Now that you’ve analyzed the environmental situation and established who is in the target market, it is time for product development. Product design is crucial because new products are being introduced every day. So, while other people focus on that aspect of development, you turn your attention to branding.
Primary Task Response: Within the Discussion Board area, write 400-600 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas.
This morning, walking into the office, you greet Michelle who says, “I’d like to meet with you tomorrow to develop the branding strategy for the new product. Let’s meet for a working lunch and brainstorming session.” “That sounds great,” you reply. “I’ll schedule the meeting and order in lunch.” Entering your office, you begin to think about the items that you will be discussing during tomorrow’s meeting with Michelle. We haven’t even come up with a product name yet, you think. We also need to work on an advertising slogan or tag line. You know that Michelle has an extensive background in marketing, but you really want to make a good impression and bring a sound branding strategy to the meeting. How are we going to distinguish our product from our competitors? What are the benefits that we are going to highlight in our brand that will meet the needs or wants of our target customers? You create the following list of items that you need to address:
Identify in one sentence your overall branding strategy or brand image you want to achieve in the mind of your target segment.
Product name Advertising slogan or tag line Product attributes Product benefits
The Spanish colony of Mexico City, established in the early 1500s, quickly became the most important settlement in Mexican history. Since then, it has grown and developed into the largest city, and capital, of Mexico.”
Identify the bias and fallacious argument of the passage above. You may need to conduct quick research to find more information on the topic
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Russell Debwood is the founder and owner of Rusty Wood, an established small company that specializes in the coordination and distribution of lumber between lumber mills and retail lumberyards.
Russell started his career as a sales rep for Ravelston Building Supplies 25 years ago, where he learned everything about the industry, including the logistics of lumber transportation. He quickly worked his way up to divisional manager and started developing closer relationships with customers in his area. After eight years of service with Ravelston, corporate restructuring gave Russell the chance to resign from his position and start his own company, Rusty Wood, and continue to work closely with the four largest mills in his west coast district. He bought carloads of lumber from them and then sold these orders to customers and arranged shipping. His profit margin is typically at a 6% markup (which was the rate for similar companies in other areas). The mills were pleased to benefit from the ease of the hassle-free large volume sales, and Russell was growing a successful business as the ‘middle man’.
As years passed, the process became flawless. The mills would call Russell when they had a carload of product and they would provide him with the condition, grade, and quantity of each board in the load. Being the only company of his kind in his specific geographic area, the opportunities were endless. He wasn’t required to buy every carload that was available, however he rarely passed them up, as he found more and more customers who were willing to make purchases through Rusty Wood.
Russell always maintained good working relationships with both his customers and suppliers. Most of his work could be handled over the phone or by email, however, Russell still visited all of his customers on a monthly basis to ensure they were still happy and also to clear up any potential concerns or problems. His business was very successful until about five years ago when the first large home improvement chain moved into the area to compete directly against the local lumberyards.
Within 18 months, three large home improvement retail chains had moved into Russell’s market area. A year later, 12% of Russell’s customers had gone out of business and more than half were losing sales. Clearly, the large chains had the capital to buy lumber in huge quantities at a discounted rate from the mills; this allowed them to offer customers a well-stocked one-stop shop, with lower prices.
Russell’s close relationship to his customers helped him maintain enough business to keep his company running for the last few years, but it had been a struggle. Recently, a new salesman entered the market in Russell’s district. He offers the exact same service as Rusty Wood, but is undercutting the industry’s established pricing structures as an attempt to capture a majority of the business opportunities. Russell’s close customer relationships are starting to matter less as his longtime customers begin making their purchase decisions based on minimal prices and tight profits, rather than customer service or loyalty. Currently, Russell has about half of the business that he had a year ago. He is concerned for his livelihood as he doubts that there is (in the long term) enough business opportunities left to support two companies. Even with the business that he has right now, he is barely making a profit.
