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Auckland University of Technology ACCT707

ACCT707 TAXATION FOR ACCOUNTING STUDIES

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ACCT707 TAXATION FOR ACCOUNTING STUDIES

ASSESSMENT 1

ESSAY

Weighting: 30%

Type: Individual

Due date: Submit by 12.00 noon Monday 20 August, 2018

Length: Approximately 2,000 words (excluding reference list)

Submit to: Turnitin (instructions on Blackboard). Do NOT need to submit a hard copy

REQUIRED:

A satisfactory definition of “income” remains elusive, if indeed it could be regarded as achievable at all. As Hannan and Fansworth[1] observed:

“The word “income” is of such illusive import that it cannot be defined in precise terms which would adequately meet legislative requirements. Why its meaning is not to be found in any income tax statute is explained by the many shapes which income may assume, and the illimitable variety of circumstances in which it may be derived.”

Write an essay in which you discuss your opinion of the above statement. Your essay should have discussion on the concept of income for income tax purposesand the income/capital distinction. Support your discussion with references to the Income Tax Act 2007, relevant cases, and journal articles.

The essay should be referenced using the New Zealand Style Law Guide (NZSLG). Do NOT use APA style referencing.

Additional information on the structure of the essay, referencing, presentation of written work, and submission of the essay will be provided in the workshops for weeks 2,3 and 4.

Your essay will be graded using the marking criteria uploaded on Blackboard (under Assessments > Assessment 1: Essay > Assessment 1 marking criteria)

 

[1]John Peter Hannan and Albert Farnsworth. Principles of Income Taxation (Stevens & Sons, London, 1946)

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