TOP EDUCATION INSTITUTETLAW603

TOP EDUCATION INSTITUTETLAW603 ? TAXATION LAWAssignmentThe assignment is an individual assignment and is a case study to researchand critically analyze tax law, relevant supporting materials and literature.The assignment will be assessed on technical accuracy, logical arguments,critical analysis and original ideas, the quality of written presentation andproper use of references and footnotes. The assignment should be 2,000words in length.The assignment is due for submission in week 10 ((7 May 2014) and is to besubmitted online. There will be a penalty of 5% deduction per day from thetotal mark that would have been awarded for the assignment if it had beensubmitted on time.CASE STUDY:ADVANCE IT Group (ADVANCE) is a software corporation in Sydney thatmakes enterprise software to manage business operations and customerrelations. ADVANCE has signed a contract with a multinational financialinstitute to develop a new operating system in next two years.ADVANCE is planning to recruit three highly skilled programmers to manageand implement this new operating system in next two years. ADVANCE hasinterviewed three candidates who are the experts in developing this type ofoperating system.The candidates? proposed salary packages for two years contract startingfrom 1 July 2013 are summarized in the following:1. Mr. Robert Smith is an American and asks for a salary of $150,000(before tax) and the company is required either to pay home livingaway allowance ($3,000 per month) or reimburse his monthly rent andfood ($2,500 for rent and $500 for food per month).2. Mr. Samuel Layton is an Australian resident and lives in Perth. Samuelrequires a salary of $130,000 (before tax) and the company is requiredeither to pay home living away allowance ($3,000 per month) orreimburse his monthly rent ($2,500 for rent and $500 for food permonth). Samuel does not intend to maintain a home in Perth if heworks in Sydney.3. Mr. Leslie Ross is an Australian resident and lives in Brisbane. Leslieasks for a salary of $100,000 (before tax) and the company is requiredeither to pay home living away allowance ($2,500 per month) orreimburse his monthly rent ($2,000 for rent and $500 for food per2month). Leslie will maintain a home while his is away as his parents willlive in this home.The reform of the fringe benefits tax treatment of living-away-from-homebenefits commenced on 1 October 2012. The CFO has required you toanalyze the employment costs of these new employees based on thereformed living-away-from-home benefits and prepare a report for the nextmonthly management meeting.REQUIRE:This report should:1. Calculate and compare the employment costs (including FBT, if any) ofthese three new programmers for next two years ifa. ADVANCE reimburses their rentals and foodb. ADVANCE pays home-living-away- allowancesin addition to their salaries.2. Calculate and compare three new programmers? take home incomeafter tax for next two years ifa. ADVANCE reimburses their rentals and foodb. ADVANCE pays home-living-away- allowancesin addition to their salaries.3. What is the most cost-effective option to ADVANCE IT Group? Explainthe reasons.4. What are the effects of the reform of the fringe benefits tax treatment ofliving-away-from-home benefits?This essay need turnitin, similarity is less than 20% please

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