Last week, Russell received a phone call from Nathan Worship; an old work acquaintance. Nathan is the district manager of Wood Works Inc. Wood Works is a well-established local company that manufactures and sells windows, doors, and a couple other smaller lines. They do not sell to the large chains as they believe that local businesses need to be protected and given the opportunity to grow. Worship focuses his sales on local lumberyards and he is aware that Russell has a long-standing, positive relationship with most of them. Worship would like to hire Russell as Wood Work’s exclusive sales rep for their line of residential windows and accessories in Rusty Wood’s existing service area. Wood Works has recently implemented a new program to help lumberyards successfully market and sell these product lines that has proven to be more profitable due to a higher mark up. Worship is convinced that Wood Works has something new to offer that will be equally enticing and that Russell’s existing relationship with the lumberyards is the key to profitability.
Worship invited Russell to a meeting to make his proposal. The program will focus on the market for residential windows. Currently, the bulk of residential windows that are sold are of the mid-range line. These standard-sized windows sell easily if they are in stock and a decent price. The large chains generally stock and sell the majority of these mid-range windows; they sell very few high-end or low-end product lines. Customers can find most standard-sized windows at these stores. However, for anything outside of these parameters, a custom order is required.
Lumberyards, on the other hand, don’t bother stocking any windows; they rely on business from custom orders which they order from different factories and can generally deliver to the customer within a month. The window business among lumberyards in the area is split fairly evenly; sales are based on a combination of competitive prices and the personal relationships that the sales reps have developed with customers. Wood Works not only relies on good customer service, but they also recently set up an online program where you can directly access their prices and availability. Customers are happier now that they can immediately get a quote and estimated delivery time. Worship hopes this program will be successful not only for residential sales, but eventually lead to stronger commercial sales.
There seems to be a high demand in the commercial sector for commercial grade windows that meet commercial safety codes, yet also provide other features. Some commercial builders want the look of a residential window with an attractive wooden framework, but still require the security and quality of the heavy duty steel-framed commercial window. Wood Works plans to offer a program where the basic windows and frames are interchangeable. As a result, lumberyards could gain more business by breaking into the commercial market with an offer of these new combination windows. Customers could build any look with any quality, plus the program would offer a level of technical support that would be superior to all large home improvement retail chains. The possibilities are endless, as could be the profits. Though a few other companies have similar lines, they’ve never been marketed properly and they are not well known. Worship is certain that with Russell’s commitment and longtime relationships in the area, plus Wood Works’ training system and support system, this new program will be a huge success for both Wood Works and Russell alike.
Russell has three choices at this point. He could: (i) accept Worship’s offer and still continue his own lumber business on the side, (ii) abandon his lumber business and put all of his efforts into this new position with Wood Works, or (iii) decline the offer and put all of his efforts into Rusty Wood.
Worship will need to know in two weeks if Russell would like the job. Otherwise, he will need to rework his plan and try to find a new candidate. Please discuss Russell’s current situation in conjunction with the new offer.
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Module name Building Structures Module code TEC5STR Assignment 1 Level 5 Programme start month and year April 2021 Pass mark 40 Word count 1,600 Assessment weighting 40% *for further information see the Word count and overwriting section. Submission details For this assignment, you are required to submit: • a report as a Word (or similar) or PDF file. Please refer to the assignment guidance in the assignment area of the module for further guidance on the file types accepted by Turnitin. Submission of assignments All assignments must be submitted online in the module area of the VLE. The assignment submission link opens 21 days before the due date. Please refer to the information provided in the ‘Assessment preparation’ week for submission guidance. NOTE: Postal submissions will not be accepted. 1 Learning outcomes Code Description LO1 Examine the well-established principles of building structures and the way those principles have developed. LO2 Apply key concepts, theories and principles in structures and undertake analysis of the appropriateness of different approaches. LO3 Analyse information to develop technical arguments in the selection and application of structures in simple situations. LO4 Apply relevant legislation, standards and regulations to develop a range of structural solutions in simple situations. LO5 Present, interpret and communicate technical information on simple situations clearly and concisely, using sketches, drawings, calculations or in written form. Scenario You work for a construction management company as a site manager. Your line manager has asked you to report on a number of projects that the company is involved with, which require some calculation. The list of projects is:
A marine defence project on the North Sea coast of England, which involves the placing of a mixture of large granite blocks which are up to 1m3 in volume, together with a mixture of concrete tetrapod blocks and concrete dolos blocks.
