Professional Services Consulting Firm - Accounting Assignment Help

Assignment Task :

Question 1
You work at a professional services consulting firm. One of the major business lines of that business is to provide advice to lobby groups. One of the firm’s clients is concerned about something it calls ‘middle class welfare’, where the government allows a variety of laws to operate which advantage the middle class and the rich. The client is particularly interested in the impact of the dividend imputation scheme on government revenues. 
The client suggests that dividend imputation cease, and all dividends are treated as ordinary income in the hands of the recipient. 
The client asked your firm to estimate the impact on the Commonwealth Government revenues if his suggestion is implemented. He thinks there will be huge savings, and these can be used to reduce tax rates on individuals.
The client also wants to get a sense of who is benefitting from this scheme. For example, if this was removed, what impact if any, would there be on females v males? What are the characteristics of the major classes of beneficiaries of this scheme? What are the major characteristics of people who do not benefit from this scheme? For some strange reason, the client really dislikes Canberra and is convinced that this scheme unfairly benefits residents of that lovely place. You better address this issue, as your manager does not want the client to be embarrassed if he makes an erroneous statement in public. Your manager wants to know which areas are most advantaged by the current scheme.
 

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