence of careful, relevant, quality and independent research undertaken. Many major research sources/authors overlooked. A few sources from outside course materials.
7.5 Evidence of careful, relevant, quality and independent research undertaken. Few major research sources/authors overlooked. Some sources from outside course materials. 10 Evidence of careful, relevant, high quality and independent research undertaken. No major research sources/authors overlooked. Many sources from outside course materials. 12 Evidence of careful, relevant, high quality and independent research undertaken. No research sources/authors overlooked. Many sources from outside course materials and all high quality. 15
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LAW5230 Assignment Semester 2, 2020
Overall clarity of expression, use of grammar and appropriateness of the language and terminology for an academic research paper. No/little attempt made in relation to this criterion 1 No instances of sophisticated and academic language used. Many instances of incoherent. Lacks readability. 2 Few instances of sophisticated and academic language used. Somewhat clear and readable expression used throughout. Many instances of unclear expression. 3 Mostly sophisticated, clear and readable expression used throughout. Moderately academic language used throughout. Few instances of unclear expression.
4 Some sophisticated language, but otherwise, very clear and highly readable expression used throughout. Appropriate academic language used throughout. 5 Sophisticated, clear and highly readable expression used throughout. Very appropriate academic language used throughout.
6
Clear and logical structure, development of clear arguments, supported conclusions reached. No/little attempt made in relation to this criterion 1 Very little persuasive argument used in paper.
Little structure or flow. Many inconsistent / unsupported conclusions reached. 2 Somewhat persuasive argument built throughout paper. Some structure presented, though paper may have some flow problems, or inconsistent / not well supported conclusions presented. May have some
inconsistencies. 3 Moderately persuasive argument built throughout paper. Clear structure resulting in some supported conclusions/ recommendations with few inconsistencies. 4 Persuasive argument built throughout paper. Clear and logical structure resulting in some well supported conclusions/ recommendations.
5 Highly persuasive argument built throughout paper. Very clear and logical structure resulting in well supported conclusions/ recommendations.
6
Ability to use chosen referencing method appropriately and correctly No/little attempt made in relation to this criterion 1 Inability to use chosen referencing method appropriately and correctly. Inconsistent and fundamental errors. 2 Acceptable standard of referencing, citations and bibliography. Some fundamental errors. 3 High standard of referencing, citations and bibliography. Some minor errors. 4 Very high standard of referencing, citations and bibliography. Very few errors. 5 Very high standard of referencing, citations and bibliography. Almost no errors. 6
Total out of 75
TOTAL (out of 100)
General Comments
END OF ASSIGNMENT
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