A multi storey car park consisting of pre-cast concrete T beams (Figure 1 – See Appendix).
A project to install a bridge (Figure 2 – See Appendix) on a service road. The bridge is designed to carry vehicles up to a four-axle articulated lorry with a gross weight of 36 Tonnes. The design incorporates Warren Trusses for the side walls and these are connected by Rolled Steel Joists (RSJs) which support the bridge deck. The bridge has a span of 10m and the width of the deck is 4m. Task Write a short report to your line manager in which you analyse and provide advice on the following matters: a. Calculate the lifting capacity of plant for the marine defence project for the three different materials to be used in the scheme. Take into account that the cranes used to place and move around each item will have to operate so that their lifting cables can to be at an angle of up to 45°. Use your own research about marine protection to estimate typical weights for this project. Give your answers in Tonnes and in kN. b. Determine the position of the centroid of the pre cast T beams that are used for the floor slabs of the car park and explain why this would be the best place to drill any small holes as lifting points or for the location of any small services. c. Analyse the bridge structure with the aid of sketches. Your line manager is particularly interested in understanding the likely forces on the members of the bridge structure, the loads on the connecting RSJ’s and the necessary support reactions for the bridge. Reference list You should include a reference list with a minimum of six separate relevant and appropriate sources that you have written about and cited within your work. A bibliography of uncited sources is not required. Further information to support you with this assignment is available within the study materials for this module on the UCEM VLE. If you have any questions about this assignment, please contact your Module Tutor or Module Leader via the VLE. Marking guidance for this activity This guidance is designed to help you to do as well as possible in your assessment by explaining how the person marking your work will be judging it. Your work will be assessed in relation to the requirements set out in the assessment criteria marking guide at the end of this document and the grading guidance section below. It is recommended that you read both of these sections before starting your assessment to learn what will help you to achieve the highest marks. Once you have finished you should review the assessment before submitting it, to check you have done what is required to achieve the highest marks. When you receive your feedback from your tutor you should clearly be able to see which categories you gained marks in and, where relevant, recommendations about how to improve your performance going forward. Grading guidance This grading guidance section explains in more detail what a submission for this assessment should include in order to achieve a mark at the threshold, good and excellent standards. Threshold You will have attempted all the tasks in the assignment and have arrived at approximate answers for parts a and b. You will have included a brief description as to why the centroid of the T beams is the best place for lifting points, and identified the likely forces on the bridge structure. Good You will have met the criteria for Threshold and have explained the method of analysis for all the tasks. You should have solutions to tasks a and b that are reasoned and supported and be within 25mm of the correct position of the centroid in task b. You will have included a brief explanation as to why the centroid of the T beams is the best place for lifting points, and realistic analysis of the likely forces on the bridge structure with basic sketches. Excellent You will have met the criteria for Good and your answers to parts 1 and 2 of the task will derive acceptable results, using the correct units. Your analysis for task 3 will be logical and clear. You will have assessed reasonable maximum loads for the supporting RSJ’s in the bridge structure and you will have analysed the warren truss, to determine the axial loads in the truss members, using a recognised method of analysis, such as the method of resolution of joints. The overall structure of the report will be clear and informative and it will be supported with reliable sources. Word count and overwriting Exceeding 10% of the stated word count may limit the marks allocated for communication (see assessment criteria marking guide below). The following table outlines the inclusions and exclusions in the