{"id":935,"date":"2016-04-21T16:37:04","date_gmt":"2016-04-21T06:37:04","guid":{"rendered":"http:\/\/casestudyhelp.com\/sample-questions\/?p=935"},"modified":"2018-01-24T18:04:23","modified_gmt":"2018-01-24T07:04:23","slug":"blo2206-taxation-law-and-practice-case-study-and-assignment-help","status":"publish","type":"post","link":"https:\/\/casestudyhelp.com\/sample-questions\/blo2206-taxation-law-and-practice-case-study-and-assignment-help\/","title":{"rendered":"BLO2206 TAXATION LAW AND PRACTICE CASE STUDY AND ASSIGNMENT HELP"},"content":{"rendered":"

TAXATION LAW AND PRACTICE<\/strong><\/span><\/h2>\n

Marking<\/strong>:\u00a0\u00a0\u00a0\u00a0\u00a0 Mark allocation is set out for students in the introductory work notes.\u00a0 Students must refer to appropriate sections of legislation where applicable.\u00a0 Reference to cases should be made where there is a case that is important to the answer.<\/p>\n

Plagiarism<\/strong>\u00a0\u00a0\u00a0 A student who plagiarizes will have their assignment returned with a zero mark.\u00a0 Students should familiarize themselves with the university policy on plagiarism.<\/p>\n

QUESTION<\/strong><\/p>\n

Raelene was a secondary school teacher.\u00a0 She was also an excellent athlete specialising in the hurdles.\u00a0 Raelene\u2019s ambition was to be selected for the Australian team at the 2016 Olympics in Rio De Janeiro, Brazil.\u00a0 To be able to be selected for the team Raelene needed to achieve a specified time over the hurdles set be the Australian Olympic Committee.\u00a0 As well she had to achieve at least 10 first second or third placings in a two year period prior to the Rio Olympics at athletic meetings selected by the Australian Olympic Committee.\u00a0 Most of the competitions she was required to compete in were overseas.<\/p>\n

The education department, who was Raelene\u2019s employer, allowed teachers 2 months leave on full pay if selected in an Australian team.\u00a0 Such a policy would allow Raelene to attend the Olympics.\u00a0 However, to be able to achieve the requirements of the Australian Olympic Committee Raelene needed to take 12 months leave, without any pay, prior to the Olympics to enable here to train, travel and compete as required by the Australian Olympic committee.<\/p>\n

Some of the competitions Raelene entered into had prize money.\u00a0 Raelene did not enter these competitions for the prize money. \u00a0She entered them because she had to because of the requirements of the Australian Olympic Committee.\u00a0 Raelene needed to raise a substantial amount of money to be able to travel, especially since she had no income from her teaching position, having taken leave without pay.\u00a0 To raise the money Raelene did a number of income raising activities.\u00a0 There were three types of activities Raelene undertook,.\u00a0 The first was fund raising with friends such as running barbeques and organising theatre nights.\u00a0 With the barbeque activity Racheal was able to buy the meat cheaply, having explained the reason for buying the meat to the butcher.\u00a0 She was then able to sell meat at the barbeque for more than she had to pay, thus making a profit.\u00a0 All the people attending the barbeque new they were helping to fund Raelene\u2019s trip overseas.\u00a0 With the theatre tickets, Raelene would buy tickets 30 at a time, thus buying them at a discount.\u00a0 She was then able to sell the tickets to friends at normal price and make a profit.\u00a0 Raelene also ran a trivia night.\u00a0 Friends paid to buy a table at the trivia night.\u00a0 Raelene was also able to have people donate prizes that could be auctioned off at the trivia night.\u00a0 From these three activities Raelene managed to raise $11,000.<\/p>\n

The second activity was form sporting organizations that provided funds to Raelene.\u00a0 Raelene\u2019s sporting club, The Eastern Hawks, donated $5,000 to Raelene.\u00a0 As well The Victorian Amateur Athletic Association awarded a scholarship to Raelene, payable on a monthly basis whilst she was overseas.\u00a0 The scholarship was worth $6,000.<\/p>\n

The third activity Raelene earned income from was through advertising.\u00a0 Raelene received $5000 from a sock manufacturer to advertise its socks.<\/p>\n

As well as the income from the above activities, Raelene also won $10,000 from some of the competitions Raelene entered into.<\/p>\n

Raelene left Australia on 1 July 2015 to compete in overseas sporting competitions, especially those competitions specified by the Australian Olympic Committee.\u00a0 The competitions Raelene competed in were in many countries and thus Raelene was on the move most of the time whilst overseas.\u00a0 Raelene was successful in her bid to be selected for the Australian Olympic team.\u00a0 \u00a0She planned to go straight to the Olympic Village to join the team at the end of July 2016.\u00a0 She would then commence her 2 month leave period from the education department, for being in an Australian team, at this time.<\/p>\n

Fully explain if any of the above amounts received by Raelene will be assessable income.<\/p>\n

 <\/p>\n

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