Financial Accounting Assignment Example | Topics and Well Written Essays - 1000 words

Budgetary Accounting - Assignment Example Despite the fact that the companys liquidity position has improved from 2010 to 2012, the organization should take further measures to improve its liquidity positions so the momentary commitments can be paid of at whatever point they are expected. The benefit proportions are utilized to measure the general gainfulness of an organization comparative with its degree of deals. The working overall revenue of the organization enrolled an expansion from 27.47% in 2010 to 31.98% in 2012. The working benefit expanded by virtue of impressive decline in the surprising costs of the organization. This shows the general operational proficiency of the organization has not improved and the expansion in working edge is the consequence of a diminishing in strange costs of the organization. Overall revenue of the organization saw an impressive increment from 11.09% in 2010 to 18.22% in 2012. The expansion in working benefits of the organization converted into better net benefit of the organization. Profit for resources and profit for value of the organization likewise gave indications of enhancement for the rear of an expansion in the companys by and large net gain. BEP proportion remained moderately stable in 2012 at 10.37% when contrasted wit h 10.49% in 2011. The obligation the executives proportions helps in surveying the blend of companys obligation comparative with value. Higher measure of obligation on the accounting report can be hazardous for the organization as it needs to make the fixed intrigue installments to the obligation holders. InBevs complete obligation to add up to resources tumbled from 50.45% in 2010 to 48.25% in 2011 and expanded marginally to 48.41% in 2012. The companys all out obligation expanded in 2012, anyway resulting increment in all out resources prompted a steady all out obligation to add up to resources proportion. The advantage the executives proportions helps in deciding the effectiveness of the benefits in producing a companys incomes. The stock turnover proportion of the organization has indicated slight improvement from 2010 to 2012. A consistent increment in companys incomes alongside resulting increment in complete stock has prompted a steady stock proportion. This

Copper Cycle Lab Report Essay Example

Copper Cycle Lab Report Essay Example Copper Cycle Lab Report Paper Copper Cycle Lab Report Paper All in all my percent recuperation of copper was 100% because of the sufficient measures of arrangements and accomplishment of legitimate concoction responses. Gear and Materials: Copper Metal (penny) Nitric Acid (HON..)(aqua) Sodium Hydroxide (Noah)(aqua) sulfuric ACid Ammonium Hydroxide (NH)(aqua) Hydrochloric Acid (HCI)(aqua) Zinc powder 2 100 ml Beakers 250 ml Waste Beaker 400 ml Beaker Filter paper Plastic Dropper 250 ml Erlenmeyer Flask Forceps Plastic Funnel Red Litmus paper Spatula Steel Wool Glass mixing bar Small test tube Tongs Wash bottle Watch Glass Procedure: l. Gauge a pre-1982 penny (ought to associate with 3 grams) II. Measure ml of concentrated nitric corrosive, HON..(aqua), into a 100 ml recepticle under a smoke hood. Spot penny into the measuring utencil of nitric corrosive and watch the response. Following 5 seconds expel penny with forceps and spot into second measuring glass. Sick. Include roughly ml of inhabitant water into second measuring glass to evacuate any outstanding copper particle follows and place wash into first container with nitric corrosive. Record your perceptions of the copper (II) nitrate, Cue(NON)2. Dry and gauge the penny to perceive the amount of the copper mass was evacuated. IV. Pour the arrangement from the primary measuring glass into a clean 250 ml container while inside the smoke hood.