word count of the most common features of assessed pieces of work. Included Excluded Introduction Executive summary/abstract Main body Title page/front cover Footnotes/endnotes Contents List In text citations Calculations Words in tables Drawings/Images Conclusion List of references Recommendations Bibliography Headings and titles, except for those explicitly excluded Appendices The total number of words used must be stated on the first page of your assessment. Warning Plagiarising someone else’s work, whether copying from the internet, UCEM study materials, a textbook, a fellow student or elsewhere, is a serious offence. Before you submit your work for assessment, you must check it to ensure that you have fully cited within the text all the sources of information you have used and that all your sources are listed in a reference section at the end of your submission. Quoted text must not be excessive in length. You will find guidance on correct citing and referencing in The UCEM Guide to Referencing and Citation in Section 6 of the e-Library on the VLE. Be aware that your work will be checked using text-matching software. The ‘Turnitin‘ software is as much for your benefit as ours at UCEM. You can use it to check that all your citations have a matching reference, and review any highlighted text that may not be original and requires a reference. A high text-matching result could indicate plagiarism. If plagiarism is identified, this could result in a penalty ranging from a loss of marks to exclusion from your programme. Note: Please use the assignment referencing link to check the originality of your work before submitting it. Appendix Source: UCEM (2021) Figure 2: A bridge Source: UCEM (2021) The bridge has a span of 10m and the width of the deck is 4m. ASSESSMENT CRITERIA MARKING GUIDE LEVEL 5
COMMUNICATION 15 0–2 Inadequate 3–4 Limited 5 Below threshold 6–7 Threshold 8 Good 9 Very good 10–11 Excellent 12–15 Outstanding Relevance to task • The relevance of the information provided to the context of the task • The way the needs of the intended audience have been addressed. Irrelevant and addresses neither the task nor the needs of the intended audience. Largely irrelevant and does not effectively address the task or the needs of the intended audience. Partially relevant and attempts to address the task and the needs of the intended audience with significant irrelevance or omissions. Sufficiently relevant to the task and the needs of the intended audience to meet the learning outcomes. Mostly relevant to the task and the needs of the intended audience, with some minor irrelevance or omissions. Consistently relevant to the task and focussed on the requirements of the intended audience. Highly relevant to the task and precisely focussed on the requirements of the intended audience. Completely relevant to the task and fully focussed on the requirements of the intended audience. Structure and presentation • Organisation and presentation of ideas A lack of structure beyond a loosely connected list of points. Largely unstructured and does not have a clear logical flow. Inconsistent structure and logical flow. Adequate structure and logical flow. Reasonable structure and logical flow. Capable structure and logical flow. Advanced structure and logical flow. Proficient structure and logical flow. • Format appropriate to the intended audience and/or industry protocols • How structure and presentation enable communication. Presentation format is inappropriate. Communication is obstructed. Presentation format is ineffective. Communication is hindered. Presentation format is confused. Communication is only partially effective. Presentation format is satisfactory. Communication is sufficient to meet the learning outcomes. Presentation format is appropriate. Communication is clear. Presentation format is effective. Communication is sound. Presentation format is sophisticated. Communication is articulate. Presentation format is innovative. Communication is insightful. Grammar • Selection of words, sentence construction, spelling and punctuation. Use of grammar is deficient and meaning is obstructed. Significant grammatical errors and meaning lacks clarity. Several grammatical errors and meaning conveyed insufficiently clearly. Notwithstanding some minor errors and oversights, grammar and clarity of meaning are sufficient to meet the learning outcomes. Grammar usage is fair and conveys meaning clearly. Grammar usage is capable and conveys meaning effectively. Grammar usage is advanced and conveys meaning precisely. Grammar using is exceptional and conveys meaning eloquently.
