TLAW603 Mid Sem Exam T22023
.pdf
keyboard_arrow_up
School
Federation University *
*We aren’t endorsed by this school
Course
TLAW603
Subject
Law
Date
Jan 9, 2024
Type
Pages
10
Uploaded by UltraUniverseGuineaPig16
MID SEMESTER TAKE HOME EXAMINATION Unit TLAW603 Taxation Law Semester 2 2023 Date:
Saturday, 23 September 2023 Time Allowed
:
4 hours (9.00 am – 1.00 pm Sydney, Australia Time) Total Number of Questions: Part A
20 Compulsory Multiple Choice Questions = 40 marks Part B
8 Compulsory Short Answer Questions = 40 marks Part C
1 discussion question = 20 marks Total Marks:
100 marks Unit Coordinator Contact Bernadette.favis@imc.edu.au Instructions:
•
The examination will be a take-home examination. You will log into MOODLE and access the mid-semester exam via Top Hat. •
If you experience technical difficulties accessing the site, YOU MUST EMAIL THE UNIT COORDINATOR AND academic@imc.edu.au IMMEDIATELY. •
You will have from 9.00 am to 1.00 pm on Saturday, 23 January 2023 (Sydney, NSW time) (4 hours including reading time) to complete the exam. •
You MUST submit your answers to the exam via Moodle, using the Exam Answer Sheet no later than 1.00 pm Saturday, 23 September 2023 (Sydney, NSW time). •
Late submissions will not be accepted and may result in you failing the examination. •
Any attempt to use cheat, copy or help a fellow student (including using AI, WhatsApp groups to discuss your answers) will result in an immediate cancellation of a student’s paper and a FAILURE mark issues for the course. •
You must not circulate the exam paper or answers to the exam paper or you may be subject to disciplinary action by the IMC.
2 References throughout this examination to ITAA97 and ITAA36 are references to the Income Tax Assessment Act 1997 (Cth) and the Income Tax Assessment Act 1936 (Cth), respectively. Part A Multiple Choice Total of 40 marks, each question is worth a total of 2 marks. YOU MUST ATTEMPT EACH QUESTION 1.
Can the States pass laws concerned with taxation?
a.
Only the Commonwealth can pass laws concerns with taxation.
b.
States can pass laws concerning taxation so long as it is consistent with the provisions of the Constitution. 2.
Under which provisions of the Constitution can the Commonwealth pass laws with respect to taxation?
a.
Section 52(iii)
b.
Section 51(i) c.
Section 51(ii) d.
Section 52(ii) 3.
Janet is a resident nurse who derives Australian source employment income during the period 1 July to 31 December of $30,000. She also derives employment income from Fiji of AUD$40,000 during the period 1 January to 30 June, with appropriate tax being deducted from the salary in Fiji. Janet has private patient hospital cover. What is Janet’s net tax payable, including Medicare levy, if applicable? a.
$6,567.28
b.
$6,577.28
c.
$6,577.82
d.
$6,557.28
3 4.
Some of the main factors the courts look for in determining the Australian tax residence of a person include: a.
the extent to which they are physically present in Australia in the year of income b.
the frequency, regularity, and duration of their visits c.
whether they maintain a permanent place of abode in Australia or overseas d.
where they maintain their family and business ties e.
all of the above are correct. 5.
The High Court in the case of Scott v FC of T determined that: a.
amounts that are mere gifts, such as the gift of a large sum of money Mr Scott received from his friend who was a widow and the wife of a former client, are not considered to be ordinary income b.
amounts that are gifts must always be treated as ‘ordinary income’ c.
amounts that are mere gifts, such as the gift of a large sum of money Mr Scott received from his friend who was a widow and the wife of a former client, are fully tax deductible to the person making the gift d.
None of the above. 6.
Which of the following statements is correct? a.
Gains that are ordinary income will be assessable income under s 6-5 of ITAA 1997. b.
Gains will be ordinary income if they are the type of gains that courts of law consider to be of an income character. c.
A gain that comes in regularly/periodically is more likely to be ordinary income than a lump-sum gain. d.
Whether or not a gain arises from an illegal activity does not affect whether it is ordinary income. e.
All of the above. 7.
On 1 December, Jane, 18-year old American student arrives in Sydney on 1 January to study a Bachelor of Accounting degree at IMC. She works part-time
4 in a local restaurant to help pay her way. Her earnings to 30 June are $10,000. Unfortunately she does not spend enough time studying and fails all her subjects. This leads to her return home on 1 December. Did Jane become an Australian resident for tax purposes? a.
Yes, Jane became an Australian resident for tax purposes b.
No, Jane did not become an Australian resident for tax purposes 8.
Alan, has lived in Brisbane for the past 4 months and who works as a rigger on a large building project. On completion of the project Alan will return to Holland, his native country. Is Alan a resident within the definition of section 6 of the ITAA36? a.
Yes, Alan is a resident within the definition of section 6 of the ITAA36 b.
No, Alan is not a resident within the definition of section 6 of the ITAA36 9.
Sandra Bynes, an American film star, lived at a hotel in Sydney during a visit to Australia from 28 January to 28 November, the purpose of which was to film a TV series set in Australia. The series was not a success and Sandra returns to the United States on 28 November. Is Sandra a resident within the definition of section 6 of the ITAA36?
a.
Yes, Sandra is a resident within the definition of section 6 of the ITAA36 b.
No, Sandra is not a resident within the definition of section 6 of the ITAA36 10.
Testra Pty Ltd, is a company incorporated in South Australia as the wholly owned subsidiary of a company incorporated in New Zealand. No business will be carried on by the South Australian company in Australia in the income year. Is Testra Pty Ltd a resident company within the definition of section 6 of the ITAA36? a.
Yes, Testra Pty Ltd is a resident within the definition of section 6 of the ITAA36 b.
No, Testra Pty Ltd is not a resident within the definition of section 6 of the ITAA36 11.
A company, incorporated in the United Kingdom, which opens a branch in Tasmania to conduct geological surveys for overseas clients. Is the company a resident company within the definition of section 6 of the ITAA36?
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help