We Really, Really Dont Miss the WASPS

We Really, Really Dont Miss the WASPS On December 5th, the New York Times ran an opinion piece entitled Why We Miss The WASPS. Yes, I understand that it was an  opinion piece, which by definition means the author was giving voice to his personal take on an issue. Having read Douthats essay, mostly with my teeth grinding and using the majority of my self control not to terrify the person sitting next to me on a cross-country flight with my muttering and fist clenching, I must, in good conscience, explain that he isnt fully advocating bringing back the old white male cabal of the 60sâ€"90s (not  fully) though he  is  most certainly in favor of bringing back their  values. As I am sure you will be shocked to read, I am very much  not in favor of touching those values with the 50-foot pole I keep in my closet for shoving them as far back into history as I possibly can before they get their cooties on me, my kids, my friends, or my worst enemies because, quite frankly, no one deserves that kind of infestation on their person or in whatever sort of entity they think their soul might be. But Shiri, you might be thinking, it was the era of family dinners and the America that was great and helping those less fortunate. It was not. It was the era in which people died of AIDS by the hundreds of thousands because the higher ups thought the word gay indicated deviance, America was supporting vicious dictators by the score and noblesse oblige wasnt  noble. Ah, but you want proof. Thats what books are for. I have a list. Thats what Im for. Roosevelt and Churchill: Their Secret Wartime Correspondence  Edited by Francis L. Lowenheim, Harold D. Langley, And Manfred Jonas (Saturday Review Press, 1974) I remember being shocked and horrified by the contents of this book when I read it for background an in-depth project a group of classmates and I were doing on Franklin Roosevelt for AP American History (though I did still love going to the Roosevelt library). In it are unredacted communiques sent between Roosevelt and Churchill, in the heyday of Douthats gilded lily of a political era, in which it is revealed (this is common knowledge now but wasnt during or after than war) that not only did Churchill and our own president know the attack on Hawaii was coming, they knew exactly when  and exactly where and they  allowed it to happen because it was the only way to convince the American people to join in the war effort. In addition, as far back as, I believe 1939 but definitely by 1940/41, both men knew about the Nazi death camps and made a conscious decision  not to do anything about them. Guess  noblesse oblige  was on sabbatical while millions of people were gassed or shot and burie d in mass graves. Cuban Missile Crisis: 1962 Alabama Security Archive Documents Reader  edited by Laurence Chang and Peter Kornbluh (The New Press, 1999) Reader, they declassified them. If you want additional data, the CIAs declassified assessment of the same showdown is  here (with some redaction of longer passages). The Short Version, folks: John F. Kennedy was not strong, silent, and stoic leading up to the Cuban Missile Crisis. He was talking to Kruschev and to Castro and those conversations are what brought us to be brink of being blasted to radioactive dust. Im not saying the fault was Kennedys alone, but his royal WASPness (yes, I know, he was Catholic; WASP is a state of mind here, folks, not a definitive checking of boxes) certainly didnt help matters. Kennedy didnt want to free Cuba from the tyranny of communism because he wanted to help the Cuban people. He wanted to liberate Cuba because he didnt want to be able to see Russia from his house. So much for Camelot. Iran-Contra: Reagans Scandal And the Unchecked Use of Presidential  Power  by Malcolm Byrne (University of Kansas Press, 2017) But Shiri, youre thinking, WWII? The Cuban Missile Crisis? Those were ages ago! Okay, fair enough. The Iran Contra Affair, however, I remember,  and Im only 40. Guess who was tied up in that garbage fire? Two of Douthats paragons of WASPdom: former Presidents Ronald Reagan and George H.W. Bush (who was Vice President at the time). Also embroiled: Robert MacFarlane (National Security Advisor), Caspar Weinberger (Secretary of Defense), members of Hezbolla (Lebanese Shiah Islamic political party; their paramilitary branch is the Jihad Council), Manuel Noriega (Panamanian dictator supported by the United States), Irans leadership, Oliver North (allegedly established the network that funneled funds to the Contras, charges dismissed in 1991), and John Poindexter (Deputy National Security Advisor/National Security Advisor). The quick and dirty is thusly: The U.S. government, and President Reagan in particular, were so terrified that communism might happen on this side of the Atlantic, he ha d his people set up a secret network to allow the sale of weapons to Iran during a period in which Iran was under an arms embargo  by Congressional decree. The money from those sales was funneled back through the network and delivered to Noriega to fund his Contras and support his horrific, murderous dictatorship in Nicaragua, lest the people be allowed to choose a government with which old white men did not agree. Regan never went down for this, nor Bush, nor anyone else really North and Poindexter were both convicted, but charges were ultimately dropped a few years later and both have gone on to have successful post-scandal careers, despite evidence of their chicanery. Good evidence. And in case youre wondering about the credentials of this particular books author? Byrne is the Deputy Director and Research Director of the National Security Archive. Somebody to Love: The Life, Death, and Legacy of Freddie Mercury by Matt Richards and Matt Langthorne (Weldon Owen 2016) Freddie Mercury died of AIDS-related complications in 1991; he was 45 years old. At the beginning of the epidemic, most people only survived 18 monthsâ€"3 