KNOWLEDGE AND UNDERSTANDING 35 0–6 Inadequate 7–10 Limited 11–13 Below threshold 14–17 Threshold 18–20 Good 21–24 Very good 25–27 Excellent 28–35 Outstanding Knowledge of the key principles of the field of study Little significant knowledge of the subject matter. Incomplete knowledge of the subject matter. Some knowledge of the subject matter with significant omissions. General knowledge of key elements of the subject matter. Reasonable knowledge of the key elements of the subject matter. Sound knowledge of the subject matter. Comprehensive knowledge of the subject matter. Full knowledge of the subject matter. • Demonstration of understanding of the key principles of the field of study Misrepresented or misunderstood understanding of the key principles of the field of study. Ineffective understanding of the key principles of the field of study. Inconsistent and confused understanding of the key principles of the field of study. Basic understanding of the key principles of the field of study, sufficient to meet the learning outcomes. Clear understanding of the key principles of the field of study. Effective understanding of the key principles of the field of study. Sophisticated understanding of the key principles of the field of study. Very advanced understanding of the key principles of the field of study. • Knowledge and understanding of how the key principles have developed. Knowledge and understanding of how the key principles have developed is incorrect or omitted. Knowledge and understanding of how the key principles have developed is unsatisfactory. Knowledge and understanding of how the key principles have developed is inaccurate and partial with significant omissions. Knowledge and understanding of how the key principles have developed is adequate. Knowledge and understanding of how the key principles have developed is competent. Knowledge and understanding of how the key principles have developed is capable. Knowledge and understanding of how the key principles have developed is accurate. Knowledge and understanding of how the key principles have developed is exceptional.
USE AND APPLICATION OF SOURCE MATERIAL 30 0–5 Inadequate 6–8 Limited 9–11 Below threshold 12–14 Threshold 15–17 Good 18–20 Very good 21–23 Excellent 24–30 Outstanding Application of UCEM Harvard referencing style A minimal number of sources have been referenced. The referencing system is applied incoherently. Referencing is unsatisfactory due to significant omissions, inaccuracies or inconsistencies in the application of the referencing system. Referencing is insufficient due to several omissions, inaccuracies or inconsistencies in the application of the referencing system. Referencing is sufficiently complete, accurate and consistent in the application of the referencing system to meet the learning outcomes. Referencing is competent with mostly complete, accurate and consistent application of the referencing system. Referencing is effective with complete, accurate and consistent application of the referencing system with few errors. Referencing is comprehensive with complete, accurate and consistent application of the referencing system with minimal errors. Referencing is comprehensive and applied faultlessly. Source materials • Selection of course materials Minimal and incoherent selection of course materials. Ineffective selection of course materials with significant omissions. Inconsistent and inaccurate selection of course materials. Adequate selection of course materials. Competent selection of course materials. Capable selection of course materials. Sophisticated selection of course materials. Innovative selection of course materials. • Further research Further research is minimal. Further research is incomplete and unsatisfactory. Further research is insufficient. Further research is basic. Further research is reasonable. Further research is sound. Further research is. advanced. Further research is proficient. • Use of industry practice and personal experience. Industry practice and personal experience omitted or irrelevant. Limited and incomplete reference to industry practice and personal experience. Simple reference to industry practice and personal experience. Satisfactory reference to industry practice and personal experience. Clear reference to industry practice and personal experience. Effective reference to industry practice and personal experience. Perceptive reference to industry practice and personal experience. Insightful reference to industry practice and personal experience. Application of source materials to task Source materials are used inadequately and applied incoherently. The assessed work is not informed or improved by the source materials. Source materials are used ineffectively and applied unsatisfactorily. The assessed work is informed and improved in a limited manner by the source materials. Source materials are used inconsistently and applied partially. The assessed work is informed and improved in a simple manner by the source materials. Source materials are used satisfactorily and applied adequately. The assessed work is informed and improved in a basic manner by the source materials, sufficient to meet the learning outcomes. Source materials are used competently and applied clearly. The assessed work is informed and improved in a reasonable manner by the source materials. Source materials are used capably and applied consistently. The assessed work is informed and improved in a consistent manner by the source materials. Source materials are used perceptively and applied accurately. The assessed work is informed and improved in a comprehensive manner by the source materials. Source materials are used innovatively and applied insightfully. The assessed work is informed and improved in an exceptional manner by the source materials.
