Tax law exam notes

A1 Disposal of a CGT asset: What is the taxable value of the benefit? Tests of residency Individuals: Type 2 Fringe Benefits: Tax rulings are an important source of guidance.

Tax Law Exam Notes (Final)

An academic employed by the University of Adelaide was granted a period of study leave to work in Switzerland. The fact he had a home in Ireland and no established home in England was not incompatible with him being a resident of the United Kingdom because there was other evidence to support this conclusion.

Same asset roll-over, listed in s 1. The firm was large enough and had such complex administrative machinery that it could no longer be said it was being paid merely for the provision of professional services.

Capital gain or loss arises only if a CGT event happens: Individual providing services Brent v FCT: Net capital gains included in AI: He was trying to sell his property in England. He had no permanent residence until when he signed a nine year lease of a flat in Monte Carlo. Already have an account?

A right to enforce a contractual obligation v. Prior to settlement, a vendor may only sue for damages or specific performance, not to recover the purchase money as a debt. When was the CGT asset acquired? Tax consequences only apply once business starts, so this is significant point.

A block of land in Australia was sold by an Australian company through a transaction that took place in Switzerland in an effort to avoid Australian land tax. Question of whether a receipt has a nexus to the business activity and is a normal proceed of the business. FCT v Firstenberg - a sole practitioner chartered accountant who employed 6 full time assistants and extra employees for peak times was assessed on the cash basis as he had to sign off on all the work and the firm could not raise any profit without him: Appointment rule Apportion CP over all assets sold at the one time: Used for those coming to Australia.

Profit must have been derived by TP in the manner contemplated when entering the transaction: He had bank accounts and family in both countries and a portfolio of securities with an Irish address.

Calculate total GST liabilityA trimmed down version of my Income Tax Law Exam Course Notes that focus on the required knowledge for the exam. The COMMLAW notes are structured so that only the information relevant to answering the exam questions are present.

Income Tax Law Exam Notes

Complicated problems are set out in step form to make answers clear and comprehensive. Related documents Summary Introduction To Taxation Law: complete - Final Exam Notes rn Lecture notes - final exam notes Laws - Final Exam Notes Actual Lecture notes, cheat sheet for final exam Torts Law - Final Exam Notes LAWS - Final Exam Notes.

Tax Law xxam notxs General Tax Law points to note: Austualia uses ‘self-assessment system’ – TP must wouk out own tax payable.

TP lodges income tax uetuun → ATO issues ‘Notice of Assessment’ that cueates liability to pay extua tax/ueceipt uefund → Amending assessments (issued by TP ou ATO, picked up by an audit.

Tax Law Exam Notes

Taxation Law notes fully updated for exams in at Oxford and Cambridge. These notes cover all the LLB tax law cases and so are perfect for anyone doing an LLB in the UK or a great supplement for those doing LLBs abroad, whether that be in Ireland, Hong Kong or Malaysia (University of London).

Tax Analysts is also the publisher of Tax Notes, a subscription-based portfolio of services that offers federal, state, and international tax news, commentary, and analysis, as well as select research tools. Exam notes specifically written to navigate the Income Tax Law (LAW) exam.

Summary - complete - Taxation law 1 -Exam revision notes

These are a streamlined version of my Comprehensive Income Tax Law Notes designed to guide students in tackling the style of exam questions written.

Tax law exam notes
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