years after diagnosis, but Mercury, due to his unusual financial situation, which provided for early access to new medications, survived for ten. Im a nurse when Im not wearing my Book Riot hoodie, and I remember watching  my first patient die of AIDS-related pneumocystis with her five kids in the room in 2006. AIDS is now, for most who contract it, a chronic disease to be managed rather than a death sentence, to the extent many have forgotten it even exists (a dangerous trend but thats a subject for a different post), but during the glorious days of the Reagan and Bush administrations, if one contracted HIV/AIDS, one died. There were many reasons that was the case, as  Somebody to Love, a split biography that runs parallel courses tracing both Mercurys story and the epidemiology of HIV/AIDS in the U.S. and the UK. Two of most abhorrent, however, were related: stigma and lack of education. Because HIV/AIDS was seen more prevalently in the gay community when it first appeared in the U.S. and UK, and among IV drug users, it was dismissed as a disease of deviants, righteous punishment for behavior that didnt fit the mold set by the evangelical protestants at the top of the pyramid. And because it didnt fit that mold, and because of the atrocious notion that educating people about ways to prote ct themselves would  encourage such deviance, at-risk populations were left to fend for themselves, hiding in dark corners (sometimes literally), taking risks because to do otherwise was to risk exposure and lose family, career, or lives. The money that could have gone to HIV/AIDS research and education went elsewhere and people died.  Even being as famous as the lead singer of Queen couldnt protect you. Speaking Truth to Power by Dr. Anita Hill (Anchor, 1998) Do you remember who appointed Clarence Thomas to the highest court in the land? I do. It was George H.W. Bush. Bill Clinton my have been a philandering bonehead but at least  he  gave us Ruth Bader Ginsburg. Bush, though? Clarence. Thomas. Do you think Anita Hill is the only one affected? Of course not. So read her story in her own words. Consider it rippling exponentially and then consider once more how much those old white men care about you, about your mothers and wives and your daughters. Not That Bad: Dispatches from Rape Culture by Roxanne Gay (Harper Perennial, 2018) We. Are. Still. Explaining. Ourselves. We. Are. Still. Begging. You. To. Believe. Us. We. Are. Still. Watching. Him. Get. Away. With. It. And you think going back to the days when the Prime Minister of France brought his Mistress to state functions, when one President used to sneak actresses into the White House and another used cigars as sex toys is going to make things  better? You think that just because we didnt  hear about Reagan or either of the Bushes dallying they didnt  do it? Look, if you dont like that bridge in Brooklyn, Pittsburgh has more than Venice and Im sure I can convince the city to cell you a couple of them. I dont mean this as a character assassination, I mean it to make a point: women dont mean anything to most of these men. Theyre the star on the top of the National Christmas tree, shiny and pretty, to be used, displayed, and discarded. And great bearded dude in the sky have mercy if we should dare to attempt protest: even if the husband supports us (and I wil l give Mr. Rodham Clinton that much), some other old, white dude whose name is something like Sernie Banders will interrupt us and shake his finger at us as though were an unruly child rather than a former First Lady, Congresswoman, and Secretary of State when all hes ever done is represent a state of retired hippies with too much money breathing too much methane from too many cow farts. Rape isnt about sex. Its about power. This group Douthat admires so much? Theyre still trying to take ours. We view that a little differently these days. Bummer for them. L.A. SON: My Life, My City, My Food by Roy Choi, With Tien Nguyen and Natasha Phan (An Anthony Bourdain Book, 2013) The menu in D.C. changes whenever a new administration comes to town. Old Ebbitt Grill is always the first to publish its new offerings or, at least, it used to be (I attended George Washington from 1996â€"2000 so things may have changed). We knew something new was coming with the Clintons because, while Mr. Clinton fits the WASP criteria to some extent, the menu options become less red meat saturated and included a lot more veggies than they had when Bush the elder was running things. The Clinton and Obama era menus also offered elements from other countries and cultures which hadnt been the case previously. Which is more representative of this whole thing than you might thing. Chef Roy Choi came over from Korea as a child. He grew up in L.A., first in a Koreatown revived by his community (every family in his neighborhood put money in a communal pot. Weekly, someone would get the pot to start a local business and then, once the business was off the ground, increase their weekly contribution to help someone else do the same). When his familys business failed, however, Roy was moved out of Koreatown and to a different part of L.A. where he started exploring other cuisines including Vietnamese, English, Middle Eastern, smoothies…and while becoming an L.A. son wasnt always easy for Choi, his journey through food, and through the nation, is what made him an American. Because it isnt homogeneity that brought us here. Its all of us, together, learning everything that makes us who we are and learning about one another. So how about if we just  dont. How about, if instead of being nostalgic for something that never was, we work toward what could be? What was always  meant to be. The  actual American dream? Instead of reaching for some false vision of what could have been, we look forward to potential, for something that actually  could be? Sign up for True Story to receive nonfiction news, new releases, and must-read forthcoming titles.