EVIDENCE BASED CRITICAL ANALYSIS 20 0–3 Inadequate 4–5 Limited 6–7 Below threshold 8–9 Threshold 10–11 Good 12–13 Very good 14–15 Excellent 16–20 Outstanding Critical analysis • Analysis of source materials Analysis of the source materials is superficial, deficient or minimal. Analysis of the source materials is shallow ineffective or incomplete. Analysis of the source materials is insubstantial, inaccurate or inconsistent. Analysis of the source materials is adequate and of sufficient depth to meet the learning outcomes. Analysis of the source materials is substantial clear and competent. Analysis of the source materials is thorough, effective and consistent. Analysis of the source materials is rigorous, accurate and comprehensive. Analysis of the source materials is profound, proficient and very advanced. • Application of analysis to the demands of the task. Analysis is not applied to the demands of the task. Analysis is applied unsatisfactorily to the demands of the task. Analysis is partially applied to the demands of the task. Analysis is satisfactorily applied to the demands of the task. Analysis is reasonably applied to the demands of the task. Analysis is effectively applied to the demands of the task. Analysis is perceptively applied to the demands of the task. Analysis is innovatively applied to the demands of the task. Development of solutions Proposed solutions are incoherent and deficient. Proposed solutions are unsatisfactory and ineffective. Proposed solutions are confused and inaccurate. Proposed solutions are satisfactory and sufficient to meet the learning outcomes. Proposed solutions are clear and reasonable. Proposed solutions are consistent and effective. Proposed solutions are advanced and sophisticated. Proposed solutions are ambitious and exceptional. Technical ability (where appropriate) • Quality of drawings Drawings are incorrect or omitted. Drawings are incomplete or with significant omissions. Drawings are inaccurate and only partially completed. Drawings are completed at a basic level sufficient to meet the learning outcomes. Drawings are completed at a competent level. Drawings are completed capably. Drawings are completed accurately. Drawings are completed to an exceptionally high standard. • Accuracy of calculations Calculations are incorrect or omitted. Calculations are incomplete with significant omissions. Calculations are inaccurate and only partially completed. Calculations are completed at a basic level sufficient to meet the learning outcomes. Calculations are completed at a competent level. Calculations are completed capably. Calculations are completed accurately. Calculations are completed to an exceptionally high standard. • Appropriate selection and application of information. Selection of information is incorrect or minimal. Information is applied inadequately or incoherently to the task. Selection of information is incomplete with significant omissions. Information is applied ineffectively or unsatisfactorily to the task. Selection of information is inconsistent and partial. Information is applied inaccurately to the task. Selection of information is satisfactory and sufficient to meet the learning outcomes. Information is applied adequately to the task. Selection of information is clear and reasonable. Information is applied competently to the task. Selection of information is consistent and effective. Information is applied capably to the task. Selection of information is accurate and comprehensive. Information is applied perceptively to the task. Selection of information is proficient and insightful. Information is applied innovatively to the task.
