Accounting Assignment
  • Call us: +44 (203) 286 8649

Accounting Assignment


You can download the solution to the following question for free. For further assistance in  accounting assignments please check our offerings in Accounting assignment solutions. Our subject-matter-experts provide online assignment help to Accounting students from across the world and deliver plagiarism free solution with free Turnitin report with every solution.

(ExpertAssignmentHelp do not recommend anyone to use this sample as their own work.)


Case Study requiring preparation of workpapers, calculation of taxable  income and income tax payable, preparation of an individual tax return, and a letter  of advice.


Work related income

Work related income of the taxpayer include the income that is directly attributable to the work undertaken by the taxpayer. In the given scenario, the following would constitute as work related income:

The gross payment of $130,000 is the work-related income. 

Other income

This will include the income of the spouse of the taxpayer. In this case, it is:

$60,000- $1200 = $ 58,800

Capital gains

  • Superannuation Fund

The Superannuation fund would be included under this head as capital gain as per the provision of the Income Tax Assessment Act, 1997. There are two components of the superannuation fund – tax free and taxable (s307-120 ITAA97). In the given scenario, the taxpayer is paid an amount of $10,000 as superannuation fund by FinForesnsic Pty limited.

4/5 of $10,000 = $8,000

  • Personal contributions to Superannuation Fund

The taxpayer's personal contribution of $12,000 towards the Superannuation fund is non-concessional., which means that it is considered to have been paid after payment of tax. This will count towards the taxpayer's non-concessional contribution cap until she has claimed a tax deduction for it. From 1 July 2017 onwards, taxpayers will be allowed to claim for their personal contribution to the Superannuation fund till they turn 75. Hence, in the given case the superannuation amount of $12,000 of Harman Kaur is eligible for deduction from tax payable.  

  • Investments and Dividends

The profit/loss on the sale of a capital asset such as real estate or shares is referred to the capital gain or loss. Hence, the investments and dividends are treated under the head capital gains.

The MYR shares are sold by the taxpayer on 5 January 2017, then the capital gains which they would incur to the taxpayer will be in the tax year 2016/2017. The sale of MYR shares constitutes a CGT event A1(s104-107) as they were purchased after September 19, 1985.

The BHP shares do not trigger a CGT event since they were acquired before CGT started on 20 September 2015. Hence, the sale of BHP shares would not constitute as capital gain and the taxpayer will have a choice of including the capital gain in the assessable income. The capital gain would result from either indexation or discount method.

For complete solution please download from the link below

    Download this Assignment Sample for FREE
    1. This form collects your email so that we can correspond with you through our newsletters. Checkout our Privacy policy for more information.
    2. Yes, i consent to this conditions.

    (Some parts of the solution has been blurred due to privacy protection policy)


    Check all our academic help services

    programming assignment help
    dissertation writing service
    CV writing service
    essay writing service
    assignment writing service
    proofreading service