ASSESSMENT TWO – CASE STUDY (30 MARKS) – DUE WEEK 5
REQUIRED
Prepare a letter of advice to Joe and Angela advising on the deductibility of the various items they have presented you with for the 2016/2017 income year. (24 Marks)
Calculate the taxable income of both Joe and Angela for the 2016/2017 year. (6 Marks)
Your answers should include appropriate legislative, case or ruling references.
(Up to 2 marks will be deducted for failing to provide references and up to 2 marks for not providing an appropriate letter of advice format)
ASSESSMENT TWO (SOLUTION)
Letter of Advice to Joe and Angela
Macpherson Accounting
92 Graham Street
Singapore 359109
Phone: +65263948123
Email:
[email protected]13th December 2017
Board of Directors
David Thomas Limited
43 David Macaulay Street
Willy Drome DA6126
Dear Joe and Angela
A. Executive Summary
The Main Purpose of this letter is to advise Angela and Joe in respect to the deductibility of the numerous items that have been forwarded for the 2016/2017 Income year, that is ins respect to the yearly compliance services of both Joe and Angela for the year ended 2017 as there are assumption that all amount of total are GST exclusive unless if it been emphasized. The letter is to provide a recommendation whether both Angela and Joe should demands for rebate payment for their both known purposes or probably to declare for it. Forward it to the cu
ent or present financial year. The financial information or probably analysis emphasized in this letter is centred on the projected or estimated financial facts or statements provided by both Angela and Joe in their ve
al co
espondence in this information or detail. The financial calculations
eakdown can also be traced in this paper. The analysis will
ing out so many vital information’s in respect to additional payment or probably not to
each the debt alliance with their financial institution and other necessary details; Although there could likely be a
each among any of the party; With the fact su
ounding this issue; this is an issue of Husband (Joe) and Wife (Angela) commitment to their business but more of Joe commitment to Angela as well as it tax or rebate issues particularly Angela and also a situation of a real life practical engagement of both husband and wife including reaching for its both line which is very essential
B. Introduction and Realities
I have discovered that Joe involves in a painting activity in Australia. He hire a worker or apprentice who works from home. He is 59 years old as well as legally ma
ied to Angela who is also 56 years old. They both have two matured children. Angela involves herself in Book keeping for the painting business of Joe and Angela also works as a school pedagogue. They both have numerous investments. Here below are the following details of booth Angela and Joe
- Angela has collected a salary of $85,000 from the Department of Education. Also; Joe has provided Angela $20,000 fund from the business operating from her major contributions from the profits of the business activity. There is no...