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Assessment Assessment 4 Individual Assignment Individual/Group Individual Length 2500 words equivalent Learning Outcomes This assessment addresses the following subject learning outcomes: a) Explain the Code of Conduct established under the TASA 2009 b) Interpret and apply selected sections of the ITAA 36 and ITAA97 covering ordinary and statutory income, general and specific deductions and the taxation of entities and their associates c) Formulate a piece of written advice for a client about the tax implications of their residency status and business activities with reference to applicable case law and legislation d) Compare and contrast the tax outcomes for the sole trader, partnership, trust and company structures, including the tax outcomes for associated entities e) Analyse and apply tax legislation to authentic scenarios Submission By 11:55pm AEST/AEDT Sunday of Week 10 Weighting 20% Total Marks 100 Marks Context: The assignment is designed to incorporate uncertainty. The student is expected to answer each question and provide appropriate analysis and/or suggestions. The student is expected to identify the facts and issues presented by each aspect of the case study, identify research requirements, identify and apply the relevant legislation and/or case law as appropriate, come to a conclusion and make a recommendations. This assignment assesses your research skills, your ability to synthesise an original piece of work to specific content requirements and your ability to produce a comprehensible piece of advice meeting the requirements of each task. It also assesses your written communication skills. The ability to effectively communicate is an essential skill in the workplace. Clients may well approach advisors seeking a combination of specific information needs and advice on the tax implications of a particular arrangement in the Australian tax jurisdiction. It is therefore important to be able to identify all the issues presented by an arrangement and to think about the potential consequences of different approaches in uncertain areas. Instructions: This assignment must be presented as an individual effort. The case study requires individual research. The course materials and set texts are intended to be the starting point of the research. It is expected the student will survey the relevant literature, including decided cases, and select appropriate additional resources including media and current events. The assignment must be presented in word processed format and submitted through Blackboard. Handwritten submissions will not be accepted. Extensions will not be granted except in exceptional circumstances. The assignment is designed to be completed sequentially through the trimester and each part can be completed in isolation to each other part. Torrens University referencing conventions are expected to be followed. The assessment rubric is attached to the assessment brief. Submission Instructions: Submission is by the due date through Blackboard Question 1 ( 10 Marks) Recently Australia has been ravaged by bushfires which have been attributed to the adverse effects of human induced climate change. You have been approached as a tax expert to offer some advice as to how the Australian tax system can be utilised to address the effects of climate change. In 350 words ( approximately) provide and discuss two tax based suggestions which you believe could be incorporated into the tax system to encourage activities designed to reduce the effects of climate change. You also need to provide a brief explanation of why you believe your suggestions will be effective. In your answer you need to discuss the effectiveness of taxation as a tool for social change. Possible resources – starting point only a) https://www.oecd.org/environment/tools-evaluation/environmentaltaxation.htm b) Investigate the existing primary producer tax concessions in the Australian taxation system. Question 2 ( 10 marks) a) Explain the Constitutional powers authorising the collection of tax in Australia. b) Discuss how the concept of separation of powers facilitates the effective operation of the Australian Taxation System. Possible resource – starting point only http://www.cefa.org.au/ccf/shaking-federation-through-taxation Question 3 (10 marks) a) Identify and briefly describe the principles set out in the Code of Professional Conduct for tax agent professional and their ethical standards. b) Referring to Explanatory Paper TPB 01/2010 Code of Professional Conduct, what mechanisms can be put in place to manage a conflict of interest? Possible resources – starting point only https://www.tpb.gov.au/code-professional-conduct-bas-agents Question 4 (30 marks) Required With reference to relevant legislation and/or case law, for Nisha, Jo and Miguel determine their: a) assessable income, b) allowable deductions c) taxable income d) tax assessed and e) balance of the assessment, including Medicare Levy. Show all workings and your legal analysis determining which amounts are assessable and which expenses are deductible. All taxpayers have adequate private health insurance. All are residents of Australia for tax purposes. Item