ACC3TAX - Tax Accountant - Accounting Work - Hawks Tax - Case Study

Assignment Task:

ACC3TAX - Tax Accountant - Accounting Work - Hawks Tax - Case Study 

Case Study: Enzo Satriani

Enzo Satriani is a tax accountant who operates his taxation and accounting business “Enzo Tax”, which has multiple unrelated clients. Enzo primarily works from his home office located in Bundoora, and occasionally works at the premises of his client Fallali Pty Ltd. He employs an administrative assistant on a part time basis to take phone calls and manage appointments, and he is also assisted by an intern – a taxation student who is undertaking a work placement subject. The intern provides basic data entry services but does not prepare or finalise any returns, major taxation and accounting work or advices. The major part of the work is prepared and finalised by Enzo and is estimated to be more than 80% of the workload. Neither the administrative assistant nor taxation intern is the associate of Enzo. In 2019/20 Enzo Tax earned a total of $648,000 in client fees, 70% of which it received from its main client Fallali Pty Ltd, to whom Enzo has provided on-going general taxation and accounting services for many years including the preparation and lodgement of monthly Business Activity Statements (BASs), general and specific taxation advices, management of accounts and other accounting services required from time to time. Fallali Pty Ltd regards Enzo as almost being one of its staff members as he is regarded as being its in-house taxation and accounting resource. The remaining 30% of fees comes from several minor clients for whom Hawks Tax is contracted to provide specific advices on engagements.

Required 
(a) As a tax accountant, advise Enzo Satriani on the income tax consequences of the above activities for the year ending 30 June 2020, applying legislation and case law to support your (26 marks)
(b) Calculate and try to minimise Enzo Satriani’s tax liability for the year ending 30 June 2020, applying legislation and case law to support your answer.

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