HI6028: Taxation Theory Practice and Law - Fringe Benefits Tax and Capital Gain Tax - Law Assignment Help

Assignment Task :

The individual assignment will assess students on the following learning outcomes: 

1. Demonstrate an understanding of the Australian income tax system, the concept of FBT, Ordinary Income, general anti-avoidance provisions and income tax administration. 

2. Identify and critically analyse taxation issues. 

3. Interpret the relevant taxation legislations and case law.

4. Apply taxation principles to real life problems.

Question 1 (10 Marks) 

Perisher Pty Ltd (Perisher) is a Ski equipment manufacturer that operates around Mt Hotham in Victoria. On 1 May 2019, Perisher provided Nikita (one of its employees) with a car as Nikita does a lot of travelling for work purposes. However, Nikita’s usage of the car is not restricted to work only. Perisher purchased the car on that date for $44,000 (including GST) plus $2,000 (including GST) dealer delivery charges. 

For the period of 1 May 2019 to 31 March 2020, Nikita travelled 12,000 kilometers in the car and incurred expenses of $770 on minor repairs that have been reimbursed by Perisher. The car was not used for 10 days when Nikita was interstate and was parked at the airport and for another five days when the car was scheduled for annual repairs

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