Hh Holmes - 2569 Words

H. H. Holmes A. Introduction: On May 16, 1861 Herman Webster Mudgett was born. His home town was Gilmanton, New Hampshire and he soon would become the notorious Dr. H.H. Holmes, Americas’ first Serial Killer. He was a small white male born into a devout Methodist family. Holmes’ mother Theodate Page Price forced strict religious studies while his father, Levi Horton Mudgett handed out the harsh, strong discipline. Holmes had one brother and sister. B. Intelligence, Social achievement, social adjustment in school: Holmes was thought to be unusually intelligent at an early age. With his great ambition and drive he excelled in school. He attended Gilmanton Acade3my High School, University of Vermont for one year, and in 1882†¦show more content†¦He was very charming and very attractive so he had no problems with he ladies. He always wore a hat and tie and came across as a well like, trusted businessman. I. Pathological behavior characteristics: H.H. Holmes’ pathological problems started at the age of eight with him starting to lie. His lies and scams grew along with his age and by the age of 25 he changed his name to H.H. Holmes to elude accusations from those he lied to and scammed. He continued to con and manipulate using his trusting looks and medical degree swindling thousands of dollars from insurance companies by taking cadavers from medical school, taking insurance policies out on them and telling the insurance that he was a family member to collect the money. Holmes was such a pathological liar and has given so many accounts about the number of people he has killed that to this day the true number is unknown. He always needed stimulation and a proneness to boredom, and was conning and very manipulative. He had numerous wives and had promiscuous sexual behavior by having several mistresses. J. Geographic Profiling: Holmes was considered to be a geographically transient serial killer. He moved from state to state killing in almost each one. He would move through the states because this was his way to elude capture or being suspected of the crimes he committed. After he changed his name in 1886 he settledShow MoreRelatedH.H. Holmes. After The Industrial Revolution Fabricated1593 Words   |  7 PagesH. Holmes After the Industrial Revolution fabricated society for nineteenth century America, many families were moving to the cities for new opportunities. Immigrants found a niche in society and life was beginning to flourish and build the nation into what it’s citizens know it as today. However, while most of the country was settling down, a man by the name of Herman Webster Mudgett, otherwise known as HH Holmes, had a different approximation of why he should move to the city. HH Holmes wasRead MoreThe Biological Causes For Serial Killers2877 Words   |  12 Pages )’. The first well known serial killer in the United States was H.H. Holmes in 1893. Holmes was born into a fortunate family, they weren’t bad off, and he was always smart, oddly smart at a young age. Holmes was intrigued by medicine and wanted to perform surgeries on little animals and did so; there are also theories that Holmes was involved in the death of one of his friends as a child. In college is when Holmes started becoming somewhat of a criminal, he began stealing dead bodies fromRead MoreShort Story942 Words   |  4 Pagesone Dr. HH Holmes to arrive. It had been under the cover of darkness, partially out of convenience and partially out of shame, that Dr. Shelton made his way to the Holmes hotel in Englewood, one of the fastest growing areas in Chicago. As the clocks struck midnight the door behind the front desk creaked open, Dr. Holmes appeared in front of him. The two exchanged pleasantries talking about their businesses, families, and the upcoming Worlds Fai r. The halls of the Castle, thats what Holmes businessRead MoreHand Hygiene Hospitals And Long Term Care Facilities1161 Words   |  5 PagesHand Hygiene in Hospitals and Long Term Care Facilities Hand hygiene (HH) has been the center of infection control efforts over the past two decades. This paper will compare and contrast implementation, adherence, and outcomes in HH related infection control policies and procedures between hospitals and long-term care facilities (LTCFs). Hand hygiene (HH) describes a more inclusive practice than hand washing to cleanse hands. HH does not refer to surgical hand antisepsis performed in surgical settingsRead MoreThe Kentucky Coalition Of Nurse Practitioners1766 Words   |  8 Pagesas it lowers risk of early death, coronary heart disease, stroke, hypertension, type 2 diabetes and so much more (U.S. Department of Health and Human Services [HHS], 2014). 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Movie Review Pretty Woman Directed By Garry Marshall

