Taxation Law According to ITAA 1997 and ITAA 1936 CGT Speech or Presentation

Taxation Law According to ITAA 1997 and ITAA 1936 CGT - Speech or Presentation Example Hence these shares would be treated as if acquired by Les for $ 20,000, their market value on 1.4.2004, the date of his father’s death and not the $ 15,000 originally paid by his father on 10 August 2001. 7. Block of land: The block of land was purchased on 1 March 2000 for $ 130,000 and sold on 20 June 2010 for 150,000 resulting in a net CGT of 20,000 (H). Although the settlement proceeds were received on 10 August 2010 in the next financial year they would be taxable as on 30 June 2010 as the asset is considered sold or disposed off in the year the taxpayer loses its ownership. 8. Dividend income from certain shares was $ 5,200 with the imputation credits being $ 2,229. Here the taxpayer is eligible as a small shareholder as his imputation or franking credits are less than $ 5,000. Hence, net taxable income is $ 5,200 - $ 2,229 = $ 2971 (I) Under the dividend reinvestment the shareholder can choose to receive newly issued shares instead of divident. Such a plan is treated as if the shareholder received the actual dividend and then used the money to buy shares. The dividend is taxed like any other dividend (including with any  dividend imputation), and the shares are taken to be acquired for the cash one didnt receive. Dividend imputation is a corporate tax under which some or all of the share paid by the corporate may be attributed or ‘imputed’ to the shareholder by giving him tax credits so as to reduce the tax burden and avoid ‘double taxation’. These credits are called franking credits which the company gives to the shareholder at the time of paying dividend. Under dividend imputation small shareholders are exempt upto $ 5000 and franking credits are fully refundable. An eligible shareholder receiving a franked dividend declares the cash amount plus the franking credit as income, and is credited with the franking credit against their

Research Assignment 3 Essay Example | Topics and Well Written Essays - 250 words

Research Assignment 3 - Essay Example e College in Massachusetts admits only women in their college while Marymount Manhattan College in New York and Wheaton College in Massachusetts accept both men and women in their college. Women-only colleges like Barnard College and Mount Holyoke College design a curriculum that would uplift the competence of women. Both of these colleges value preservation of the school as a women’s university. As Barnard College is affiliated with the Columbia University and Mount Holyoke College with the â€Å"Seven Sisters,† students were given the opportunity to take classes easily in either of the affiliated schools. I noticed that these colleges value the beauty of scenery, probably because women value the aesthetic nature. Barnard and Mount Holyoke colleges maintain their own faculty, endowment, governance, and curriculum with distinguished competitive performance among other co-educational schools. Meanwhile, co-educational schools such as Marymount Manhattan College and Wheaton College consider diversity in their curriculum. Women are viewed in equal parity and importance just like men. Liberal arts curriculums of both colleges tend to enhance the leadership skills of both men and women. Since curriculums are directed towards diversity, women’s interests are viewed equal to men’s interests. With these, I think that women’s only colleges advance the interests of women more than co-educational colleges. Bank (2011) stated that women-only colleges put women in the center of its mission, can make women achieve and hold high expectations, make women feel important, provide more opportunities for women to engage in leadership opportunities, and prioritize the women in the curriculum than those of co-educational colleges (p.