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Wei couple - Bank of Queensland Bank (BOQ) - Accounts Assignment Help
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Assessment task
Question 1: Case study You are a financial adviser and the following information is an extract of data you gathered as part of fact finding during an initial client consultation for a married couple Zhang (aged 53) and Amanda (aged 55) Wei. Zhang works as a part-time senior teacher in a secondary school and Amanda, a CPA, is a public practitioner. The couple has 3 children aged 28, 26 and 22. Only the youngest child is still living at home but plans to move out within the next 1 or 2 years.- The Wei couple would like to know their net earnings after paying tax for the year ended 30th June 2019. They would also like advice on how to reduce their tax liability in the future.
- 10 months ago Amanda invested in equity. She bought 550 shares in ANZ Bank at $30 a share and 150 shares in Macquarie Group $112 a share. She wants to sell her Macquarie Group shares (expected sale price $130) to lock in her profit and has come to you for advice.
- Zhang is concerned about his superannuation. He would like to know how much return his superannuation is making. He is 53 and describes himself as a conservative investor and is stressed observing the frequent change in value of superannuation portfolio.
Required:
- Calculate Zhang and Amanda’s after-tax income for the year ended June 30th 2019. Explain how Zhang and Amanda could reduce their tax liability through splitting their income. Show the effect this strategy would have had, if they had split income for the tax year ended 30 June 2019.
- Calculate Amanda’s capital gains liability if she were to sell her Macquarie Group Shares. Assume that Amanda will sell her shares and advise her on a strategy she could use to minimise her possible capital gain. Also show the effect this strategy would have.
- Calculate the expected return for Zhang’s superannuation portfolio using the return for the year ended June 2019. Explain to Zhang why his superannuation portfolio balance fluctuates more than he would like it to.
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