The movie being reviewed is a classic romantic comedy entitled Pretty Woman directed by Garry Marshall in 1990. Pretty Woman takes place in Los Angeles, California where a kindhearted prostitute Vivian Ward (Julia Roberts) meets an out of town millionaire Edward Lewis (Richard Gere), and they find true love despite their differences in true fantasy fairy tale fashion and live happily ever after. This film is particularly relevant to many aspects of our American Popular Culture class because it addresses the differences in class system, morality, materialism, and even gender and feminism roles. Pretty Woman began with a man yelling out from the street â€Å"Welcome to Hollywood, What’s your dream?† (Marshall, 1990). In my personal opinion, this was a major substantive point of the overall movie prearranged by the director. Directly after the analogous fairy tale Rapunzel rescue that Edward Lewis performed with Vivian Ward on the fire escape in the final scene of the movi e, that same man once again was walking the street yelling â€Å"Welcome to Hollywood, What’s your dream? Everybody comes here, this is Hollywood, the land of dreams! Some dreams come true, some don’t but keep on dreaming! This is Hollywood!† (Marshall, 1990). The film in its entirety plays out a fantasy or alternate reality for those who decide to watch. In true Cinderella fashion Edward Lewis takes Vivian Ward from rags to riches, and gives her everything imaginable from jewelry, shopping sprees, and a taste of

What Motor Is More Reliable Free Essays

The survey found that the Japanese brands Yamaha,Honda are more reliable brands. But to me Honda is more reliable to me because its cheaper to fix if it breaks and Yamaha has more hp and tuqort and is faster. Honda is just a all around good atv, dirt bikes because you have your 400ex and you crf250f. We will write a custom essay sample on What Motor Is More Reliable? or any similar topic only for you Order Now Yamaha is good for speed and racing atvs, and dirt bikes like your 400 bashanee and your yz450f.Honda is made in the US so everything is cheaper for parts and take less time to get to your destination. The next year, Honda marketed the handling-friendly ATC200X to beginners. honda’s first introduced the KLT200 – a three-wheeled atv – into the market in 1981. The company’s first four-wheeler in 1985 and was called the Bayou 185. The Bayou 300 4Ãâ€"4, honda first atv 4-wheel drive atv.Yamaha is made in japan and the parts cost so much because they have to ship cost The YZ250X is optimized for the unique demands of Hare Scrambles and GNCC ® racing. The YPVSâ„ ¢-equipped 249cc two-stroke engine is combined with a wide-ratio five-speed transmission for the ultimate cross-country power plant.Yamaha .com TOKYO, Japan, October 5, 2016 – Honda Motor Co., Ltd. and Yamaha Motor Co., Ltd. today announced that the two companies have begun discussions toward a possible business alliance in the Japanese market in the â€Å"Class-1 category*† which include scooters with a 50 cc engine or emy community does atv poker runs at least once a year to raise money for charity, i’ve seen almost every brand of atv and i will address them all, for the record out biggest ride was about 300 bikes Honda: their not the most powerful or fastest but their quality is by far the best, i’ve seen one break down Polaris: laughing stock, i don’t even know why people buy them, they do have power, but in a few years you will rebuild the whole bike Yamaha: a close second, they have very few problems, but its probably because most people don’t keep them stock and try to modify them to much Kawasaki: i don’t see many of them, but what i do see are impressive, a tie for second Can-am: i’ve only seen a few and they may beat honda on quality , but the price for a decent bike is ridiculous, their to pricey, but seeing less than a dozen, i can’t saylectric motor. Debate honda is the best .com . Some people like other atv brands that’s their opinion. How to cite What Motor Is More Reliable?, Papers

Fringe Benefit Tax

Question: Discuss about the basic amenities and facilities that are been provided by an employer to his employee. Answer: Fringe benefit tax refers to the tax amount that has been paid by the employer to the government authorities for the benefits that has been provided by him to him employee in relation to the employment services that has been offered by him. This tax has been levied with an intention to ensure that the employer of a company does not use these measures as a basis of tax evasion. The benefit that has been provided by the employer does not form part of the salaries and wages that has been offered to the employee. These are majorly non cash benefits which are provided to the employee to feel at home. This concept has been introduced with an intention to cover majorly all the basic amenities and facilities that are been provided by an employer to his employee. These benefits can be paid directly as well as indirectly by the employer. In Australia, the fringe benefit tax rate has been kept from higher side i.e. 49%. For every country we have some specified exemptions limit that they need to follow for determining the fringe benefit that is taxable in the hands of the employer. In order to ensure that the benefit provide by the employer to a person is covered under the definition of FBT if the person is being hired by the employer as an employee. Certain common examples of the fringe benefits provided to the employee are as follows: The insurance coverage of the