HOLMESINSTITUTEFACULTY OFHIGHEREDUCATION Assessment Details and Submission GuidelinesTrimesterT1 2021Unit CodeHI6028Unit TitleTaxation Theory, Practice & LawAssessment TypeIndividual AssignmentAssessment TitleCase Studies of Specific Deductions and Tax LiabilityPurpose of theassessment (with ULOMapping)Students are required to follow the instructions by your lecturer to confirm anyrelevant information. You also need to follow any relevant announcement onBlackboard to confirm the due date and time of the assignment.The individual assignment will assess students on the following learningoutcomes:1. Demonstrate an understanding of the Australian income tax system, theconcept of FBT, Ordinary Income, deductions, general anti-avoidanceprovisions and income tax administration. (ULO 1).2. Identify and critically analyse taxation issues. (ULO 2).3. Interpret the relevant taxation legislations and case law. (ULO 3).4. Apply taxation principles to real life problems. (ULO 4).WeightThis assignment task accounts for 25 % of total marks in this unit.Total MarksThis assignment task accounts for 25 marks of total marks in this unit.Word limitMax 2000 words (acceptable to be 10% above or below this word limit).Due DateWeek 9, 19 May 2021 (Before 11.30 PM AEST) Submission GuidelinesInstructions: Please read carefully to avoid mistakes.• Answer all questions.• This assignment along with a completed Assignment Cover Page is to besubmitted on Blackboard by the due date in soft copy only.• The self-check links are no longer available as a separate link in each unit’sassessment. Students are now limited to attempt any given assignmentsubmission a maximum of once. After this attempt you will receive aSafeAssign originality report with Blackboard Learning ManagementSystem. This will provide detailed information about the matches foundbetween your submitted works and existing sources.• The assignment is to be submitted in accordance with assessment policystated in the Unit Outline and Student Handbook.• It is the responsibility of the student submitting the work to ensure thatthe work is in fact his/her own work. Incorporating another’s work or ideasinto one’s own work without appropriate acknowledgement is anacademic offence. •The assignment must be in MS Word format, no spacing, 12-pt Arial fontand 2 cm margins on all four sides of your page with appropriate sectionheadings and page numbers.•Harvard Reference sources must be cited in the text of the report andlisted appropriately at the end in a reference list using Harvardreferencing style. You also must refer to relevant legislation and/or caselaw in your answer. Reference sources must be cited in the text of thereport and listed appropriately at the end in a reference list using Harvardreferencing style.•Note: Assessment task is set around the work that you have done in class.You are not expected to go outside the content of the unit, but you areexpected to explore it. Assignments’ Instructions and RequirementsQuestion 1(Marks – 10)Calculate Total Assessable Income, Taxable Income, Tax Liability, Student loan (HECS), Medicare Levy,and Medicare Levy Surcharge if applicable, for the taxpayer (Susanne) with the information below:• Susanne is a single and an Australian resident plans to lodge a tax return for the tax year 2020 –2021.• Her total taxable income is $90,000 (Including tax withheld).• She does not have private health insurance.• Susanne has a student loan HECS outstanding for her previous study at Sydney University of$53,000.• Her employer pays superannuation guarantee charge of 9.5% on top of her salary to her nominatedfund.• Susanne earned a passive income of $10,000 from the investments in shares in the same tax year.Hint: The following website can be used to cross-check your answer, but you need to provide thedetailed calculations, rates and explanations with the screenshots of rates from the ATO website.https://www.paycalculator.com.au/Question – 2Marks (7.5 +7.5 =15)Part-AWhat is ‘fringe benefit tax’ (FBT)? Explain at least five main salient features of the FBT?Part -BCalculate the taxable value of the fringe benefit using the statutory formula in the following case context:Carron provides his employee (Rabbie) with the use of a Nissan Xtrail car 196 days during the FBT year.During the period, the car travelled 15,000 km. Carron purchased the car last year for $45,000. Rabbiecontributed $1,500 towards the cost of running the car and has provided Carron with relevantdocumentation.Academic IntegrityHolmes Institute is committed to ensuring and upholding Academic Integrity, as Academic Integrity isintegral to maintaining academic quality and the reputation of Holmes’ graduates. Accordingly, allassessment tasks need to comply with academic integrity guidelines. Table 1 identifies the sixcategories of Academic Integrity breaches. If you have any questions about Academic Integrity issuesrelated to your assessment tasks, please consult your lecturer or tutor for relevant referencingguidelines and support resources. Many of these resources can also be found through the Study Sillslink on Blackboard.Academic Integrity breaches are a serious offence punishable by penalties that may range fromdeduction of marks, failure of the assessment task or unit involved, suspension of course enrolment,or cancellation of course enrolment.Table 1: Six categories of Academic Integrity breaches PlagiarismReproducing the work of someone else without attribution. Whena student submits their own work on multiple occasions this isknown as self-plagiarism.CollusionWorking with one or more other individuals to complete anassignment, in a way that is not authorised.CopyingReproducing and submitting the work of another student, with orwithout their knowledge. If a student fails to take reasonableprecautions to prevent their own original work from being copied,this may also be considered an offence.ImpersonationFalsely presenting oneself, or engaging someone else to present asoneself, in an in-person examination.Contract cheatingContracting a third party to complete an assessment task, generallyin exchange for money or other manner of payment.Data fabricationfalsificationandManipulating or inventing data with the intent of supporting falseconclusions, including manipulating images. Source: INQAAHE, 2020If any words or ideas used the assignment submission do not represent your original words or ideas,you must cite all relevant sources and make clear the extent to which such sources were used.In addition, written assignments that are similar or identical to those of another student is also aviolation of the Holmes Institute’s Academic Conduct and Integrity policy.The consequences for a violation of this policy include a range of penalties varying from a 50% penaltythrough suspension of enrolment. The penalty would be dependent on the extent of academicmisconduct and your history of academic misconduct issues.All assessments will be automatically submitted to SafeAssign to assess their originality.For further information and additional learning resources please refer to your Discussion Board forthe unit.
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