Nisha (Plumber) Jo (Computer programmer) Miguel (Chef) Salary $ 34 000 $ 72 000 $ 61 000 Franked dividends $9000 (100% franked) $10 000 (70% franked) $5000 (15% franked) Purchase of cooking knives $ 650 Purchase of plumbing tools $ 400 $ 800 Everyday clothes for office wear $ 1 200 Trade journals specific to occupations $ 180 $ 190 $ 220 Purchase of books on computer programming $ 500 $ 260 Lottery winnings $ 40 500 $ 280 $ 30 300 Registered tax agent’s fee for preparation of tax return $ 200 $ 500 $ 300 Inheritance from grandmother $ 45 000 Costs of course in plumbing $ 620 $620 Uniforms for work $ 800 Donations to charity $ 50 $ 130 $ 80 Protective clothing $ 630 University fees – Computer course $ 800 $ 800 Interest on bank account $ 25 $ 330 $ 44 Rent from an investment property $ 27 500 Car expenses to travel to work $ 600 $ 500 $ 400 Investment property expenses $ 18 000 Rent paid on home apartment $ 5 200 $ 6 240 $ 6 760 Holiday costs $ 2 000 $ 2 200 $ 2 800 PAYG credits $3 600 $ 21 600 $18 700 Please refer to Appendix 1 for assistance in structuring your answers Question 5 ( 15 marks) Lisa and Monica are Australian residents for tax purposes and operate a hairdressing salon as partners where they each are entitled to 50% of the profits after allowing for partner’s salaries, interest on capital, interest on advances and interest on drawings. For the current income year, the partnership derives $102 000 of sales and $9 272 in GST and incurred $44 000 of expenses. The expenses included the purchase of a new hair curling megadevice which has an effective life of 7 years. However, it has not been unpacked and is not currently operational. The megadevice cost $7000. The partnership always uses the Dimishing Value method to calculate Decline in Value deductions. Lisa and Monica paid themselves a salary of $23 000 and $18 500 respectively. In addition Lisa received $3 000 interest on capital and paid $750 interest on her drawings. During the income year the partnership sold some unfranked shares for $15 000. The shares had been bought in 2010 for $3000 and were held 75% by Lisa and 25% Monica Monica was paid $3 500 interest on funds she advanced to the partnership. Monica also has a capital loss of $5000, $2000 of this is from the disposal of a collectible in a previous year. Required With reference to relevant legislation and/or case law: a) Calculate the s90 Partnership Net Income (PNI) and complete a partnership schedule showing the overall distribution to each of the partners. b) Calculate the taxable income and the tax assessed on taxable income for Monica Question 6 (25 marks) DellaBella Pty Ltd is a private company which incorporated in Australia in 2009 under the Corporations Act 2001 in order to operate a Bungee jumping business. The company has had the following results in the last three years: Income year Tax result 2015/16 $370 000 loss 2016/17 $500 000 loss 2017/18 $35 000 loss Della Bella Pty Ltd has prepared the following income statement for 2018/19: Income Gross profit from trading 510,000 Fully franked dividends 16,800 Exempt income 11,000 Gross Income 537,800 Expenses Interest expense 23,000 Wages 58,000 Entertainment expense 12,000 Fines and penalties 3,000 Increase in provision annual leave for 14,700 Depreciation 41,000 PAYG Instalments paid 130,000 Total expenses 281, 700 Net Profit 256, 100 Other information Note 1 – Decline in value for 2017/18 was $38,900. Note 2 – Annual leave paid amounted to $12,000. Note 3 – The $256, 100 profit does not include any tax losses from previous years. On the 1 September 2016 65% of the shares with voting, income and capital distribution rights changed ownership. On the 17 June 2017 the company started to operate a Berry Bomb ice cream outlet. DellaBella Pty Ltd has collected GST of $25 909 and received a yearly subsidy since 2009 from the Government of $20 000. The subsidy is classified as exempt income. Required With reference to the relevant legislation and/or case law: a) Explain the conditions that must be met to establish if a company is a resident of Australia for tax purposes and determine whether the company is a resident of Australia for taxation purposes b) Calculate DellaBella’s taxable income c) Calculate the tax assessed and the balance of Della Bella 2018/19 tax assessment d) Discuss how a company’s residency status impacts the taxation of a company in Australia. ( Disregard Double Tax Agreements foer the purpose of this question) Resource – starting point only https://www.ato.gov.au/Business/International-tax-for-business/In-detail/Residency/Residency- requirements-for-companies,-corporate-limited-partnerships-and-trusts/ Appendix 1 Use the following templates to structure your analysis in questions 4, 5, 6 as required Assessable income Item Yes No Legislative basis and explanation Tax deduction Item Yes No Legislative basis and explanation Tax calculation assistance Item Taxpayer Taxpayer Taxpayer Assessable income – Allowable deductions = Taxable income Tax on taxable income – Non refundable tax offsets + Medicare Levy = Total Tax and Medicare Levy – PAYG credits – Other credits = Balance of the assessment
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