employee has been borne by the employer. Educational assistance has been provided by the employer to the employee. The employer in this case may allow employee to work on flexible hours The office car that has been provided to the employee for the official use has been used by the employee for his personal use. Loan provided to the employee at a rate which is lower than the rate at which the loan is available in the market. In the given case, Periwinkle limited is engaged in carrying out the business of bath tab manufacturing in the country. Emma has been employed is the company is taking care of the outdoor business of the company. Thus as result, she has been provided a car which she is using for carrying out the official business work as well as for personal use. The car was purchased on 1st May 2015 and till March 31, 2016, the car ran for 10,000 Km. The car has been used by her for a period of 335 days between 1st May 2015 to 31st March 2016. Between these periods the car was parked at the airport for 10 days when Emma was out of station during this period. The car for a period of 5 days has under gone repairs. Thus, in short the car was used for 320 days by Emma for both official and personal use. In order to calculate the FBT rate it is important to determine the check whether the expense on which the FBT is required to be paid is inclusive of GST or not. In case the amount is inclusive of GST in that case, the expense amount is grossed up to 2.1463. On the other hand, in case the amount is exclusive of GST then in that case, the expense amount is grossed up to 1.9608. Calculation of FBT on car benefit provided by Periwinkle to Emma In the given case, in order to calculate the FBT liability for Periwinkle limited for the Fringe benefits in the form of car that has been provided to Emma, it is important to calculate the Fringe benefit value on which the liability of FRT taxation would be calculated. The FBT value would be calculated as follows: FBT taxable value = FBT capital value X statutory percentage X (number of days in FBT year the vehicle is available for use)/365 The FBT capital value refers to the capital value on which the FBT taxation is calculated. In the given case, the car has been purchased for $33,000 whereas $550 has been spending on the repairs. Thus in that case, the FBT capital value would be $32450 In order to determine what percentage of the car if being used for personal purposes, a statutory percentage is taken based on the assumptions which have been provided in the act itself. In the given case if the car has been purchased without any existing contract and the car has ran for than 15000 Kms during the period, then in that case, the statutory percentage would be 20%. As calculated above, the car has been used for both personal as well for official purposes in total for 320 days net after considering the time for which has been put on hold while Emma was out of station and the car was on repairs. Considering all these points, the FBT value of the car would be calculated as follows: FBT taxable value = $32450 X 20% X (320/365) = $5690 (rounded off) FBT liability = FBT taxable value X Gross up factor X FBT rate = $5690 X 2.1463 X 49% = $ 5,984 In the given case, the company has given loan to Emma at an interest rate of 4.45%. As per the Australian tax laws, the market interest rate prevailing in 2016 is 5.45%. For the purpose of FBT, if an employer gives loan to the employee at concessional rates that what is prevailing in the market, then in that case, the different in the interest rates will be treated as Fringe benefit and the same would be used for computation of FBT tax liability. Taxable value of loan Fringe tax benefit = $ 5, 00,000 X (5.45 4.45) % X 212/365 = $ 5808 FBT liability = taxable value X FBT rate = $2904 X 49% = $ 1423 Emma has used 10% of the loan amount for purchasing shares. In this case she would be entitled for further deduction on the interest on loan amount used for income generating purposes Hence further deduction of FBT liability (FBT liability X 10%) = $1423 ($1423X 10%) = $ 142 Net FBT liability in case of Loan fringe benefit = $1423- $142 = $ 1280 Purchase of bathtub by Emma at a concessional price Emma has acquired a bath tab from the company at a concessional rate. The tab has a cost price of $1700 and the same is sold in the market at a price of $2600. In this case, the bath tab was sold to Emma for $1300. As per the Australian tax laws, no FBT will be applicable if the employee has been provided with goods that has been manufactured by the company itself and the same has been provided at concessional rates to the employee. Thus in this case, the Bath tab that has been provided to Emma at concessional rates will fall outside the preview of FBT. Case 2 In the given case, Dave is planning to sell all his assets and utilize the entire amount for his retirement. He is planning to get retire in next 1 year. He has already turned 59. He is planning to collect $1 million and rent out a city apartment and deposit certain amount in the superannuation fund for future use. He decided to sale his residence where he was lining from past 30 years. The residence was acquired for $70,000 and he decides to get it auctioned. The house was sold for $850,000. During this action process, Dave forfeited $85,000 amount of one of the desired buyer. He paid $15,000 to the agent for making all the necessary adjustment for the sales process. As per the Australian income tax laws, no capital gain tax is paid by the person on sale of his residence. However, this exemption is applicable on only for the home where you live in. If a person has more than one home, in that case the exemption will be provided for only one home in which the person is living. In the given case, Dave has been living in the house of more than 30 years. While making the sale he has made a profit of $850,000. The amount that Dave has forfeited will be treated as his income. Being this profit is made on sale of his own residence; hence the transaction is not applicable for Capital gain tax. Dave during the year 1985 has purchased a painting of Pro hart. This painting was purchased for $15,000. Dave arranged for an action of the painting in the current year and sold the same for $125,000. As per the Australian tax laws, if a person makes some gain or loss from sale of personal and collectible assets, then the gain so made by them would be taxable in their hands but they would be classified under a separate category. These gains and losses would not be classified with normal capital gain tax and should be taxed separately. The collectable and personal asset in this case includes art work such as drawings, paintings, photographs etc., jewellery, antiques, coins etc. Being these are personal assets thus the same cannot be leased out. In the given case, Dave has sold the painting go for pro hart which he has purchased for $15,000 for $125,000. He has made a gain of $110,000 on sale of the painting. The gain so made on this sale would be taxable in the hands of the assessee but they needs to be classified under a separate head other than from the capital gain head. Dave in the year 2004 has purchased a motor cruiser for $110,000. The cruiser was later on in the current year has been sold for $60,000. As per the Australian tax law provisions, there is no capital gain tax applicable on sale of personal assets such as car, home etc. of an individual. In the given case, being Dave has a motor cruiser which is being used by him for his personal use. In this case, it will be regarded as a personal asset of the individual and thus the same would be exempt from Capital gain tax. In the given case, Dave has incurred a loss of $50,000, being the profit earned for personal asset will not be taxed, in the similar way; any loss incurred on such sale would be set off from any gain. During the year, Dave a taken $70,000 as loan and used the same for purchase of shares. These shares later on in the year were sold for $80,000. Dave paid $5000 as interest on this loan. Further for the transaction in shares, he has paid $750 as brokerage and $250 as stamp duty. If a person is carrying on a business of trading in shares, in that case, the income so arising would be taxable as ordinary income. Otherwise, the income so arising on the sale of shares would be treated as capital gain and would be taxed accordingly. In this case for the purpose of computation of capital gain all the expenses that have been incurred in earning the profit on such sale would be allowed as deduction. However, the interest that the individual has paid on the loan amount that he has utilised for purchasing the shares, would not be allowed as deduction being the same does not have any direct link with generation of income. In this case, Dave made a profit of $9,000 on the transaction. The interest amount of $5,000 would not be allowed as deduction. For the current year Dave made a net capital gain of $119,000 in total ie $110,000 from sale of painting and $9,000 from sale of shares.Dave in the last year has a net capital loss of $10,000 that he has earned on sale of shares. The capital loss so incurred by Dave can be carried forward and will be reduced from the gain made in the current year.Thus, in net Dave has made a capital gain of $109,000 which he can utilize for making further investment in the superannuation fund which he has created for his retirement purposes.ReferencesATO. Particular Amount Sale of shares $80,000 Purchase price -$70,000 Brokerge -$750 Stamp duty -$250 Net profit $9,000 For the current year Dave made a net capital gain of $119,000 in total ie $110,000 from sale of painting and $9,000 from sale of shares. Dave in the last year has a net capital loss of $10,000 that he has earned on sale of shares. The capital loss so incurred by Dave can be carried forward and will be reduced from the gain made in the current year. Thus, in net Dave has made a capital gain of $109,000 which he can utilize for making further investment in the superannuation fund which he has created for his retirement purposes. References ATO. Gov, Statutory formula method for Car FBT taxation, viewed on 1st June 2016, ATO. Gov, FBT Tax rate 2016, viewed on 1st June 2016 ATO. Gov, Collectables and personal use assets, viewed on 1st June 2016.